Transcript File - Priyanka Sampat

Govindji’s
Marketing
Alan Daniel, Priyanka
Sampat, Thang Duong,
Nebiyu, Adam Nuffer
HISTORY/BACKGROUND

22 K Gold and
Diamond Jewelers




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Top 6 best watches in
the world
1957-First watch repair
store
1961-Purchase of
official Rolex store
1982-Introduced 22 K
jewelry to DFW
2013-Largest in the
nation
PROBLEM
 Misunderstanding
of the customers’
needs

Poor, misdirected
marketing
TARGET AND SEGMENTATION

TARGET:

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Segmentation:



Indian Population
Mid 20’s – Early 40’s
45 and up
Underlying Needs:


Good quality gold
jewelry, honest
pricing
Personal & Cultural
reasons
WHY?

Why do Indians
purchase gold over
diamonds?


Observations
Facts



India is world’s largest
consumer of gold.
Essential part of
religious holidays and
festivities.
2011- 933.4 tons of
gold was bought
WHY?
 Facts

Significance of
gold
 Auspicious
sentiment
 Investment
 Symbol of wealth
 Mentioned in
religious book
SWOT

Strengths:
 Reputation of unparalleled
quality, attention to detail
and singular innovation in
Indian jewelry designs
which adds to a powerful
brand image.
 Loyal consumer base

Weaknesses:
 Poor understanding of
consumer needs/wants.
 Trying to impose unwanted
products on consumers.
 Poor marketing due to
poor understanding of
consumer wants.
SWOT cont…

Opportunities:


Younger generation is
more inclined.
Rise in economy
 Competitor’s


Threats:


If current marketing
methods continue, the
company will not be
relevant.
Competitors are actively
and aggressively
marketing.
Video
http://www.youtu
be.com/watch?v=
BeWpD7T-7YQ
PRODUCT

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



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No re-used jewelry
916/22K stamping
6 top best watches in
the world
Top quality diamonds
Gold
Various styles
Service
Brand name

“Official Rolex dealer”
PRICE
 Based
off of the
market price




Tax
Import duty
Labor
Profit
 Last

call section
Too many in the
inventory
PLACE
 Highly
visible
 Luxurious and
appealing
 12,000 sq. feet,
largest store in
nation
 In the midst of
Indian hub
PROMOTION
 CURRENT:



Main focus on
watches
Magazines mainly
have watches
Second goal on
diamonds
PROMOTION
AGE GROUP:
Mid 20’s-Early
40’s
45 and above
PREFERRED
MARKETING
Social media
and cultural
events
Magazine and
cultural events
TYPE OF
PURCHASES
Smaller Items
(earrings, rings,
etc..)
Bigger Items (full
sets, set of
bangles, etc…)
Reason for
Purchase
Personal and
Religious
Personal and
Religious
Preferred
Environment
Straight Forward
Bargaining
Power
PROMOTION
 RECOMMENDED:


Sponsorship at
cultural events
Raffles at events
 Social
Media
Marketing
CONCLUSION



Govindji’s marketing
needs to target the
gold buyers.
This needs to be done
to stay in business and
compete well.
Suggestions are:



Sponsor cultural
events
Advertise gold jewelry
in magazines
Get on the social
network
BIBLIOGRAPHY
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http://www.govindjis.com/files/history.aspx
http://global.factiva.com.libproxy.utdallas.edu/aa/?ref=AFPR00002
0130131e91v006bt&pp=1&fcpil=en&napc=S&sa_from=
http://www.moneycontrol.com/news/gold/7-reasonsindians-lovegold_696046.html
http://www.gold-eagle.com/editorials_98/madhok101598.html
http://www.manfromindia.com/2007/12/who-do-indians-lovegold.html
http://www.resourceinvestor.com/2006/04/26/indians-purchasingmore-gold-than-disclosed-by-the
http://www.lexisnexis.com.libproxy.utdallas.edu/lnacui2api/results/
docview/docview.do?docLinkInd=true&risb=21_T17137999196&for
mat=GNBFI&sort=BOOLEAN&startDocNo=1&resultsUrlKey=29_T17138
001505&cisb=22_T17138001501&treeMax=true&treeWidth=0&csi=82
00&docNo=17