The Marketing Functions of Pandora, the Jewelers

Marketing mix elements 4 3.1 Product strategy 4 3.2 Price strategy 5 3.3 Place strategy 6 3.4 Promotion 7 3.5 Partnership 8 3.6 Process 9 3.7 People 10 3.8 Physical evidence 11 4. Marketing mix elements 4 3.1 Product strategy 4 3.2 Price strategy 5 3.3 Place strategy 6 3.4 Promotion 7 3.5 Partnership 8 3.6 Process 9 3.7 People 10 3.8 Physical evidence 11 4. Introduction Marketing of a product is a crucial step that is undertaken by the organizations to promote the product in the target market and make use of the different elements

Running head: MARKETING A PRODUCT
MARKETING A PRODUCT
Name of the student
Name of the university
Author note

1MARKETING A PRODUCT
Executive summary
The report aims at evaluating the manner in which the marketing functions of Pandora, the
jewelers, to bring in sustenance and expansion in the international markets. The marketing 8 Ps
that are being enumerated as a part if the report helps in identifying the issues that are faced by
the organization in the macro level of their functioning. On the other hand, the report also
enumerates the recommended actions that might be undertaken by the business to bring in
continuous changes and improvements in the systems.

2MARKETING A PRODUCT
Table of Contents
1. Introduction..................................................................................................................................3
2. Target market...............................................................................................................................4
3. Marketing mix elements..............................................................................................................4
3.1 Product strategy.....................................................................................................................4
3.2 Price strategy.........................................................................................................................5
3.3 Place strategy.........................................................................................................................6
3.4 Promotion..............................................................................................................................7
3.5 Partnership.............................................................................................................................8
3.6 Process...................................................................................................................................9
3.7 People..................................................................................................................................10
3.8 Physical evidence.................................................................................................................11
4. Recommended actions...............................................................................................................12
5. Conclusion.................................................................................................................................13
References......................................................................................................................................14

3MARKETING A PRODUCT
1. Introduction
Marketing of a product is a crucial step that is undertaken by the organizations to
promote the product in the target market and make use of the different elements of the mix to
make the product available to the customers in the market. The different key elements of the
marketing mix help in ensuring the proper marketing functions undertaken by the organizations
while operating in the international markets. Pandora manufactures hand-finished jewellery
from high-quality materials and the best part is that the company delivers the products at an
affordable range, which has helped in the expansion of the business in more than 100 countries
through 7,800 points of sale. Pandora’s total revenue for the year 2017 was around US$ 3.65,
which reflects the smooth functioning of the processes of the business in the market
(Pandoragroup., 2018). The report aims at discussing the marketing mix elements that is
considered by the jewelry manufacturing company Pandora and thereby makes recommendation
by which the company can bring in improvements in the marketing functions. The report on the
marketing mix will be aimed at a single product, the charms bracelet for women.
The purpose of the report is to determine the different marketing mix elements of the
organization Pandora and thereby make recommendations to bring in improvements in the
marketing mix elements of the products that are manufactured by the organization. The
identification of the different flaws in the marketing mix elements will be helping the
organization to make its products more widely acceptable in the contemporary market through
the utilization of proper promotional techniques (Kozlenkova, Samaha & Palmatier, 2014). The
differences in the functions of the organization will be helping the organization to bring in

4MARKETING A PRODUCT
changes in the systems and the performance of the business while operating in the international
market.
2. Target market
The target market of the company, Pandora, is generally women whose age ranges from
18- 49 years. The male candidates of the society seldom buy the products that are manufactured
by the organization (Pandoragroup., 2018). The company undertook a survey and it was found
during the sampling that maximum customers that are experienced by the organization are from
high and medium income families with moderate or high educational levels respectively.
3. Marketing mix elements
3.1 Product strategy
The product strategy of the organization is dependent on the manner in which the product
can be made more attractive to seek the attention of the customers. The different strategies that
are utilized by Pandora adhere to the interests and the preferences of the female customers in the
market (Christopher, Payne & Ballantyne, 2013). The personalization strategy that is applied by
the organization for the products has helped the organization in maintaining a steady balance in
the product offerings and the fashion based needs of the female customers. On the other hand,
the personalization of the products has helped the organization in providing an option to the
customers of creating their fantasies in form of charm bracelets. The company offers the female
customers with a choice of personalizing their bracelet through utilizing sterling silver, 14K gold
or leather as per the preferences of the customers (Camisón & Villar-López, 2014). The
company also offers the customers with a range of charms that can be attached separately with

5MARKETING A PRODUCT
the bracelets. It helped the organization to provide the customers with a greater scope to buy the
product as per their preferences. The customization of the bracelets criteria has helped the
organization to adhere to the needs of the larger customer base while operating in the different
countries (Mulhern, 2013). The attractive covers and application of safe packaging techniques
has helped the organization to ensure the safe delivery of the product in the distant countries.
Branding, on the other hand, helps in maintaining the corporate communications while
undertaking the previously mentioned functions of the organization as per the identification of
the preferences of the customers in the market. The proper functioning of the business is
dependent on the functions related to branding and the management of the different aspects of
the change as per the needs of the market. The key elements of the change in the structure and
the performance of the business is dependent on the proper functioning of the different attributes
of branding and packaging of the products. Therefore, the physical evidence plays a major role in
convincing the customers of the brand image or the quality of the products and the services that
they might receive from the organization (Pride et al., 2012).
3.2 Price strategy
The organization utilizes the penetration pricing strategy for the bracelets, which has
helped the business to gain grounds in the different international markets. The strategy has
helped the organization to make their high quality bracelet available to the customers at an
affordable price. This has helped the organization to bring in changes in the situation of the same
while operating in the international markets. On the other hand, the introduction of the
personalization offers on the bracelets has helped the same in maximizing its benefits as female
customers often ordered for a bracelet that consists of additional charms. The company

6MARKETING A PRODUCT
discounted their purchase on the charms. For example, if a female customer ordered for a
bracelet, which is worth US$56.97 and the charm costing US$ 7.9, then the company simply
rounds off the figure to US$ 60. However, the offers are restricted to certain occasions, as it will
be helping the organization to make an increase in the sales of the products (Pandoragroup.,
2018). The penetration pricing has helped the organization to reach out to a larger customer base
while operating in the different countries with an undisputed quality. It helps in enhancing the
sales volume of the organization while operating in the international markets.
3.3 Place strategy
Pandora undertakes direct channels of distribution in most of the markets where the firm
itself takes the responsibility of making the products available to the customers in the respective
markets (Pandoragroup., 2018). The channels through which the organization undertakes the
distribution of goods helps in maintaining the different levels of changes in the performance of
the business while operating in the international markets (Grönroos & Gummerus, 2014). The
intensity of distribution of the products that are offered by the organization is dependent on the
demand of the customers in the specific markets. The organization has undertaken the selective
place strategy where the bracelets are made available to different retail outlets that are available
in the market through an assessment of the demand faced by the same. Apart from the online
distribution of the products, the organization has taken steps to make the bracelets available in
different selected retail stores in the operating market to influence the sales of the same
(Papasolomou & Melanthiou, 2012). The distributions of the products are dependent on the
identification of the demands of the customers and thereby deliver the products at the doorstep of
the customers of the organization. The proper functioning of the processes is dependent on the
identification of the ne4eds of the customers in the respective markets. The marketing strategy

7MARKETING A PRODUCT
will be helping the organization to focus more on the specialization of the products as per the
preferences of the customers and thereby deliver the same to them directly.
3.4 Promotion
The organization undertook promotion through the utilization of their web portal
(www.pandoragroup.com.) where they exhibited their collections of bangles, bracelets, rings and
the like. It offers the customers with a wide range of items from which the customers can make a
buy based on the preferences of the same (Christopher, Payne & Ballantyne, 2013). The
company has also undertaken steps to promote their range of products through the social media
platforms as they experience more traffic on the social media sites. Posting Pandora’s offerings
in the social media sites like Facebook and the like in the form of links helps in redirecting the
customers to their home page where the customers can come across different items and make a
buy on their preferences (Crouch & Housden, 2012).
The persuasive technique that is utilized by the organization has helped the same in
bringing forth changes in the systems of the business while operating in the market. The social
media platforms help the organization to make the maximum amount of the customers aware of
the product offerings (Kolb, 2013). On the other hand, the utilization of the different social
media platforms helps the organization in exhibiting their skills of manufacturing the most
appropriate jewelry depending on the identification of the preferences of the female customers in
the market. The social media integration is an important step that is undertaken by the
organization as it helped the same to retrieve feedbacks from the customers relating to the
products. It has helped the organization to bring in continuous innovation in the processes that
are performed by the business (Leeflang et al., 2014). The reviews that are given by the
consumers also help in making the people aware of the quality of the jewelry that is

8MARKETING A PRODUCT
manufactured by the organization in the market (García-Morales, Jiménez-Barrionuevo &
Gutiérrez-Gutiérrez, 2012).
3.5 Partnership
The chief partnership undertaken by the organization has helped in bringing forth
continuous progression in the processes and the product offerings of the business. Activities
undertaken by the organization include engagement with the Responsible Jewellery Council
(RJC), active membership of the United Nations Global Compact (UNGC), different strategic
business partnerships and community engagements (Pandoragroup. 2018). It has helped the
organization to function as per the legislative councils of the nations. On the other hand, the
company has undertaken steps to undertake strategic alliances with different gold and diamond
suppliers in the market. The organization derive the leather for the bracelets from the Thai
Oriental Leather Co. LTD. It has helped the organization to provide the customers of the
business with high quality tensioned leather as per the requirements of the customers
(Pandoragroup. 2018). The strategic alliance helped the organization to deliver quality products
to the customers through an assessment of the needs of the same in the market. The diamond that
are used by the organization for the bracelets are derived from the B.H.C. Diamonds who are
famed for the polishing of the diamonds and their proper cutting technologies which helps in
enhancing the dazzling factor. The partnership that are held by the organization has helped the
same in sharing the amount of market risks equally with the partners which assists the
organization to bring in continuous changes in the processes (Wilson & Gilligan, 2012). The
key purpose of Pandora to engage in the partnership is dependent on the identification of the
market risk factors and the manner in which they can be mitigated through investments on the
processes of the business. On the other hand, apart from the sharing of the risk attributes,

9MARKETING A PRODUCT
Pandora has taken steps to form alliances through which they might be able to enter new
markets while expanding their enterprise in the macro levels. The expansion of the organization
in the different international markets will be helping the same to bring in sustenance in the
processes that are planned by the business (Theodosiou, Kehagias & Katsikea, 2012). On the
other hand, the strategic alliances will be helping the organization to cope up with the market
competition. The mutual gains of the strategic alliances and partnership with different players in
the market will be helping the organization to identify the needs of the concerned market more
precisely, which will be helping the enterprise to undertake steps to design its processes (Kotler,
2015).
3.6 Process
Figure 1: Customer buying process
(Source: Boone & Kurtz, 2013)
The processes that are undertaken by the consumers while making their buy h4elps the
organization to identify the different channels through which the customer involvement in the

10MARKETING A PRODUCT
processes can be maximized. The company, Pandora, has taken steps to integrate their systems
with the social media platforms where the company experiences a major traffic of customers
visiting their page (Sheth & Sisodia, 2015). The consumers who are visiting the social media
sites are made aware of the product offerings of the organization as per the preferences of the
customers in the market. The customers who are aware of the quality and the products that are
manufactured by the organization visit the company’s website where an array of jewellery is
exhibited. The consumer chooses from the line of products based on the preferences and thereby
makes a buy through an automated checkout (GUMMESSON, 2012). The whole process of the
checkout is kept confidential and it helps in providing the customers to make an online buy from
the website of the organization. The customer’s buying process helps the organization in
identifying the different needs of the customers and thereby bring in changes in the channels to
redirect the attention of the customers to the company’s product offerings. The company also
created the online portal to communicate with the customers directly, which will be helping the
same to assist the customers and retrieve their feedback on the products and the services to bring
forth improvements in the systems of the business.
3.7 People
Pandora’s consistent improvements in the global scenario are supported through the
engagement of the workforce and their smooth performance as per the objectives of the
organization (Pandoragroup., 2018). Therefore, the company has taken steps to undertake
relevant sessions and training with the employees to enhance their skill while working in the
processes that are designed by the organization in the market (Armstrong et al., 2015).
Enhancement of the skills of the employees will be helping the organization to bring forth
changes and modification in the systems bad the processes of the business as per the

11MARKETING A PRODUCT
identification of the needs of the female customers in the market. The organization is recently
facing issues relating to the resistances of the workforce as the employees stated that the
organization is overstuffing them with works that affected their work- life balance mostly
(García Medina, Farias Coelho & Bellido-Pérez, 2017). On the other hand, the employees are
also facing issues relating to the application of new technologies, which was not installed
previously. Training of the employees on the crafting of the jewelry and the manner in which the
quality of the products can be enhanced has helped the organization in maintaining the product
quality in the market pertaining to the goodwill of the same. On the other hand, the training on
the services and assistance to the customers will be helping the organization to undertake
systematic after sale services to the customers of the business. It will be helping the organization
to bring in continuous improvements in the systems of the business while operating in the
market.
3.8 Physical evidence
The physical evidence that is being used by the organization is dependent on the different
factors of the layout and branding that helps the organization to bring forth changes in making
the customers aware of the service quality and the other aspects (Khan, 2014). The layout of the
website and the manner in which the commodities are displayed affects the psychological needs
of the customers to buy from a renowned brand. On the other hand, the appealing display of the
website helps in attracting the attention of the customers to the products and thereby it helps in
maintaining the different levels of changes in the systems of the business (Ribeiro, 2015). The
organization has also taken steps to distribute the bracelets in the different selected retail outlets
in the market. The appealing display of the retail store helps in attracting the attention of the
customers. Most of the jewelries are exhibited in the retail store, which will be giving the

12MARKETING A PRODUCT
customers of the business to identify the expertise of the organization while manufacturing the
jewelries as per the preferences of the customers. On the other hand, the Physical store will be
incorporating members of the organization who will be providing the customers with an
overview of the organization’s product offering which will help in boosting the sales through
providing the customers with the idea of the offerings apart from the bracelets.
4. Recommended actions
The recommended actions that might be undertaken by the organization, Pandora, are
being discussed in this section of the report:
 Introducing 22K Gold and platinum among the metals that are used for manufacturing the
bracelets. It will be helping the organization to adhere to maximize the scopes of the
business in the market. On the other hand, the identification of the needs of the customers
is supported through the frequent analysis that is undertaken by the business in the
market.
 Undertaking ventures with retail stores and super markets for distributing their products
in the different operational markets of the organization. It will be helping the organization
in maximizing the scopes of the organization, as it will be helping the same to bring forth
changes in the productivity and the sales. The strategic alliances with the other players in
the market will be helping the organization to share and divide the risk factors and
thereby work efficiently to cope up with the market competitiveness. The strategic
alliance also enables the organization to bring in changes in the systems and the
performance of the businesses in the market.

13MARKETING A PRODUCT
 Training the employees and undertaking negotiations with the same will be helping the
organization to support the smooth performance of the business in the market. The key
elements of the change in the systems of the business is supported through the application
of negotiations and continuous sessions, which will be helping the organization to
mitigate the issues faced by the workforce while functioning as per the objectives of the
organization. The training of the employees relating to the change in the technology that
is adopted by Pandora will be helping the organization to make the workforce efficient in
their job roles.
5. Conclusion
Therefore, from the above analysis it can be stated that Pandora has taken steps to bring
in changes in the systems of the business through the involvement of the workforce in the
processes and the integrated marketing options. The identification of the 8 Ps of the marketing
mix will be helping the organization to bring in changes in the systems of the business to cope up
with the needs of the customers in the respective markets. On the other hand, the recommended
action that might be undertaken by Pandora will be helping the same to bring in continuous
innovation in the processes and improvements in the situating of the business. The technological
innovation that is planned by the organization and the strategic alliances will be helping the
business to bring n changes in the situation of the business. On the other hand, the continuous
innovation process depending on the change in the preferences of the customers in the market
will be helping the organization to expand in the international markets.

14MARKETING A PRODUCT
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