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farah ain

on 10 June 2013

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Business Philosophy
(4 C) Habib Jewels
Product and Services Habib Jewels's Journey In 1958, HABIB was first established as M.A. Habib Mohamed by founder Datuk Haji Habib Mohamed Abdul Latif.
Its first shop was located on Penang's Pitt Street, also popularly known as the island's "Jewellers' Corner"
Under the helm of the founder's son, Dato' Meer Sadik Habib, the company evolved from a humble family concern to become Habib Corporation Berhad. It became Malaysia's first listed jeweller in 1998 Care for customers
Credibility in business
Charisma in ideas
Creativity in production Jewellery Jewelry Product
Brooch Gemstone
Diamond DONE BY: Khairunnisa Abd Zin 2012223314
Nor Faziedah Chun Lee 2012280782
Nurfarahain Mohd Saleh 2012285038
-good government relationship
-many trades have been done with the country ECONOMIC:
-steady economical growth indicates increasing income and higher purchasing power of locals SOCIO-CULTURAL:
-diamond ring has become a vital segment in the wedding culture
-increasing number of people is procuring fine jewellery as form of investment TECHNOLOGY:
-E-commerce and online shopping are becoming a global trend
-business-friendly software-assist in daily operations and capturing targeted consumers LEGAL:
-Import of gold of 8 karat (k) and above is allowed under replenishment scheme subject to import being accompanied by an Assay Certificate specifying purity, weight and alloy content ETHICS:
-political issues that is happening in Africa with regards to the illegal diamond trades
-enforce some form of Corporate Social Responsibility (CSR)
-create awareness to put itself in good light DEMOGRAPHICS:
-strategically located geographic location
-attract large volume of tourists
-language; main literacy in English
-educated and high interest in luxury purchasing micro Analysis S W O T Strengths
•Strong and acceptable brand
•Established partnership Weaknesses
•Limited time and budget to market the company to the segmented target population
•The struggle to constantly create new designs
•The possible inability to meet demand and maintaining stocks
•Competitors can offer similar products quickly Opportunities
•Exhibition in other international countries will be great position
•Great profit margin
•Lots of future prospects and increasing growth in jewellery market
•The possibility to grow the size of the company
•The injection of fresh, creative designs in a somewhat stagnant industry Threats
•Strong competition from other brands such as Poh Kong
•Economic slowdown
•Exchange rate fluctuation
•A decrease of availability of raw materials due to demand from other industries
•Artistic copycats that enter the market and copy the designs
•Abuse and exploitation of diamonds trade MARKET ANALYSIS -expand the business to the international market
-enter New York City of United State. New York is the most popular city in the US
-it exerts a significant impact upon commerce, finance, media, art, fashion and entertainment
-located on one of the world’s largest natural harbors, New York City consists of 5 boroughs namely; The Bronx, Brooklyn, Manhattan, Queens and State Island
-we chose Queens due to the population there. It is biggest area in NY and grew at a faster rate than other 4 boroughs
-Queens have a high degree of income variation which the highest is $188,697 and the lowest is $9,320
-Queens’s population consists of various ethnic; White 39.7%, Black 19.1%, Asian 22.9% and others COMPETITION 5 FORCES Competitive Rivalry among firms currently in the industry 1. Threat of New Entrants (Low)
-high capital investment 2.Threat of Substitutes (High)
-artificial diamond 3.The bargaining Power of Buyers (High)
-intense competition of jewellery market 4.The bargaining Power of Suppliers (Moderate)
-shortage in global MARKET TREND MARKET GROWTH recovery in 2011, value sales of jewellery are expected to grow by a lower rate in 2012
the “Great Recession” shook consumer confidence, leading to a 10% plunge in sales in 2009, followed by 2% growth in 2010 and a 10% rise in 2011
value sales of jewellery are projected to grow by a smaller 6% in 2012, as pent-up demand for jewellery during the economic downturn was released in 2011
in Queens, there are 3 jewellery shops outside the shopping mall and it makes HABIB get a better chance to capture the consumer’s attention. MARKETING STRATEGIES MISSION AND VISION:
committed to continuous research and development, to identifying market trends and working in concert with international designers to provide world-class jewellery to the domestic and international markets
Its vision is to become the most successful manufacturing jeweler of world-class standing by penetrating the Queens people especially women and at the same time will do road tour around New York City itself MARKETING OBJECTIVE:
to become the lead in jewellery ventures and the most successful manufacturing jeweler of world-class standing
to be the number one jeweler either in domestic or international markets
to penetrate Queens market and thus slowly capture New York City people with our product FINANCIAL OBJECTIVE:
to gain a 3% increase in market share by 31st Dec 2014
to reshape consumer perception of the brand
to be at least in par with other competitors current 2014 2015 2016 2017 2018 2019 2020 GOAL TARGET MARKET 1.MARRIAGE READY ADULTS:
work on promoting wedding campaign 2.VISITORS AND TOURISTS:
tax free shopping 3.HIGH SPENDERS:
rewards and loyalty programmes 4.HIGH INVESTORS:
value preserve guarantee 5.FESTIVE SEASONS:
Valentine, Christmas, New Year 6.NICHE MEN MARKET:
designed for men (watches) MARKET POSITIONING JOINT VENTURES In New York, Habib will joint venture with highly esteemed fashion designers in Malaysia such as Jimmy Choo Ltd (handmade women's shoes), Bernard Chandran and Faisol Abdullah in fashion design
Habib will do the collaboration with the celebrities and designers by included the accessories from Habib for brand awareness purposes MARKETING MIX a)PRODUCT:
jewellery will be based on white gold, pearls and colored gems that suit to their taste and preferences
R&D to improve the design and to be matching with the dress by the designers b)PRICING:
prestige pricing, to reflect the superiority of our products
different quality and cost
reasonable and affordable rate c)PROMOTION:
occasion such as wedding and special days
special days are like mother’s day, valentine days and teacher’s day
product to be advertised in the Queens magazine such as The Cut that view the latest fashion trends
join the exhibition organized by some parties in the Queens itself and New York City areas to make the product well-known. d) CHANNEL:
customer’s central office or services counter in the stores
shop in certain shopping mall in Queens like Queens Center Mall, Queens Place Mall and Atlas Park Mall
Habib Jewels at the Bay Terrace which is outdoor strip mall e)SERVICE:
service in advertising and promotion; strategy to promote the brands or products
customer service will help in increase in the market penetration and achieved the profitability STRATEGIES 1.Product development 2.Market development 3.Market penetration 4.Diversification R&D to bring innovative designs
collaboration with celebrities and designers
implementation of jewellery into other luxury market (watches and shoes) appeal to up-coming market
partnership with other international designers to create prestigious brand image increase number of outlets
encourage repeat purchases
advertising campaigns to create brand awareness explore other possibility of ventures into profitable and dynamic industries
jewellery investment company CONTROLS FINANCIAL CUSTOMERS LEARNING & GROWTH INTERNAL increase cash flow-manage revenue and budget
increase market share-measure gross profit to sales improve customers satisfaction-update expertise and skills
increase product differentiation and innovation-core competencies enhancement improve customer satisfaction-feedback
strong branding-review mission and vision
quality and service improvement-review periodically marketing-effective budget allocation
manufacturing-advance R&D
supply chain and logistics-enhanced synergies and efficiency inventory
quality-enhance quality control and creative design Q&A HABIB PRODUCT OF HABIB PRODUCT OF HABIB women International childrens artistic Investment Teenagers
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