stakeholders
Internal stakeholders
The Internal Stake holders of this business include:
- Owner of the business (Claire Aristides).
- The employees and manufacturers of her jewellery.
- Claires future financially.
External stakeholders
The External Stake Holders of this business include:
- Supplier of her jewellery
- Customers are highly effected due to them putting an investment into their product hoping for a high quality product.
- Competitors can influence the product prices.
marketing
target market
Claire Aristides Fine Jewels attracts a large age range of women and gift buying men.
Claire Aristides Fine Jewels is providing precious gift giving opportunities and high end investment jewellery pieces such as engagement rings for future brides.
Claire Aristides Fine Jewels is providing precious gift giving opportunities and high end investment jewellery pieces such as engagement rings for future brides.
The four p's
product
Claire Aristides Fine Jewels range of products sold by this business are:
- Affordable simple and elegant pieces of jewellery.
- High end engagement rings
- Jewellery remodeling
price
The type of pricing strategies used by Claire Aristides Fine Jewels used Market-orientated pricing using research and analysis compiled from the target market to judge a suitable price so her business had the best opportunity to gain customer base and reputation.
promotion
The type of advertising that Claire Aristides Fine Jewels uses high profile social media campaigns, in-store events, collaborative parades and events with other designers and a strong pursuit of editorial exposure with fashion magazines and television.
Some of the types of sale techniques that Claire Aristides Fine Jewels has used monthly competitions, add-ons with gifts, gives out discount vouchers at in-store events and offers free ring sizing and manicures on special promotion days.
Some of the types of sale techniques that Claire Aristides Fine Jewels has used monthly competitions, add-ons with gifts, gives out discount vouchers at in-store events and offers free ring sizing and manicures on special promotion days.
place
The distribution channel used by Claire Aristides Fine Jewels are 60% online and 20% in retail stores in Paddington and 20% wholesale to stores in Dubai , Singapore and Sydney. We aim for direct retail sales as a primary sales channel this way we have the full mark up on our products. Claire Aristides Fine Jewels uses an exclusive distribution channel as Claire personally wants to keep her brand up market.
EFFECTIVENESS of marketing strategies
Social media marketing has been pivotal in Claire Aristides Fine Jewels growth. Highly stylised visual content is her primary marketing strategy this is distributed over Facebook, Instagram and EDM. Claire Aristides Fine Jewels is struggling at times. Some strategies that the business could adopt is price penetration so she can have an increase of reputation on all levels including social media and word of mouth to help her expand her business.
market expansion
Claire Aristides Fine Jewels could Increase their sales and products in existing markets. This is obviously the easiest and most risk-free way to expand. This tactic may require a bigger location, different pricing strategies, new/improved marketing techniques but it will be in a customer group with whom she already has a relationship in.