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How mens black titanium rings seized the bulk of titanium jewelry market
There is a story that is often told by marketing teachers when trying to demonstrate, that, in economy applying common sense is not always such a good idea. The perfume market resembles the jewelry market in many ways. The segmentation is pretty much the same. There are some “loyal buyers” that have decided a long time ago what kind of product suit them best. They are pretty much constants in their decisions, and are not likely to make any radical changes in their buying customs. But before becoming “loyal” the exact same people make the bulk of consumers that purchase jewelry and expensive accessory items – such as perfume. They are a young, non-conformist crowd that is extremely willing to try new things. And they are ready to pay good money for the privilege. Let’s get back to the story. BIC is a world leading manufacturers of stationery, lighters and shavers. At the time, the retail market was not dominated by the all-mighty super-hyper-mega-buster-market as it is today. The bulk of the revenue was obtained from multiple small independently operated shops that were selling many of these products. And BIC thought they could try to expand their traditional catalogue by adding perfumery products. BIC is a French based company, so they had no problems in finding a perfume specialist to devise a fragrance that could match the top-sellers. I assume you know that, as USA is home to mens black titanium rings, so is France to perfumes. BIC’s traditional marketing approach is that they deliver top quality products, for affordable prices. They key here is the pairing “top-affordable”, which is still quite unique. Usually top-quality means high price, and affordable means lower quality. Obviously, they delivered. It was a great perfume – an unmistakable fragrance made from essential oils from one of France reputed manufacturers. And they made their pockets ready in order to be able to withstand the weight of profits coming form this new revenue stream. Surprisingly, it never came. The launch was a failure. What was the reason? They eventually figured it out that the perfume buying crowd does not expect “affordable” when purchasing a “top-quality” perfume. It simply does not meet their perceived quality expectations. This story clearly underlines why a producer must take care FIRST of what the buyers believe it’s a good product, which is not necessarily identical to what a good product really is. In terms of titanium jewelry, this translates in the following phrases: 1. If its jewelry, then it must be new and spectacular – thus, titanium. 2. If it’s titanium, then it must be men’s jewelry. 3. If it’s men jewelry, then it must be black. Thus, mens black titanium rings. And you can find the best of them at Superior Titanium, a long time provider of titanium accessories.
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