Brand Analysis: Chow Tai Fook Jewellery Group

Phu Nhuan Jewelry Joint Stock Company (prematurally Phu Nhuan Jewelry Trading Store) was founded in 1988 under the People’s Committee of Phu Nhuan District. Four years later, the company finally become a joint stock company, and its strategy was to turn into a professional provider. PNJ owns jewelry stores which have different brand names such as PNJ Gold, PNJ Silver, CAO fine jewelry and a wholesale trade of stamped gold bars named Phuong Hoang PNJ – Dong A Bank. Additionally, PNJ is the leading brand name in the jewelry industry; in recent annual report of the company in 2015, there were 194 shopping centers in 45 provinces cities nationalwide. Through years of development and operation, PNJ achievements are spectacular such as ranking in top 100 Vietnam best workplaces, top 50

Marketing is the action or business of promoting a product or service. Marketing through social media is posting an ad or statement about the product in hopes of receiving more buyers. The seller is not is not the only person that can market a product, there is also a such as Free marketing, this is when a person of higher social status wears promotes your product for free. An example of that would be if a well known basketball or football player is seen drinking Gatorade before a pick-up game in his or her home town, by that person being seen with that product it draws attention to that brand from that person’s fans. Social media marketing is a bigger and broader way of receiving free marketing. Some local stores can get global recognition because social media connects all around the world. Social media marketing has become such a big thing that Exhibitor magazine did a survey in 2014 on Social Media Marketing. This survey was taken to determine how exhibit and event marketers used social media to improve the sales of their product. According to the survey released by the company , social media as a marketing tool has exploded over the past four years(Exhibitormediapost). The percentage of companies using social media as an exhibit-marketing implement has more than doubled, from 31 percent in 2010 to 80 percent in 2014(E

In 1837, a man named Charles Lewis Tiffany founded the company Tiffany, but it was not until 1853 when the same man decided to rename the company Tiffany & Co. and make the switch from being a company that sold stationary objects, to a company that focused on the creation and distribution of luxury jewelry (Agrawal). Since the reconfiguration of the company, and over 150 years later, Tiffany & Co. has transformed from a regular retailor like the well-known Macys, JcPenney’s and Kohl’s, which all offer jewelry for sale, to a distinguished brand that is the leader of the specialty jewelry industry (Tiffany). The quest to becoming such an iconic brand, can be linked to the market structure in which Tiffany & Co. encompasses and how the company surpassed its competitors, maneuvered through the entry barriers, established market power and differentiated its standardized products to its consumers. However, before analyzing the market structure in which they reside one must understand all of the market structures.

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

Marketing is precisely about responding and reciprocating to customer needs. It's important that the business knows where there is demand in the market, in order for them to fill it before launching their new product. The business has to take into count that they have to set a reasonable price for the product, especially when they have competition in their location. This is when the four Ps of marketing are introduced; Product - the right product to fill in the market and a product that people are willing to buy to fulfil their customer needs, Price - an equitable selling price so that customers think that the product is a good value of money. Promotion - methods of advertisement such as: word of mouth, leaflets or on social media, by promoting your product you're letting customers know that your product exists. Place - the right location for your business where customers are likely to buy your products.

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

2.1: A brand gives an organisation a public image that is easily recognisable and helps to quickly identify the organisation. Businesses with strong brands are known widespread and help form the foundation of the

The brand seeks great opportunity to further develop the business, enhance product design as well as company’s brand image.

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

Maintenance of the brand image is always the fore most important factor for the luxury brands in order to sustain in the market. is very critical. Therefore, of all the criteria mentioned above, we have determined the brand image is the most important criterion on which we will base our recommendation.

In essence, branding is all about differentiation and consistency. It always has been able to effectively establish an emotional relationship with customers. They compete with each other with the quality of watches that they make for example; Rolex provides a variety of choice for their customers and provides their wants and desires. This includes; by making their watches handcrafted, and putting diamonds into their watches to make it more luxurious etc. Another way for them competing is level of service provided. If a customer comes to Rolex they will ensure that they provide insurance and great level of customer service. This will increase repeat-purchase and brand loyalty among their customers. Rolex is considered untouchable in its position as the world’s leading luxury watch brand both in terms of industry prestige and its

Worldwide Brand: The Company is regarded as the primary source of family entertainment and was awarded as the 13th most valuable brand (valued at $27.4 billion)

The dynamics of the brand reputation helped build better businesses, and the role of the brand which consider as a barometer of value has sustained growth.

In today’s fast-paced world, it is more important than ever to promote recognition of a product or service. If you're remembered as a quality provider, then you will be encouraging repeat business. Branding is a great way to promote this recognition because people are busy and tend to adhere to familiarity. If consumers recognize a brand that they have previously used and they remember being satisfied with it, then they are more likely to choose that product or service again. This is especially true in the tremendous amount of advertising going on today.

The company’s brand recognition is visible globally. It also possesses strong capital resources and has exhibited positive results to its shareholders in the past.