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NK Jewellery- Marketing Plan

For this project, team SSK Marketing analysed the company and its business strategy and created amarketing plan for NK JewelleryCompany NK Jewellery, an online jewellery shop offers artisanal jewellery with semi-precious stones.

Buyer's Persona

Team SSK Marketing analyzed NK Jewellery, an online artisanal jewelry shop based in Norway.​

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Mission: To create timeless, affordable jewels with

semi-precious stones, supporting Indian artisans and maintaining a global, contemporary brand image.

 

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Values: NK Jewellery values craftsmanship, consistency, and supporting artisans' well-being.

Personality: The brand personality is described as sincere, competent, sophisticated, and rugged.

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Structure: The company employs a hierarchical structure for clear communication and responsibility.

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Buyer's Persona: Targeting a diverse audience,

NK Jewellery aims to satisfy the jewelry needs of females in Norway, ranging from teenagers to 60+, with a focus on Oslo and surrounding states.

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The buyer persona is of a 35-year-old working woman in Oslo, a yoga instructor with a middle-class lifestyle and a penchant for cosmic healing, seeking affordable and stylish jewelry for daily wear.

Industry
Analysis

1.1     Brand position of the competetcompanies

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Glitter and Bjørklund:

Females aged 45-54, 3-4 member households, low income, full-time working, high school education.

 


Maanesten:

Females aged 25-34, 3-4 member households, low income, full-time working, high school education.

 


Benefits to the Audience:

All brands offer online/offline jewelry, watches, and accessories.
Economical products available in nearby stores.

 


Audience's Expectation vs. USP:

No unique selling proposition (USP) in the Norwegian jewelry market.
Missing personal touch; operational flaws noted in reviews.

 


Brand Interaction and Problem Solving:

Despite market leadership, brands fall short in customer satisfaction.
Maanesten, though not market leaders, maintains consistent brand voice and tone.

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3.2    Position and Value preposition of NK Jewellery in the market.

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  1. Personalized Owner Interaction:

    • Owner maintains personal interaction with clients from start to after-sales.

  2. Hands-on Problem Solving:

    • Brand personally addresses and resolves all customer pain points.

  3. Online Availability:

    • Wide range of variants available online.

  4. Positive Client Feedback:

    • Raving client feedback and detailed experience descriptions.

  5. Unique Selling Proposition (USP):

    • Luxurious jewelry with candy-colored gemstones at an economical price range.

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Screenshot of market consolidation of competitors (Semrush, 2023)

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Screenshot of customer feedback of competitors on Trustpilot (Trustpilot, 2023).

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Screenshot of customer feedback of competitor on Trustpilot (Trustpilot, 2022).

Marketing

Mix

NK Jewellery is focused on providing luxurious jewelry which is affordable to the young till old.We are discussion 7Ps of marketing mix of NK Jewellery which are justified as follows

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4.1 Product:

  • Luxurious jewelry made of 925 sterling silver, available in gold-plated variants.

  • Classy, chic, and robust designs.

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4.2 Place:

  • Online store to maintain low prices and affordability.

  • Presence on the brand's webpage and social media.

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4.3 Price:

  • Affordable pricing after thorough market analysis.

  • Price range: kr. 499 to kr. 1399, offering value for money.

  • Discounts of 10-15% during off-seasons.

  • Payments accepted through credit or debit cards on the website.

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4.4 Promotion:

  • Paid Media:

    • Utilized social media advertising but limited influencer marketing.

    • Potential for pay-per-click and paid partnerships with influencers.

  • Earned & Shared Media:

    • Positive client feedback and detailed experiences on social media.

    • Opportunities to engage influencers for tagging and resharing.

    • Encourage clients to share their experiences for increased visibility.

  • Owned Media:

    • Regular content sharing on social media.

    • Information on semi-precious gemstones and holistic approach.

    • Customer feedback and affiliate details shared for credibility.

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Picture of product showing personalized note, safe packaging with brand logo (nkotwaljewellery, n.d).

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Screenshot of customer feedback of competitors on Trustpilot (Trustpilot, 2023).

4.5.1 Consumers

  • Target Audience:

    • Demographic: Residents of Norway.

      • Age: Primarily 18 to 60, with a focus on women, employees, and office-goers.

      • Occasions: Targeting customers celebrating events like Christmas.

      • Preferences: Young students prefer gold-plated with smaller stones, while the older generation leans towards silver aesthetics.

 

  • Employees

    • Simple hierarchy with the owner handling marketing, sales, customer service, and leadership.

    • Backend team includes a vendor as a middleman between skilled workers and the owner.

    • Suggestion: Consider adding a dedicated marketing team and explore influencer marketing for cost-effective brand promotion.

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4.6 Processes

  • Production Process

    • Suggested: Enhance transparency by providing information about product sustainability and authenticity through labels or marks.

  • Purchasing Process

    • Well-described process from product selection to aftercare details.

  • Distribution Process

    • Indirect channel with a single-level distribution channel simplifying the process.

    • After sales: Direct client communication with the owner.

  • Customer Service Process

    • Feedback on slower chat box response and email without a signature.

    • Owner's direct involvement compensates for technical drawbacks.

  • Feedback Process

    • Mandaory after-sales feedback on Facebook.

    • Suggestion: Add a feedback section on the website for improved brand quality.

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4.7 Physical Evidence

  • No physical store; brand perception relies on online experience.

  • Consistent branding on the website and social media.

  • Suggestions:

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Ensure branding or logo in the chat box.
Incorporate a signature in the chat bot representing the company.
Include branding in email responses for better acknowledgment.

​USP:

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  • Affordable designer jewelry with candy-colored gemstones.

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  • Handmade products ensuring high quality and durability.

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  • Jewelry tested by the owner before delivery.

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  • Adjustable ring sizes for customization.​

  • LinkedIn
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