Vivah: Location Strategy Project - Competitive Advantages and Analysis

This project report provides a comprehensive analysis of Vivah's location strategy, focusing on its marketing mix, competitive advantages, and potential for expansion. The report begins by examining the current marketing mix, suggesting strategies to retain existing customers and attract a new dem...Read More

VIVAH: LOCATION STRATEGY 1
A PROJECT REPORT
ON
VIVAH: LOCATION STRATEGY

Vivah: Location Strategy 2
Table of Contents
Question 1. Information and Marketing Mix...................................................................................3
Question 2. Competitive Advantages and Disadvantages...............................................................4
Question 3. Other Sites....................................................................................................................5
References........................................................................................................................................6

Vivah: Location Strategy 3
Question 1. Information and Marketing Mix
Vivah has been able to place its products in the market successfully through its unique marketing
strategy. With the changing market trends, Vivah must also develop a new marketing plan in
order to retain its existing customers and develop new customer base. To become acquainted
with the latest marketing trend, Vivah must seek information about its competitors and customers
in the market. This would help the brand to understand the need and requirements of the
customers and then cater it accordingly. A feedback form could be provided to every customer to
understand how they perceive the current services of the company.
Marketing Mix: 4 Ps
Marketing mix is one of the marketing tools being used by the companies to achieve their
marketing goals and objectives (Baker & Hart, 2016). Product, price, place and promotions are
the 4 Ps of marketing mix that assist in the development of marketing plan (50Minutes, 2015).
Product
Vivah offers a range of jewelry products that include earrings, bracelets, necklace and rings for
the age group of 35 – 55 years of ladies. Now, Vivah could launch a product range that would
cater to the young audience of age group 16 – 24 years’ ladies. Vivah could develop trendy
earrings, bracelets and rings that are preferred by the college students. Once the young girls are
attracted towards the Vivah jewelry, the company could also bring forth products such as
pendants, trendy chains, bracelet watch, hair accessories and other accessories of girls.
Price
The new range of products would be developed for girls of the age group 16 – 24 years. In order
to attract large number of college girls, Vivah must offer jewelry at very affordable prices that
these girls can buy. Since girls of this age group are either dependent on their pocket money
(from parents) or part time job, therefore, they cannot afford high prices for their accessories.
Thus, economical pricing strategy must be applied here as per the need and requirement of the
customer (Baines, Fill & Page, 2013).

Vivah: Location Strategy 4
Place
Most of the college girls look for great shopping experience and thus, prefer to shop in-store as
compared to a kiosk. It has been observed that the teen age girls are more fun loving and thus,
prefer to go to the malls with their friends for shopping (Rubin, 2017). Thus, Vivah must open its
exclusive girls store in a mall so that they feel acknowledged.
Promotion
The advertising would be carried out through digital media platform including email marketing,
SMS marketing and website marketing.
Target Segment Analysis
The girls of the age group 16-24 years would be the target market for Vivah’s new product
range. The girls seek to buy the latest trend jewelry at affordable prices and always look forward
to stay with the new designs in the market. Thus, Vivah’s new product range would provide a
stylish, simple and elegant range of earrings, bracelets and rings at economical prices in order to
meet the expectations of the target market.
Question 2. Competitive Advantages and Disadvantages
Advantages
Affordable Prices – Vivah offers stylish, simple and elegant range of jewelry products at very
affordable prices as compared to its competitors including Birks and Peoples and Suzy Shier &
Rietmans.
Low Marketing Budget – Vivah has been able to establish a huge network of customers through
its kiosk and in-store without investing much on advertising and marketing. The brand relies on
word of mouth publicity and retains its customers by offering high quality products and services.
Further, the brand promotes itself through its centrally located kiosks.
Disadvantages

Vivah: Location Strategy 5
New Retail Concepts – The retail market of jewelry is consistently evolving and innovating by
introducing new concepts of retail. This could hugely affect the sales of the company as the
brand relies it heavily on traditional marketing strategies.
Small Market Segment – Vivah only caters to the women of the age group 35-55 years due to
which it is not able to cater to the other groups of the market.
Reducing Disadvantages
New target market – Vivah could expand its market by catering to the girls of the age group 16-
24 years (Richter, 2012).
Introduce new retail concept – Vivah could introduce new retail concept wherein the exclusive
retail store is opened for the girls section (Richter, 2012).
Question 3. Other Sites
Online Selling – With the increasing advent of technology, the customers have become more
relying on digital media and Vivah could take advantage by selling and promoting its products
through Amazon.com, eBay.com and personalized website (Business Insider, 2017). The girls
and women now prefer to shop for their accessories online as it saves their time and money.
Exhibitions Display - Vivah could participate in exhibitions or run its own exhibitions in order to
promote and sell its products in different markets and regions. This would give the company a
global recognition and enhance its brand value.

Vivah: Location Strategy 6
References
50Minutes. (2015). The Marketing Mix: Master the 4 Ps of marketing. US: 50Minutes.com.
Baines. P., Fill, C., & Page, K. (2013). Essentials of Marketing. UK: OUP Oxford.
Baker, M.J., & Hart, S. (2016). The Marketing Book. London: Routledge.
Business Insider. (2017). Amazon accounts for 43% of US online retail sales. Retrieved from:
http://www.businessinsider.com/amazon-accounts-for-43-of-us-online-retail-sales-2017-
2?IR=T
Richter, T. (2012). International Marketing Mix Management: Theoretical Framework,
Contingency Factors and Empirical Findings from World-Markets. Berlin: Logos Verlag
Berlin GmbH.
Rubin, J. (2017). An Afternoon at the Mall With Some Teens. Retrieved from:
https://www.racked.com/2017/7/14/15961254/mall-teen-shopping