student assignment on international marketing for indian jewellery
DESCRIPTION
"This happens only in India...." Project for International Marketing Course - Rustomjee Business School class of MMS15TRANSCRIPT
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It happens RustomjeeBusinessSchool
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Indian gold jewellery
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Motivation For International Market•Demand for Indian design
•Market rate fluctuates(limitation in domestic market)
•Uniqueness
•Changing trend
•Investment + fashion
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Indian Retail Jewellery Overview
Yesterday TodayUnbranded Branded
Silver & Gold jewellery Gold & Diamond
jewellery
Investment Investment + Fashion
Traditional design Fashionable & innovative
design
Marriage & festival is
peak season
Wear ability and gifts
Jewellery sold on
commodity basis with
labor charges
Jewellery being sold on a
per piece basisRustomjeeBusinessSchool
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Source: official website of Gujarat ,as on 17/12/08.www.vibrantgujarat.com/detailed-sector-profiles/gems-jewellery.pdf
& KPMG ANALYSISRustomjeeBusinessSchool
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Gems And Jewellery Gems and Jewellery is an important
emerging sector in the Economy. Ranked among the fastest growing sectors, it is also a leading sector for foreign exchange generation.
Major Segments The sector comprises of two major segmentsGoldComprises around 80% of the Indian jewellery
market, balance comprising fabricated studded jewellery (Diamonds and Gemstones).
High levels of manufacturing and domestic consumption.
DiamondsWorld's largest cutting and polishing Industry
for diamonds.Well supported by the banking sector and
government policies.Export potential for polished diamonds /
finished diamond jewellery.
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Gems & Jewellery Industry
•One of the fastest growing segments in the Indian economy with an annual growth rate of approximately 15 percent.
•The current market size of the Indian Gem & Jewellery Industry is US$ 25 Billion.
•Total export of gems & jewellery in the year April-March,2010 was 29081.11 with a 2.36% growth rate & 16.27% share in the total export.
•The domestic market was guessed to be approximately USD16.1 billion in financial year 2009.
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Cont…
•Consumes nearly 800 tones of gold that accounts for 20 percent of world gold consumption, of which nearly 600 tones go into making jewellery.
•India's strength lies in the 2 million highly skilled workforces in the country in the gem & jewellery sector, out of which 1 million are exclusively engaged in export production.
•The Gem & Jewellery Industry has started showing positive signs of revival and growth.
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Major Exporters in India• Raghunandan Prasad & Sons • S. Zaveri & Sons Jewellers • Jagdish & Sons • Riby Gems And Fashion Jewelry • Bn Ghosh & Co. • Maruti Jewellers• Millenium Star• Silver Stone• Shri Radhey Chain• Dd Jewellers
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Rising Demand of Gold
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Decesion To Enter International Market
As a supplier (NAZAKAT)
B2B
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Swot Analysis
Strength:
•Traditionally highly skill design.
•Skilled jewelry designer.
•Uniqueness and variety of design.
•Indigenous availibity of raw material.
Weakness:
•No established brand.
•Lower margin.
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Swot Cont…Opportunity:
•High population of Indian available
abroad.
•Changing trend to traditional wear.
•Indian culture.
•Availability of many branded shop.Threats:
•High chance of getting imitated
•Substitution
•Gold rate and market rate fluctuate. RustomjeeBusinessSchool
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Which Countries To Enter?
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Most Preferred United States UAE Hong Kong
Japan Singapore
Germany
Selective New Zealand
Australia Nigeria
Selective Nepal
Sri Lanka
Brazil Turkey
Less Preferred
Pakistan Afghanistan
China Bangladesh
Israel Lebanon
High
Opportunity
Low
Low Risk High RustomjeeBusinessSchool
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Most Preffered
•Cultural interests.
•Attraction for traditional attire.
•Large no of potential consumer.
•Changing trend.
•High Demand of Indian Jewellery
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Less Preffered
•Trade restriction.
•Political issues.
•Religion compliant.
•Unfavorable environment.
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Selective With High Opportunity•Less Charm of Gold
Jewellery
•Low Population
•More use of Imitation
Jewellery
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Market Identification And Targeting
Waterfall ApproachGroup 1-
USA - Sterling Jewellers, Signet
Jewellers, Morellato.Uae - Pure Gold, Liali,
Treasure.Japan - Vendome Aoyama,
Mikimoto, Shinko Studio.Singapore – Arizma,
Ansari Gems, Ametrine Jewellery.
Group 2 –China - D Gold, Adeka Jewellers, Jacky Gems
JewelleryPakistan – ARY Jewellers,
AFZAL Jewellers, Hanif Jewels, Damas JewellersAfghanistan – Karimi Gold Jewellery, Zarina
Jewellery, Aayenda Jewellery.
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Entry Mode
•Indirect export: Export trading
companies (ETCs)
•Joint venture with Branded retail
outlet and boutique.
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Distribution Channel Decision
Manufacturer
Agent (intermediate
ries)Retailer
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Market Promotion Decision
•Online: Through a website.www.jewelleryshop.com.Vouchers.Special gift hampers.
•Campaign: for 6months.(24 carrot,22 carrot)On purchase of ½ kg –making charges slash down to 50%.On purchase of 1 kg and above – NO making charges Rustomjee
BusinessSchool
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Market Promotion Cont…
• Participation in Exhibitions of international market : Of ethnic Indian wear jewellery.(REED Exhibition)Garderobe – RussiaIJK – JapanLuxury –united statesIjk –london
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Presented By
RustomjeeBusinessSchool
Jagdish Chauhan
Kanchan Yadav
Jai Sahrma
Neha Naqvi