44. consultancy project.

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CONSULTANCY PROJECTTo understand the opportunities available for Pandora jewelry toenter into Indian market directlySTUDENT NAME:STUDENT ID:DATE:
1AbstractThe research is being conducted to understand and analyze the opportunities which are availablefor the Pandora jewelry to further expand its operations by entering directly to the Indian market.Further, the research will show that how the Pandora will be able to explore the opportunities ofthe new market which mainly deals with the jewelry of gold and diamond despite being orientedto the silver jewelry only. Pandora has offline and online operations in order to provide theproducts to the customers. Moreover, the research was being conducted by utilizing secondaryand primary methods of the research along with the tools of marketing in order to understand theexternal and the internal environment. The results which are gathered from the respondents arebeing interpreted in the form of graphs and the charts. Also, our consultancy company providedbest and appropriate solution to the customer as per their requirements.
2Contents1.Introduction.........................................................................................................................................3Research aim..........................................................................................................................................4Research objective.................................................................................................................................4Identified research question..................................................................................................................42.Literature review.................................................................................................................................53.Methodology.....................................................................................................................................10Philosophies..........................................................................................................................................10Strategy................................................................................................................................................12Design...................................................................................................................................................13Implementation....................................................................................................................................144.Data collection, analysis, discussion..................................................................................................15SWOT Analysis....................................................................................................................................15PESTEL Analysis................................................................................................................................16Survey analysis....................................................................................................................................185.Conclusion and recommendation......................................................................................................316.Reflective report................................................................................................................................347.REFERENCES......................................................................................................................................368.APPENDICES.......................................................................................................................................40Questionnaire.......................................................................................................................................40Ethical approval form.........................................................................................................................41
31.IntroductionTo attain the sustainability and the competitive edge along with the maximization of profitabilityfor the longer period of time, the organizations have to change their way of working and furtherexplore the new opportunities to expand their business and create a strong market presence.Furthermore, Pandora is planning to enter the market of India as it is one of the greatest marketof jewelry across the globe. The Pandora wants to open around 50 shops in the coming four yearsin order to expand the business. Pandora is targeting the market of India because the country isfocusing on the diamond and gold and the youngsters of the country are highly influenced by thewestern culture and the brands and they are more attracted towards the silver jewelry(PANDORA. 2017). This will be a great opportunity for Pandora to expand the business in themarket of India by targeting the youngsters. Moreover, jewelry is being defined as the statementof fashion which is becoming popular among the customers. It is being observed that the countryholds high potential for the company in order to explore the available opportunities and createstrong presence in the Indian market. Further, the companies should keep on experimentingaccording to the change in technology and the time to achieve the sustainability by developing abase of customer loyalty. Furthermore, the background of the project will be demonstrated andthe literature review will be shown that is being developed by gathering the information throughsecondary research i.e. journals, articles, etc. Also, methodology will be shown that willdemonstrate the strategies, philosophies and the design that is used in successfully conductingthe research. The section of data analysis will demonstrate the interpretation of the data in theform of external, internal and the survey analysis which will show that what opportunities areavailable for Pandora and to what extent the company can expand its business in the market of
4India. Further, recommendations will be created accordingly in order to improve the strategies toenter the Indian market and also develop a strong presence in the Indian market of jewelry.Research aimThe project’s aim is to understand the opportunities which are being available for the Pandorajewelry in order to enter the market of India by understanding the environment of jewelry in thatparticular country. Also, by analyzing the competitive edge of Pandora as compared to theinternational and the national jewelry organizations in the country.Research objectiveThe objectives of this particular research are given below:1.To assess the current situation of the company in the International market.2.To understand the Jewelry environment of India.3.To analyze the competitive advantage of Pandora in comparison to other national andinternational jewelry companies in India.4.To identify strategies that will be suitable to enter and expand in the Indian Jewelrymarket.5.To recommend improvements based on the overall assessment.Identified research questionWhat are the opportunities available for Pandora Jewelry to enter into Indian market directly?
52.Literature reviewAccording to (Robson, C. 2002), it is being observed that there is the market for the silverjewelry if it is being aimed at the generation of the youngsters who wants to purchase thefashionable and the light jewelry. It is the correct time for the companies to enter the market ofsilver jewelry as it has initiated to take off. Further, the Indian market of jewelry is witnessing agreat shift in screening the types of jewelry from the initial investment to the appealing artisticornaments. The focused is being shifted to the unique style of designs. The customers of Indiaare experimenting with the new and innovative designs along with the light weight jewelry ratherthan heavy weighted gold and diamond plated jewelry. Furthermore, it is being observed thatsince the year 1990, the taste and the preference of the customers are changing towards the typeand the design of jewelry. The women are opting for the lightweight and the fashionable Jewelryrather than the chunky traditional Jewelry. There is the continuous rise in the demand for thelightweight and the fashionable Jewelry. Furthermore, the customers prefer silver Jewelry moreas compared to the diamond and the gold Jewelry (Titova, A. 2011). Also, it is being observedthat the branding provides customers great confidence in order to make the decision forpurchases and get satisfied with the products. The recognition of the brand helps the retailers toattract the customers to a great extent and maximize the sales by providing the unique andinnovative products to the customers at the affordable prices by satisfying them. Further, theindustry of Jewelry has seen the light of branding and initiated to harness the power in order tosell the silver Jewelry.Further, (Boyd, D. R. 2015)stated that the industry of silver Jewelry is still at the stage ofinfancy in some of the countries but, the maximized rates of growth demonstrate that in the shortperiod of time it would corner a marker’s great chunk. Moreover, the branded silver Jewelry has
6sculpted a niche in the tough market of India, and further, the suppliers are aiming to expand thecustomer demand for the silver Jewelry in the content of expanding competitiveness and attainthe sustainability. Furthermore, it is being observed that the Indian market of Jewelry and gemspossess the great potential for the purpose of expansion in future. The market of India has anadditional advantage of the reduced cost of production along with the labor which is skilled andfurther distinguishes it from the competitors. According to the change in dynamics, the jewelersare trying to jump on the wagon of the brand by investing in the advertisements and furtherattempting to develop a presence in the customer’s perception. (Titova, A. 2011)stated that thesilver jewelry had become an essential part of people. Nowadays, the customers are purchasingbranded silver jewelry that further creates the statement of fashion and expresses theindividuality. Jewelry is becoming a passion for the customers as they look for the contemporarystyles and designs at the affordable prices. The concept of silver jewelry has taken a great swingin the various countries, for example, India. The demand of the lightweight and the fashionablesilver jewelry is rising and is further influencing the customers of the age group 16 to 27 who hasregarded silver jewelry as the accessory rather than the investment (Saunders, M. N. 2011). Themillennium has witnessed the great change in the taste and preferences of customers.According to (Rowley, J. 2002), it has been demonstrated that the market for Indian jewelry is inthe phase of transition with the customer's desire for enjoyment of jewelry for the appeal ofaesthetic rather than the investment form. Some researchers conducted research to furtherunderstand the changing needs of the customers along with the aspirations and the motivations ofthe customers towards the market of jewelry along with the identification of new opportunitiesand trends. The conclusions which were observed from the research were like the generation ofthe youngsters were looking at the contemporary and the trendy jewelry and avoiding the
7traditional and the heavy jewelry of gold and diamond. Secondly, the customers wanted abroader selection at a convenient and individual location along with the great experience ofinternational shopping (Kotler, P. 2006). Thirdly, the customers were willing in order toexperiment with the new and innovative designs according to the change in time and thetechnology. They also stated that the branding is the trend which is irreversible as it provides thecustomer a degree of satisfaction and confidence that they are purchasing a high-quality productof jewelry. It is being observed that the jewelry industry has achieved great success from the pastyears because of the maximized demand of the lightweight and the fashionable jewelry (Jain, P.2016). Further, the import and the export of the jewelry has also been improved to a great extent.The one of the largest manufacturers of the jewelry in India is the Gitanjali Group, and itmanages the four top known brands of the jewelry. The company is unique and innovative alongwith the structured branding and positioning which further endows with the innovative andunique character and persona of the brand.Researcher (Singh, J. 2015), stated that the jewelry is the kind of accessory which includes,rings, watches, necklaces, bracelets, earrings, etc. Jewelry can be designed from the variety ofdistinct categories. Initially, jewelry was made from the teeth, bone, and shell around 1, 00, 000years ago. Later, stone, beads, and gems were incorporated. Egyptians started using metals andgold in order to make jewelry which was being considered as the symbol of wealth and power.Furthermore, brands have boosted jewelry with great values including excitement, sexiness andthe fashion rather than the only glamor. It is also being observed that if the customer wants to getassociated with such values, then he is only looking for the branded, lightweight and thefashionable jewelry (Luís, M. S. G. 2015). The Indian market of jewelry has created strides inthe design which are being powered by the generation of youngsters, trained professionals and
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