5033 - Assignment 2 - Cartier

ASSIGNMENT 2 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 2. Marketing Planning and Processes
Submission date 12/03/2022 Date Received 1st submission
Re-submission Date Date Received 2nd submission
Student names & codes Final scores Signatures
1.Nguyen Thi Thao Nguyen GBH211277 Nguyen
2. Nguyen Minh Quan GBH211426 Quan

Group number:
3.Tran Ngoc Anh GBS210511 Ngoc Anh
4. Tran Xuan Bach GCH200730 Bach
5.Tran Nguyen Quang Huy GCH18319 Huy
Class GBH 1104 Assessor name Hoang Thi Thu Phuong
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a false declaration is
a form of malpractice.
P3 P4 P5 M3 M4 M5 D2 D3 D4
OBSERVATION RECORD
Student 1 Nguyen Thi Thao Nguyen
Description of activity undertaken
Assessment & grading criteria
How the activity meets the requirements of the criteria
Student
Nguyen Date: 12/03/2022
signature:
Assessor
Date:
signature:
Assessor
Hoang Thi Thu Phuong
name:
Student 2 Nguyen Minh Quan
Student
Quan Date: 12/03/2022
signature:
Assessor
Date:
signature:
Assessor
name:
Student 3 Tran Ngoc Anh
Student
Ngoc Anh Date: 12/03/2022
signature:
Assessor
Date:
signature:
Assessor
name:
Student 4 Tran Xuan Bach
Student
Bach Date: 12/03/2022
signature:
Assessor
Date:
signature:
Assessor
name:
Student 5 Tran Nguyen Quang Huy
Student
Huy Date: 12/03/2022
signature:
Assessor
Date:
signature:
Assessor
name:
 Summative Feedback:  Resubmission Feedback:
Grade: Assessor Signature: Date:

Internal Verifier’s Comments:
Signature & Date:

TABLE OF CONTENTS
A. Company introduction ............................................................................................................................................................ 11

I. About Cartier.......................................................................................................................................................................... 11
II. Situation analysis ..................................................................................................................................................................... 13
1. Internal ................................................................................................................................................................................... 13
2. External Environment ............................................................................................................................................................ 14
Political Factors: .......................................................................................................................................................................... 14
Economic Factors: ....................................................................................................................................................................... 15
Social Factors: .............................................................................................................................................................................. 16
Technological Factors: ................................................................................................................................................................ 16
Legal Factors: .............................................................................................................................................................................. 16
Environmental Factors: .............................................................................................................................................................. 17
II. SWOT analysis ......................................................................................................................................................................... 17
1. Strengths in the SWOT analysis of Cartier ............................................................................................................................... 17
2. Weaknesses in the SWOT analysis of Cartier ........................................................................................................................... 18
3. Opportunities in the SWOT analysis of Cartier ........................................................................................................................ 19
4. Threats in the SWOT analysis of Cartier .................................................................................................................................. 19
IV. Marketing strategy .................................................................................................................................................................. 20
1. Target market ......................................................................................................................................................................... 20
2. Positioning ............................................................................................................................................................................. 21
3. Differentiation ........................................................................................................................................................................ 22
4. Evaluation of current Marketing Strategy .............................................................................................................................. 23
B. Product development strategy ................................................................................................................................................ 28
I. Verona Ring ........................................................................................................................................................................... 28
II. The reason why this new product........................................................................................................................................... 28
1. Market potential ..................................................................................................................................................................... 28
2. Competitor’s actions .............................................................................................................................................................. 30
3. Customers’ need ..................................................................................................................................................................... 33
C. Marketing plan ....................................................................................................................................................................... 42
1. Product ................................................................................................................................................................................... 49
2. Price .......................................................................................................................................................................................... 49
3. Place ......................................................................................................................................................................................... 50
4. Promotion .................................................................................................................................................................................. 50
5. People ........................................................................................................................................................................................ 52
6. Physical evidence ...................................................................................................................................................................... 53
7. Process ....................................................................................................................................................................................... 54
V. Action plan and budget .......................................................................................................................................................... 55
VI. Marketing control and evaluation....................................................................................................................................... 56
REFERENCES
EXECUTIVE SUMMARY
Cartier is a world-famous jewelry brand. Their customers are upper-class customers and are willing to pay for luxury items to
show their status. In this article, we will talk about the marketing strategy of the Verona ring - Cartier's new product.
This plan consists of three main parts:
- Company introduction: we will give an overview of Cartier, We will learn about the company's internal and external
environment, its strengths and weaknesses, and outline the goals of the plan ( target market, positioning, differentiation,
evaluation)
- Product development strategy: We will guide the marketing plan by describing the product and comparing it with the
products of the competitors, thereby highlighting the strengths, weaknesses, and differences of Cartier's products
compared to competitor products.
- Marketing planning: After analyzing and having enough information, we have made a complete plan with expected jobs
and an estimated budget for the plan.
The ultimate goal of this marketing strategy is to increase client awareness of Cartier's new items, which will be available by
the end of 2022. Cartier aims to provide clients with the greatest product with profound significance and a unique experience
as a world-renowned high-end jewelry brand.
A. Company introduction
I. About Cartier
Marketing is one of the most crucial aspects of any organization. It's what attracts consumers and produces revenue, as well as
guiding a company's future direction and determining whether it will succeed or fail. (Luenendonk, 2019)
Every company needs to have Marketing Department even from the food industry to the fashion industry. In terms of fashion,
Marketing has an essential part to put a company’s image on the map. In this assignment, the company is chosen is Cartier- a
luxury brand for luxury people.
Cartier is a leading luxury goods company in the world. Jewelry, watches, perfumes, pens, lighters, silver, and crystal are among
the products that the firm produces, manufactures, and sells. Cartier has served as a crown jeweler to 19 royal families and is
known for its excellence, grandeur, and history.
Cartier has been associated with outstanding quality diamonds and other products since its founding in 1847. Cartier is
recognized for using rare materials, creating one-of-a-kind designs, and creating timeless pieces that signify prestige and
mystique. Its clientele includes royalty, celebrities, and young ladies looking for a unique engagement ring. Cartier's success is
built on a foundation of family heritage, devotion, and the pursuit of novel goods. Joan Juliet Buck said in Vogue that "Cartier
has established the benchmark." (Encyclopedia, n.d.)
II. Situation analysis
1. Internal
Strengths of Cartier
- Successful training and learning programs have resulted in a highly competent workforce. Cartier invests heavily in
employee training and development, resulting in a team that is not just highly trained but also driven to accomplish more.
- Cartier has a rich history, Cartier was founded in 1819 by the French designer Louis François Cartier, who manufactured
watches and jewels when he initially began training under Picard. Since then, the designer has been creating custom-made
trademark pieces of jewelry and now has operations all over the world.
- Cartier's products are unique and stylish, and they are developed for particular clients. The designs are one-of-a-kind,
ensuring that individual preferences are met. The detailing in the goods is also superb, and even the smallest details are
taken care of, a quality that it has established principally due to its heritage in watchmaking.
- Excellent Performance in New Areas - Cartier has developed competence in entering and succeeding in new markets. The
growth has assisted the organization in creating new revenue streams and diversifying the economic cycle risk in the
markets in which it operates.
- High level of customer satisfaction - thanks to its specialized customer relationship management department, the firm has
been able to achieve a high level of customer happiness among current customers as well as strong brand equity among
future consumers.
- Cartier offers a variety of distribution methods and has a vast consumer base. The corporation has roughly 200 exclusive
Cartier stores, however, the majority of them are in tier 1 cities or metros. The company also sells through third-party
retailers and has a website as well as online e-store partners.
(Bhasin, 2019)
Weakness of Cartier
- Investment in R&D is lower than that of the industry's fastest-rising firms. Despite spending more on R&D than the
industry average, Cartier has been unable to compete in terms of innovation with the industry's leading companies. It
appears to be a mature company eager to release goods based on market-tested features.
- Outside of the primary business, there has been limited success. Despite being one of the leading companies in its field,
Cartier has had difficulty in expanding into new product areas with its current culture.
- Cartier continues to rely entirely on the brand image that it has developed over the years. As competition has increased,
more and more medium-sized enterprises are producing items that look identical to Cartier's, making it difficult for
Cartier to differentiate itself.
- Cartier is a premium brand, thus it can only appeal to those with a higher income. For luxury brands, the costs of creating
and marketing, retailing and distribution, and so on are expensive. The combination of poor margins and declining sales
volumes has resulted in massive losses for the company.
- The firm was unable to meet the difficulties posed by new competitors in the industry, and as a result, it lost a modest
market share in narrow areas.
(University, n.d.)
2. External Environment
Political Factors:
The political factors in the Cartier can be explained as follows:
- Cartier is present in more than 100 countries and hence it is sensitive to several political factors. There are a lot of
countries where political stability is lacking and these countries can hinder investors’ and stakeholders’ trust in the
performance of the business and eventually hamper the growth of the brand. Cartier has to study the trends of change in
the government of every country they are present in because a change in the powers might lead to change in the priorities
towards different industries, especially the gold industry because in the last few years people are getting conscious about
buying gold that is sourced ethically. Cartier needs to study other factors such as pressure from the protest groups, social
workers, and worker unions as such protests will directly impact the productivity of the business. Cartier should consider
close collaboration with these groups it will enhance Cartier's ability to connect with the community. Other important
factors that should be kept in mind are bureaucracy and corruption level in a region. Operating in a highly corrupted
region makes a business environment very volatile, which drives away investors as well as consumers. Entering into a
country with high taxation will eventually cut down the profit margins of the company. It should enter into a region where
taxes are low because a high-profit margin will allow the company to invest more in R&D. (Khan, 2014)
Image: pixabay
Economic Factors:
Below are the economic factors in the PESTLE Analysis of Cartier:
- Cartier is a luxury brand so it caters to the needs of wealthy people. So, it is important for the brand to study consumer
disposable income in order to expand the market beyond its traditional customers by employing differentiated marketing
campaigns. Cartier needs to make sure that they study fiscal policies, government spending on infrastructure, and indices
such as inequality index in order to choose the right market and environment for their product. Cartier needs to study the
demand shift of the economy before entering into a market. Due attention should be given to workforce productivity, the
company can target developing countries where labor cost is low and productivity is high. (Baldwin, 2017)
Social Factors:
Following are the social factors impacting Cartier PESTLE Analysis:
- The demographic trend is a very important factor that needs to be studied for a brand like Cartier. Developments such as
Brexit can have an impact on social factors globally. Cartier should build capabilities to work in these sensitive
environments. Cartier being a luxury brand should analyze the savings pattern of the country as it is a good indicator of
disposable income. Another demographic trend such as changing average age is crucial for forecasting demand in an
economy. For example, in the US and Europe average age is increasing so the demand for this segment will grow
whereas, in younger countries, the demand for the younger segment will be higher. So, Cartier needs to study this trend
before developing a new product or preparing a marketing strategy.
Technological Factors:
The technological factors in the PESTLE Analysis of Cartier are mentioned below:
- Cartier should use the digitalization of various processes to overcome corruption in the economies where corruption has
its foothold. It should study the penetration of the internet and mobile phone in the country as it will help in building a
requisite business model based on local needs and realities. If there is a high level of investment in the technology
development sector then there are is a probability of building a self-sustaining ecosystem that will drive innovation.
Cartier can leverage such a situation to hire the best people in business. It should focus on the acceptance of Mobile
Payments and Fintech services. They should access what mode of mobile payment is widely used in an economy and
build its business model accordingly. 5 G-related infrastructure is around the corner and so Cartier should prepare itself
and assess about what level the local market is prepared to roll out the 5G connectivity.
- The laws and culture of IPR and other digital assets should be analyzed very carefully by Cartier in every economy so that
they can avoid any loss of assets.
Legal Factors:
Following are the legal factors in the Cartier PESTLE Analysis:
- Cartier should do primary research about how much time it takes in a court proceeding in a specific country. Employment
and labor laws should be studied carefully because most countries have strict labor laws and it can vary from economy to
economy so Cartier must make sure compliances with each country’s laws. Apart from labor laws, health & safety laws
are also important to study because different countries have different attitudes towards health & safety so
- Cartier should do thorough research before entering a new market. With developing technology, data generation is
increasing and most countries do not want data of their citizen to be stored outside of the country so Cartier should also
make sure that they comply with the government’s policy regarding data protection. One more factor that should be
considered is the influence of the government on the judiciary, independent legislature reflects the strength and credibility
of the institution in the country.
Environmental Factors:
In the Cartier PESTLE Analysis, the environmental elements affecting its business are as below:
- Corporations such as Cartier have realized that they need to be more sustainable in today’s market. Increasing pollution
coupled with technological advancement has compelled businesses to implement more efficient recycling methods, some
countries have placed some stringent norms in terms of waste management so it is crucial for Cartier to adopt these
methods in concerned economies. Climate change can impact global corporations because the extreme climate in one
country could lead to supply chain disruption so Cartier should build a flexible supply chain to avoid these bottlenecks.
- The role of environmental agencies is critical in safeguarding norms and powers and the roles of agencies vary from
country to country so Cartier needs to study these patterns and make sure they duly comply with these rules and
regulations to maintain a good image in the eye of its consumers. It has progressed towards ethical sourcing of its gold
and they have also made sure that no child is used as a labor in the extraction of gold. Cartier should focus on corporate
social responsibilities according to the regions.
- To conclude, the above Cartier PESTLE Analysis highlights the various elements which impact its business performance.
This understanding helps to evaluate the criticality of external business factors for any brand.
II. SWOT analysis
Cartier is famous for its custom jewelry and other items for which it has a large celebrity clientele. However, the company
continued to have limited growth in the retail space and was buoyed by the explosive growth in mall culture, a presence lower
than most of its competitors. Cartier registered annual sales of $6.1 billion in 2016.z. In the following, I will do a SWOT analysis
for everyone to understand more about this brand.
1. Strengths in the SWOT analysis of Cartier

Strength is defined as what is best in each business within its scope of activity, which can give the business an advantage over its
competitors. Following are the strengths of Cartier:
- Product quality: The products manufactured by Cartier are consistent with the needs and desires of customers, always
creative, luxurious and unique. In each product, the details are very well made and even the smallest details are taken care
of with the quality that the brand has built primarily on its foundation in watchmaking.
- Broad portfolio: Although Cartier is best known as a watch and jewelry manufacturer, the company has also innovated in
its product variety. The company produced lighters, scarves and other relatively popular accessories. The wide portfolio
including low priced items ensures that the customer base is extensive.
- Multiple channels: Cartier sells through several distribution channels and reaches a large network of customers
worldwide. The company has about 200 retail stores that are exclusive Cartier stores but most are located in tier 1 cities or
supermarkets. The company also sells through third-party retailers and also has partners e-retailer online as well as
website.
- Positioning: The Cartier brand has always been positioned as the epitome of both luxury and elegance, and they design
historically inspired designs with a medieval or antique feel. Although it was originally a luxury brand to expand, the
brand has now repositioned itself as a lifestyle brand.
2. Weaknesses in the SWOT analysis of Cartier
Every brand has strengths and weaknesses. The following are the weak points of Cartier.
- Lack of differentiation: Cartier continues to rely entirely on the brand image built up from the old years, while
competition increases, more and more mid-sized businesses create new products. products are similar to them in terms of
design. More specifically, there are many brands that are changing designs according to customer trends and this is
making it difficult for Cartier to create a strong difference.
- Low profit margin: Cartier is a luxury brand and thus can only cater to higher income segment customers. Design and
marketing costs, retail and distribution costs, and more are exorbitant costs for luxury brands. According to statistics, low
profit margins coupled with reduced sales volume have resulted in great losses for businesses.
- Inability to innovate: Competition in the luxury jewelry industry is intensifying. Carter was a pioneer in luxury design
when it started, and as a result it had a huge client base. However today there is a lot of competition in the industry and
contemporary designers are gaining the upper hand in the market. Jewelry brands are always changing the design in each
product, which Cartier has not yet overcome.
3. Opportunities in the SWOT analysis of Cartier
Opportunities refer to avenues in the environment around the business that it can take advantage of to increase its profits. Some
of the opportunities include:
- New markets: There are new markets as well as new categories in luxury goods. Some of the categories are related to
formal designer clothes, wristbands, shoes, etc. New paths are opening.
+ Consumer Markets: The durable consumer market is characterized by the presence of high competition, penetration
pricing, channel management dynamics and, ultimately, high production and distribution costs.
+ Business marketing: Another feature of the trading market is the time it takes to close a trade. Projects take time to
analyze and value because they consider slippage costs while the project is in progress. Ultimately, in the case of business
markets, sales force, prices and products are much more valuable than promotions. This is in stark contrast to the
consumer market, where promotions make a huge difference to a consumer's buying process.
+ Global market: The challenges faced by global companies are more than those faced by local companies. However,
Global Expansion is a great option for any company as long as it has enough money to maintain the initial costs needed to
establish itself in another country.
+ Government or non-profit market: Each of these markets can be exploited separately by companies. Tapping into each
of these markets provides an avenue for the company to expand their market share and the overall revenue the company
generates.
4. Threats in the SWOT analysis of Cartier
Threats are those factors in the environment which can be detrimental to the growth of the business. Some of the threats include:
- Competition: The main competitors of Cartier are Pierre Cardin, Versace and Graff Diamonds.
- Difficult to attract customers: Luxury jewelry brands are facing a huge challenge from customers switching brands. Since
the frequency of purchases for luxury brands is low, the company needs to retain customers as much as possible.
Moreover, due to the financial crisis of covid 19, customers will weigh in on the frequency of their purchases, which will
cause a downturn in the luxury jewelry industry in the future.
(Bhasin, 2019)
IV. Markeing strategy
1. Target market
Being considered a "luxury brand" connotes a certain feel of exclusivity, excellent quality, high-level precision, and outstanding
craftsmanship which makes its target consumers only a small and niche-type population. Cartier always targeted the high end
customers. they target consumers spend heavily on authentic and famous luxury brands to further enhance their image and
position in the society. The company has always targeted the customers who are at the higher end of the society. They had a
target base of the royal families. This customer base is still maintained. They take pride in the quality of the product they offer to
the customers. Cartier uses demographics to target their clients; ultra affluent customers are generally price agnostic, meaning
their average income is between $250,000 and $500,000, according to Stevens (Stevens, 2004). According to data, over 100,000
Australians have "net wealth worth of $5 million," with a quarter having "net wealth above $10 million," according to Khadem
(Khadem, 2016). Cartier's demographic targets both men and women between the ages of 30 and 50, namely the generation X,
who can afford to buy luxury items with their own money. "Brands may act as symbolic devices allowing customers to project
their self image," "Some brands are linked with specific sorts of individuals and hence represent various value or attributes."
(Keller, 2013) Because Cartier is both a watchmaker and a jewelry brand, it is acknowledged that "watches have been a status
symbol" as mentioned by Adams (Adams, 2013), the bulk of Cartier's psychographics are for consumers who wish to display
their high status. This in a way makes sure, that the targeted segment always stays with them, which is purely on the basis of the
products quality. Cartier serves the royal courts of Spain, Portugal, Egypt, Belgium, Serbia, etc.
Four generations of the royal family have worn the Cartier Halo tiara that was originally owned by the Queen Mother
2. Positioning
The brand Cartier has long been associated with luxury and elegance, and its designs are influenced by history and have a
medieval or antique air to them. Though it began as a luxury brand, the company has since rebranded itself as a lifestyle
brand in order to expand. Cartier has long been associated with luxury and elegance, and its designs are based on
historical inspiration and have a medieval or antique air to them. Though it began as a luxury brand, the company has now
rebranded itself as a lifestyle brand in order to expand. Cartier was founded in 1847 in France and began by designing
wristwatches and jewelry. It swiftly ascended to become a desirable and high-value accessory. And, because to its
youthfulness and world-class elegance, Cartier has undergone significant modifications over the past 170 years to develop
a distinctive quality that cannot be mistaken with any other brand. By creating premium, pricey items, they may outsmart
competitors in the same market, improve their brand positioning, and demonstrate their abilities. Cartier has never let its
consumers down, especially their VIP clients. Cartier is expected to be a significant fashion item in the future, beloved by
aristocratic royal lineages, Hollywood stars, and the world's top elite...
3. Differentiation
Cartier has always represented luxury. King Edward VII once called Cartier "the jeweler of kings and the king of
goldsmiths." The prestigious jewelry house has been loved by celebrities, royalty and fashion icons since its inception.
Throughout Cartier's illustrious history, they have consistently produced sumptuous jewelry befitting a king - or queen, or
movie star. The elaborate designs of the early 20th century were often decadent and studded with diamonds, sapphires,
rubies and emeralds. Cartier has always served the elite, but as the world became more democratic and as the middle class
grew, Cartier, once again supposedly foreknowledge, saw another opportunity. They began to branch out and create
works that were sensual and sophisticated, whimsical and playful, unpretentious and circumstantial. And that's always
been the magic of Cartier; balance visionary ideas with social trends.
4. Evaluation of current Marketing Strategy
The brand Cartier has long been associated with luxury and elegance, and its designs are influenced by history and have a
medieval or antique air to them. Though it began as a luxury brand, the company has since rebranded itself as a lifestyle brand in
order to expand.
170 years of jewelry brand accompanying the Royal Family

 Innovation and design:
Strength
This Cartier brand is still reserved only for the super-rich in society, which also means that despite the high awareness, only a
few can afford their watches. So the value for this brand remains high. As an exclusive brand, customers will have to spend a lot
of effort to buy the brand. The investment required for the customer to make will be tied to the purchase process, which is a
testament to the priced luxury and not the other way around. The table below is a demonstration of the value of Cartier. (Anh,
2021)
 Branding
Strength
The brand focuses on emotional appeal in its marketing messages and mainly uses online advertising. The slogan “Declare your
love to Cartier” was the company’s marketing message, and it used niche networks to reach more potential customers. Cartier
brings the rich values of the brand when marketing its products on any channel.
Opportunity
Exclusiveness might assist in promoting an abundant brand personality (Jones, 2014). In the meantime, having easy access to
clients can be detrimental to the business. As a result, the limited availability, while raising awareness, is an excellent opportunity
to explore
 Corporate strategy
Strength
For their usage of omnichannel initiatives, Cartier was voted luxury marketer of the year in 2012. It was successful in adopting
the anti-marketing rule, which states that advertising should be used to add value rather than drive sales.
Another effective corporate strategy and marketing strategy is to limit the number of marketing partners, including advertising,
and then greatly expand the size of those connections. existing business associates Collaboration with select partners to assure a
committed team to promote the Cartier brand.
Weak
The brand is also focusing on watch production to compete with exclusive watch manufacturers in addition to the accessory
trend. This can create artificial shortages by announcing a production stoppage for a while, then taking pre-orders for the next
collection.
(Luxury, 2021)
 Website/E-commerce
Strengths
Cartier has mastered the art of exploiting its relationship with its publisher brand to communicate its story to people who aren't
even its target market. It focused on presenting print stories through the voices and viewpoints of editors, which were well
received by customers, and it developed a successful brand recognition campaign. Consumer attitudes toward brands are socially
adjusted by nature.
Threats
An easy online presence makes it easy for counterfeiters to deceive consumers with cheap imitations. Many Cartier products have
been counterfeited, the image below is an illustrative example.
The difference between fake and real
 Sustainability
Strength
The biggest benefit of Cartier's omnichannel marketing strategy is that it keeps the brand's mystique alive in the minds of truly
affluent customers. Cartier has been able to create a subtle beauty that no other brand has been able to duplicate till now. As a
result, it has a significant market advantage over its competitors.
 Internationalize
Chance
It lacks the ability to interact with the brand on a personal level during the purchasing process (Cartier, 2015). Given its current
advertising performance, limiting sales while maintaining high brand awareness will eventually result in a positive brand equity
equation. It could also be aimed towards markets in developing countries.
Threats
Focusing on exclusive stores would help the company, but it would only sell a handful of products online. The current strategy is
setting the value too high, which will benefit the growth of the product fake.
(Jones, 2014)
B. Product development strategy
I. Verona Ring
The new product we want to introduce to the market is “Verona Ring” for Valentine’s Day 2023. This is a model of a
couple of rings, a wedding ring called “ Verona Ring”. A special feature of this ring is that it is only sold once for both
male and female customers and they cannot buy the second one. They have to use a citizen ID to buy rings, their personal
information is also saved in Cartier’s information system to make sure that they can not buy twice. Moreover, these rings
allow users to interact to increase affection even from afar; when your partner is on a business trip or not with you and
you miss him/her, you can text, chat or tap the ring twice. Verona also has high battery life, it uses a wireless charger. It
only takes 90 minutes, then you can fully charge the battery and use it within 5-6 days.
II. The reason why this new product
“Verona” is the special name cause is associated with the city of Verona- the Italia symbol of love. The poetic city is
associated with the old romantic love story between Romeo and Juliet, but in the end, it is an immortal tragedy about
love. A famous love affair has consumed many tears of viewers through many movies and novels when it comes to love.
A beautiful love that everyone wants to have, except for the painful ending between the Montague and Capulet clans
around the 16th century but reality hurts for those who are fans of this novel when Professor S.Cliford ended the immortal
love story, concluding that: Romeo and Juliet are two fictional characters based on a true medieval Italian love affair
written by the famous English writer William Shakespeare. (Andreeew.hn, 2022) Research has shown that the human
brain’s response to the descriptive power of stories profoundly influences how, and even affects, both the sensory and
motor cortex. Reading a story is experiencing and synchronizing our minds with the theme of the story. (Hạnh, 2021)
With such an idea of immortal love, we were able to somehow evoke the meaning of the ring in the hearts of customers,
enhancing the spiritual and communication values of the product. Then, we also have other reasons for this choice.
1. Market potential
With nearly 4 years of serving Vietnamese consumers, Cartier has partly understood Vietnamese people’s consumer
preferences, buying and selling trends. The customers who we need to take care of our people in married age and have
higher income and it is the fact that Vietnam ranks 3rd in the world in terms of the growth rate of super-rich people
according to Knight Frank statistics (Phuong, 2020). Thus, Viet Nam will be a potential market to develop products
“Verona Ring”. Money may not buy love but it can testify to love and Verona can help people complete that purpose. In
order to prove love and send love to their own partner, people especially rich people will spend a lot of money to buy
Verona as a love token.
Beside that, the import tax on jewelry into Vietnam is also very stable
71.13 Jewelry and parts thereof, of precious Tax (%)
metal or of metal clad with precious
metal.
-Of precious metal, whether or not
plated or wax-coated with precious
metal
7113.11 – – Of silver, whether or not plated or
clad with other precious metal
7113.11.10 - - - Part 30
7113.11.90 - - - Others 30
7113.19 – – Of other precious metal, whether
or not plated or clad with precious
metal:
7113.19.10 - - - Part 25
25
7113.19.90 - - -Others
7113.20 – Of base metal clad with precious
metal:
7113.20.10 - - -Part 30
7113.20.90 - - -Others 30
(Vietanlaw, 2018)
Based on the table above, it can be seen that Vietnam's jewelry tax falls between 25-30 percent of the product value - a
pretty good price for jewelry brands.
2. Competitor’s actions
- Competitor: The main competitor of “Verona Ring” is the “Darry Ring” of China. They are also required to use
Citizen ID to buy the rings but just a man can buy that make female who wants to buy rings for their couple feel
uncomfortable. They also make different rings significant words that touch the emotions of clients, particularly young
girls, making them wish for and desire the DR ring.
- The products that they provide:
 Darry Ring my Heart: You are the center of my universe. I will always adore you, regardless of how old or young I
am. This heart will always be yours.
 Darry Ring Forever: I just want to be with you for the rest of my life. I just want to hold your hand in the middle of a
crowded location.
 Darry Ring True love: This is true love. True love is eternal. Every day, every second, every minute, I love you more
and more.
 Darry Ring Wedding: The wedding is not the conclusion, but the beginning of our lives together. The rest of my life
will be dedicated to you and our small family.
 Darry Ring Believe: The wedding is not the conclusion, but the beginning of our lives together. The rest of my life
will be dedicated to you and our small family.
 Darry Ring Love Line: All of my heartfelt emotions are for you. Every passionate and precious moment of mine is
dedicated to you. I adore you with every breath I take.
 Darry Ring Princess: In my heart, you are the princess. Allow me to look after you for the rest of my life, my princess.
 Darry Ring with you: Fortunately, it was me. It's a miracle that I can locate you in this big sea of people. My soul is
entire when I'm with you.
 Darry Ring Endless Love: Love that lasts forever. I'll shower you with affection and warmth. My love is just for you
and will remain so for the rest of my life.
(Panda, 2021)
- Their pace of expansion and market share:
 Growth rate: Darry Ring's market is growing by the day, and it now has a global reach with a high number of
searches. According to Alexa, DR is the subject of 32.74 percent of Amazon searches (Alexa, 2022). This is a number
that is neither too large nor too tiny, and DR has recently generated a fever in Vietnam thanks to a series of Chinese
short films marketing this product line. This is sufficient evidence that DR is effectively pursuing his marketing
approach.
 Market share:
Frances Gerety invented the De Beers advertising slogan "A Diamond is Forever" in 1947, and it has since become a
classic in the diamond business, as well as in marketing circles (Sullivan, 2013). Later slogans include "My heart is a
rock, enduring exclusively for you," "The Witness of endless love," and other variations. It's worth noting that all of
these phrases contain the words "love," "forever," and "diamond" (Chunhui Wang, Jim Liu, 2014)
In truth, diamond rings are only decorative rather than functional. However, customers were pushed to adopt the
meaning of "diamond is equal to love" owing to the advertising of each diamond ring brand. After the millennial age
took over as the primary purchaser of diamond rings, the traditional marketing methods became obsolete. Because the
people of the target demographic have distinct personalities, are addicted to the internet, and have grown up in an age
of information overload, the majority of them will dismiss such bland phrases. (Chunhui Wang, Jim Liu, 2014)
However, the emergence of growing consumer groups provides an opportunity for new products like Darry Ring. As
everyone knows, there is no such thing as love, forever, or diamonds in Darry Ring's promotional language. In other
words, the communication topic no longer seems to be a diamond, but rather a loving attitude, which loves just one
person throughout one's life. So, rather than promoting, Darry Ring tries to build friends with clients and be their
genuine love witness, which is a major success element in the age of online marketing will disregard those phrases
with no meaning.
3. Customers’ need
Customers who are preparing to marry, particularly affluent male customers, have an attitude of providing the finest for
their other half. They are almost unconcerned with the price, preferring instead to focus on the significance of the present.
More than that, the notion that they can only buy one Verona ring for the person they love for the rest of their lives, much
as Romeo and Juliet can only love each other for the rest of their lives, causes young girls' hearts melt, creating a desire to
acquire the ring.
 Competition analysis- For product
Cartier Darry Ring (DR)
Product - Cartier focus on the high quality of - The product is for men only and they
the product can buy one time. A man can customize
- Cartier just import the material from diamond rings for his only love. Guests
reliable and trusted supplier only. And can buy an extra pair of wedding rings
all of this raw material is processed as long as it's for that girl he loves.
under carefully maintained (Guru, 2021)
environments to maintain high and - To create the only romantic love is
consistent quality of the products the concept Darry Ring has always been
- The product from Cartier is easy to adhering to. In the field of high-end
use and they have a usual manual to jewelry, Darry Ring successfully
instruct how the product works. combined a diamond ring with an
Besides that, Cartier is always online emotional concept, and it make more
24/7 so the customer can call for them people concern their brand.
to understand detail the product - Product quality is maintained by
- Cartier offers many functional adding value at various levels of the
benefits to the consumers of the value chain.
product use. Every product from - DR has a significant competitive edge
Cartier delivers emotional benefits to due to its high-quality promise and
the customers. Cartier also promises execution.
the fulfillment of psychological needs
on product consumption. These
psychological needs include, for
example, the need for empathy, the
need for belonging, and the need of
feeling loved. (Henry, 2018)
Price - By using premium pricing for some - With the premium price but still have
of its product ranges, Cartier many people want to buy the product
encourages favorable brand and from them because of the meaning in
product perceptions in target consumer this product they give. Creating
groups meaning in a product nowadays can
- Premium pricing for products also make the customer curious about it and
encourages a favorable quality want to have this product immediately.
perception of Cartier products amongst - Premium pricing adds a sense of
consumers exclusivity and great value to DR items
- Cartier has successfully made several - DR is also able to control costs and
of its product lines exclusive by prices through package pricing by
restricting sales and manufacturing cutting marketing and distribution
with premium prices. This, in turn, expenses.
creates an impression of luxury in - During sales, DR also employs
consumer goods. (Henry, 2018) package pricing. Bundle price boosts
- Because Cartier has a variety of the number of people who try a product
product lines and product groupings, for the first time
the application of psychological pricing
has proved advantageous.
-Cartier effectively adds greater worth
to their products from the perspective
of customers by employing
psychological pricing.
Placement - Cartier has greater control over - Join the biggest market in this world is
operations, as well as shop layout and China and they have about 300 stores in
design, at company-operated stores. there and they also placed their store in
- Cartier also communicates directly Hong Kong and Paris. (Insights, 2021)
with consumers and collects critical - They choose supermarkets and
information about consumer behavior hypermarkets to buy and sell their
and feedback through company- product because they know there are a
operated storefronts. lot of supermarkets and hypermarkets in
- Cartier has successfully launched a China and places here help them
website for online order placement and improve the cost-efficiency.
order monitoring. Cartier also promotes - DR also uses partner agents in
sales via social media platforms, where offshore regions to place its products.
the business accepts purchases via These partner agents are assessed and
direct communications. evaluated on strategic compatibility and
- Cartier's products are also available in reliance
supermarkets and hypermarkets around - And they also have their own website
the country. so people from all around the world if
- Cartier collaborates with partner they can’t go to store directly they can
agencies in different countries and easy to see the product through the
marketplaces for product placement to website and can buy it online. They can
assure quality control and terms of deliver all over the world
negotiation.
(Henry, 2018)
Promotion - Cartier also has a corporate website, - They also have a loyalty card for
which features business information, people who often buy their product.
product information, and information - DR offers the loyalty card for a
about any active campaigns and offers. purchase or as a free gift with high-
- Cartier uses their social media value transactions.
presence to communicate with - DR frequent use and purchase of items
customers directly. This direct contact earn credits against the loyalty card.
and interaction enable Cartier to better - DR put their product into the hot
understand its clients' requirements and news and even change their products
aspirations. themselves to a kind of news
- Cartier has a loyalty card for their - DR also uses public influencers as part
customer and this card is used to of its on-the-ground advertising
redeem the points when the customer initiatives.
buys a product and they can exchange - Advertisements are placed in
this point for other products or exciting consumer periodicals by the firm. This
gifts. covers a lot of home décor and home
- Cartier uses the image of famous management newsletters.
people, people have a strong influencer
to introduce their product. Cartier
selects confident individuals to serve as
brand ambassadors in their areas. And
Cartier provides them their product and
invites them to try it themselves to see
benefits.
- Cartier also does television
commercials. Cartier’s television
commercials have evolved to integrate
real-life themes and qualities. It also
emphasizes the product's utilitarian
features.
(Henry, 2018) (Guru, 2021)
People - Cartier ensures that all staff receives - Every people when working in DR
regular training sessions for skill have an essential skill and they have
growth and advancement. - Cartier's training carefully before they work for
training is not just field-related, but DR
also focuses on fundamental - DR tries to develop the employee as
management and organizational skills. an organizational member, as well as an
- Cartier's training sessions and individual. All training is interactive
activities also address the employees' and hands-on, so employees not only
individual requirements for learn but also experience.
progression, development, and growth - DR routinely promotes various
- Cartier designs and implements all employee compensation schemes,
training programs and activities with including stock ownership, to increase
corporate goals and objectives in mind, organizational dedication and
as well as employee personal ambitions ownership
and aspirations. - DR also involves employees in
- Cartier builds employee loyalty so decision-making at all administrative
that people can reflect their optimal levels and solicits their opinion on
best at work. Cartier knows that if they various initiatives and products - all of
can have satisfied their employee will which contribute to organizational
lead to making the customer happy and ownership
satisfied. - DR employees are the face of the
- To build motivation in the brand and they regularly have
employees. They are additionally motivation from different reward
motivated by the many award schemes programs and bonuses for contributing
and bonuses offered by Cartier. to their organization.
- To address the needs and
expectations of the empty job position
at Cartier, succession planning is done
through internal promotions as well as
external recruitments.
(Henry, 2018)
Process - Cartier designs and implements all - DR has established policies for staff
training programs and activities with recruiting, training, remuneration
corporate goals and objectives in mind, management, and performance
as well as employee personal ambitions evaluation.
and aspirations. - DR has defined guidelines regarding
- Cartier builds employee loyalty so recruitment, training, compensation
that people can reflect their optimal management, and performance appraisal
best at work. Cartier knows that if they of employees
can have satisfied their employee will - DR has also established rules and
lead to making the customer happy and procedures for monitoring and
satisfied. sustaining quality.
- To build motivation in the - Experts in the quality maintenance
employees. They are additionally department ensure that not only the end
motivated by the many award schemes product but also the procedures
and bonuses offered by Cartier. involved in its production are of high
- To address the needs and expectations quality.
of the empty job position at Cartier, - DR manages store management
succession planning is done through through stringent and closely monitored
internal promotions as well as external policies and processes - The company
recruitments. also has a systematic process for
(Henry, 2018) customers who interact with the
products and feel them before making
the purchase
- Processes and rules are critical for DR
in order to maintain product quality and
avoid excessive fees and costs.
Physical - The shop atmosphere helps clients - The logo DR stands for Darry Ring
Evidence feel calm and comfortable, allowing has become a symbol for this brand.
them to engage with and appreciate And help people easily recognize
Cartier's product offers with ease. - Use the white color for packaging to
- Cartier values shop design because it help the ring become brighter and give a
influences the amount and quality of customer a strong conviction.
experience and contact that customers - They also focus more on the website,
have with the product and the brand. they design the web easily to interact
- Cartier has unique packaging and with the customer and they want to
regularly changed in terms of colors exchange detail with the customer and
and patterns they can provide the best choice for
- The company's logo is them.
straightforward and easily recognized - The website's design patterns and
by customers. colors fluctuate in response to changes
- For consumers who utilize Cartier in product packaging to meet varied
items, the company emblem has also marketing demands and sale
become a sign of confidence, ambition, promotions.
and aspiration. - DR can better control and manage the
- The website design is simple and shop atmosphere in company-operated
easy to use. The website's design stores, allowing it to positively impact
patterns and colors fluctuate in consumers and emotionally appeal to
response to changes in product them
packaging to meet varied marketing
demands and sale promotions.
- Cartier offers a user interface that is
nice to customers and enables easy
browsing and comprehension of its
numerous product offerings
(Henry, 2018)
Conclusion:
- Strengths:
 Famous brand: Cartier is a world-renowned jewelry company with a nearly 200-year history. Cartier is still a well-known
company that sells high-end jewelry today. The creation of a new product like Verona will be more accepted with a brand
advantage.
 Products that have an emotional impact on people: The Verona Ring has a specific significance in terms of love. Because
each individual can only buy a ring for one person they love using their identity card, the receiver will have a unique
experience but unlike DR, both men and women may purchase Verona rings, demonstrating a commitment to the LGBT
community by allowing women and men to purchase rings for their same-sex partners.
 Quality: Cartier exclusively buys its materials from reputable and well-known suppliers. And all of this raw material is
processed in tightly controlled settings to ensure that the results are of consistently excellent quality.
 Promotion: Cartier uses famous people's images to market their products since they have a powerful influencer. Cartier
chooses self-assured people to act as brand ambassadors in their respective sectors. Cartier then gives them their product
and offers them to try it for themselves to see the advantages.
- Weakness:
 The product's battery life is still limited: This ring has a battery life of 5-6 days after only 90 minutes of charging.
However, while such a period is not brief, it is still somewhat restricted. To maintain connectivity, users will need to
charge on a regular basis.
 Poor water resistance: Water resistance cannot be guaranteed due to built-in electronics. Despite the fact that it has been
optimized, the potential of it occurring is still bothersome for couples.
- Differentiation:
 This ring stands out because it combines functional technology with emotional significance. It is more than just a
diamond ring; it is also proof of a love story, a pledge to a long-term commitment, and an object that links the hearts of
two people who are in love despite being separated by a great distance. Hundreds of thousands of insects
 Technology: Unlike other rings, Verona is technology-enabled, allowing couples who are frequently separated to convey
love and misses at any time.
C. Marketing plan
I. Objective
Promoting Verona products has the purpose of increasing the company's market share. Cartier wants to sell at
least 10,000 units and make $307,000 in the first three months of product introduction. Going into the fourth
month, the target number of items is 50,000, with the goal of keeping it up until the conclusion of the first year
of operation. For the long-term plan, we plan to maintain this product for at least 2 years and then proceed to
improve and upgrade the product in accordance with customer feedback.
II. Issues
 Market Insights
- The upper classes in Vietnam are increasing, the rich are becoming more and more popular. They are people who are
willing to pay for an expensive item without thinking and for them owning a luxury item will make their image in
society more valuable than ever. Meanwhile, DAFC, which distributes more than 60 luxury brands such as Rolex and
Cartier, claims its sales in Vietnam have increased by 35% in 2020. (Minh, 2022)
Factors affect consumption behaviors of customers in Viet Nam:
- It is about the unique and difference that Cartier brings to customers through each product. Each Cartier product
symbolizes something usually about fidelity in love, a symbol of a belief. And people nowadays, especially young
people they are desire something that different and have a high quality, with an average age of 32.5 years old and
37.7% of the urban population according to Worldmeter (Minh, 2022). The young and educated urban population is
the backbone of consumption. Cartier is very clever in choosing the fast growing places to put its stores there.
Brand credibility:
- However, any development that is too rapid has potential risks, especially for a complex emerging market like
Vietnam. Big brands in Vietnam can be easily faked with very sophisticated tricks to make them look like real
products. But to keep customer feel more secure about the product, when customer buy this product Cartier will give
them a code that when you scan it that will verify your product is real and you can easily prove it to people. But
nowadays, consumer become cleverer they decided to go directly to the store to buy the product.
Diversification seeking
- Today's consumers don't just stop at the features that the product usually brings. They expect to be able to integrate
more features in the same product. And with the criteria of being different and unique in its products, Cartier has
created a ring product that combines the technology in it. This product demonstrates Cartier's catching up with the
technological age and shows that Cartier's creativity comes from product developers.
Stores in Viet Nam
- Cartier entered the Vietnamese market early and has a great advantage over other competitors in the same industry.
By choosing locations with a large population and large purchasing power, such as Hanoi and Ho Chi Minh City.
Cartier has successfully penetrated into the Vietnamese market and achieved many achievements and made stable
profits. Despite the impact of Covid 19, those stores have still existed since the beginning of the epidemic until now.
hour. And that also makes Cartier better understand the wishes of customers about its products and has imported more
models so that customers can easily choose products right where they live without go abroad to buy the product or
wait for shipping from abroad.
 Customer Research
- Vietnam - a country where domestic demand for luxury goods has skyrocketed over the past few years. Vietnam is
currently ranked 3rd in the world in terms of the growth rate of the super-rich, which makes our country a potential
market for the luxury industry. Furthermore, Vietnam's middle-class population has grown massively over the years.
In fact, Nielsen forecasts this number will reach 95 million by 2030. (Minh, 2022)
- Because customers who buy luxury goods directly in Vietnam belong to the HENRY (High Earners Not Rich Yet)
customer group, we do not call them middle class, they are a group of customers. near-rich with an income of about
75,000 - 100,000 USD/year. HENRY customer group accounts for 15% of Vietnam's population. In addition to this
number, the group of people earning over 100,000 USD per year, rich and super rich, buy goods from abroad, luxury
goods in the form of express delivery, "portable"... in very large quantities. This number will make the luxury goods
market volume in Vietnam exceed billions of USDs. (Nguyên Nga,Mai Phương, 2020)
- Up to 56% of Vietnamese respondents said that they are willing to spend more money to buy branded goods. Today,
young people often follow the trend more than care about the real value that it brings. When they see a famous
product online or through an advertisement and see people spreading the word about it. They are always curious about
the product and always want to get it. By writing a story for that product or creating a distinctive feature for this ring,
Cartier has hit the hearts of today's young people and made this bracelet. Because this product is made for couple in
Valentine Day so is very suitable for couples who are in love or newlyweds because not only the unique beauty it
brings, this product also carries a noble meaning of couple's love.
III. Marketing strategy
1. Target segment
 Target group: Men and Women in the High-income group
- High-income individuals seeking high-quality rings or accessories in general
- Newlyweds seeking a one-of-a-kind piece of jewelry to commemorate their wedding or relationship

- Our new ring has an antique appearance but is packed with cutting-edge features like instant calling, one-touch texting, wireless
charging, and 5-year battery life. It's been six days. The product is going to be a hit with young people, which is exactly what we
want.
2. Positioning:
Creativity, freedom, sharing, and excellence are all central to its values. This vision enables a creative territory that is
shaped around a unique style. From jewelry and fine jewelry to watchmaking and perfumes: Cartier's creations symbolize
the fusion of exceptional savoir-faire and timelessness.
When you’re trolling 40-percent-off sales, searching for something passable to give your cousin’s new wife, the custom
of obligatory gift-giving can feel pointless. But then there are occasions that define the tradition — reasons so worth
celebrating that you’re giddy to give someone the special thing you’ve thoughtfully selected for them. For those big
moments, something truly lasting, timeless, and beautiful is in order. (O'Donnell, n.d.)
As everyone knows, Cartier offers luxury watches & stylized jewelry products. With that background, we ensureour
clients the best quality and beauty in our offerings. Our products, especially our new Verona ring, will offer the unique
feel that no other brands are able to offer and the accessory itself will become an inseparable piece in our clients closet.
“Cartier is a pioneering house, in constant creative exploration and strongly committed to come up with innovative
campaigns as well as collections that appeal to our diverse audiences,” - Arnaud Carrez (Nguyen, 2020)
Rankings : (Khan, 2014)
Most valuable brands: 2nd in the world
Luxury brands: 7th in the world
Top 100 Best global brands in the world: 60th on the list
(Statista, 2021)
 We chose this strategy because we see that Vietnam is on the rise and the trend of using luxury items in our country is
increasing. The rich and the upper class love to collect valuables to enhance their self-image. Or the couples use Cartier
products because of their meaning. And this ring made also helps couples' feelings become closer and besides, makes a
difference with other couples. That is what Cartier targets, make the customer feel unique and different.
IV. Marketing mix
1. Product
Focusing on simplicity and lightness but still exuding elegance and nobility, Verona rings always want to
bring the best experiences to couples. In order to keep the essence of Cartier but still combine with
experience and constant creativity, Verona rings always want to carry on their own imprints of love. This is
also the goal that Cartier wants to bring to customers, the wedding rings will be integrated with modern
technologies for the couple to show their care for each other.
Product material:
We understand that a wedding ring is a very important thing marking a milestone in everyone's life, with a
team of designers and artisans producing 100% of the details that require meticulous, sophisticated, Verona
rings will bring the couple the happiest feeling:
- Our products are often made from rare materials such as gold and diamonds. Not only that, the products are
designed with amazing sophistication. The luxury of each product is always sought after by fashionistas. We
choose luxurious raw materials because the customers we target are those from the upper class and want to be
able to fully express both their love and their class.
- In particular, the Verona ring is also equipped with the most modern technologies that allow users to interact
to increase affection even from a distance when your partner is on a business trip or not with you and you miss
him/her, you can text, chat or ring the bell twice. When using the most modern technology to create Verona
rings, we aim to give our customers the best experience and at the same time create loyal customers.
2. Price
Range of $ 2000 - $ 4000

Depends on product quality, designed according to customer's wishes.
- This is a product born to honor the love of the couple, so the brand has applied a high price policy for the
product through quality, design, technology equipment, and customer needs.
- In particular, the customers who buy this product are mainly seniors and in high segments where the brand
puts first instead of money. In order to capture the mass market, “Verona rings” need to apply a high price
policy to ensure the quality components of each ring.
=> Setting a high price is also because of the price of the raw materials to create this wedding ring and also
shows its elegance and nobility.
3. Place
Cartier is a multinational company with headquarters in Paris, France. Total sales achieved from Cartier's
European market always achieved high profits. Since completing a distribution agreement with China, the
company has significantly increased its stores and becomes the 3rd favorite luxury brand here (Tu, 2018)
Cartier has mastered the art of exploiting his relationship with the publisher brand to spread its story to those
who are not even their target market.
To enhance revenue, we - marketing experts decided to launch the "Verona ring”product at two main
locations in Vietnam as Hanoi and Ho Chi Minh city. These are the two places that make up the biggest
revenue in Cartier's total revenue in Vietnam, so the company decides to bring new products and these two
markets. We choose Hanoi and Ho Chi Minh City because these are two big cities of Vietnam with dense
population and rich people in Vietnam mainly concentrate here.
4. Promotion
As a product that customers can only buy once in their lifetime, Cartier also includes many promotions to
reach and attract more customers:
- Advertising: To bring the company's image to customers, we gives products to famous couples to
advertise, thereby creating more trust for future customers. Celebrities have always had a huge influence over
a large number of their followers, what they use often sets the trend and when we do this we will be very
successful in promoting Verona Rings .
- Public relations: reaching customers online is also the main goal that the company must achieve. The
company can attract customers online through social media such as Facebook, Youtube, Instagram, Line, etc. to
ensure the safety of customers because of the complicated development of covid 19. The Internet is becoming
increasingly crucial in life, especially given the still-stressful scenario of the COVID-19 outbreak and the
technological growth trend. According to data, Vietnamese Internet users spend a significant amount of time
watching TV streaming and using social networking platforms, with 2 hours 40 minutes and 2 hours 21 minutes
spent watching TV streaming and using social networking platforms, respectively. In 2021, there was substantial
growth in social network users in Vietnam, with more than 72 million individuals (representing 73.7 percent of the
population), up 7 million people from the previous year. Furthermore, YouTube continues to overtake Facebook as
the most popular social media platform in Vietnam. (Vnetwork, 2021). Because of the influence of social networks,
it is easier to reach customers when we use different social networking platforms to promote Verona Rings.
- Direct Marketing: With a team of enthusiastic and responsible consultants, they will always advise directly
to popularize products and let customers experience the most genuine feelings. As soon as a sample product
is available, the direct introduction of Verona Rings will create a feeling of trust and desire for customers to
experience, which brings very good results for product development and scale up customer
- Offer special services:
+ 10% off products when customers buy on Valentine's Day. The product was born to honor the beauty of
love, so the company decided to give customers a discount for buying rings of the day. Valentine's Day. This is also
Cartier's best wishes for its customers. Even if they are super-rich, the common mindset of Vietnamese people when
buying is that they pay special attention to reduced items, thus just lowering the price to a certain amount would help
the firm make more income.
+ Free laser engraving technology. To honor an eternal love, the laser engraving service at Cartier will be
completely free of charge according to the wishes of the customer. The company will engrave whatever customers
want to give them the best experience. Once they've created great customer experiences, they'll want to experience
those same offers and services again, making it easier than ever to create loyal customers.
(Tu, 2018)
5. People
- Salespeople play an important role in marketing efforts. Therefore, employees in our company have just been
trained in all the marketing skills in a methodical manner, to be able to show respect to customers who are considering
their preferences. Because we want to understand the thoughts and feelings of the guests who have come to Cartier,
we want to serve our customers in the most dedicated way.
- To be able to assist customers in necessary cases, solve product problems or answer customer inquiries related to
products/services, company policies and procedures. Customer care will contact us in case of any problem with the
product, or when the customer contacts us, we will guide the customer through the problem-solving process.
Customer service staff are trained to respect customers and do their best to solve their problems.
- To have the best products to serve customers is thanks to people who work with suppliers to obtain raw
materials. These people play an important role in maintaining or enhancing the quality of the final product created.
=> Employees will be the ones that manufacture the items, as well as the ones who directly contact and advise
consumers, so having strong knowledge, clever handling, and marketing skill will help us achieve our goal of having
clients who are entirely pleased with the product and want to return.
6. Physical evidence
- Since the Verona ring is a product for couples, the product has its own unique design to easily identify and attract
customers. They are placed on special shelves provided by the company, and come in distinct colors and designs. This
makes it easier to attract couples. From there, it is possible to collect feedback from customers about the product so
that it can be improved.
- We have a user-friendly online website and allow customers to view company products as well as Verona rings
with quality images. In addition, when customers consult as well as learn about Verona rings, they can also watch
cinematic products such as movies, short stories about love to better understand the meaning of Verona. That will
attract people to be interested in products for couples in general and Verona in particular
(Cartier, 2022)
7. Process
- Set up a system so retailers can notify when their inventory is low. Give them more products while ordering
production to replenish stock. This ensures that the product is always available to the customer when needed.
- To be able to experience as well as have the best view of the Verona ring, customers should go to Cartier sales
points for reference. But our company can still accept online orders through contacting customer service staff. Our
company has an online delivery process where orders are received in a computer system and based on these orders the
related product from the warehouse is sent to the delivery service provider.
- Research market opportunities to understand customer needs. It also develops an understanding of customer needs
and preferences through feedback collected in-store, or social media sites.
(Bhasin, 2019)
V. Action plan and budget
No. Task Activities Timeline Department Estimated budget

(USD)
1. Optional customer Marketers will have to create 05/03/2022 – Marketing 876
survey surveys about customers’ desires 12/03/2022 Sale
about wedding rings, materials,
and prices through interviews,
calls, applications on social
networking sites.
2. Contact investors Contact with investors to hold 07/03/2022 – Marketing 438
shareholder meetings to 10/03/2022 R&D
disseminate new products and
campaigns
3. Set up sample Based on drawing and 21/03/2022 – Production 132000
products requirements to create sample 15/04/2022 R&D
products
4. Launching new -Deploy projects to departments 16/09/2022 Marketing 30661881
product promotion to support technology, images, R&D
campaign and budget. Purchasing
-Finding KOL to create video HRM
promoting product Finance
-Notify all chain stores to prepare
for new product promotion
-Contact reporters to open press
conference about new product
-Launching a new product to the
market
5. Collect customer Staff will collect customers’ 16/10/2022 Marketing 21901
feedbacks feedback then send it to other Sale
departments to enhance product
and service.
VI. Marketing control and evaluation
From March 2022 to September 2022: The company will prepare new products and prepare related media campaigns from
cinema to radio and mass media.
In the first 3 months of the product launch, we will conduct a survey about customer opinions and change to match the market.
We're putting in place stringent controls to keep an eye on product quality, brand awareness, brand image, and customer
satisfaction. This activity enables the organization to respond promptly in the event of a malfunction. Month-to-month deals (by
segment and channel) and month-to-month expenses are two more early warning signs that will be studied for indicators of
divergence from the agreement. The market is constantly dynamic, thus contingency plans are always in place to accommodate
and adjust customer preferences when the environment, new goods, and competitors change.
Cartier places a premium on the customer experience, much more so than on the amount of things sold, hence there is a monthly
meeting to review product options and rate customer happiness.
References
Adams, 2013. Top watches for social peacocking. [Online]
Available at: http://www.forbes.com/sites/arieladams/2013/06/27/top-watches-for-social-peacocking/#60f5b9c53405
Alexa, 2022. Alexa. [Online]

Available at: https://www.alexa.com/siteinfo/darryring.com
Andreeew.hn, 2022. Woweekend. [Online]

Available at: https://www.wowweekend.vn/vi/blog/Verona-Thanh-pho-tinh-yeu-voi-cau-chuyen-lang-man-ve-Romeo-va-Juliet-
797?fbclid=IwAR0ZUY2vSCVU637g6dQHm8Db8Y4GNsHFctvPYnsgno12e2uWpwDDC_gqph8
Anh, D., 2021. 10 thương hiệu xa xỉ đắt giá nhất thế giới. [Online]
Available at: https://vneconomy.vn/10-thuong-hieu-xa-xi-dat-gia-nhat-the-gioi.htm
Anon., n.d. [Online].
Baldwin, A. G., 2017. Marketing: Jewellery Project. [Online]

Available at: https://issuu.com/alexandragonzbald/docs/jewelleryproject
Bhasin, H., 2019. Marketing Mix Of Cartier – Cartier Marketing Mix. [Online]
Available at: https://www.marketing91.com/marketing-mix-cartier-cartier-marketing-mix/
Bhasin, H., 2019. SWOT analysis of Cartier. [Online]

Available at: https://www.marketing91.com/swot-analysis-of-cartier/
Cartier, 2022. Cartier. [Online]

Available at: https://www.cartier.com/en-us/home/
Chunhui Wang, Jim Liu, 2014. The Development of Marketing Mix. [Online]
Available at: https://wenku.baidu.com/view/4996bf67804d2b160b4ec0f3.html?re=view
Encyclopedia, n.d. Encyclopedia. [Online]
Available at: https://www.encyclopedia.com/economics/economics-magazines/cartier-inc
Guru, 2021. Guru. [Online]

Available at: https://phongthuyguru.com/nhan-dr-trung-quoc/
[Accessed 10 March 2022].
Hạnh, L., 2021. Marketing AI. [Online]

Available at: https://marketingai.vn/nguyen-tac-tao-nen-cau-chuyen-thuong-hieu-cham-den-trai-tim-khach-
hang/?fbclid=IwAR3kcTBR9jqq9OAjUpGnJnmAMUYqthoCxNPLkZ-2Kj9wlw9ppphF8OCwOsY
Henry, Z., 2018. Case48. [Online]

Available at: https://www.case48.com/term-paper/Cartier-Marketing-Mix-13742
Insights, D., 2021. Dao Insights. [Online]

Available at: https://daoinsights.com/works/chinas-darry-ring-binds-partners-to-marriage-with-eternal-
ring/#:~:text=one%20engagement%20ring-
,Darry%20Ring%20is%20a%20Chinese%20jewellery%20brand%20founded%20under%20the,China%2C%20Hong%20Kong%
20and%20Paris.
Jones, S., 2014. Cartier exec says publisher-brand relationship is key to native advertising success. [Online]
Available at: https://www.luxurydaily.com/publisher-brand-relationship-is-key-to-native-advertising-success-cartier-exec/
Keller, 2002. Brand Management: Three questions you need to ask about your brand. [Online].
Keller, 2013. Strategic Brand Management: Building and managing brand equity (4th ed.). s.l.:s.n.
Khadem, 2016. Call for death tax on ‘super rich’ families. [Online]
Available at: http://www.smh.com.au/business/the-economy/call-for-death-tax-on-super-rich-families-20160208-gmp3du.html
Khan, M. K., 2014. CARTIER. [Online]
Available at: https://prezi.com/blinzftahu6i/cartier/
Luenendonk, M., 2019. Cleverism. [Online]

Available at: https://www.cleverism.com/marketing-department-organization-tools-responsibilities/
Luxury, B., 2021. Năm lý do đằng sau thành công bền bỉ của thương hiệu Cartier. [Online]
Available at: https://bossluxurywatch.vn/nam-ly-do-dang-sau-thanh-cong-ben-bi-cua-thuong-hieu-cartier
Minh, S., 2022. Lao Động. [Online]

Available at: https://laodong.vn/tu-lieu/nguoi-giau-o-viet-nam-gia-tang-thi-truong-tiem-nang-cho-mat-hang-xa-xi-1014013.ldo
Nguyên Nga,Mai Phương, 2020. Thanh Niên. [Online]

Available at: https://thanhnien.vn/hang-xa-xi-van-ban-chay-post1021990.html
Nguyen, A., 2020. Cartier Taps 5 Celebrities for Its New Watch Campaign. [Online]
Available at: https://www.thecut.com/2020/09/cartier-pasha-de-cartier-watch.html#_ga=2.112194308.1452336280.1646844640-
566883731.1646844640
O'Donnell, K., n.d. 15 Gifts Worthy of Major Life Moments. [Online]

Available at: https://www.thecut.com/2018/12/gifts-for-milestone-moments.html#_ga=2.8720437.1452336280.1646844640-
566883731.1646844640
Panda, 2021. Phụ kiện PandaThế giới phụ kiện. [Online]

Available at: https://phukienpanda.com/blog/nhan-cuoi-darry-ring-dr-chi-ban-cho-dan-ong/
Phuong, M., 2020. Thanh Niên. [Online]

Available at: https://thanhnien.vn/viet-nam-da-co-458-nguoi-sieu-giau-
post957260.html#:~:text=Ti%E1%BA%BFp%20theo%20l%C3%A0%20Vi%E1%BB%87t%20Nam%20v%E1%BB%9Bi%206
4%25%2C%20Trung,ki%E1%BA%BFn%20s%E1%BA%BD%20t%C4%83ng%20l%C3%AAn%206%20v%C3%A0o%20n%C
4%83m%202024.
Statista, 2021. Brand value of Cartier worldwide from 2016 to 2021. [Online]
Available at: https://www.statista.com/statistics/980726/cartier-brand-value-worldwide/
Stevens, 2004. Demographics that define the luxury market, reports unity marketing; three segments make up the top 20 percent
of U.S households.. [Online]
Available at: http://www.businesswire.com/news/home/20040331005031/en/Demographics-Define-Luxury-Market-Reports-
Unity-Marketing
Sullivan, 2013. How Americans learned to love Diamond. [Online]

Available at: https://www.nytimes.com/2013/05/05/fashion/weddings/how-americans-learned-to-love-diamonds.html?_r=0
Tu, A., 2018. Mặc chiến tranh thương mại, người Trung Quốc vẫn vung tiền cho hàng hiệu. [Online]
Available at: https://nhadautu.vn/mac-chien-tranh-thuong-mai-nguoi-trung-quoc-van-vung-tien-cho-hang-hieu-d14172.html
University, F. F., n.d. Cartier SWOT Analysis / Matrix. [Online]

Available at: http://fernfortuniversity.com/term-papers/swot/1433/1135-cartier.php
Vietanlaw, 2018. Vietanlaw. [Online]

Available at: https://luatvietan.vn/thue-nhap-khau-do-trang-suc.html
Vnetwork, 2021. Vnetwork. [Online]

Available at: https://vnetwork.vn/vi/news/thong-ke-tinh-hinh-internet-viet-nam-nam-
2021?jskey=q%B1Y%F6S%5E%87vk4%0A.%5E%40%16%88U%E9%AE%12Go%AA%E8%5B9%91%09%9A%0B%C3%C
B%05

5033 - Assignment 2 - Cartier

Uploaded by

Copyright:

Available Formats

You might also like

5033 - Assignment 2 - Cartier

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

5033 - Assignment 2 - Cartier

Uploaded by

Copyright:

Available Formats

ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 2. Marketing Planning and Processes

Submission date 12/03/2022 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student names & codes Final scores Signatures

1.Nguyen Thi Thao Nguyen GBH211277 Nguyen

2. Nguyen Minh Quan GBH211426 Quan

4. Tran Xuan Bach GCH200730 Bach

5.Tran Nguyen Quang Huy GCH18319 Huy

Class GBH 1104 Assessor name Hoang Thi Thu Phuong

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Grade: Assessor Signature: Date:

Signature & Date:

A. Company introduction ............................................................................................................................................................ 11

This plan consists of three main parts:

II. Situation analysis

1. Strengths in the SWOT analysis of Cartier

2. Weaknesses in the SWOT analysis of Cartier

3. Opportunities in the SWOT analysis of Cartier

4. Threats in the SWOT analysis of Cartier

4. Evaluation of current Marketing Strategy

170 years of jewelry brand accompanying the Royal Family

II. The reason why this new product

Cartier Darry Ring (DR)

 Target group: Men and Women in the High-income group

- High-income individuals seeking high-quality rings or accessories in general

- Newlyweds seeking a one-of-a-kind piece of jewelry to commemorate their wedding or relationship

Range of $ 2000 - $ 4000

V. Action plan and budget

No. Task Activities Timeline Department Estimated budget

Alexa, 2022. Alexa. [Online]

Andreeew.hn, 2022. Woweekend. [Online]

Anon., n.d. [Online].

Baldwin, A. G., 2017. Marketing: Jewellery Project. [Online]

Bhasin, H., 2019. SWOT analysis of Cartier. [Online]

Cartier, 2022. Cartier. [Online]

Guru, 2021. Guru. [Online]

Hạnh, L., 2021. Marketing AI. [Online]

Henry, Z., 2018. Case48. [Online]

Insights, D., 2021. Dao Insights. [Online]

Luenendonk, M., 2019. Cleverism. [Online]

Minh, S., 2022. Lao Động. [Online]