Kalyan Jewellers Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Kalyan Jewellers analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Kalyan Jewellers marketing mix, help the brand succeed in the market. Let us start the Kalyan Jewellers Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Kalyan Jewellers Product Strategy:
The product strategy and mix in Kalyan Jewellers marketing strategy can be explained as follows:
Kalyan Jewellers is one of the leading jewellery and accessories retail brand in India. Kalyan Jewellers believes in Utmost Customer Satisfaction and treating every customer like a Royalty hence they have an ascetic collection. Not just ascetic but some products are tailor-made. The wide product portfolio in its marketing mix includes jewellery products like gold rings, chains, bracelets, necklaces, coins etc. Kalyan Jewellers also offers a diverse range of products for giving gifts.
Like in the advertisement starring Aishwariya Rai, wherein she is shown to be the Royalty. Only by wearing their products they want their customer to get a glimpse of Royalty. And by roping in movie celebs they have always formed that impression. They also believe in stocking up what customers like the most and not what they like the most.
Image: Wikimedia
Kalyan Jewellers Price/Pricing Strategy:
Below is the pricing strategy in Kalyan Jewellers marketing strategy:
Kalyan Jewellers have ensured that they give the maximum value to their customers for the price that they charge. Even before they ventured into the gold business a quarter century ago their forefathers have been various businesses for about a Century and they have always kept strong values as their pillar hence they offer 100 percent gold, zero amalgamation.
Alongside the mantra of less margin, more customers.
Read more about Kalyan Jewellers
Kalyan Jewellers Place & Distribution Strategy:
Following is the distribution strategy in the Kalyan Jewellers marketing mix:
Kalyan Jewellers always have quite huge stores with a lot of variety, to meet the demand of different population in different places.
They have followed more of a region centric approach the more the demand of a product in a particular region, the more the supply and the more the variety has always been their motto and that is how they have marked their presence in almost 80 places across India.
Kalyan Jewellers Promotion & Advertising Strategy:
The promotional and advertising strategy in the Kalyan Jewellers marketing strategy is as follows:
Kalyan Jewellers leave no stone unturned to promote their products in the right way as well. As they have always had region centric approach they have different ambassadors for different states, as for Mumbai, Tamil Nadu, Karnataka and North of India. Kalyan Jewellers have chosen the best and the most renowned ones in all the places to promote their brand. They advertise on Television, they go for the Print medium. Majority of the brand awareness is driven through Outdoor advertisements. Social media presence is comparatively weaker for Kalyan Jewellers, but they don’t need it as such.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Kalyan Jewellers.
People:
Kalyan Jewellers have always put their focus on customers as well their employees. People involved are suppliers of inventory, employees at the retail outlets that are trusted to sell ornaments loyally, security personals and people that design the entire process. In the business of costly jewellery, loyalty and integrity is of utmost importance. A single accident can lead to a loss of millions. Therefore, people that are trusted are the only ones involved in the business.
Process:
Process for Kalyan Jewellers is quite simple. Trending ornaments are supplied by suppliers. Customers visit the retail outlet, select their favourite design and chose to pay cash, card or digitally. The jewellery is made to order or can be picked up off the shelf as well. Kalyan Jewellers also helps in repairing old ornaments and they also deal in buying older ornaments.
Physical Evidence:
Kalyan Jewellers outlets have a number of tools which can be used to check the authenticity of a jewellery. Most of the diamond ornaments come studded with a hallmark which marks its purity and hence guarantee the worth of customer’s money. This concludes the marketing mix of Kalyan Jewellers.
About Kalyan Jewellers:
Kalyan Jewellers is among the best and the largest jewellery stores in India, started a quarter year ago. Kalyan jewellers has been long standing since 1993. The chain has expanded its presence ever since with almost 80 showrooms across India. Founded by T.S. Kalyanararaman. The very first store was started in Kerala, Tamil Nadu. Looking at its relentless expansion, a Global Company invested Dollar 200 million in its expansion.
It has roped in quite a few Big Bollywood celebs from the likes of Mr. Amitabh Bachchan to Aishwariya Rai.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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