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KRIZMA- THE SILVER SHOP

Marketing Management
Assignment No.1

Prepared by:
Muhammad Arif Molvi (Reg # 53103)
Shaikh Tanveer Kamal (Reg # 2541)
Muhammad Zeeshan Sheik (Reg # 420)

Submitted to:

Sir Adnan Anwar


MS, BS (Marketing & Management, Minnesota State University, USA)
Director Marketing & Admission, Teacher of Marketing
PAF-Karachi Institute of Economics &Technology, Korangi Creek & City Campus,
Karachi, Pakistan.
EXECUTIVE SUMMARY
VENTURE DESCRIPTION

Vision Statement:

“To be the market leader in Fashion Industry, providing best quality products .”

Mission Statement of KRIZMA:-

“To provide our customers with ready-made and customized silver ware while
maximizing the return on capital and building a lasting relationship with the
customers”

• Products of KRIZMA

• Location of KRIZMA

• Equipment Required for the Business

The aim of the business is to provide customized silver jewelry to its customers
as well as ready to buy local and imported variety of Silver Jewelry.

But nevertheless the Unique Selling Proposition of KRIZMA would be


empowering customers to customize their jewelry.

KRIZMA is a partnership concern and hence will be under complete direct control
of its owners.
Industry Analysis

INDUSTRY DEMAND:-

• Average Revenue

• Demand for Silver Jewelry

• Gold Jewelry v/s Silver Jewelry

COMPETITION:-

• Concept of KRIZMA

• Location of KRIZMA

DEMOGRAPHIC PROFILE:-

• Age:- 15 – 45

• Gender:- Male / Female

• Education:- Graduate or in the process of educating


themselves

• Location:- The major cities of Pakistan, particularly Karachi


Lahore and Islamabad.
• Income:- Min $60,000 annually

PSYCHOGRAPHIC PROFILE

• Lifestyle:- Freedom Lovers and people who want to


differentiate themselves
MARKETING PLAN

PRICE

• Highly Competitive

• Low Margin of Profit on Locally Made Items

• Higher Prices for the Exclusive Imported Items

• Premium Rates for Customized Products

PLACE

• Main Distribution from the Mall outlet

• Market Development through Sea-front Outlet

• More Customized Items

• Opportunity for Tourists

PROMOTION

• Advertising

• Word of Mouth

PACKAGING

• Packed in a Velvet Pouch

• Use of Recycled Paper Bags

• Color and Imprinted Logo on the Bags


ORGANIZATIONAL PLAN
• Partnership Concern

• Number of Employees

• Recruitment and Selection of KRIZMA Employees

• Wages Offered

• Distribution of Profits

ASSESSMENT OF RISK

• Possibility of a Competitor Matching This USP

• Suppliers Going Out of Business, or Tardiness In Customized Orders

• Not Matching the Desired Revenue

• Property Acquisition

• Loss of a Partner
Financial Plan

This section of the report is regarding the financial plan of the project. With the
help of financial plan we are trying to predict the response of the target market,
calculate tentative cost of the project, what each investor would get by the end of
this project and many other finance related issues.

Estimate Revenue
Based on the market survey conducted with a few people working in silver
jewelry business we learnt that on average each shop generates a revenue of
Rs. 400,000 monthly and it has also come to the knowledge that “demand for
silver jewelry has been increasing since past several years since more and more
people want to wear a new design quite frequently without getting hard on their
pockets therefore the frequency of purchasing gold jewelry has decreased
considerably while that of silver jewelry has increased manifold which could be
gauged by the fact that the traditional gold jewelers have also added a range of
silver jewelry products”.

Capital Requirements

The capital amount required for the project would be discussed here, in this
project there are 3 investors in all. The investors and their share are

S.No. Investors Relative Share in %

1 Arif Molvi 35

2 Tanveer Kamal 35

3 M. Zeeshan Sheikh 25
Product
Distinctive Characteristics of Product.
It is important to state here that the concept KRIZMA wants to bring about is
absolutely unique and something that customer would be willing to pay a
premium price for, i.e. the making of silver jewelry as per the customer’s
design through computer software. It is like a dream coming true for a
customer who wants to differentiate themselves from the crowd.

However if one takes a look from a broader perspective our top competitors are
not silver jewelry outlets but artificial jewelry too. Since those already buying
silver jewelry can still be convinced of our USP and nevertheless over a period of
time will learn of our enhanced product and after sales services but the existing
and potential customers of artificial jewelry would never buy silver jewelry
because of the price concern.

For this reason we would target the customers from the socio-economic groups
of Upper-Upper, Lower-Upper and Upper-Middle socio-economic groups
therefore we have chosen The Forum as a location for this outlet and the design
of the shop layout would reflect the market it is targeting i.e. an elite and classy
look. Other than KRIZMA, the only other main silver shop located in the state-of-
art shopping malls is Silveria at Park Towers Shopping Mall.

Competitive Advantage
The Price of the product would be highly competitive with a low margin on
those products that are made locally since these are already available elsewhere
therefore such items would be used for referent pricing, i.e. the customer would
evaluate our products as priced reasonable as they would be able to relate our
prices with that offered elsewhere and this is how we will win the trust of our
customers.
ATTENTION REQUIRED IN THE BEGINNING AND
GROWTH OF THE BUSINESS

• Commitment and Dedication

• Not Getting Discouraged by the Lack of Sales in the Starting

• Reinvesting and Expanding

• Maintaining Good Records

• Hiring the Right Person for the Right Job

• Partners Acting as Role Models

• Recognition to Employees

• Use of Resources, and Managing Costs to Reach Desired Goals

• Marketing and Promotion

• Continuous Improvement and Welcoming Feedback

• Two-way Communication

• Hiring Experts for Better Growth Opportunities