Research On Marketing Strategy Of Hengmei Jewelry Company

Chinese economy has got an overall development after the reform and opening-up. In2013GDP reached56.8845trillion yuan,up7.7%. The income levels of residents also improved continuously. In2013the national per capita disposable income reached18311yuan, increased by8.1%than last year. People consumption level increased too. The sales of jewelry and other hot consumption have achieved more than20%growth. Jewelry has gradually become the third largest hot consumption after housing and cars. However, as Chinese jewelry market has developed rapidly, there has been a series of problem, such as the homogenization of products, low lever price war, the fale discount, less profit and so on. As a small jewelry retail enterprise, Hengmei Jewelry Company faces the same problems.The thesis analyses the macro-environment, the character of Chinese jewelry market, Hengmei Jewelry Company’s situation, and discusses the problems of jewelry industry. On these basis, comprehensively assesses the company’s opportunities, threats, advantages, disadvantages by SWOT analysis method. Then under the guide of the theory of market segmentation, the jewelry consumers market is segmented by using geographic variables and combination od variables such as age, income, education, brand loyalty etc. The thesis defines Hengmei Jewelry Company’s target market, and target market should take the concentration of the target market marketing. According to the brand management theory, the brand position and brand personality are formulated. We will try to build Hengmei Jewelry Company’s to be a brand of "high-grade, elegant, fashion". According to this target a systematic brand strategy is established, around which the marketing mix of product, price, place and promotion is planed. Such as adjust product structure, introduce colored gemstones, spread and perfect custom jewelry, suggest how to guarantee production’s quality and service; then price these products; analyses distribution channels; suggest how to do promotion. Finally some discussions are made about the problems that may hamper the application of the strategy and some solutions are also presented.The problems what Hengmei Jewelry Company faces are common and representative. It is hoped that the thesis will help the company sort out the present mess, and get faster development. It is also hoped the thesis will help other similar small and medium jewelry companies.