Marketing Strategies of Jewellery Intermediaries
Marketing strategy is a set of objectives, policies and rules that guide a firm's marketing efforts. Marketing strategy is the complete and unbeatable plan designed specifically to achieve the objectives of the firm. In a jewellery market where the gold prices have risen to a great extent, marketing strategies are designed by jewellers to stimulate the desire of the customers to buy gold jewellery and to retain the existing consumers. Formulation of marketing strategy consists of three steps. They are STP - Segmentation, Targeting, Positioning and assembling the marketing mix. Market Segmentation Market segmentation is the process of grouping of buyers who have common characteristics, so that their needs are better served. Jewellery market is segmented on the basis of gender, that is, male and female. Market Targeting Market targeting is the process of taking decision regarding the market to be served. Target market mean...