As we all know High marketing makes the item seem more valuable than it is. For example, if someone came to my jewelry store and wanted to sell me a pandora bracelet I would but it for the value of the silver that is in it. Generally silver is very cheap and the total silver weight of the pandora bracelet is only worth about $0.70 or 70 cents. That’s it.
First one you need to produce a product of greater quality or benefit than what your lower cost competitors have, in order to validate a higher cost. This may mean production is local, versus sent abroad, materials must be sourced at a higher quality level,
Second things you need to build brand equity by marketing, which is higher and more targeted than your competitors.
Quality + Marketing + Demand
And the last one you are trying to grow, maybe even globally, because a true successful business these days can not live only locally. Penetrating foreign markets takes research, different consulting groups on the ground.
Having worked at luxury brands I can tell you from a corporate perspective, it is not an easy climb to selling your goods for a premium.
First, you need to produce a product of greater quality or benefit than what your lower cost competitors have, in order to validate a higher cost. This may mean production is local, versus sent abroad, materials must be sourced at a higher quality level, the designers can be either famous (branded) or command a greater pedigree, one must have more exacting standards and a stronger customer service model where there will be a lot of waste and returns to ensure the items in the market meet this higher level of quality. This all costs money to do.
Second, you need to build the brand equity by marketing, which is higher and more targeted than your competitors. If they advertise in a teen magazine, you will advertise in Town and Country. If they use second rate marketing agencies, you will use a top-tier agency to ensure your brand strategy is at a higher level and penetrating the right market with the right brand cohesion. There is no room at the top to get it wrong. You may need to increase budgets and staff at every level to ensure shipping runs smoothly, distributors are managed well, quality assurance is top notch, production and advertising are working to produce that brand equity you need to back up all your expensive advertising, or your brand is done for. That takes money.
Third, you are trying to grow, maybe even globally, because a true successful business these days can not live only locally. Penetrating foreign markets takes research, different consulting groups on the ground, investments, new local advertising and lots of time running without profit for sometimes even years. These things are often funded by the market that is in a mature state, so the cash cow is supporting the question mark market. More sales, more growth, higher quality, higher marketing branding, all this requires (and attracts) higher talent who in turn commands a higher salary and competitive benefits, and that takes money.
The inherent costs of running a successful, sustainable quality high-end brand requires the money they pass on to the customers for the caché of wearing that brand. If it was just money over fist being made for charging a lot on a cheaply made product, everyone would do it. But the market demand for something that does not support customer’s requirements will die fast and the company will not be able to charge premiums once that initial excitement is over their product. You must deliver something premium, consistently. And that takes money.
When it comes to selecting the perfect gift for a woman, jewelry is always a good choice&emdash;especially when it represents something special and meaningful. And PANDORA charms can do just that.
Whether you’re starting new or looking to add to an existing PANDORA bracelet, below are some of the most popular PANDORA charms that can add some special meaning and sparkle:
1. Signature Heart Birthstone Charms
Birthstones and Zodiac signs are rooted in the ancient astrological lore and have become a small part of our identities. These Signature Heart Birthstone Charms, from our PANDORA Birthstone & Zodiac Charms collection, feature a stunning design and a touch of sparkle to represent a little piece of who she is or people who are important to her.
2. Minnie & Mickey Kissing Charm
Minnie and Mickey are one of the most beloved couples of all time. The adorable Minnie & Mickey Kiss Charm features the love and romance the historic couple share, and can be the perfect gift if your special someone is a Disney fan.
3. Guardian Angel Wings Charm
Throughout our lives, we’re often touched by special people. When they leave us, it’s always too soon. The Guardian Angel Wings Charm is a great way to remember a special loved one and keep them close.
4. Heartfelt Charm
The heart is a universal symbol of love. The Heartfelt Charm, shown here in PANDORA Rose™, features a beautiful pink finish and multiple open hearts, captures the sincere love you feel for someone special.
5. Love & Family Charm
Someone once said that family is where life begins and where love never ends. The Love & Family Charm embodies this sentiment. Featuring “Family” on one side and “Love” on the other, this charm is also detailed with smiling faces. Whether you’re shopping for your mom, sister or partner, this charm is perfect for any woman in your family.