Swot Analysis On Jewellery

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They have own their manufacturing facilities more than 100 outlets in Shah Alam and lead the Poh Kong to be a Malaysia’s top jewelry retail chain store. But, its first main competitor is Tiffany & Co, who has the highest number of visibility in Malaysia and also target mass market from middle to higher class range of consumers. Tiffany & Co is a jewelry company that already organized 175 years ago (Tiffany, 2012). In addition, Tiffany was founded in year 1837 when Charles Lewis Tiffany opened a local store in downtown Manhattan. The Tiffany is a quality and noble brand in jewelry industry because there are only few of the local stores at Kuala Lumpur location. The Tiffany's focusing in selling the jewelry. Moreover, they have experience and ability to implement several strategies to attract while sustaining its customers, such as product design and promotion (Diana, 2015). The Tiffany & Co will focus on adding exciting new designs of products to complement its core product offerings. So, the company will always introduces entirely new design collections periodically to aiming to expand and refresh the market. Furthermore, because of the Tiffany & Co is using the online selling, Tiffany & Co. provided advertisement with caught up in the era of social networking and established a strong online presence. Besides that, the Tiffany & Co. tries to engage consumers worldwide via its Facebook, Youtube and Instagram to update with its newest collections and latest news and these strategies can increase exposure of its brand

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Dewi Sitha is a jeweler and silver specialty retailer. The merchandise offerings include jewelry, sterling silverware and accessories. Dewi Sitha has adopted multiple direct distribution channels. This strategy has enabled the company to emerge as a prominent player in the jewelry and specialty retailer segment. However, as counterfeit trade increases, the company stands to lose its brand equity. Besides, it may also result in customer dissatisfaction, which will also be detrimental for the company’s image.

Burberry Group plc (Burberry) is into the global luxury sector. It works in the designing, marketing and sourcing of outerwear, women’s wear, men’s wear, non-apparel and children’s wear categories. It distributes through a diversified network of retail, wholesale and licensing channels worldwide. The company operates its business in three ways by region, by product and by channel. Burberry distributes its products in Europe, Spain, Americas and Asia Pacific through retail and wholesale channels and with selective license arrangements. In addition, it licenses third parties to manufacture and distribute products using the Burberry trademarks. It categorizes

In terms of tonnage, it is the third largest steel producer in India. The company manufactures and sells sponge iron, mild steel slabs, ferro chrome, iron ore, mild steel, structural, hot rolled plates and coils and coal based sponge iron plant.

A SWOT Analysis is a carefully planned method of analysis that seeks to discover the Strengths, Weaknesses, Opportunities, and Threats or challenges to, typically, a project, non-profit, business venture, or public organization. This analysis can also help illuminate the external and internal environment realities in which the organization lives. A SWOT Analysis is critical because its purpose is to align these SWOTS with the organization’s long-term strategies, short-term strategies, and vision of excellence.

A SWOT analysis is “a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture.”(en.wikipedia.org/wiki/SWOT analysis, 03/11/14). A swot analysis can also be used to examine a person’s attributes. The strengths and weaknesses usually are internal factors whereas threats and opportunities are mainly external.

as a valuable means of assessing the fit between what a firm can and cannot do

The dawn of 20th century is the initiation of production of goods and services which were consumer focussed, instead of the usual trend of mass production. Due to economic growth and diversified consumerism, there arises a need for the manufacturers to give additional products of to the market for their survival while still retaining their so called “BRAND” name. Knowledge of the brand communities assists manufacturers preceding the launch of new products so as to retain the positive attitude towards the product and brand as a whole. The influence of brand has grown to the extent that even in accounting there is value allotted for intangibles like goodwill of a company, which mostly contributes to the brand name. Consumers are happy to pay more to get more sophisticated products to blend in the community than left aloof. More brand oriented groups are evident; credit goes to the social media which is prevalent and influential around the globe and contributes to the growing consumer base of reputed brands like Apple, Microsoft, Harvey Davidson motorcycle, etc. (Stratton & Northcote, 2014)

SWOT analysis is valuable in understanding and revising the position of the company before decisions are made about company direction or the application of a new business idea. PEST is a tool to assess external factors. It is useful to complete a PEST analysis before a SWOT, although it may be more useful to complete a PEST analysis during, or after, a SWOT. SWOT and PEST are vital in determining the success of a business.

Antillean Baking Company produces and sells a variety of baked products such as bread, biscuits and buns on the local market. In recent years it has lost market share and management has decided to do a SWOT Analysis of the following areas-: (1) Customers, (2) Suppliers, (3) Competitors and (4) Intermediaries.

In the passed years, the main market of jewellery is occupied by international luxury brands, such as Cartier, Tiffany and so on. The remaining market aiming at Hong Kong jewellery is divided up by the big four competitors. In addition, the rise of mainland jewellery company can also be a threat to TSL.

“The financial value of a brand is not interesting on its own; it’s what we can do to grow it that makes it interesting. The process of benchmarking a brand’s value involves understanding where that brand value comes from and supporting those areas to grow the strength of the brand.” [Shailendra Kumar, FutureBrand, 2001]

According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.