SWOT Analysis of Mikimoto with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
Jewellery and diamonds
Lifestyle and retail
Imagine the gift of lifetime
Timeless elegance and sophisticated modern design
Woman interested in buying diamonds and pearls jewellery
Urban women from upper class
Unique ,luxurious and well worth seeking out
1. Mikimoto is the producer of finest quality of pearls 2. Century old business of creating such refined pearls and such innovative designs 3. Mikimoto, the creator of real pearls have won many accolades, which were bestowed on him 4. Gives an outstanding customer experience to create true brand value and a competitive advantage
5. Each piece is having supreme dedication, passion and elegant design
1. Despite high product quality, the brand is losing out on brand recall and availability 2.Limited global reach and needs to use the franchising model and retail model
1. Can go into accessories like purses, watches and etc 2.Brand recall can be increasing by creating a buzz by creating ads
3. Tie-up with fashion brands and events
1. Raw materials prices are increasing 2.Pearls are used by some specific age group, not so popular in youngsters. 3. Many fake and duplicate pearls have come, creating option for consumers to buy cheaper products.
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