Detailed study about Indian Imitation jewellery industry and marketing and promotioanl ideas .

1. Volatile gold prices and changing customers tastes are
forcing traditional gold jewellery retailers to sell fashion
and imitation jewellery to protect falling business margins
and sales.
Research shows that the Indian jewellery sector is in the
transition phase with consumers' desire for possession of
jewellery for its aesthetic appeal and not as a form of
investment.
Imitation jewellery is easy to carry and comes in various
patterns and colours which are giving edge over traditional
yellow metal.

2. every woman wants to look beautiful, not everyone can afford
diamonds and gold. Thats why the concept of imitation jewellery
is a popular option for many women
For many women, shopping for and collecting different types
of accessories qualifies as a passion. Buying expensive
jewellery is not the most practical option
It also affords most fashionable women many more options, and
is safe for travel.
While attending an important event far from home, and worried
about whether or not you should bring your fine jewellery? In
such situations, imitation jewellery provides the best and
sometimes safest bet for a fashionable look

3. The trend of heavy and trendy imitation jewellery has gained
popularity due to TV serials and historical films
 Earlier only middle-class aspirants used to come to shop
such jewellery but now women from across the class opt for
such kind trendy jewellery
Imitation jewellery is available at a price ranging from Rs 5
to 15,000 depending on design and material.
Now one-gram gold jewellery micro and antic patterns are in
great demand

4. Imitation jewellery is too cheap to worry in the case of lost
or steal.
 Women now wanted to wear jewellery according to their
clothes. This is not possible with real gold jewellery
Best Option to Accessorize on Budget No matter your age
Special events for valentines day , teachers day, doctors
day collections
The consumer wanted a wider selection at a single convenient
location and expected an international shopping experience.

5. The following steps will help you define your marketing mix
* Identify your target market.
* Determine what the target consumer desires.
* Assess whether you have any advantages over your
competition in delivering the desired service.
* Choose the position that is most valued by the consumer.
Product: Features , Services , Product quality, Staff
quality, Style, Brand name, packing
Place(Distributions): Location, Frequencies of services,
Transportation, Distributions, Inventory.
Promotios: Publicity, Sales promotions, Personal selling ,
Advertising , Mailing list
Price(Cost): List Price, Discount, Credit terms

6. Shop in shop-The "shop in shop" retail concept is where a brand
owner or retailer takes space in another retailer's store and
fits it out to provide selling space dedicated to that
secondary company's products.
Pop up retailing - pop-up stores are a new phenomenon taking
retail by storm. A pop-up shop, that is — a temporary retail
space or experience which involves “popping-up” one day, and
disappearing the next few days , Pop-up retail outlets give a
more of a touch and feel experience for customer and build
awareness.
Think the possibilities of create a travelling jewellery show.
Seek out places, events and venues like women's association
events , luxury or economic hotel lobbies or even mall kiosks
that lend themselves to selling jewelry on the fly.

7. Association with corporate gifting coupon companies and allow
their customers to redeem coupon in our out lets/channel
partners.
Make association with third party loyalty pregame partners, like
SBI, ICICI, loyalty cards .
Add new retailers for increase sales volumes in targeted
market. Use some technique for developing franchises/ sales
partners. Each new store has the opportunity to further promote
future franchisees,
Direct approch- approch leading retilers or whole sales and
sell the concept , make a business deal in win win basis
Networking-There are many different types of networking, ranging
from email, to in person, to online on LinkedIn and other social
networking sites. Knowing the right people can cause an increase
in your franchise sales.

8. Media
The media provides another option to increase your franchise
sales. Although different strategies apply, you can use both the
local and national media to expand your business. The local media
is an important tool for lead generation and allows you to target
geographic areas where you would like to grow
Trade Shows
Tradeshows are another way to meet prospective franchisees. The
event will provide an insight for potential franchise owners,
while promoting brand awareness and product visibility. Tradeshows
also provide an opportunity to promote new and current products
and drive sales

9. PROMOTIONS & BRAND BUILDING
Use all retail marketing Tools for increase brand building among
targeted customer segment
Think the possibilities of create a travelling jewellery show.
Seek out places, events and venues like women's association events ,
luxury or economic hotel lobbies or even mall kiosks that lend
themselves to selling jewellery on the fly.
Sponsorship or Active participation in cities fashion events ,
film based events, school college events ( By focusing Target
segment)
Use the powers of retail coupons ( one day or few days valid )
by print medias like News papers, women based magazines.
Motivate retail partners for increase sales by offering
exclusive special events or sales schemes.
Create Data base- for repeat sales , loyal customers and make
assure constant touch with emails or other way of communications

10. There is a huge untapped market for branded Imitation jewellery in
India. The critical success factors in the business is quality,
fashionable design, and good after-sales service ,
The changing lifestyles demanded lighter and trendier jewellery with
less price .
For setting up good gold jewellery shop one needs inventory at least
worth of Rs 30 to 50 lakh. While, in the case of imitation jewellery
one can start business with stock of meagre Rs 15, 000
Imitation jewellery are known as celebrity-inspired jewellery-
segment
The Indian consumer was willing to experiment with new designs.
cultivate trust by educating customers about the unethical practices
in the business and change the perception of jewellery as a high-
priced purchase.

11. prasanthpambadi@hotmail.com
Whoever said money can't buy happiness simply didn't know
where to go shopping.”- Bo Derek