Analysis Of Pandora Jewelry

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INTRODUCTION TO PANDORA

Pandora Jewelry is recognized as one of the most upcoming and unique jewelry company. It started its trade from Copenhagen, Denmark and now has become a global brand with stores in more than 80 countries on six continents. It is popular for its contemporary designs; inspired by Greek mythology Pandora uses hope and inspiration as the basis for their characteristic style. The product is targeted and designed for women with a concept to inspire women to express their individuality. It has a positive brand image for selling quality, hand finished and modern jewelry at affordable prices. Its strength relies on its unique selling point; it is a leading brand in the charms and bracelet category offering customizable accessories to its customers.

BRAND EQUITY

According to Kotler “Brand equity is the added value endowed on products and services, which may be reflected in the way consumers, think, feel and act with respect to the brand”.

The report will be looking into Aakers Brand Equity Model comprising of five components:

1.Brand Loyalty: is an extent to which consumers are committed to a certain Brand. Loyal consumers make repetitive purchases from the same Brand regardless of marketing pressures for example price and competitive products.
Companies like to use different marketing strategies to retain and increase loyal customers. Similarly Pandora uses channels like Pandora Club and social network sites like Facebook fan page to retain brand loyalty for existing and new customers. They also do loyalty card program like buy 10 Pandora items and get one free.

2.Brand Awareness: An extent to which a brand is recognized and consumers are aware of a certain product in the market. It is one of the most impo...

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...d add extra value to their brand.

Brand Extension: is a method in which a company launches a new product under the existing brand name but in a totally new category. Company uses this method hoping to leverage its existing customer base and brand loyalty to increase the revenues with the new offering. There should be usually some kind of logical association between the old product and the new one for Brand extension to be successful. (Investopedia)
Pandora can adopt this strategy by launching a new product under the name od Pandora Brand. Sunglass are a good option for them

Line Extension: an expansion of an existing product line. This adds varieties to the existing products for attracting new and existing customers by giving new options. (Investopedia)

Co Branding: when two firms form an alliance to work together to create a marketing synergy. (Investopedia)

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