Study On The Marketing Strategy Of Affordable Luxury PANDORA Jewelry In China

With the integration of world economy,China has gradually opened up restrictions on foreign brands.As a result,a large number of overseas jewelry brands have flooded into Chinese market.These overseas brands have successfully used unique marketing strategies to create their own brand images and reached high brand premium,all these has caused a huge impact on Chinese domestic relative industries.Most Chinese brands are hard to compete with overseas brands in marketing strategies.With the development of the Chinese economy and the improvement of Chinese consumers’ demands,Chinese buyers have become the largest luxury purchasing power in recent years.Combining the above two points,nowadays,while facing huge challenges,Chinese jewelry companies also usher in unprecedented opportunities.In the fierce market competition,they should fully develop the market,learn the marketing strategies of famous international jewelry brands.and increase brand premiums.It is the way for China’s jewelry industry to get out of the"big but not strong" plight.China is the world’s largest producer of fresh water pearls and one of the largest gold jewelry consumption countries.Besides,the production and consumption of gems and jade are among the highest in the world.At present.China’s jewelry industry is in a period of vigorous development.In addition to Chinese domestic jewelry brands such as Chow Tai Fook,Chow Sang Sang,and Lao Fengxiang who mainly sell jewelries made by precious raw materials,more and more niche jewelry brands such as MSTAR,LILIFAN,etc.have emerged in China.These jewelry brands represent a new force.Although these Chinese jewelry companies have made some achievements,they are far from those overseas famous jewelry brands in terms of brand value and brand influence.PANDORA,as the world’s largest jewelry brand in terms of sales volume,birthing from a small Danish workshop,entered the Chinese market 10 years ago and is loved by more and more Chinese consumers.PANDORA’s achievement in China is inseparable from its eclectic marketing strategy.Therefore,the author believes that the analysis of PANDORA’s marketing strategy in China can provide implications for the international development of some of Chinese emerging jewelry brands and niche designer jewelry brands.Therefore,the author thinks that this thesis has certain practical significance.PANDORA entered the Chinese market in recent years,and the concept of affordable luxury related to brand positioning was new.After consulting the Chinese CNKI and literature on the Internet,the author found that there is rare relevant research on affordable luxury,PANDORA’s brand strategy or PANDORA’s marketing strategy,so the author believes that this thesis has certain academic innovation significance.This thesis focuses on analyzing PANDORA jewelry’s marketing strategy and exploring the reasons of its successful development in China to provide Chinese domestic jewelry brands with theoretical and practical basis for reference.In this way,Chinese jewelry brands could establish their own marketing strategies.In terms of specific content,first of all,in order to build a corresponding theoretical basis for analyzing PANDORA’s marketing strategy in China,the thesis explains the concept,the feature and the origin of the affordable luxury in chapter three;then,in chapter four,the thesis introduces the affordable luxury jewelry brand PANDORA’s developing process in China,besides,PANDORA’s macro marketing environment in China is also analyzed in this chapter.It is believed that the political environment,economic environment,social environment and technological environment have a certain impact on PANDORA’s operations in China.The reason for analyzing PANDORA’s marketing environment in China is to have a more thorough and clear understanding of the background and reasons for its marketing strategy;in chapter five,after the background is fully prepared,on the basis of 4P’s theory and localization theory,from the aspects of product,price,place and promotion strategy,PANDORA’s marketing strategy in China is deeply analyzed.Finally,based on the analysis of affordable luxury brand PANDORA’s marketing strategy in China,it is concluded that PANDORA’s marketing strategy in China will provide some inspiration for Chinese local jewelry brands.If Chinese local jewelry brands want to gain an advantage in the competition,they have to make achievements in such areas as brand competitiveness,establishment of customer-oriented service system,training of design talents,supply chain system,new technology,mobile social media,integration of online and offline experiential consumption to enhance the competitiveness of Chinese jewelry brands and make the Chinese jewelry industry bigger and stronger.