Understanding consumer behavior and their tastes, which stem from the customs and traditions of society, is the principal key to the success of brands in the major marketing programs of the jewelry business. With technological advancements and the production of comfort-enhancing goods, as well as the expansion of societal lifestyles, the expectations of jewelry customers have increased significantly compared to several years ago. Beyond good and excellent quality, these buyers now more than ever demand distinctive design and differentiated services that convey a sense of distinction and exclusivity.
For this reason, many jewelry business owners seek advancement and development across all aspects of their operations in order to attract a significant share of this customer segment. Achieving this goal, however, is not simple; each day the market becomes broader, competitors increase, and the diversity of ordinary products available in the market is not a solution. From a simpler perspective, it becomes clear that one must shift from simple jewelry styles toward distinctive, so-called fashion-oriented jewelry—pieces that are even aligned with annual trends.
To accomplish this, we must understand how a luxury business differs from other businesses in the market. In this type of business, creating differentiation from competitors is not of primary importance, because competitors are not meant to know your methods. Rather, in a luxury business, producing unique and exceptional goods is a vital condition—goods that possess an independent identity and their own compelling stories, and that are produced in very limited quantities (Limited), thereby conveying a sense of rarity and exclusivity to the customer.
It should be noted that in offering luxury goods, unlike traditional marketing, the design and method of product presentation are of great importance. One might even say they may not align with customers’ expressed preferences; in other words, owners of such businesses may create innovative styles and methods for presenting their exquisite goods that may not be widely accepted or favored by the general public. This does not matter, because exclusive and exquisite goods do not seek mass approval; rather, they have specific audiences—audiences who, in pursuit of experiencing a sense of distinction, do not favor common and repetitive products in the market.
Thus, we can conclude that to establish such a business, we must first forget everything we have learned from traditional marketing, and more interestingly, even experiential marketing (Experiential Marketing) will not be particularly helpful. A luxury business in no way seeks to meet essential life needs and necessities; instead, it exists to display prosperity and social status and carries a strong outward, symbolic dimension. It is precisely the creation of such feelings that has significantly increased the desire to purchase luxury goods in recent years. In Iran, however, very few individuals have understood this market style and have creatively shifted their direction.
To create an appropriate structure that leads to this business model, highly precise, dynamic, and modern marketing programs are required—programs that must be bold and creative, perhaps even necessitating the presence of a young sociologist within the think tank. One of the most important areas of transformation is product design: distinctive designs with concepts (Concept) and new ideas that align with the customs and temperament of today’s luxury-oriented society. Special and unfamiliar designs that dramatically disrupt customers’ visual balance in an exciting way—so that upon seeing these designs, customers feel they have been searching for this style and model of work for many years and have finally achieved their dream and found what they had been missing.
An exquisite product will be valuable only when presented in a completely ceremonial, enchanting, and extraordinarily luxurious setting—a place where, upon entering, customers are astonished by the beauty and uniqueness of your gallery even before seeing the products. Naturally, to create such a space, you must benefit from experienced architectural engineers. Alongside a luxurious environment, jewelry sales staff with an excellent appearance, strong eloquence, and extensive knowledge of gemology are extremely important.
Another increasingly prominent factor in recent years is service: firm and comprehensive commitment to obligations, even beyond customers’ expectations—so that buyers experience no concerns whatsoever. You must bear in mind that these customers are highly precise and sensitive, possess relatively distinct temperaments, and certainly have considerable knowledge about jewelry. Therefore, you must remain alert and prepared to face every type of customer.
Now, after all these plans, perhaps the most important element in recent years—whose absence in practice will damage your credibility—is communications and the digital sphere. Special attention to building a fully professional and attractive website with legal permits and a payment gateway, along with launching an Instagram page supported by professional photography presented in various collections, will be possible and will grant your brand significant and distinctive credibility.
It is entirely clear that implementing such fundamental transformations requires very high expenditures, which still do not mark the end of the process; you will also need luxurious advertising placed before select audiences, such as in hotels, airplanes, and specialized seminars. However, keep in mind that the total expenses incurred will not be of great importance, because your products will always be offered at prices far higher than their intrinsic value. This is because you are not merely selling a product; you are offering a new lifestyle and a different purchasing experience to the customer.
Your customers will not be broad in number and will be very limited, yet those limited customers will often be highly satisfied with this style of business, and high prices will not matter much to them, because they too seek difference and exclusivity—even if experiencing these feelings comes at a high cost. Simply put, you may have customers who appear few in number but are extremely loyal—customers who have complete trust in you and prefer only your jewelry.
Farzad Zarrinpoor
DBA Doctorate, MBA Graduate,
and Architectural Engineer
