Marketing gold jewellery in today s volatile and rising gold price april 2008
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“ Marketing Gold Jewellery in Today’s Volatile and Rising Gold Price ” April 2008 Moaz Barakat Managing Director- Middle East, Turkey and Pakistan World Gold Council A commercially driven marketing organisation Headquartered in London

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Marketing gold jewellery in today s volatile and rising gold price april 2008 l.jpg

Marketing Gold Jewellery in Today’s Volatile and Rising Gold Price”April 2008

Moaz Barakat

Managing Director- Middle East, Turkey and Pakistan


World gold council l.jpg
World Gold Council

  • A commercially driven marketing organisation

  • Headquartered in London

  • Over 50 experienced & professionally qualified management & staff worldwide

  • Global advocate for gold

  • Members are gold mining companies with operations spanning six continents, representing more than 60% of total gold production


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What we do

  • Drive global gold demand in key markets

  • Work to lower regulatory barriers to widespread ownership of gold products

  • Help to develop distribution systems and promote the role of gold as a reserve asset in the official sector

  • Jewellery marketing consumer programmes in conjunction with strategic partners

  • Product development across sectors

  • Go-to organisation for independent information on gold as an investment


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Gold Price Jan 2007- Dec 2007

Source: Global Insight, WGC




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What is driving the gold price?

Short term factors

  • Inflationary fears; as a result, in particular of high oil prices

  • Continued weakness in the dollar

  • Unstable financial conditions

    Long term factors

  • Constrained mine output

  • Strong jewellery demand

  • Both institutional and retail investors are increasingly familiar with gold’s portfolio diversification benefits

  • Easier access to investing in gold via ETFs


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Initiatives in Gold Jewellery Industry

  • Marketing

  • More creative and effective then ever before

  • Richer understanding of consumer behaviour

  • More personalised

  • Must demonstrate relevance

  • Product Development

  • New product crucial/ stay up to date/ innovative design and new techniques

  • Distribution

  • Develop and manage your distribution/ sales network

  • Branding

  • Developing the brand

  • Creating higher margins

  • Costumer service

  • Training staff


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Gold’s enduring appeal

  • Gold is much more than a commodity, and is both rare and desirable

  • Gold is enduring, not transient

  • Gold’s core investment value is now more relevant than ever

  • Gold is like a good relationship; it grows in value as time passes by

  • You have the chance to be part of a revolution, attracting consumers with better product and greater innovation

  • Gold has become a highly desirable, aspirational and fashionable category, and the rising price has been a positive factor in driving that change


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Where to now?

  • The gold jewellery market has progressed significantly, but must now change gear to meet the challenges of today’s higher gold price

  • Success in the gold jewellery market will be dependent on how well you move your consumers into this emerging high value market



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BASED ON GOLD’S POWERFUL, DISTINCTIVE ATTRIBUTES ACROSS ALL MARKETS

FOCUSING ON TARGET AUDIENCE

Physical benefits,

what it is/does

Emotional benefits,

how it makes me feel

e.g. Long lasting

An investment

Expresses my individuality

Desirable

e.g. Financially secure

Good about myself

Feminine

Beautiful

AND CORE GOLD VALUES

Source: GfK for WGC: base: All target respondents China, USA , India, Middle East


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THE COMMUNICATIONS STRATEGY ALL MARKETS

A CLASSIC BRAND RE-INVIGORATION APPROACH

RE-FOCUSING ON CORE GOLD VALUES AND

MAKING THEM FRESH & CONTEMPORARY

TO RE-ENGAGE CONSUMERS WITH GOLD JEWELRY

AND THE ROLE IT CAN PLAY IN THEIR LIVES

APPLICATION ACROSS ALL MARKETS

AND ALL APPROPRIATE MEDIA CHANNELS,

NOT JUST PRINT & TV


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BRAND RE-INVIGORATION: FOCUSING ON CORE VALUES AND MAKING THEM CONTEMPORARY

PROVOCATIVE, SEXY REITERPRETATION OF ITALIAN DESIGN

CONTEMPORARY REINTERPRETATION OF BRITISH PROVENANCE

ROMANTIC REINTERPRETATION OF SUCCESSFUL DESIGNS

MODERN REINTERPRETATION OF CLASSIC STYLING



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FUNDAMENTAL SHIFT IN HOW ‘LUXURY’ IS PERCEIVED THEM CONTEMPORARY

‘OLD LUXURY’

‘NEW LUXURY’

THE THING

LUXURY AS POSSESSION

STATUS, BEAUTY

SUPERFICIAL

THE EXPERIENCE

MORE PROFOUND

& REWARDING

NEW CAMPAIGN BUILDS ON “SPEAK GOLD”

A MORE ACTIVE ROLE FOR GOLD



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IDEA STRENGTHS REAPPRAISAL)

A BIG IDEA

+

PROFUNDITY

+

DIFFERENTIATION


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HOW THIS IDEA WORKS REAPPRAISAL)

THE BAR AND COPY

THE IMAGERY

Assert the fundamental Gold truths

Brings these truths to life

Reassures on the contemporary relevance of gold


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Global Research Results REAPPRAISAL)

  • Campaign has tested well in all key markets:

    • USA

    • China

    • Italy

    • India

    • Dubai

    • KSA

    • Egypt

    • Turkey

  • Brings a modern relevance to gold

  • Built on relevant local truths

  • Gold bar creates standout, gives value and profundity


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CHINA REAPPRAISAL) “ONLY GOLD WITNESSES AND IS A PROOF OF (LONG LASTING) FRIENDSHIP”






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Realising ONLY GOLD’S potential GENERATIONS”

  • global

  • multiple formats above and below the line

    • websites/microsites

    • digital

    • point of sale

  • public relations


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Aim of ONLY GOLD within the region GENERATIONS”

  • Elevate the image of gold to drive desirability

  • Drive the category with key retailers and manufacturers

  • Create new standards in service and consumer expectations


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Conclusion GENERATIONS”

  • With the globalization and a rapidly evolving environment, consumers are exposed to competition.

  • Due to that fact, jewellery market became a buyer market and not a seller market.

  • The whole Jewellery value chain should invest in the revival and sustainability of the gold industry, not only the gold mining industry or WGC because of the vested interest of all parties.

  • Have more strategically thinking focusing on long term success.

  • In these volatile and challenging times, it is time to put more effort into marketing, branding and overall customer experience instead of shying away.


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