Creating An Integrated Marketing Communication Plan For A New Jewelry Business In Australia

Communication objectives

The report majorly focuses on the integrated marketing communications of the new jewellery business, which is a start up business. It identifies the communication objectives. It also identifies the target group of people for the sale of the jewellery. The report consists of the promotion strategy and the marketing strategy of the product, which includes the sales strategy the pricing strategy and the distribution strategy of the products in the market of Australia. It also includes the use of print and social media and the ways of using the same in the markets of Australia. Since it is, a new start up the strategy of the startup has to be an effective one. It further includes the basic budget concept and the evaluation metrics, which includes the brand awareness programs and the creation of suitable market for the particular product. In the end of the report the recommendations has been provided which includes the development program in the organizational communication, the better program of launching of the product in the organizational market. Every start up must have an effective marketing strategy, which will create a brand image of the product. Proper strategy must be followed in launching the product or else it will not be a successful one.

The jewellery store that has been taken for a detailed analysis of the market research in this report is the Stella jewelers located in Australia, Melbourne. The jewelry business is now a huge business. The jewelry business has lots of demand in the markets of Australia. Nearly about 40% of Australian mass is in favor of using the jewellery. The major objective is;

• To open a successful jewelry store in the Queensland area of Australia
• To make at least 200 customers per day
• To have an average profit of 2,000,000 AEU per annually.
• Maintain a gross profit margin of 30 percent.  

 Australia is one of the world`s largest producer of jewelry and it is holding good rank in the world jewelry market. In order to make the brand famous one needs to concentrate on the advertisement process. The world needs to know about the range and the variety of products of the brand and that is possible only through advertisements in different channels, magazines, in different trade exhibitions and on internet (Storey, 2016). The communication strategy of Stella jewelers includes the advertisement of their brands in different magazines, in different ads in different channels. In different advertisements, the company products are described and their values as well are describe (McGowan, Cooper, Durkin, & O’Kane, 2015). It further includes the range of the products and it further addresses the patent customers of the brand who are loyal to the brands. Another process of the communication objective is the process of direct marketing. Many big companies employ this strategy to make their brand famous. The tool of direct marketing of product is the use of catalogs, which are made available to the subscribers who are having the capacity to afford the jewellery and buy the same. This includes mouth-to-mouth publicity and a network team must be created who can promote the products verbally. The trade exhibitions are the most powerful form of growing new business and the best way of making the product popular. The communication strategy includes the strategy to convey the information of the products to the customers. The key objectives of the campaign are to make the product of the company popular and since it is a new start up so the popularity of the product is essentially important. The new start up is never successful without a proper communication. The customers must be made aware of the brand, which is possible only through proper communication, which includes a proper advertisement strategy (Boothroyd, 2017).

• Stella is having a powerful strategy for the building up a strong image of the brand with the process of targeting the market of Australia. The investors of the company must understand the needs of the customers and they need to know about their choice.
• The quality of the product and the range of the product should be maintained considering the choice of the customers in case of quality and the range of the products. Apart from the variety, the price should also be kept in mind. It is important to understand the taste of the customers.
• The status of the customers should also be kept in mind. The customers should be targeted according to their status. The matter of fact that Stella has targeted to the specific market has given it the opportunity to expand itself to other different markets in the future in order to develop and grow big in order to become a popular brand and a successful one.
• Stella jewelers are having a chance to be successful in the Australian market as forty percent of people in the Australian market are having a liking towards the jewelry brand. It is something, which is liked by the maximum mass (Buchan, Frazer, Zhen Qu, & Nicholls, 2015).

Segments and target market

Therefore, the chance of growing in the Australian market is huge as there is demand of the same in the market of Australia. The customers of this market are always in search of new brands of jewelry. Therefore, Stella is having the chance to grow itself. The concept of the jewelry should be unique and meaningful. The concept should be appealing enough to convince the clients. The clients should feel proud to wear the jewelry of Stella. The distribution strategy should be structured and organized. It should be distributed evenly in all the markets of Australia. All types of customers should be addressed and the choice of all types of customers should be kept in mind. The product should address the customers from middle to lower class. By adopting, this process there is a chance to infiltrate the range of jewelries into the markets. It will have the opportunity to increase the sale of the products in different geographical locations by distributing the products to different clients in Australia. through the adoption of the new chains of distribution Stella will have the opportunity to increase the sale of the products and the business volume by distribution of the products in different regions of Australia. There is a need to explore different markets. In today`s world customers prefers the buying of things online on internet. The company must take the initiative to make their products available, online which serves as an important means to increase the growth of the traffic (Hill, 2015).

• The idea of making the products available on internet is a creative idea. The variety of products should be more. Along with the jewelries, the company should think about other related products as well. The related products can include the designer bags, the customized jewelries. Stella majorly contains the designs in gold, diamond.
• To start with, initially it is all right to focus on one particular product but with the gradual increase of the sale of the products it would be creative enough if the other designs of products and different types of products were also designed(Nicol & McEoin, 2015). Along with the gold and diamond, the company can also bring about the range of costume jewelries and the customized jewelries.
• The company must prepare a proper catalog of the products and the information about the products should be made available on the internet on regular intervals. It will keep the customers updated about the products of the company. There is another form of creative thinking to make the product popular is the creation of a chain of customers. The mouth-to-mouth sale is an innovative process.
• The company can take initiative to create a chain of people who would be offered special discounts and they would be given the chance to purchase the product directly from their user id, which will remain safe and locked. Only the customer can access that. The price of the products should be from the middle to higher. The company should maintain proper public relations with all the customers. The monthly exhibitions are the effective part of the creative strategy.
• The revenue of the company can be increased if it offers special discounts at store. The company must also offer some special discounts to the patent customers of the company. The advertisement of the products should be strong enough (Andersen, Ashton, & Colley, 2015).

Stella is a positioned based on the attributes and the quality and price relationship. It would definitely want to keep itself in the position of the best in the minds of the customers. Stella wants to establish the position of the company with an effective meaning and concept. They want to build up a strong and long-term relation with the customers and the dealers. The company would want to give stress on the quality and the style of the product. If the design remains unique, the customers would feel proud of wearing it. It is important for the customers to have the brand satisfaction. Stella would offer the better style and variety of products compared to the competitor company. The price of Stella has to be reasonable than the other jewelry companies in the same area. The quality should also be better. To gain a good position in the market the quality should be maintained. In most cases the jewelry companies limits their products by offering them only to females. The company must consider the choices of male as well. Stella must bring out products, which would include designs for both males and females. It should not only offer designs having heritage but it also have the modern and the contemporary designs. Along with the retro design, it should manufacture designs having latest trend. It should keep in mind about all the occasions. The jewelry of Stella should be such that it everybody can wear on all occasions. It should be designed for all occasions. On wearing the jewelry of Stella, the style quotient of the customers will increase (Smith, 2015).

Creative idea

Stella should be treated not only as a brand but also as a business concept. Stella intends to address the Australian celebrities, the sportspersons, it also targets the charitable organizations, the tourism and the art to the jewellery line (Collins, 2016). The amount of donation it will offer to the non-profitable organizations through the jewelries it will attract the customers to buy the products of the company. Initially it is difficult for Stella to gain a remarkable position in the market. It has to undergo certain procedures for creating a position for itself in the market (Sauer & Wilson, 2016). The delivery of the products has to be smooth and fast. Stella will have to consider the consistent availability of the products. Position of any brand in the market has to be created with the easy availability of the products. Stella is required to plan the release of their products accordingly. The jewelry must be available in the stores as well as in the online portals. The company must make the option available to the customers so that he can buy the product online. Stella must make home deliveries of the products to their customers, as it will easy for the customers to use the product. It would be convenient for them to avail the products. The brand position can be maintained through the exclusive range of products. Social media has a large part to play in this. The products can be made popular in the social media. It will increase the popularity of the product among the people. The sales and marketing has to be strong to increase the popularity of the product, which will increase the brand awareness among the people and it will increase the urge to wear the ornaments among the customers. It will create a good position for the jewelry in the market (Glavas, 2013).

There is a need for Stella to hire an external PR consultant in order to handle the press and make their information worthy of news and publishing them. This is the most vital strategy. The PR consultant is supposed to be a part of a PR agency, their sole duty would be to monitor the internal and external publics and they are supposed to provide the positive and fruitful information of the company (Chan, 2016). Stella would have to take initiative to in informing the consultant about the business it is doing and the concept of the same and about the background of the business. The successful information should be provided about the store and not the useless information should be provided. The information should be successful enough for making the brands of the company popular and successful (Wyatt & Wong, 2014). The information should be such that it should develop the brand image of the company. The unique strategy should be highlighted about the company. However, the primary strategy of Stella is to maintain a consistent picture of community involvement within the region of Australia. It would be effective if the Stella would generate the positive publicity by informing the customers regarding the exclusive and the unique products of the company. The concept that Stella would be donating some amount the profit to the charitable organizations will increase the popularity of the brand. It will create a positive impact on the minds of the customers. Stella also needs to establish a strong and powerful brand reputation by approaching for sponsorship events and campaigns that would keep the audience informed about the way one can change someone`s life and increase his or her style statement by buying the jewelry from Stella. The customers must be able to feel themselves somebody close to the company. They should be able to make themselves belong to the company. They should be able to have a homely feeling whenever they enter the store (Cooney & Foley, 2017).

• The media mix strategy includes the advertisements through social media, digital and print media. The communication according to this strategy should be done through the newspapers, television channels, magazines, newspapers, in different hoardings around different countries. Powerful advertisement is required for the products.
• The product can be made popular only when it will attract the attention of the customers. The advertisements through the social and the print media is an effective process as it can appeal to a larger number of customers. It is comparatively costly but it is more effective. It has larger scope of appeal and can reach to a larger amount of customers (Leigh & Triggs, 2016). This is the prime benefit of media mix strategy.
• It also includes the advertisement of the company in many banners and pamphlets. The pamphlets should be printed with the advertisement regarding the company and it should be distributed with newspaper in every single household. The information about the products of the company should be provided in the pamphlets. The pamphlets must include the information regarding the different products. The media has always remained an effective agent of passing information to the mass(Junginger & Faust, 2016).

• The total budget of Stella is approximately thought to be of 1,789,000 Australian European Dollar. The company would address the importance of creating the brand awareness towards the patent and the potential customers. The maximum amount of budget is spent on the media costs and the development of the brand (Oesterle, 2015). Therefore, from this calculation it can be determined that the sixty percent of the budget is allocated to the objective of the same of which forty percent will be spent on the advertising.
• It further targets the needs of the chains of distribution. The company would use the total thirty four percent of the total budget in order to market the patent customers of which twenty percent is supposed to be spent on advertising. It is assumed that the customers will be spending in five important areas. The maximum spending will be spent in advertisement. It is the largest portion of the entire budget. It is an important and a necessary investment as it helps to achieve the goals, which includes the creation of the brand awareness among the potential customers (De Chiara, 2017).
• Another major important part of the budget includes the spending on the sponsorships, which would happen throughout the year. It is an important investment as it helps to increase the brand image of the product and it further helps to create the positive point. While the option of personal selling o to be rightly said the mouth-to-mouth saling comes it acts as a positive quality.
• The personal selling includes the development of high quality customer service while selling the products. It is effective for the company to spend on the personal selling. It is done in order to improve the quality of the customer service while selling the product (Belwal, Belwal, & Al Saidi, 2014).

Positioning strategy

The database program will be developed once the website becomes active. The development of this process constantly keeps on changing throughout the year until the company is able to acquire the important information from the customers. The cost for the database approximately remains high (M, et al., 2016). For the promotion of consumers, many direct mail pieces are put into use. By the use of this method, the company will have the option to provide attractive gifts and catalogs to the customers. This would show the customers the concern of the company towards their customers. The caring nature of the company towards their customers is something, which is of extreme importance. This process will ensure the customers that the company is aware of them and their choice and that they are of prime importance in any case. The cost for this is effectively high. This would also include informing the customers about the new products. However, it is not necessary for Stella to choose the exact budget for customer advertising (Andersen L. J., 2015). This is just a rough plan of the estimated budget. The budget is prepared to help the company to fulfill the goal of reaching the customers. The main expense of the company therefore is on the advertising, consumer promotions, personal selling or the mouth-to-mouth selling, sponsorships and database programs (Roy, 2014).

• Evaluation matrix includes the definition of the brand awareness and it also includes the information about the brand before and after the campaign. The strength of the product is the unique and contemporary styles of jewelry(Davies & Freathy, 2014). It has great range and variety of designs, which would have a strong appeal to a wide range of people. It has unique business concept along with the brand.
• It has huge scope of exploring the markets of Australia. It has huge scope of exploring the products where there is huge demand of fashionable jewelry and ornaments. The weakness of the brand is it has brand awareness as it is a new business start up and it is required to give more advertisements and more brand awareness have to be created by the company among the customers.
• The initial start up cost is high so it is initially difficult to put in huge investment. There is also a lack of working capital. In the start up business, it is difficult to get enough capital. The work out capital is comparatively low, which is a negative aspect. It is also risky to launch a new product in the market, which is having a unique business concept (Dahles & Susilowati, 2014).
• The opportunity of such company is huge. There are certain threats but apart from the threats, there are also huge opportunities. The first jewelry brand has the scope of organizing the fundraising events, which is would give back the community and thereby create an environment for the company to market the products(Oesterle, 2015).
• It is also possible to achieve the national recognition for the business due to the unique business model. The major threats faced by the company are the major difficulty in the acceptance of the customers of the new jewelry style. The overcoming of the needs and wants of the major retail stores is another challenge that the new venture had to face. Apart from this, the increasing price of gold and diamond is a problem.
• The capital for this is not always ready in the hands of the investors. The investment is a problem in this case. There is also the threat of a new entry, which can serve as a competitor to the company. The quality and design needs to be stressed and paid attention in this case. The brand image and the brand awareness must be done to create a market for the product (Collins, 2016).

Conclusion

From the detailed study, this can be concluded that the new start up has many pros and cones. When it comes to the jewelry business the plans has to be more structured since it is a traditional market. The mouth-to-mouth business is also something that should be improved. Each products including the ear piece, the necklace, the nose pin and many other should be exclusive and unique. It should be appealing to the customers. The business plan should be maintained in order to increase the revenue and increase the popularity of the product. The evaluation process should be focused on and it should be maintained for the increase of the sale. The advertisement strategy, the sale strategy and the sale strategy should be religiously maintained. Finally, the customer service, the quality of the products and the range of the products should be maintained. This is the ultimate and the most important factor for any new start up.   

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