STEPHANIE HAMMOND, JUNGSOO HONG, JAMIE LUIG, ANITA NEAS

SEQUENCE

• Who and What is Steven Singer Jewelers

• Marketing Management Problems

• Marketing Research Problems

• Marketing Research Objectives

• Project Description

• Key Findings

• Conclusion and Recommendations

STEVEN SINGER JEWELERS

• Steven Singer opened Steven Singer Jewelers when he was 22• October 7, 1980

• A three story, block-long building on the other corner of 8th and Walnut totaling 6500 square feet of space• A full service shop within the store

• Shop includes a master jeweler, diamond setter, wax maker, designer and pol-isher that enables customers to customize their purchases - and watch them being made through the glass wall.

• The “I Hate Steven Singer” story

• Fun, outside the box marketing tactics• Not afraid to be different

MARKETING MANAGEMENT PROB-LEM

• Communication channels are not effective as before due to rapid changes in technology.

• Consumers buy jewelry through online jewelry retailers.

• Steven Singer Jewelers must perform its marketing strategy to be able to penetrate their target market most effectively and revitalize the brand.

MARKETING RESEARCH PROB-LEM

• Increased sales and brand awareness

• Updated communication strategies

MARKETING RESEARCH OBJEC-TIVES

• Demographics

• Why consumer “showroom” vs. buy

• Which communication channels are effective

• Internal and external SWOT analysis

• Consumer decision process

• Ethics and trends in purchasing jewelry

• Competitors’ strategies

PROJECT DESCRIPTION

1. A focus group• Consisted of nine participants.• Held at Temple Ambler campus on April 5, 2014.

2. Mystery shop• Visited Steven Singer Jeweler, Sydney Rosen Company, Barsky Diamonds, and Safian

& Rudolph Jewelers on Jewelers’ Row.• Observed and analyzed customer service, appearance of stores, and business cards.

3. Secondary Research• Collected data through Temple Library and other various databases.

• Demographics of target market• Trends• Competitors• Industry analysis

KEY FINDINGS

• Sales Associates• Too aggressive considered offensive • “Happy Medium” needed

• Price is always a major factor• Impulse and sales promotions

• Jewelers’ Row• Local awareness• Inconvenient

• Gifts for others• Engraving/ Things Remembered

• In-store Vs. Online• Personalization and professionalism• Custom made jewelry• Reliability• Impulse• Tradition

• People like associations with charities

• 30 minute waiting time

• Negative response to online contests

Focus Group

Purchasing Fine Jewelry

KEY FINDINGS

• Positive response to advertising• Did not know the story behind “I Hate Steven Singer”

• Bubble Bath Contest• Women

• Responded negatively

• In comparison to chain retailers, Steven Singer represents:• Uniqueness• Exclusivity• Quality

Focus Group Cont’dSteven Singer

http://www.youngprofessionalevents.com/philadelphia/photogallery/412/the-6th-annual-worlds-largest-bubble-bath/

KEY FINDINGS

• Steven Singer excels in customer service• Hostess, snacks, beverages

• Ethnically diverse staff

• Did not offer formal, written proposals• Competitors provided informations on business cards

• Contained stone specifics

• Did not send a “Thank you” after visit

Mystery Shop

http://phillyhotlist.cityvoter.com/steven-singer-jewelers/biz/50039

KEY FINDINGS

• Millennial Generation• Major potential customers

• Born between 1980-1999• Ethnically diverse• Socially aware• Indebt• Self-expressive

• Singer’s website• Lacks interconnectivity and knowledge of

stones

• Click and Mortar• National brand awareness• Fixed price strategy

Secondary Research

http://m100group.com/2012/04/14/5-tips-for-managing-millennial-

employees-by-michael-a-olguin/

KEY FINDINGS

• Click only Competitors• Attract non-English speaking customers• Fixed price strategy

• Steven Singer appeals towards men purchasing for others

• Pink gold’s popularity in on the rise

• Jewelry Industry expected to improve• Within the next five years• Rise in

• Consumer confidence index• Marriage• Disposable income

• Decrease in the global price of gold

Secondary Research Cont’d

http://www.canadianmanufacturing.com/procurement/canadian-truck-sales-up-20636

CONCLUSION & RECOMMENDA-TIONS

• Steven Singer Jewelers’ Unique Selling Proposition = Appealing to both men and women but for diverse reasons

THE MAN’S LINE

• Develop a small, simple, conservation men’s line of jewelry• Steven Singer already offers this look in wedding bands for men• Include earrings, necklaces, bracelets, rings & cufflinks• Day to night jewelry• Made with stainless steel and/or black diamonds• Develop customization along the way

http://www.thornjewellery.co.uk/home/mens-silver-bracelets.html?limit=12&limitstart=12

IMC STRATEGY

• Develop an Integrated Marketing Communications Strategy• Build more consistent brand awareness around the who and what of Steven

Singer Jewelers• Fun, quirky, outside the box and offbeat characteristics

• Strategies will appeal to both men and women separately and together• Less objectification of women• Highlighting The Man’s Line

• Outside scope of this project• Promotional Tactics• Public Relations Tactics• Need for budget evaluation• Need for measurement procedures

• Need for strategy even in recession

INTERNET MARKETING

• Start a Steven Singer Jewelers You Tube Channel (free)• Aggregate of Wing Bowl, Bubble Bath and other videos already on the web• Develop a few short videos with the potential to go viral

• Fun, quirky, offbeat• Update videos on a consistent basis in order to keep a fresh feel to them

• Video reenacts the story of “I Hate Steven Singer”• Video give the example of the professional man looking to upgrade his business

look and chooses The Man’s Line to do so• He states he hates Steven Singer because now he landed the job with all of the responsi-

bilities and pressures that go with it

• Video of Steven Singer’s wife speaking about why she hates Steven Singer as a jab at men that would make women want to repost on social media outlets• Could ask customers to send in their own versions of why they hate their spouse just for

fun

LANGUAGE TRANSLATION

• Before making an investment, check the language settings in users' browsers through Google Analytics.

LANGUAGE TRANSLATION

• Blue Nile offers a language translation feature on its website.• “70 percent of non-English speaking customers are most likely to buy products which are pre-

sented in their own language. In some cases, product language is considered more important than price”.

• Philadelphia is the 10th Asian populated city.• Steven Singer Jewelers is close to Philadelphia Chinatown.

• Can attract 10 percent of Philadelphia population more as new customers within budget.• 19.8 percent of population is either Asian or Hispanic (Asian-6.8%, Hispanic-13%). • Half of Asians and Hispanics cannot speak English less than “very well”.• Investment on the feature is one-time cost.

NCM MEDIA NETWORKS

• “NCM is a national network owned and operated by the 3 largest theater circuits in

America: Regal, AMC, and Cinemark - plus 36 select affiliates.”

• “NCM digital satellite network connects over 19,000 screens across 48 states.”

• “Compared to traditional TV during May Sweeps, NCM was the seventh ranked network

among adults 18-49”

• “NCM is ranked #1 on Friday and Saturday nights throughout most of the year”

http://www.ncm.com/about-us?centerstage elndex=2

INTEGRATED PLATFORMS

On- Screen• 19,000+ screens nationwide

• 3D/IMAX Networks Go Local in Philadelphia

Surrounding Counties

On-Site15,000 promotional venues

• Opportunities for Signage and Sam-pling in Theatre Lobbies and Hallways

Standees, “I Hate Steven Singer with website address

Promotional one-sheets hanging in poster cases outside the theatre and inside the lobby, and in hallways.

Advertise on theatre cups and popcorn bags

Online/Mobile• Going to the movies begins on-

line

• NCM offers custom solutions to your marketing objective

Can target your exact audience Integrate online with on-screen

Mobile Apps NCM has top movie, entertainment apps,

and mobile sites NCM Movie goers are 72% more prone to

engage in mobile advertising than the average American

http://upload.wikimedia.org/wikipedia/en/8/86/Posternotebook.jpg

http://www.bing.com/images/search?q=NCM&FORM=HDRSC2#view=detail&id=BD24B57F897EEEA37F97803BFDD0CEDC55C4D579&selectedIndex=0

CORPORATE SPONSORSHIP

Walnut Street Theatre Philanthropic donation to this Non-profit organization

o Donate a piece of jewelry (theatre accepts donations of $250.00 or more)o Members bid on the jewelry

Prominent billing on fliers and playbills recognition in print advertisement Members view Steven Stinger as a local store that promotes and supports the

arts

GORILLA MARKETING

Tech company uses crop circle to adver-tise chip

Steven Singer Crop circle

www.ihatestevensinger.com

http://cdn0.tnwcdn.com/wp-content/blogs.dir/1/files/2014/01/nvidia.jpg

LIMITATIONS OF THE PROJECT

Time constraints School, work, and family schedulesAbility to only conduct one focus group Inadequate incentives for focus group

o Last minute knowledge of incentiveo Could not gain adequate participation

Inclement weather

QUESTIONS OR COMMENTS?