Highlights
Task:
RECOMMENDATIONS FOR BUSINESS DEVELOPMENT
collection 1. Business Enhancements 0. To develop a new Jewelry catalogue with latest gold and diamond designer jewelry ? Display mostly 22K gold and diamond studded jewelry ? Increase sale of 22K Necklace sets, Bangle sets studded with diamonds ? Prepare leaflets, brochure, catalogue with company's exclusive jewelry to familiarize the custom, especially in antique finished gold sets and diamond sets ? Minimize resources for the procurement of slow moving and dead stock and substitute this investment on the inventory with greater turn over 2. Expand Customer Base ? To retrieve statistics from the Jewelers Board, World Gold Council, Kitco, Monex, etc. ? Nationwide extensive mailing of fliers of 22K jewelry and diamond studded jewelry ? Search old archive of customers, follow up to determine their reason for not buying and analyze prospects of continuing business ? Identify new buying customers, untapped potential markets, competitive activities, trade shows to join or attend ? Introduce referral bonus or discounts to the existing customers to promote mouth to mouth marketing and attract new customers 3. Market Expansion ? To divide USA market into six segments i.e., North East, South East, Northern Mid-West, Southem Mid-West, North West and South West ? Hire experienced sales men to promote sales in the afore mentioned regions ? Identify the potential Indian Jewelry Market where there are less competitors and organize Jewelry Expos to expand the current market share ? Identify the short comings of the existing Jewelry stores by conducting a market survey and determining ways to compensate them. ? Allocating investments on Market Research Analysis to identify the latest trends and pattems in the jewelry business to keep ahead of the competition
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