Opportunity to Pandora Jewellery- Project
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Added on 2019-09-26
Opportunity to Pandora Jewellery- Project
Added on 2019-09-26
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1Slide1:Pandora Jewelry is the largest international jewelry maker and it has covered many countries around the world through its online and offline store. The company was found by a Danish goldsmith in Copenhagen in 1982. The company has more than 10,000 retailers in 70 countries. The sales data from the year 2011 was astonishing as more than one piece of the company’s product was being sold every second. The growth story of the company is appreciable. However,one crucial jewelry market company has ignored till date is India.Slide2: IntroductionTo attain the sustainability and the competitive edge along with the maximization of profitability for the longer period of time, the organizations have to change their way of working and further explore 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 market of 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 is focusing on the diamond and gold and the youngsters of the country are highly influenced by the western culture and the brands and they are more attracted towards the silver jewelry.Slide3: BackgroundThe project’s aim is to understand the opportunities which are being available for the Pandora jewelry in order to enter the market of India by understanding the environment of jewelry in that particular country. Also, by analyzing the competitive edge of Pandora as compared to the international and the national jewelry organizations in the country.
2RESEARCH QUESTIONWhat are the opportunities available for Pandora Jewelry to enter into Indian market directly?Slide4: objectivesThe 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.Slide 5: methodsIn this research project, the two types of the methods are being used in order to gather the information i.e. secondary and the primary method of research. Further, the primary method of research includes the collection of the data along with the assessment in order to reach the realistic results for the better understanding of the client. Moreover, the secondary research is known as the desktop research in which the various sources through online are being accessed in order to meet the objectives of the research. The combination of the secondary and the primary methods of research ensured that the objectives of the research are successfully met. This enabled the approach of flexibility to collect the data and achieve the objectives. Also, the data was gathered from the survey and was analyzed by using the statistical tool i.e. MS excel and
3were further represented in the form of charts and the graphs for the better understanding of the client. This approach helped in determining the factors which are closely connected to the failureor the success of the businesses in the jewelry market of the country i.e. India. The analysis of the data was conducted relying on the kind of method which was used to gather the data. It is being observed that the strategy of gathering the data and the responses is appropriate for this project and help the company Pandora to enter the jewelry market of India by satisfying the younger generation.Slide 6: findingsThe key findings of our research project are as follows:The internal and the external analysis supported in evaluating the understanding the environment for the Pandora in order to expand the business and enter the Indian market of jewelry to target larger segment of the audience. The analysis was done by using PESTEL and SWOT.The information which is collected from the primary source is helpful for the company asit helps in understanding and analyzing the perception of the customers towards the silverjewelry which is offered by Pandora through online and offline.Slide7: continueIt can be understood from the above interpretation that 27 respondents agreed to the question that people prefer lightweight and the fashionable silver jewelry in comparison to the diamond and the gold jewelry. Further, 6 respondents strongly agree to it. Whereas,14 respondents disagreed to the questions and 4 of them were neutral.
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