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CREATE A POSITIVE BRAND IMAGE FOR MALLIKA HEMACHANDRA MENS PRODUCTS

Prepared By T.S.Gamage Reg.No.0000017715

Driving Brand for Results December 2013

Postgraduate Diploma in Marketing

SRI LANKA INSTITUTEOF MARKETING


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Subject Student Registration Nu

Criteria Aligning to the purpose of the assignment Some of the answer addresses to the purpose of the question This has addressed the purpose of the assignment Has addressed the purpose of the assignment coherently This has addressed the purpose of assignment comprehensively Clarity of expression An attempt to organize in a logical manner Satisfactory showing of logical manner and organization Shows higher level of Carefully and logically organized Shows coherent structure with clearly expressed ideas Using examples/evidences Shows a little use of examples Some use of examples. Some evaluation attempted Some use of examples. Well evaluated Shows appropriate examples are fully and reliably evaluated Critical analysis of concepts, theories, conclusions Demonstrates limited evidence of critical analysis Demonstrates some critical analysis of relevant theory Demonstrates application of theory through critical analysis Demonstrates application of critical analysis well integrated Following assignment guidelines Limited follow-up of assignment guidelines Some level of follow-up of assignment guidelines Good display of adherence to assignment guidelines Excellent adherence to assignment guidelines Total 1-5 6-10 11-15 16-20

Marks Allocated Awarded 20

20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 20 1-5 6-10 11-15 16-20 100

Special Remarks

Signature of the Examiner

Table of Content
Acknowledgement Executive summary 1.Indroducton to Industry. 1.1. The Jewelry industry 1.2. Manufacturing 1.3. Employment 1.4 Market segment 1.5.Industry size and growth potential 1.6.Future Explanation 1.7.Key players 2. Company background 2.1 Awards won and special events 2.2 Designs 2.3 Mallika Hemachandra Jewelers product range 3. Product category for the men and women 4. New brand segment for Mens product 4.1 Competitive brands and market share 5. The branding strategy for mens category 5.1 Who is the target audience 5.2 Line branding to the particular product 6. Vision and Mission 6.1 Emer vision and core brand value 6.2 Emer Mission 6.3 Emer brand values 6.4 Emer brand management philosophy 7. Financial Plan 7.1 12 Months profit and loss projection 7.2 Four years profit projection 7.3 Positioning map for the Emer 8. Emer new product building for the positive brand image 8.1 Showroom format strategies 8.2 Strategies of brand awareness
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9. Emer brand positioning in the market 10. Brand identity prism 11. Conclusion 12. Reference

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Acknowledgment
With heartfelt gratitude .To our most beloved SLIM lecturer ,Mr. Mahesh Weerathunga for guiding me for this assignment To the office staff of SLIM Matara To Mr. Aravinda Lasantha (Accountant), Mr. Gihan Wickramasinghe (Marketing Manager), Mr. Ishan Senadheera.(The Manager) and all staff in PLC Ambalantota. My colleagues of SLIM

Executive Summery
Currently we are in a rapidly changing business environment, which can change consumer attitudes towards different kinds of products. At the same time marketers are the people, who do not wish to just fulfill the consumer needs, and beyond they need to create the consumer needs and wants. As human life style is more complicated and sophisticate than before, it is easier to plant those kind of new desires on peoples mind. Jewelries are most emotional things are competitive with the various human thinking patterns. Therefore this marketing segment is specialize segment in the market. Toady women as well as men finding fashionable items to highlight their prestige. So mens product market is the niche market in Sri Lanka. Many Jewelers in Sri Lanka practice the mens products .But not popular the product among the segment yet. As the Brand Manager in the Mallika Hemachandra Jewelry I suggest a brand name as EMER. This brand target audience is corporate clents, CEOs, Managers and upper income level men. Theoretical aspects and practical implementations have been elaborated and further I have been able to discuss how and why we have to use other marketing strategies like promotion and positioning strategies like promotion and positioning strategies etc. As the Brand Manager of the company I focused to launch the product as a prestige and valuable brand for having or build lovely relationships with the understanding of psychological factors of target audience

1.Introduction To Jewelry Industry


1.1.The Jewellery Industry Sri Lankas Gem and Jewellery industry is one of the countrys oldest and is also one of the largest export earners. 1.2.Manufacturing The gem and jewelry industry is centuries of the country. Began on 1980s with gradual industrialization of the country and the opening up of trade barriers. 1.3.Employment The Jewellery manufacturing sector employs about 25,000 workers of which about 15,000 are individual craftsmen. Of the total, about 7,500 craftsmen specialize in Silver Jewellery. Factories and workshops in the Gem and Jewellery industry employ about 2,500 workers, most of which were set up, recently. Of the 25,000 employees, only 10,500 are registered with the relevant authorities. The Gemstone Mining industry employs around 200,000 workers currently, and there is a further 500,000 workers, engaged in illegal mining. The Gemstone manufacturing provides employment to 15,000 people. . 1.4.Market Segments The market for Gem and Jewellery is composed of at least three segments: (a). Domestic, (b). Tourist, (c) Export. It was believed that domestic segments on decline, while the Tourist and Export segments are growing. 1.5.Industry Size and Growth Potential Among the firms that are catering to the local market, majority are small in scale and operation, with employees averaging less than ten, and as with many other industries, the majority of the firms had commenced operation in the early eighties, as a result of the open economic policies introduced by the then Government. With regard to future of the industry, 30% of Owners/ Managers of firms interviewed were of the view that the industry was growing, while a further32% stated that the industry was static, and the balance 38% believed that the sector was declining .
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1.6.Future Expansions Only a minority of firms interviewed had though of expansions beyond the year 2005. This was due to their belief that the market was declining. Among those who had plans for expansions, the priorities were: (a). Diversification of products, (b). Recruitment of additional workers However, a notable feature was that the Owners/ Managers were keen on recruiting more Sales staff than Technical staff. 1.7.Key Players Vogue Jewelers Swarnamahal Raja Jewelers Nileka Jewelers Aminra Jewelers

2.Company Background
Mallika Hemachandra jewelers started in 1968, and also become innovative & designs of gem and diamond jewelry. They are not second to any competitor of the jewelry industry of Sri Lanka and world. Mrs. Mallika Hemachandra, founder of the company is a graduate from Holbourne School of arts and craft U.K. She has been designing and manufacturing jewellery for over 40 years. The Mallika Hemachandra jewelry has 150 employees approximately. Female has trained over the 750 girls to produce jewelry over the past 20 years. Ms. Hemachandra is associated with the University of Moratuwa and the Technical Training Institute - Maradana as a Principal investigator for the jewellery examinations.She has had the privilege of designing Jewellery for her majesty Queen Elizabeth of England and personalities such as the wife of the Maldivian President Mrs. Abdul Gayoom, wife of the prime Minister of Pakistan Mrs. Nawaz Sheriff, Bangladesh President His Excellency Ershard and his wife to name a few. Mrs. Hemachandra also has made special jewellery items for the Emir of Bahrain His Excellency Sheik Al Kalifa. 2.1.Awards won and Special Events The Chairperson received the prestigious award for entrepreneur of the year 2000 from the Chamber of Commerce Sri Lanka. Award for the most effectively presented stall at the facets Gem and jewellery Exhibition in Sri Lanka. Merit awards for the best stall at the JCK show in Las Vegas USA Private showing of jewellery to her majesty Queen Elizabeth. National Gem & Jewellery Authority award for assaying and Hallmarking. Presidents award of SWARNASHIKAMANI being most value added jeweller in the country. Best Creative Jewellery Product of the year 2010 awarded at the Asian Mass Media Awards Ceremony 2010. Founder member of the Jewellery Manufacturing and exporting Association Board member of the Technical Training Institute Colombo 10 and the investigator for the bachelor of Design Degree at the University of Moratuwa.

Past President of the Jewellery Manufacturing & Exporters Association from 1992- 1995 2.2.Designs The library of designs varies from 30 years with local and international designs. The company participates in many major international fairs.A highly trained team of designers and craftsman are able to deal with the most official, delicate and the most intricate jewellery designs, surpassing expectations. 2.3.Mallika Hemachandra Jewelry Product Range An enchanting range of jewellery, exquisitely crafted in Gold & Silver Necklaces set with a glittering array of Sparkling Diamonds that reflect the rays of the Sun, Blue Sapphire with all the mysteries of the oceans hidden in their depths, Pigeon Blood red Rubies that encompasses the mystical past, the mysteries of the Amazon bought to life in the glitter of Emeralds.The magical colors of the Rainbow reflected in an array of Ceylon stones such a Garnets, Amethysts, periods, Citrines etc. Modern & Elegant designs for todays woman in the form of Gold Necklaces and Estuds, an aura of femininity with beautiful jewellery to set off the beauty & elegance of a woman. Engagement Rings, Elegant collapsible Rings, the modern Russian Wedding Bands, the colorful Spiral Rings, the simple Love Knot Rings, traditional motifs also in the form of Rings.A mass of different designs in the form of Pendants, Bracelets and Bangles to the discerning wearer who sees variety as the spice of life. The enhancement of the image of masculinity with a range ofCuff Links, Tie Pins, Tie Chains, Collar Clips, Collar bars in gold and Silver encrusted with stones of varieties such as Blue Sapphire, Ruby, Cats eye.

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3.Product category for men and women


Mens product Pendent Chains Tie Chains Rings Tie pins Cuff links Bracelets Womens product Pendent Chains Sari pins Rings Anklets Bangle Necklets

Collections Diamonds and Diamonds Love Swan Seven Rainbow Lines In Diamonds New Pearl Collection

4.New brand segment for Mens products


Currently Mallika Hemachandra Jewelers segment their product for gentlemen. But its not attractive for the particular brands among the Sri Lankan men. Therefore we suggest new branded and attractive segment for the mens product.

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4.1.Competitive brands and market share

Sales
Swarnamahal Vouge Nileka Other 6% Swarnamahal 36% Raja Mallika Hemachandra Other

Mallika Hemachandra
8% Raja 14%

Nileka 10%

Vouge 26%

Figure : 01

5.The branding strategies for mens category


5.1.Who is the target audience Mainly target audience is Top cooperative persons, CEOs , Senior Managers , Executive level people. 5.2.Line branding to the particular product According to the target audience corporate brand name is most suitable for the particular segment. So these people are living there job profiles. Not only they are very busy and always maintain their status. Therefore they like to use corporate brands. So we have to focus and develop corporate brand. We should analyze this brand name according to highlighted their prestige. We must buildup the brand name, these product wearing is identify that person has a massive character. So this brand name discuss among the target audience its a value branded product. We launch this brand name EMER. .

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Basically Mallika Hemachandra product name identify by people its a lady name. Therefore its not parallel with mens product. So EMER is similar to Emeral. Therefore people will believe that EMER also like Emeral brand.(Emeral which is branded company of the mens product). Not only Emeral brand name is popular brand name among the Sri Lankans. Then we can get a chance rapid to reach the Sri Lankan jewelry market.

6.Vision and Mission


6.1.EMER Vision and Core Brand Value The corporate vision of the EMER is to be the Brand of Sri Lanka, Sparkling the World. This is also our core brand value. And as one of the Sri Lankans most renowned brands in the luxury industry, the Group commits to crafting the finest jewelry for customers to further establish its reputation in the Sri Lanka jewelry market. 6.2.EMER Mission The EMER always puts its greatest effort to reach the expectations of the shareholders, customers, employees and contribute to the community:

To add value to shareholders investment, maintain a steady growth in business and profit

To provide value-added products and services to its customers To provide its employees with a professional development environment and grow together to achieve corporate goals

To contribute to the community through enforcing the communications with public and participating in charity events

6.3.EMER brand Values


Practicality Advocating a pragmatic and realistic way of doing business Innovation Continuous learning and strive for change as well as innovations
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Integration Build a harmonious corporation both internally and externally Excellence Demonstrate full commitment, quest for excellence and continuous improvement, endeavor to be the best

6.4.EMER Brand Management Philosophy


People Focus Value for Harmony

-The basic attitude of the EMER towards its employees -Harmonious internal and external environment is the basic conditions for the success of the EMER

Focus on Results

- Refers to both efficiency and effectiveness.

7.Financial Plan
The financial plan consists of a 12-month profit and loss projection, a four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a break-even calculation. Together they constitute a reasonable estimate of your company's financial future. More important, the process of thinking through the financial plan will improve EMER insight into the inner financial workings of EMER 7.1. 12-Month Profit and Loss Projection

1st 3Months Sales (-) Cost of sales 3M (3M) Gross Profit Other Expenses Salary Promotion Expenses Electricity expenses 3.7M Net Profit 1.3M and 2M 1.5M 5M 8M

2nd 3Months 10M 4M (4M) 6M

3rd 3 Months 4th 3 Months 14M 5M 5M 9M 10M 5M 5M 15M

2M 2M .3M

2.5M 3M .5M

2.5M 3.5M 0.5M

other .2M

4.3M 1.7M 3M

6M 3.5M

6.5M

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This is where EMER put it all together in numbers and get an idea of what it will take to make a profit and be successful. EMERs sales projections will come from a sales forecast in which forecast sales, cost of goods sold, expenses, and profit month-by-month for one year. Profit projections should be accompanied by a narrative explaining the major assumptions used to estimate company income and expenses. End of the 1st year we assume get a 9.5 million profit. 7.2. Four-Years Profit Projection The 12-month projection is the heart of EMER financial plan. The Four-Year Profit projection is for those who want to carry their forecasts beyond the first year. Of course, keep notes of EMER key assumptions, especially about things that you expect will change dramatically after the first year. 7.3.Positioning map for EMER High Demand

Low Quality

High Quality

Low Demand Figure : 02 In the future

We can identify the product position movement in the future by this positioning map. According to this report and decisions we assumed that we can push our product in the high quality and high demand position. Simply we can identify that by star mark.

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8.EMER new product building for the positive brand image.


Our mother company has been designing and manufacturing jewelry for over 40 years. Therefore we can made our new branded product using our experience and our new technologies. EMER has been planning to recruitment brand manager, technical officer, fashion designers and qualified staff. EMER proposed to the realm of mens jewelry. Building on its unique creativity depicted in the first collection, EMER is introducing its presence in the masculine universe, offering a new collection of jewelry and accessories for the todays discerning man. EMER proposed Kishu Gomes as a brand ambassador promote their high quality branded products. Because he is a youngest CEO in the world. Kishu gomes professional profile on linkedin. Linkedin is the worlds largest business network. EMER products target audience is upper income level men. So our brand ambassador is most suitable for particular category. 8.1.Showroom format strategies for EMER EMER plans to build up corporate culture environment in the business places. purchase Machines, value added materials for provide superior service to the EMER brands. Most Western mens jewelry brands have made the choice to not alter their formats when operating in Sri Lankan market as they believed that even minor adaptations could seriously damage the parent companys brand . In EMER branch this has been working as Mara jewelry shop is embracing international retail concepts. Luxury brands are operating mega-store formats (often the largest stores for the brand) with large ranges that have been shown to educate consumers about a brand and fuel an appetite for spending. 8.2.Strategies of brand awareness We decided to send email to executive level people of the country to information of our products. As well as benefits and qualities of use this products. Design the paper magazine and distribution the corporate key players of the country. Launch an advertisement on Business today magazine as attractive manner.

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9.EMER brand positioning in the market


As most Sri Lankan consumers have low levels of brand awareness, they also have low levels of brand loyalty. However this also means that sales staff can be an extremely powerful tool with the ability to not only inform consumers of the benefits of their brand, but sway them towards making a purchase. This is a premium product range for the Sri Lankan mens segment. Brand building is occurring on a massive scale, not only through print and television advertising, but also through luxury events and shows and customized lifestyle publications. Luxury events are held with increasing frequency in Colombo ,Kandy and many people attend simply as onlookers. The willingness of the

Sri Lankan media to publicized promotional events featuring celebrities means they have proved. By using that luxury event EMER can reach to the target audience minds as well as PR campaign.. It is a chance to experience a so-called luxury lifestyle and to see products that are not available in the stores yet. Organizers may even welcome window shoppers as they expect that in the near future these high-class shoppers will see their income level.

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10. Brand Identity Prism

Esteem Personality Sophisticated Suave


Exquisite Superlative Ex: Colombo Jewelery, Bullion Jewelery

Social and Culture


*Inventive *Receptive Passion *Commitment *Cosmopolitan EX :Vouge, Mallika Hemachandra

Relationship
*Trust & Dependability *Consistency *Confidence EX Mallika Hemachandra, Dedigama

Basic Physique
*Beautiful Fine Jewelry *Unique Shopping Exp *Counting Edge Tech *Simplistic EX Swarnamahal and Local jewelaries

Figure :02

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11. Conclusion
As a National Marketing Manager of the EMER products we hope to launch the several marketing strategy to develop the new brand of the island wide as well as the world wide. Then offer four years we hope to gain the 9.5 million profit of the EMER products. Through the develop the brand name and produce the innovative items to all segmentation as well as build the team work of the all employees.

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11. References
http://www.srilankabusiness.com/ http://www.srilankagemautho.com/ http://en.wikipedia.org/wiki/Business_marketing Philip Kotler Principles of Marketing8th Edition, 1999 Sudath Mangala Amarasinghe Marketing Manager 2003

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