Shecy Pearls is a leading pearl jewelry supplier in China. Having been in the jewelry industry for over thirteen years and wishing to grow their business, Shecy Pearls opened their online store in 2006. Surprisingly, the business situation of this new online business over one year’s time is better than expected. It is the result of its proper use of the 4P’s of marketing mix: product, price, place and promotion.
Product is the core factor in marketing mix. In the jewelry industry this is even more important. The only purpose for jewelry is for appearance, which means that the jewelry design and quality must be good otherwise it is useless. Shecy Pearls puts quality first. Most of their ocean pearls are from original countries. Shecy Pearls workers also travel around in China to search for freshwater pearls of the best quality. Also, they have their own designers, so they have great flexibility in changing or adding new styles of jewelry very easily. Shecy Pearls is so confident with their products that they label all of their items with a “90-day unconditional money back guarantee”.
Shecy Pearls promises that the prices they offer will “save you up to 90% compared to your local stores” and “a 20% further discount compared to other online vendors”. Besides this, they provide free shipping. It is a smart pricing policy to attract costumers — comparing with other competitors and clearly demonstrating the percentage customers would save. When there are numerous similar companies with similar quality goods in the same market, pricing is the next most important factor to consider. Shecy Pearls design and make pearl jewelry themselves. They are based in China, so labor and other cost is low. With these advantages, they have the ability to reduce their prices without losing revenue, and to gain increasing business.
Shecy Pearls decision to sell goods online is the right way to keep up with a market trend — a growing number of people are buying things online. Being online, people from all over the world can become potential customers. In some ways people prefer to shop online because they do not have to step out of the house and stand for the sales pressure in a physical store. Shecy Pearls has a very well-designed website, which is so easy to use. The jewelry-searching function allows viewers to easily find what they are looking for. The huge jewelry collection fulfills most customers’ demands. They also provide “design your own” service to satisfy the customers who do not find their favorite jewelry. Secure payment with 90-day money back guarantee and fast and safe delivery are provided, so that a customers’ hesitation on purchasing will be reduced dramatically. Shecy Pearls sets the whole online service like a package. Once customers spend money on their products, they are provided a full service pack, which ensures every aspect’s certainty.
Shecy Pearls online store is new, so promotion is an important factor. All of the services mentioned above are their strategies for promotion. They also provide holiday or special-day sales. It is announced that they are developing a membership policy to encourage return business. Shecy members receive a 10% off discount on all items, and they earn points which can be use to exchange gifts from every purchase.
Marketing mix is necessary for business success. Shecy Pearls is on the right track, while it still needs to make more effort to grow its popularity in a worldwide market.
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