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Marketing Management
Assignment No.1
Prepared by:
Muhammad Arif Molvi (Reg # 53103)
Shaikh Tanveer Kamal (Reg # 2541)
Muhammad Zeeshan Sheik (Reg # 420)
Submitted to:
Vision Statement:
“To be the market leader in Fashion Industry, providing best quality products .”
“To provide our customers with ready-made and customized silver ware while
maximizing the return on capital and building a lasting relationship with the
customers”
• Products of KRIZMA
• Location of KRIZMA
The aim of the business is to provide customized silver jewelry to its customers
as well as ready to buy local and imported variety of Silver Jewelry.
KRIZMA is a partnership concern and hence will be under complete direct control
of its owners.
Industry Analysis
INDUSTRY DEMAND:-
• Average Revenue
COMPETITION:-
• Concept of KRIZMA
• Location of KRIZMA
DEMOGRAPHIC PROFILE:-
• Age:- 15 – 45
PSYCHOGRAPHIC PROFILE
PRICE
• Highly Competitive
PLACE
PROMOTION
• Advertising
• Word of Mouth
PACKAGING
• Number of Employees
• Wages Offered
• Distribution of Profits
ASSESSMENT OF RISK
• Property Acquisition
• Loss of a Partner
Financial Plan
This section of the report is regarding the financial plan of the project. With the
help of financial plan we are trying to predict the response of the target market,
calculate tentative cost of the project, what each investor would get by the end of
this project and many other finance related issues.
Estimate Revenue
Based on the market survey conducted with a few people working in silver
jewelry business we learnt that on average each shop generates a revenue of
Rs. 400,000 monthly and it has also come to the knowledge that “demand for
silver jewelry has been increasing since past several years since more and more
people want to wear a new design quite frequently without getting hard on their
pockets therefore the frequency of purchasing gold jewelry has decreased
considerably while that of silver jewelry has increased manifold which could be
gauged by the fact that the traditional gold jewelers have also added a range of
silver jewelry products”.
Capital Requirements
The capital amount required for the project would be discussed here, in this
project there are 3 investors in all. The investors and their share are
1 Arif Molvi 35
2 Tanveer Kamal 35
3 M. Zeeshan Sheikh 25
Product
Distinctive Characteristics of Product.
It is important to state here that the concept KRIZMA wants to bring about is
absolutely unique and something that customer would be willing to pay a
premium price for, i.e. the making of silver jewelry as per the customer’s
design through computer software. It is like a dream coming true for a
customer who wants to differentiate themselves from the crowd.
However if one takes a look from a broader perspective our top competitors are
not silver jewelry outlets but artificial jewelry too. Since those already buying
silver jewelry can still be convinced of our USP and nevertheless over a period of
time will learn of our enhanced product and after sales services but the existing
and potential customers of artificial jewelry would never buy silver jewelry
because of the price concern.
For this reason we would target the customers from the socio-economic groups
of Upper-Upper, Lower-Upper and Upper-Middle socio-economic groups
therefore we have chosen The Forum as a location for this outlet and the design
of the shop layout would reflect the market it is targeting i.e. an elite and classy
look. Other than KRIZMA, the only other main silver shop located in the state-of-
art shopping malls is Silveria at Park Towers Shopping Mall.
Competitive Advantage
The Price of the product would be highly competitive with a low margin on
those products that are made locally since these are already available elsewhere
therefore such items would be used for referent pricing, i.e. the customer would
evaluate our products as priced reasonable as they would be able to relate our
prices with that offered elsewhere and this is how we will win the trust of our
customers.
ATTENTION REQUIRED IN THE BEGINNING AND
GROWTH OF THE BUSINESS
• Recognition to Employees
• Two-way Communication