Hi. I am a jewelry maker. I make lost wax castings of small carvings i make in my home, and have them professionally cast in precious metals. They range in price from $20-$200 wholesale, twice that retail. I am just starting out, so my only real market research is family and friends, all of whom have been very receptive to my designs despite their varying ages and backgrounds.
I have researched marketing trends for the textiles and fashion accessories industry in libraries and online; only the free stuff, i have yet to pay for anything, i would like to know what others feel their value is. I am dedicated to the craft of working with metal and following trends and themes within the industry. I have the start up capitol and have been writing up the business plan.
When i get to my target market i get stuck. I plan to sell my timeless, almost indestructible pieces of jewelry at monthly/weekly heavily publicized artists markets, a few small boutiques, and at a few online artisan shops. I also plan to solicit the line to larger retailers and specialty shops nationwide. According to my market research, i should target my marketing efforts towards the female baby boomer generation.
This poses a marketing problem for me. I want to continue my career as a jewelry designer long after this line is sold out and forgotten. I love my designs but they are nowhere near a reflection of my capabilities and goals as a jewelry designer. I have NO question about the quality of my product, don't get me wrong. I am sure my current line has mass market appeal. The difficulty is in naming and marketing my new brand to appeal to a more mature conservative audience while still maintaining an open door quality that would allow for a transition into edgy high fashion.
I know this is one heck of a question. I am pretty sure my issue is a marketing one, and i think having a blank slate is a great place to start carefully crafting the proper plan of attack, i mean action.
#1. "RE: target market crossroads" In response to Reply # 0
well I think you need to proceed with some of the ideas that you already have and see what happens before you try and get too far ahead of yourself. What about also seeking out advice from other jewelry makers and sellers?
#3. "RE: target market crossroads" In response to Reply # 0
We are a team of business students from Bryant University in Rhode Island and we have some advice to offer you. We personally feel that you could potentially benefit from creating multiple segments based on the price ranges that you offer. Since you have stated that your pieces range from $20 to $200, it could allow you to center how you target the different segments based on these prices. You could most likely generalize that the younger demographics, or the more high fashion and edgier clientele will have less disposable income to spend and therefore could fall more into the lower price ranged merchandise and vice versa. By doing this, you will be able to create different lines for your brand without necessarily limiting yourself to one particular market segment or stifling your creativity.