Get 20% Off + $20 Signup Bonus ! Limited Time, Hurry !
Get 20% Off + $20 Signup Bonus ! Limited Time, Hurry !
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

MKT202 Marketing Management

tag 0 Download 6 Pages / 1,252 Words tag 29-07-2020


Business sparkles for SK Jewellery Group

SK Jewellery Group is one of Singapore's best-known jewellers with a retail network of about 60 stores in the country, Malaysia, Thailand and China.It was founded in 1991 and listed on the Catalist board of the Singapore Exchange in 2015. It has certainly come a long way since setting up its first 700 sq ft goldsmith store, under the brand name Soo Kee Jewellery, in Bedok Central.

SK Jewellery Group's retail brands include Soo Kee Jewellery, which offers contemporary jewellery, SK Jewellery where products are designed to cater to a wide demographic for different occasions, and Love & Co, which focuses on bespoke bridal jewellery, particularly engagement and wedding bands.

The group also includes SK Bullion, which distributes precious metals in Singapore, Malaysia and Indonesia and provides storage services for them.

Q: How has SK Jewellery Group evolved over the years?

A: Over the decades, we have grown together with our customers to respond to evolving preferences and emerging trends. For example, our first store carried primarily yellow gold jewellery.

In 1996, Soo Kee pioneered the launch of contemporary white gold and diamond jewellery in Singapore to complement the modern working woman's wardrobe.

We created SK Jewellery in 2003 to offer an extensive range of jewellery for a wider demographic, and Love & Co in 2007 to cater to the evergreen bridal market.

In 2012, the group pioneered 999 Pure Gold jewellery and collectables under SK Jewellery, offering yet another choice from the traditional 916 gold here.

In 2016, realising that Singapore was enhancing its position as a precious metals trading hub, we seized the market opportunity to set up the bullion business. Riding on our expertise in gold, we launched SK Bullion, a holistic bullion service provider offering precious metals trading and storage services.

We are growing and adapting constantly, and our most recent ventures have been expanding into two new markets, China and Thailand, last year to tap their huge bridal market potential.

Q: Does SK Jewellery Group have a history of partnering other firms for growth? What are some of the partnerships it has established?

A: We actively seek strategic partnerships to access new markets and customers, accelerate product development and improve our competitive positioning. However, the key lies in choosing the right partners.

We believe in creating mutually beneficial partnerships, allowing us to leverage our partners' complementary strengths, network, market knowledge and customer bases.

For example, our exclusive partnership with the World Gold Council last year launched the Xifu collection in SK Jewellery showrooms here. This premier 999 Pure Gold collection targets the bridal "Si Dian Jin" market and is conceptualised to honour Chinese wedding traditions with a contemporary approach. (Si Dian Jin is a Teochew cultural tradition where the groom's parents gift the bride a set of four pieces of jewellery to welcome her into the family, symbolising a form of blessing.)

We are also the first in Asia to partner Sarine Technologies to launch the digital Sarine Light Performance diamond grading report. Foregoing printed reports, our customers can access a diamond's information through a digital link, anytime, anywhere, for high-quality 360-degree diamond images and grading information.

The group partnered De Beer's International Institute of Diamond Grading and Research in February last year to tap its expertise in polished diamond grading services. Through this retailer diamond grading partnership - the first in Asia - the proprietary Lovemarque diamond collection is marketed under our bridal specialist brand Love & Co.

To acquire new customers and strengthen our offerings, the group partnered licence holders of popular cartoon characters such as Disney Tsum Tsum and Peanuts (Snoopy) to offer exciting new collections targeting consumers of all ages, like the Snoopy Collection launched in December last year to usher in the Year of the Dog this year.

Q: Can you tell us more about Love & Co?

A: Love & Co is the leading bespoke bridal jewellery specialist in the region, crafting made- to-order engagement rings, wedding bands and other wedding jewellery, such as the signature Lovemarque and LVC Promise collections.

Through customisable design elements and personalisation services, we establish a relationship with our customers, helping them celebrate their journey of romance - from the proposal to the wedding, followed by subsequent anniversaries.

This year, we expanded into China and Thailand to tap the huge bridal market potential in these countries. Increasing disposable incomes and the growing acceptance of Western wedding customs by millennial couples in these markets, along with their huge populations, offer immense potential for Love & Co.

Q: The group has been active in the region, with recent store openings in Thailand and China. What drove its expansion plans?

A: Our expansion into China is driven by a combination of factors - the right timing, thanks to a booming wedding industry and impact of the country's one-child policy, and the right market - China is the world's fastest-growing consumer market.

We seek to tap the huge wedding industry in China, which brings in annual revenue of US$80 billion (S$110 billion) from more than 10 million couples getting married every year.

Love & Co opened its flagship store at Hong Kong Plaza, a shopping mall located within the key luxury shopping district in Shanghai, in May this year. The mall has an affluent clientele mix - individuals with high purchasing power and discerning tastes - similar to the clientele of the second Love & Co showroom located in Century Link, also in Shanghai.

Our entry into the wedding jewellery market in Thailand is spurred by the country's burgeoning luxury goods market. Thailand's population of 68 million presents a huge and untapped growth market.

In July this year, Love & Co opened its flagship store in Central World, the largest lifestyle shopping destination in Bangkok. The group also opened another store in Bangkok's Central Plaza Rama 3 recently.

We will continue to open more Love & Co stores in the first-tier cities of China and Thailand. Q: What can we expect from SK Jewellery Group?

A: We believe that staying focused on our core business goals is the way to grow.

Our first focus is to continuously differentiate ourselves with our product offerings, business concepts and brand experiences, anticipate consumer needs, and adapt quickly to create value for our customers. We will invest resources in these efforts even as we forge ahead with our regional expansion.

The next focus is to transform the business through job redesign and digitisation. We aim to create an omni-channel shopping experience in today's digital age by developing our e- commerce business.

We will further integrate online and offline processes, streamline retail operations and automate processes with the use of technology. This will enhance our business productivity and growth.

The last focus is to develop our human capital and talent pool. As we expand overseas, we seek to recruit more talent to run regional projects, as well as develop a holistic training programme to groom staff and equip them with relevant skills.

Our expansion into new geographies will also give our staff a rich cross-fertilisation of experiences and insights. Lastly, we will continue to engage and source for potential business partners.

Question 1

Analyse SK Jewellery Group and discuss how the four (4) components of holistic marketing, namely relationship marketing, integrated marketing, internal marketing and performance marketing can be implemented by SK Jewellery to grow its business.

Question 2

Apply the appropriate segmentation variables that SK Jewellery has used to segment consumers in the two overseas markets of China and Thailand; and explain the market entry strategy that SK Jewellery has adopted for each of these countries; providing two (2) reasons each to support your answer.

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 6 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Marketing Management. Retrieved from

"Marketing Management." My Assignment Help, 2020,

My Assignment Help (2020) Marketing Management [Online]. Available from:
[Accessed 29 May 2022].

My Assignment Help. 'Marketing Management' (My Assignment Help, 2020) <> accessed 29 May 2022.

My Assignment Help. Marketing Management [Internet]. My Assignment Help. 2020 [cited 29 May 2022]. Available from:

Are you unable to crack the code? Get quality assignment at to secure high grades in programming assignments. Our qualified experts provide programming help in Python, C, Java, DBMS, oracle etc. Java help and other object-oriented programming issues are solved by our experts at the best possible price. If you are in need of proofreading to check for the authenticity of the codes, you just place your request to our managers. Moreover, computer lab reports are also provided by our experts writing out the entire program with the outputs.

Latest Marketing Samples

HK2011 Buyer Beahviour

Download : 0 | Pages : 12
  • Course Code: HK2011
  • University: Holmes Institute
    icon is not sponsored or endorsed by this college or university

  • Country: Australia

Answer: Introduction The following assignment is about defining the consumer buying processes or determining the consumer buyer behaviors. In this assignment, there are two parts. The organization that has been selected for this assignment is the Holmes University that is situated in Australia. It is one of the most renowned business colleges in the world. The university began its journey in the year 1963 when they opened their business comme...

Read More arrow Tags: Australia Brisbane Management Mechanical Ventilation(critical care nursing) James Cook University Masters in Business Administration 

MKTG307 Consumer Behavior

Download : 0 | Pages : 5

Answers: Answer 1. Art and science have co-existed and has enlightened human beings from time immemorial. In history Renaissance period is one of the grounds breaking time for humanity where the culmination of both these subjects meet. The result of this period’s art and science are exemplary inventions, ideation, analysis, understanding and many more. Marketing is the process by which an aspect is portrayed and showcased along with fee...

Read More arrow Tags: Australia Old Westbury Management Consumer Business Behaviour University of Queensland MBA 

MKTG3002 Digital And Social Media Marketing

Download : 0 | Pages : 5

Answers: Answer to Question 1 The objective of this kind of activity is reducing the instances of sunburn in the persons who get the tan while travelling to a foreign country. The objective of the intervention is to reduce the tan level of the tourists, thereby promoting their optimum health. This is also the objective of the tourism company who strives to promote healthy tourism among their customers. Answer to Question 2 The interventions...

Read More arrow

MKT501 Marketing Management

Download : 0 | Pages : 15
  • Course Code: MKT501
  • University: Charles Sturt University
    icon is not sponsored or endorsed by this college or university

  • Country: Australia

Answer: Introduction In the growing competitiveness of the businesses in Australia, it is essential for an organization to design and implement effective marketing strategies in order to ensure the smooth running of the business operations despite of lots of market risks, uncertainties, and challenges in the Australian market. This report will describe the marketing mix components and will evaluate whether the marketing strategies and mix ele...

Read More arrow

BUSN20016 Research In Business

Download : 0 | Pages : 15

Answers: Introduction In the current business scenario, information technology is a big issue for companies which use manual technology in the retail industry. These issues are related to effectiveness, efficiency, profitability, and advantages. For optimum utilization of resources, the company needs the information technology because the manual process takes more time to access the information. Moreover, information technology has evolved in...

Read More arrow

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on then please raise the content removal request.

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?