Study On The Marketing Strategy Of LF Jewelry Company

With the rapid development of our country,the jewelry market has also been developed rapidly.The barbaric development has led to the imbalance of market supply and the intensification of competition because of the rapid increase of jewelry enterprises.In particular,information has become more transparent with the development of information technology in recent years,and the consumers’ expectation on jewelry products has become higher and higher,forcing jewelry companies to upgrade themselves to meet the needs of consumers.To re-adjust the marketing strategy of jewelry enterprises to deal with the increasing expectation of consumers is imminent.The author makes an in-depth interview and investigation on LF Jewelry Company through the methods of interview and market investigation.The theoretical basis of marketing and the literature review of jewelry industry are summarized.Based on the analysis of the general situation and marketing situation of LF Jewelry Company,this paper analyzes the problems existing in the marketing strategy of LF Jewelry Company.Through the analysis of the macro-environment and the micro-environment,and the SWOT model is used to analyze the LF Jewelry..Through the STP strategic analysis of the jewelry market,LF’s marketing strategy is positioned,and the LF is positioned as the international brand of fashion jewelry which leads the trend of the jewelry industry.Its target customers are the young people,the marriageable group and the middle class;On the distribution channels,we should integrate the online and offline channels,consolidate the first and second tier city market,speed up the development of the jewelry market in the third and fourth tier cities,strengthen the promotion of the online market,and make up for the lack of coverage of the offline stores.In terms of products,we should make the differentiation of the products,services and culture in order to increase the market share.Based on the LF marketing strategy and the actual situation of the company,this paper formulates the marketing strategy of the company.First,in the aspect of products,we use the differentiation strategy of fine products through highlighting the characteristic product series,product focus,collaborative innovation,light luxury and other product strategies to build product differentiation strategy;We also carry out the service differentiation strategies through establishing brand image,strengthening customer experience and standardizing operation process.Second,in terms of channels,LF should speed up the layout of third and fourth tier city jewelry market to make it convenient for customers and optimize online sales,and share the inventories between franchisees’ and self-operated stores’ in order to integrate online orders and offline orders,what we have done is to distribute the online orders as near as possible.Third,in terms of price,Third,in terms of price,no matter franchisees’ and self-operated stores’must strictly carry out the price policy,and implement the one-price and combination price policy according to different demands.Forth,sales promotion tactics,the ways of new media,live platform and story marketing are also important ways to increase brand exposure;LF should establish a big data center and mine the customer data.In order to achieve accurate marketing and personalized push,LF must use the artificial intelligence marketing system.All the marketing tactics are carried out under the strict company culture and policy.Finally,through a variety of systems and measures to ensure the smooth implementation of marketing strategy.