Singapore University Marketing Management Group Report MKT202

This report provides a detailed analysis of the SK Jewelry Group from a marketing management perspective. It begins with an introduction to marketing management and then presents a case study of SK Jewelry Group, a popular jewelry firm in Singapore. The core of the report focuses on the application of holistic marketing, discussing its four key components: internal marketing, integrated marketing, performance marketing, and relationship marketing. Each component is thoroughly examined in the context of the SK Jewelry Group, with examples of how the group can leverage these components to enhance its business, expand its international presence, and improve customer engagement. The report concludes that while the group is making strides in various areas, it can benefit significantly from a more strategic and comprehensive approach to marketing, particularly through the adoption of holistic marketing principles to gain a competitive advantage. The report also references relevant academic literature to support its analysis and recommendations.

Running Head: MARKETING MANAGEMENT
1
[Marketing Management]
[Institute]

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Table of contents
INTRODUCTION...........................................................................................................................3
QUESTION 1:.................................................................................................................................4
Analysis of SK Jewelry Group and discussion of four components of holistic marketing.........4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

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INTRODUCTION
The process of analyzing, planning, implementation and controlling the programs which
are designed to promote the products or services is called as marketing management. There are
various strategies such as digital marketing, holistic marketing, commercial marketing and many
more for informing customers about the new commodities, their features and qualities (Deepak
& Jeyakumar, 2019). For the present file, given case study of SK Jewelry Group is taken into the
consideration. In context to this, the file includes discussion of four components of holistic
marketing.
QUESTION 1:
Analysis of SK Jewelry Group and discussion of four components of holistic marketing
According to the given case study of SK Jewelry Group, it is one of popular jewelry
firms in Singapore. It possesses retail network of approximate 60 stores in different nations like
China. The Group’s retail brands involve Soo Kee Jewelry and Love & Co. Along with this, SK
Bullon is also part of the group which helps it in distributing metals in Singapore, Malaysia and
Indonesia. The major objective of the Group is to enhance its business at the international level
at both online and offline platform. In order to this, the group is paying attention on its human
capital and talent pool. Holistic training program is also conducted by the company for grooming
its staff with the required skill. Along with this, the group believes in developing mutually
beneficial partnership which allows it to leverage the complementary strengths, network,
customer base and knowledge of market of the partners. SK Jewelry Group is first to partner
with Sarine Technologies in Asia for launching the digital Sarine Light Performance diamond
grading report. In addition to this, the group also partnered with De Beer’s International institute
of Diamond.
According to the case, Group is working continuously for expanding its business. The
strategies and approaches of the Group are helping it in enhancing its international presence,
profitability and number of customers. The firm is paying attention to digital platform for
improving the processes of producing jewelry. E-Commerce platform is used by the company for
providing omni-channel shopping experiences to its customers. The Group is focusing on each
and every aspect like training, recruitment, technology and many more. However, SK Jewelry

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Group needs to focus on marketing activities for promoting its different products among the
customers belonging to the different nations. The Group is also focusing on creativity and
changing demands of the customers for providing them commodities beyond the expectations.
Nevertheless, there is lack of appropriate marketing strategy for informing clients about the
different items and encouraging them to purchase them (Huang & Rundle-Thiele, 2015).
Holistic Marketing:
Nowadays, marketing strategies are used by the companies for informing their customers
about their commodities and influencing them to purchase them. Holistic marketing will help
Group in developing, designing and implementing the effective and efficient marketing programs
and activities. This marketing type will make manager of the Group to use each and every type
of marketing concept which can help in satisfying the consumers. The manager will consider
values, ethics, passions and concerns of the individuals included in the firm, processes and
products while using holistic marketing approach. SK Jewelry Group will able to grow its
business effectively at international level by this marketing because it will make it to develop
value for both, the buyer and seller. Along with this, holistic marketing will make Group to use
the four components of holistic marketing for achieving the desired goals and objectives
(Sidorchuk, 2016). These components are as follows:
Internal Marketing: This component includes internal management system, marketing
department and collaboration of marketing department with the others. This marketing will make
Group to pay attention on its internal working environment and marketing activities. The group
will able to hire marketing team and train them for creating effective and creative marketing
campaigns. This will also help firm in removing the issues and improving the marketing
activities (Rakic & Rakic, 2015).
Integrated Marketing: This component of holistic marketing includes product strategy, pricing
strategy, promotion strategy, communication strategy and placing strategy. By using these
strategies, SK Jewelry Group will able to select appropriate price and place of products. The firm
will use digital marketing for promoting its products among the customers (Homburg, Jozić &
Kuehnl, 2017).

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Performance Marketing: This component consists of the activities such as ways to sell the
commodity, legal and ethical responsibilities for the items, brand and customer equity and many
more. This component will make SK Jewelry Group to evaluate its marketing processes for
selling the products leading to enhance the performance. This component will help firm in
reducing the risk, focusing on ROI and tracking the performance easily. It will make Group to
measure everything from brand reach to the conversion rate down (Kilian, 2016).
Relationship Marketing: This consists of relations with consumers, partners, workers and
competitors. This marketing component will make Group to develop strong bond with the
consumers and partners. Along with this, the company will able to enhance its relation with the
employees leading to increase their job satisfaction. It is important to maintain the relations with
the customers, partners and other stakeholders for maintaining the trust, positive brand image
and loyalty (Holistic Marketing: Bringing Everything Together. 2019).
Thus, combination of all these marketing components will make SK Jewelry Group to
pay attention to every aspect of marketing such as department, staff members, promotion and
other activities. The firm will able to achieve its objective of growing the business by
emphasizing on the customers and including the whole system for generating the maximum
value (Luxton, Reid & Mavondo, 2015).
CONCLUSION
From the above study, it is concluded that SK Jewelry Group is working on every aspect
from expanding its business. However, the company lacks marketing activities and due to this,
holistic marketing is appropriate. The four components i.e. internal marketing, relationship
marketing, performance marketing and integrated marketing will help firm in considering all
marketing aspects for promoting the products and influencing the clients to purchase them. Apart
from this, the holistic marketing will make SK Jewelry Group to gain the competitive
advantages.

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REFERENCES
Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.
Holistic Marketing: Bringing Everything Together. (2019). Web. Retrieved Through:
<https://ninjaoutreach.com/holistic-marketing/> on 22nd September 2019
Homburg, C., Jozić, D., & Kuehnl, C. (2017). Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science, 45(3), 377-401.
Huang, Y. T., & Rundle-Thiele, S. (2015). A holistic management tool for measuring internal
marketing activities. Journal of Services Marketing, 29(6/7), 571-584.
Kilian, K. (2016). Experiential marketing and brand experiences: A conceptual framework.
In Memorable customer experiences (pp. 45-64). Routledge.
Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability
and brand performance. Journal of Advertising, 44(1), 37-46.
Rakic, B., & Rakic, M. (2015). HOLISTIC MANAGEMENT OF MARKETING
SUSTAINABILITY IN THE PROCESS OF SUSTAINABLE
DEVELOPMENT. Environmental Engineering & Management Journal (EEMJ), 14(4).
Sidorchuk, R. (2016). Holistic Marketing Concept For Small And Medium Businesses. Annals of
marketing-mba, 2.