logo

Factors Impact Global Jewellery Industry : Report

   

Added on  2020-07-22

12 Pages3206 Words1378 Views
International Marketing

Table of ContentsINTRODUCTION...........................................................................................................................3Question.1 .......................................................................................................................................3Factors that impact the global jewellery industry.......................................................................3Question 2........................................................................................................................................4Internal business environment of H. Samuel using Porter’s Value Chain..................................4Question 3........................................................................................................................................6Evaluation of different markets and selecting one .....................................................................6Question 4........................................................................................................................................7Recommend an appropriate mode of entering your chosen country and justify your choice....7Question 5........................................................................................................................................9Analysis of Indian socio - culture factors and marketing mix....................................................9CONCLUSION..............................................................................................................................10REFRENCES.................................................................................................................................11

INTRODUCTIONInteractional marketing is a process through which a firm operates in morethan one country. Gems and jewellery sector is one of the most broad market inwhich trading across countries take place. H. Samuel is a big chain dealing inJewellery business from a very long time. It is one of the most likely brand forpeople of U.K. and therefore its contribution in total economy of country issignificant. Following report is prepared in order to understand various factors thateffect cited business by doing PESTLE and SWOT analysis of same (Czinkota andRonkainen, 2013). Also the succeeding study will enable learner to enhance theirknowledge about how cited company can enhance its market in different countrieslike India, China, Nigeria and Thailand.Question.1 Factors that impact the global jewellery industryIn order to analyse the macro cause that has their effect on ornament sector PESTLEanalysis of same needs to be done which is given below:Political (P) – These are very important factors as they bring direct impact on functioning of thisbusiness. Though political surroundings do not fluctuate much this business can continuesmoothly in international market. It gets affected by various taxes that are imposed on primeproducts as behaviour of customer changes with alteration in revenue enhancement. Apart fromthis it also gets affected when laws related to export and import of stones are modified.Economic (E) – Capacity of customer to buy is the most important factor that effect purchasingof products in this business. Alteration in customer duties has brought positive change in citedindustry. Also after relaxation in import and export of gold expansion is done in jewellerybusiness (Berthon and et. al., 2012).Social factors – as these days ornaments have become a part of status symbol demand for samehas raised. After hike in price of gold consumers prefer to invest more in stones and diamonds.All these trends keep fluctuating demand by customers.

Technological – With increase in trend there was a need to develop this profession and thereforehighly skilled labour are necessary so that total cost can be minimised. Introduction ofdeveloped tools and machinery helped cited industry in giving tough competition.Legal factors – there are various favourable moves taken by legal authority so that diamondbusiness can flourish (Yang, Su and Fam, 2012).Environmental factors – This industry full fills all its responsibility towards surroundings whilemining and selling of their products. Although this business is affected by the health issues ofthose working with them as their safety is at question when operating with big machinery.Apart from these there are also various competitive factors that impact the globaljewellery industry like which can be understood through Porter forces analysis. It is a guidelinewhich shows level of competition in a particular industry. Threat of new entryCartel character has made it impossible for fresh companies to enter in thisindustryMerger between various medium scale organisation is taking place to get into thisbusinessNegotiation ability of providerNew entries come with major drawback of increased supplyIt promotes stock keeping which results into increase in negotiating power.Bargaining strength of customerLess negation power was given to buyersAfter economic problems this industry faced fall in priceQuestion 2Internal business environment of H. Samuel using Porter’s Value ChainAs the cited industry is engaged in business where a number of activities are performedwhich may be classified into primary or supportive tasks. In order to understand the internalbusiness environment of H. Samuel action performed in same are given below and than swotanalysis of same is also done in order to understand analyse its strength and weaknesses.Primary activities

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Elements of Marketing Process in H Samuel : Report
|14
|3946
|54

Corporate Strategy and Responsibility
|16
|3936
|465

Business Level Strategies: Policies for FDI and Industry Enhancement in Kuwait
|9
|2180
|192

PESTLE Analysis and Diamond Model for Suzuki Motor Corporation
|6
|717
|408

Impact of Production costs on the mining profitability in Australia
|28
|4741
|356

Pestle Analysis on H&M
|6
|709
|90