Gold Jewelry Industry In China To Build A Strong Brand

After the2008economic crisis, the gold’s function of circumventing credit risk causes goldconsumption to boom. China’s gold jewelry consumption ranked second in the world. However,China’s gold jewelry industry is faced with problems such as fierce competition, backwardmode and capital liquidity. Development of the industry is hindered. Facing both opportunitiesand crises, China’s gold jewelry industry is in urgent need of a road to reform. Meanwhile, asbrand building is put on the agenda, China’s gold jewelry industry has entered the phase ofbrand operation. Accordingly, the strategy to create strong brands in gold jewelry industrybecomes imperative.This paper first introduces the development of gold jewelry industry in China since1949and summarizes a number of problems in each stage. Then it defines the concept of a strongbrand and discusses the four steps and six stages of creating a strong brand. In the empiricalanalysis, a relevant questionnaire is designed on the basis of “the customer’s brand equitymodel" in gold jewelry industry. Research-based questionnaire data were analyzed in anempirical and quantitative way to analyze problems in the development of China’s gold jewelryindustry and the strategy to build strong brands in the future.According to the analysis, consumers generally believe that brand awareness, brandeffectiveness, brand image, brand experience have great effect on brand building in China’sgold jewelry industry and there is a significant correlation between them and the brand equity ofthe gold jewelry industry. Descriptive statistics analysis showed that China’s gold jewelryindustry is far behind top international brands in each stage of building strong brands,International advanced experience is worth learning. The paper in strategy of gold jewelryindustry to build a strong brand advocates China’s gold jewelry enterprises to learn from theexperience of international brands, to solve the existing brand problems, to use theircomparative advantages, and carry out brand building actively.