Provide a 11 pages analysis while answering the following question: Electronic Marketing and Singapore Jewelry Website. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. Teen Bling Accessories’ formula for success is a customer-centric approach where the customer is treated like a king. She assumes success would result if a low-price strategy is adopted which would be in line with her customer-centric approach.
Online jewelry business has a wide scope in today’s highly fashion-conscious world. In this era you can hardly find a female—more specifically, a teenaged girl—who is not conscious about her outlook and hence, wishes to look fashionable. Having internet-savvy and IT-literate people in Singapore presents a gigantic opportunity for Teen Bling Accessories as the rising shift to online shopping, to match the fast pace of life today, has paved way for electronic commerce to flourish in Singapore. A survey conducted in 2006 by Infocomm Development Authority concluded that “74% of homes in public housing and 92% of the homes in private housing had computer access at home” (Economist Intelligence Unit 2007).
In Segmentation, the potential market is divided into homogenous segments with similar needs, buying patterns or having similar responses to marketing efforts of the firm, etc, which can be done using a Customer Relationship Management (CRM) database system. A good marketer then focuses on a specific segment whose needs it can serve best—that segment is the target market (Hopps 2007). Trendy and affordable jewelry can be purchased by females of all age groups, not necessarily teenagers. Various segments may include women in their 20’s, 30’s, teenaged girls, etc. To reach the decision of selecting her target market, Teen Bling Accessories first analyzed her micro and macro environment.
Teen Bling Accessories is a trademark of high-fashion at affordable prices. Hence, trendy designs and affordability are the company’s resource-based opportunities which make way for Teen Bling Accessories to become a winner in its market.