Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer

HISTORY/BACKGROUND 22 K Gold and Diamond

Jewelers 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:

Indian Population Segmentation:

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

Threats: If current marketing

methods continue, the company will not be relevant.

Competitors are actively and aggressively marketing.

Competitor’s Video

http://www.youtube.com/watch?v=BeWpD7T-7YQ

PRODUCT 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

PROMOTIONAGE GROUP: Mid 20’s-Early

40’s45 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 http://www.govindjis.com/files/history.aspx http://global.factiva.com.libproxy.utdallas.edu/aa/?ref=A

FPR000020130131e91v006bt&pp=1&fcpil=en&napc=S&sa_from=

http://www.moneycontrol.com/news/gold/7-reasonsindians-love-gold_696046.html

http://www.gold-eagle.com/editorials_98/madhok101598.html

http://www.manfromindia.com/2007/12/who-do-indians-love-gold.html

http://www.resourceinvestor.com/2006/04/26/indians-purchasing-more-gold-than-disclosed-by-the

http://www.lexisnexis.com.libproxy.utdallas.edu/lnacui2api/results/docview/docview.do?docLinkInd=true&risb=21_T17137999196&format=GNBFI&sort=BOOLEAN&startDocNo=1&resultsUrlKey=29_T17138001505&cisb=22_T17138001501&treeMax=true&treeWidth=0&csi=8200&docNo=17