Primary Target Market

The primary target market is women who spend on jewelry products. Women aged 27 to
45 is the primary target market. Studies indicate that close to 60 percent of women aged
between 18 years and 45 years purchase jewelry (Ahde-Deal, 2013). This group of women is
active in the workforce and can thus spend a significant portion of their incomes on jewelry.
Jewelry is important to women because it shows one’s sense of style. In the digital age, women
are attracted to shopping for jewelry online. Online shopping brings a high level of convenience
and also offers women the option to choose from a large variety. The business targets
women who are keen on rewarding themselves or who would want a piece of jewelry as a
method of commemorating a special memory.
Researching Customer Needs and Wants
Product innovation and customer satisfaction are founded on a deep understanding of
customer needs. Identification of customer needs and wants is a challenge. Customer needs and
wants can be identified through in-depth research. One method is through detailed market
research (Szwejczewski, Goffin, & Baxter, 2011). Market research will involve contracting a
company to gather data on consumers. The business will also compile its own findings. Research
will aim to gather both exploratory and specific information. Exploratory information will help
in the definition of problems related to the products on offer. Specific research aims to solve
underlying problems identified through the exploratory study.
Using the existing data on consumers is also another method that will be used to identify
consumer needs and wants. A review of past surveys and customer interviews will help the

MARKETING PLAN 3
business understand the needs of the consumers. The advantage of this method is the fact that it
is relatively cheaper. It also saves on time and guarantees results in a short period of time.
Various journals and periodicals have reviewed customer behavior (Szwejczewski, Goffin, &
Baxter, 2011). Greater economic empowerment of females has resulted in many businesses
striving to capture the untapped potential of this market segments. Jewelry professionals have
also written extensively on the needs of women. Reviewing past research is thus a method of
ensuring that data collected in the past is captured and used to develop strategies that can result
in business success. The third method is ethnography (Szwejczewski, Goffin, & Baxter, 2011).
Ethnography involves studying a customer in their own environment. Researchers can be sent to
the field to ensure that they study customers and their environment. Ethnography is a detailed
approach that features contextual interviews. Ethnography is particularly useful because it
collects multiple data and ensures that the business has clear insights on the needs and wants of
the customers. Discussion with customers provides businesses with detailed information on their
wants and needs. The business will be keen on consulting the views of expert ethnographers to
come up with accurate and relevant data.
Marketing Mix
Product
The business specializes in the sale of women jewelry products. All types of jewelry
products will be distributed by the business. Enamel jewelry, quill jewelry, plastic jewelry, and
diamond jewelry will be sold and distributed by the business. The business will also sell both
leather and silver jewelry.
Pricing Strategy

MARKETING PLAN 4
The jewelry industry is highly competitive. As a result, a competitive pricing strategy
will be employed. Prices of businesses selling similar products will be evaluated before a final
decision on the pricing is made (Yao & Liu, 2005).. The aim is to ensure that the business
remains competitive by setting a competitive price relative to its competitors. Venturing into the
market requires the business to compete with existing businesses and ensuring that the business
gains customer loyalty. In the digital world, consumers can easily compare prices of products
being sold online. The use of online tools will enable the company to respond to competitor
prices.
Promotion and Distribution
The business will focus on social media marketing. The business will create pages on
Instagram and Facebook. The business will then engage the customers and create engaging posts
that will be interactive and offer relevant information on the products sold by the business.
Customers will order goods online. They will then pay for doorstep delivery. The business will
engage courier companies in ensuring that the products are delivered in a timely fashion. The
aim is to adopt a distribution method that is both cost-effective and convenient.
Advertising Budget
Category Projected Expense in Dollars
Designing photos and posters for social media
campaigns

300

Creation of animations 400
Instagram and Facebook Promotions 1000
Management of Social media accounts 3000

MARKETING PLAN 5
Analytics 700
Giveaways 4000
Printed brochures 1000
Totals 10,400

MARKETING PLAN 6

References

Ahde-Deal, P. (2013). Women and jewelry: a social approach to wearing and possessing
jewelry. School of Arts, Design and Architecture.
Szwejczewski, M., Goffin, K., & Baxter, D. (2011). Identifying Customers’ Hidden Needs: An
Exploratory Study. In 18th International Product Development Conference.
Yao, D. Q., & Liu, J. J. (2005). Competitive pricing of mixed retail and e-tail distribution
channels. Omega, 33(3), 235-247.