Michael Hill Jeweller Introduction: Michael Hill jeweller is a multi-specialty jeweller in North America and the Oceania. The company was started in 1979 by Mr. Michael Hill and his wife Ms. Christine when they opened their first store in New Zealand in the town Whangarei. The company then grew to 10 stores by 1987 with an issue of 6m shares each worth 65c. By 31 December, 2011 a total of 245 stores were recorded under Michael Hill jewellers. (NZX, 2014) Competitive Position: Competitive Positioning is defined as how you will differentiate your products or services thereby creating a value for in the market. A good positioning is influenced by market profile, customer segments, competitive analysis and methods of delivering value. (Marketingmo, 2014) Competitive Advantages identified: • Bringing about required changes in accordance with the latest trend. • Making the best shopping experience for their customers. • Offering the best price based on the quality of products. • Highly qualified staff with in-house training and years of experience. • Located in every city/town targetting all the customers. • Availability of large customer online base. • Raw materials are only taken from certified suppliers. Michael Hill Jeweler is the middle market leader in New Zealand and Australia. Whereas, in North America and Canada Michael Hill jewelers are considered to be the challengers. SWOT Strength • Popular name in the market. • Appropriate designing of store. • Vertical integration of business. Weakness • Large inventory. • High dependancy rate in a particular region. • Concentartion on the world. Opportunites • Growing global jewellery market. • Expansion of business across the world. • Introduction to online market. Threats • Rise in la... ... middle of paper ... ...n Strategy: Targets to Mode Purpose Customers • Social Media • Television advertisements • Print Media • Telephone • Brochures • Email • Increase sales • Make the customer familiar with the products available Employees • Meetings • Notice board awareness • Educate the employees with the wide range of products available • Company success Stakeholders • Annual Report • Board of discussions • Company success With the use of the above mentioned mode of communication the company will be able to achieve the following: • Increase in number of sales thereby increasing the profits percentage. • Will be able to maintain a strong relationship between the company and the stakeholders. • Will be able to take inputs/suggestions from the employees and use the best to improve the business. • Will facilitate the employees to get a better understanding of the working of the company.
Foxy Originals is founded by two enthusiastic jewelry designers- Jen Kluger and Suzie Orol, who believed that life should be fun and full of excitement. Foxy jewelry offered high style and high quality at an affordable price and targeted women between 18 to 30 who were style- and price- conscious. Because of the growing popularity in the Canada, Foxy is now taking account into expanding its business to the U.S market to ease its saturation in Canada and growing its profit by at least $100,000 in the U.S. However, Ms. Kluger and Ms. Orol would first deicide on the best method of distribution- attending trade shows or hiring sales representatives.
The company's management put a lot of emphasis on taking care of its employees, encouraging an entrepreneurial spirit, treating each other with respect, and being committed
Moreover, the company has placed great significance on open and honest communications with the employees on many levels. Even more, leadership expected a plan that would utilize all human assets in a way that would support the organization’s attitude in servicing customers and employees. As such, they found it important to centralize the staffing initiative in order to maintain the unique corporate culture created in the beginning. Every one of these strategies would be focused on centralizing staffing, brining in the best possible employees, and retaining each on a high
Cunningham Fine Jewelry is a jewelry store that is located in Tulsa, Oklahoma. They specialize in jewelries, bridal jewelries, designer jewelries, diamonds, and custom design. The jewelries they supply include bracelets, bridal sets, charms, earrings, engagement rings, necklaces, pendants, rings, watches, and wedding bands. In 2008 Cunningham Fine Jewelry was named as one of Americas Best Jewelers and in 2009 was named to the National Jeweler Hall of
According to Alvin J. Silk, a positioning statement is designed to define who are a company’s customers, what set of needs does the product fulfill, and why is the product the best one to fill those needs (2006, p. 90). I found this question challenging because a positioning statement should define “the place the firm wishes to occupy in its’ targe...
The Stefani B Collection should come up with a segmentation process. The following factors that should be in the process contain the following: sustainability, measurability, accessibility, serviceability. Sustainability is about ensuring a large enough customer base to make sufficient sales and profit. The brand should also consider the potential for future growth. It is important to connect with the customers, having a variety of merchandise that keep customers interested. Next, measurability is thinking of the store’s size and buying power. An example of this would be thinking of a high school coming in to match jewelry with their prom dresses; how many high school seniors attend that school or what is the average income of families
Hallstead Jeweler’s started as a pioneer in its era, and as the generations went on the company stayed true to what worked when they first started. Anachronism’s work only to a certain extent when thinking of nostalgic/retro items such as old cars, fashion, and art. Being a business that attributes itself to a period it does not belong to is not a good long term solution. Hallstead Jewelers stopped changing with the times.“The sisters' father saw the changes in the retail landscape, but he took no action because of them” (Bruns). This single fault caused a lapse in innovation a costly move that caused them to lose market share. According to Benjamin Franklin, “when you are finished changing, you are finished.” This quote directly applies to Gretchen and Michaela, who are now responsible for their family’s inability to adapt. The market share that they need to focus on is the
House of Diamonds is a Jewelry Retailer in Overland Park, Kansas. It was founded in 1995 by Gene Cullinane. The organization rotates around a customer service-focused plan of action. Since establishing in 1995 they have evolved into one of the most complete and talented jewelry studios in the Midwest. It is the quality, investment in the latest technology, and craftsmanship.
Product positioning - Refers to consumers' perceptions of a product's attributes, uses, quality, and advantages and disadvantages relative to competing brands. Our R&D department is doing tremendous job meeting all our customers’ expectations.
The core business of M/s. Meena Jewellery Exclusive Pvt. Ltd. is Jewellery.Promoters of the said unit have the expertise in the jewellery section and they want to expand their business in jewellery section only, by focusing on the same. Moreover, they aren’t experts in retail
iii. India dominates the world’s cut and polished diamonds (CPD) market. In value terms, the country accounts for approximately 55 percent of global polished diamond market and nearly 9 percent of the jewellery market. According to GJEPC's provisional estimate, cut and polished diamonds registered 19.06 percent growth in exports at US$ 7.11 mn.
The value of diamonds lies on their physical properties that make them suitable for many applications. Natural diamonds are only of high value if they are scarce in nature. Realizing this, De Beers Consolidated Mines was formed to control the supply of diamonds from mines across the world. The diamond market is influenced by mine production, rough diamond distribution, preparation/cutting, and retail markets. The project will be concentrating on the retail markets for diamonds and other high end jewelry.
Product positioning is to use certain features of the product to position against the product of competitor. With the help of this marketing activity, marketers can attract more customers by focusing of special features of their product.
Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. It involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. A significant differential advantage can lead customers to focus on product benefits other than price. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors.