Chapter 7 - Business Marketing

In this chapter we are introduced to industrial marketing, also called business marketing. Business marketing is a way in which one company markets their products to other companies or organizations, for the purposes of non-personal use. However, Cartier is a prestigious worldwide renowned jewelry brand and the company itself is the manufacturer, distributor and retailer of its products. Moreover, Cartier has its own resource exporting company, called Cartier Resource Incorporated. Surprisingly, Cartier does have intense affiliations with other organizations.

Commonly known, behind the glitter of gold are ugly environmental and social costs. Mining industries cause ecological challenges in their search for raw materials. According to Eluxe magazine, Cartier was one of the founding members of the Responsible Jewelry Council. The council mandates that companies must be fully regulated and controlled when they mine for their gems and metals. The council also ensures that the communities involved in mining are paid fairly and are protected by the highest standards of safety and that environmental standards are met. Cartier not only provides their miners decent wages, but also offers education in finance and technology, a free health clinic, and builds roads where they are needed. Cartier has become more economically and environmentally sustainable than the other companies in their business field which is not easy to achieve by these days.

Cartier created the Cartier Women’s Initiative Awards in 2006 in order to encourage woman entrepreneurs. This is a joint partnership project initiated by Cartier, the Women’s Forum, McKinsey & Company (widely considered to be one of the most prestigious management consulting firms in the world), and INSEAD business school (widely considered to be one of the world’s best business schools). These organizations have joined together to create the Cartier Women’s Initiative Awards, which aim to support female entrepreneurs through mentoring, funding, networking opportunities, and media visibility. Each of these organizations provide experienced business coaches to guide the six award winners in preparation for the presentation, and then to assist the laureates with the essentials of running a business and keeping it thriving. Under the cooperation of Cartier and these organizations, this award is successfully conducted every year.

Through all the studies of marketing in this class, I have recognized several elements which are crucial to Cartier’s continuing success in its thriving business. These include endless innovation, precise investments and the rapid stream of their products. Additionally, unlike most huge companies, Cartier has had the sustainability on their business field which has truly impressed me by keeping the business thriving, and maintaining ethical practices in the environment and our society. 

Chapter 8 – Segmenting and Targeting Markets

In business field, market segmenting is defined to help marketers be more precisely to approach consumer needs and wants in the company’s existing products and future product. Furthermore, there are a few elements like geographic, demographic, psychographic, benefit and usage-rate that are essential in successful segmentation. Cartier’s business has been prominently thrived in the past century either in product lines or reputation all over the world. The company is looking to keep its luster in a market which is likely to become tougher for global luxury company.

An enormous international company like Cartier surely establishes its marketing mixes. The worst thing could possibly affect a gigantic company’s growth has to be the stagnant economy. Despite this anxiety, Cartier’s President and Chief Executive Bernard Fornas has addressed in its most recent financial announcement that Cartier can build on its sales because their unequalled creativity in all segments of watch-making, the industrial reactivity, flexibility and speed are all prevailed than the others and to pick up market share. In fact, the Cartier sales in Richmond’s jewelry house has rose to $ 4.67 billion in the first nine months of its 2012 financial year, up 30% from a year earlier. In 2012, the general sales in Cartier had increased 24% in its fiscal year. That’s impressive poll from the luxury daily news website.

The geographic segment is tailored for their main engines which include China, India, France, and America, and so on. Those regions are either have the highest population density or greatest purchasing power in all time. Especially in China, by far is the most rapid aggressively growth economy region. There is a saying in the Chinese “Who knows luxury jewelry, who knows Cartier”. In addition, Cartier is the number one jewelry brand in China. There are already forty two boutiques in twenty two major cities in China and the CEO has declared they will continue to open up to sixty five boutiques in thirty cities throughout the country by 2016. Cartier always spots the best location and it’s the most important step to open a new shop in anytime.

“There is no boundary in Cartier’s beauty innovation”, the slogan of Cartier. In demographic study of Cartier, regardless of where you are from, as long as you love the piece, it’s Cartier’s culture. Being universal is the world of Cartier. There are thirty designers from America, China, Japan, France, India and Italy from young to senior men and woman. They have the substantial varieties of power to enclose the consumers’ needs and wants and that’s the unique beauty of Cartier.

Now to sum up with analyzing Cartier’s psychographic, benefit and usage-rate segmentations in which the company has successfully implemented by all time. Every affluent women desire diamonds and men yearn for perfect timepieces. Cartier has captured the motives and lifestyles of their consumers and they have nailed down the business to this group of wealthy people with psychographic segmentation. Cognitively, Jewelry is representing a person’s status. “Jewelry takes people’s minds off your wrinkles”, people are seeking this solid benefits through their precious pieces and this is from the King of jewelry and jewelry for the King. In Affluent society, expensive jewelry is not only for wearing but also for collecting. Cartier has properly launched new products through holidays and special events or even red carpet seasons. The company has kept in close relationship with their loyalists and special collections have to be reserved for long term used customers. Indeed, Cartier is positioning the King of jewelry and its luxuriant brand all over the world.

Chapter 11 - Developing and Managing Products

Innovation of a company’s products is the main core to the business’s sustentions. In order to capture consumers’ attention and retain loyalties confidence to the company, it must have a new-product strategy which is a plan that links the new-product development process with marketing procedures. In addition, luxury jewelry marketers are launching their own brand fine jewelry rages and product lines. Therefore, Cartier has come up with new concepts to introduce new product line and implemented product development to consumers.

Cartier’s Love Bracelet is one of the most successful well known product since it was launched more than thirty years ago, it has become the most iconic coveted jewelry designs in the world and the ultimate symbol of love, which attracts worldwide loved couples’ favor. A few years ago, Cartier announced the launch of a new Love Charity bracelet to continue its success and product line. Not only this was a new launch product campaign, but also the reinforcement of the company’s reputation in the global charity. Cartier donated more than $2.24 million to sixteen global charities form the sales of its Love Charity bracelet, and due to the enormous success.

Never stop developing new concepts is part of Cartier’s mission, the consumers of the company are known as wealthy, upper class individuals and they are successful and they desire luxury. Cognitively, jewelry is the symbol of status. Whoever shops in Cartier has already known he or she already has the ability to afore this brand. However, Cartier has discovered a new product line for children and young adults, and this is the New-To-The-World products. A lot of jewelers are subconsciously assumed that luxury pieces are for mature affluent and they have ignored the younger generation in the wealthy world. Cartier’s new line includes Cartier’s signature pieces for children but also add jewelry that hasn’t been seen before. This addition to Cartier will relay a message to the younger generation that if young children can wear Cartier as well, so can someone in their early and late twenties.

Indeed, Cartier is a global jewelry company and their products will be drastically sold throughout Asia, Europe, North American and Africa. The company launches product and holiday specialties into media events, including New York’s Fashion Week, Cartier’s fashion events in Milan and the Cartier museums throughout the world.

Chapter 18 Social Media and Marketing

There are different channels to promote a company’s products; more traditionally is through television, newspaper, magazine or radio. However, technology has thoroughly impacted and improved our daily lives. It’s rather advantageous for everyone to communicate via Internet to one another, and the majority of potential consumers have various approaches to make purchases. Lately, huge companies are more focusing on social media campaign to interact with consumers. Cartier uses multiple mediums to promote advertisement campaigns.

One of the major social media platforms Cartier has been using is E-magazine Rouge Cartier, and the company has new launch every two months. Rough Cartier showcases inspiration, creations and extraordinary craftsmanship, and as well as offers a fascinating peek behind the doors of the prestigious mansion. Not only just by going to Cartier’s official website to obtain the E-magazine, you can also download Rouge Cartier’s application in Apple Store for free.

The company is pushing the E-magazine via a multichannel effort that including online and email marketing tactics. When the magazine launches, it brings web users to a table of contents displaying all the articles in the issue, and feature also tells readers what to expect from Cartier at a particular year’s festival. It’s an easy ways to convey message of their products through this social media, it’s definitely valuable for the company’s brand and their sales.

Here is the link to the E-magazine Rouge Cartier http://rouge.cartier.us/

The other major social media platforms are featured on emails, Facebook and Youbube. The company often keeps their loyal customer informed by sending emails regularly, to ensure their customers wouldn’t lose track with their products.  Currently Cartier’s Facebook page has almost two million likes on their site. According to Fashinbi’s website, the study of Cartier’s Facebook popularity in the market is incessantly growing. The statistic is based on the total counting per type of engagement, the comments, likes and shares are made by fans in a given period.

On Facebook, fans get to see behind the scenes shots of their world club, photos from worldwide location activities and all the campaign videos. Consumers share their feedbacks and comments on the site, also the company will launch the company’s events and activities through the site. On Youtube, the largest online video repository by far, there are gorgeously shot brand videos including L’Odyssee de Cartier, dreamlike piece in which the iconic Cartier panther comes to life and travels the world, and all the videos on Facebook is from Youtube links.

Cartier uses social media on marketing to keep its collection on top of mind among consumers and to maintain its position in the industry while using advanced marketing mediums to solidify the brand in the field. In the highly competitive and changing world of luxury, this is such a good reminder of what luxury really is. 

Chapter 10 - Product Concepts

Besides business management, advertisement, retailing and so on, the ultimate determinant from the house to the customer’s reliance is their products, in other words, a product defines everything from the whole process of manufacturing to retailing of a company. When we observe the stunning collections displayed on the store, you wouldn't realize how much effort the company has accomplished before the products are placed on the shelves. Indeed, product development at Cartier is a rigorous and complicated undertaking involving dozens of people from marketing and technical development.

According to Cartier’s product development website, every week, about fourteen members of the product development team, with about half from marketing who fly in from Paris headquarters and the rest are from the manufacture gather in the studio for a full day meeting to discuss projects of product in Switzerland. In each of these sessions, they will discuss development process, starting with new concepts all the way to finalizing the last piece form an upcoming product. It typically takes twelve to eighteen months for a project to get from concept to final product. The product development meeting in the studio deals with the first step of creation, from concept to final product; it is always thoroughly worked through during the studio meetings.

Cartier doesn't only offer a great product line as regards the types of jewelry, but also materials. Several types of metal, leather and stone varieties can be found on their shelves and website. Last week, I went visit the Fifth Avenue store and I was awed by every single glamorous piece in the house. The style is classic, conservative and very high-end. You can easily notice the placement in the store. They have different sections to let customers to pursue their own pieces; they are including the fancy jewelry collections, leather goods, fragrances, timepieces, bridal and accessories and they are all well organized. Cartier keeps the elegant taste, as the king in jewelry world; the elements are elaborately designed that it would be senseless not to covet a piece of jewelry from the shelves.

As the products are perfectly made from every aspect, the company offers return policy but WITHOUT warranties. Cartier allows customers to return products on the website or through the customer contact center within thirty days with receipt of the unused intact product; however, the returns of Cartier products which are not in compliance with the imperfect conditions of the product and no tolerance with the time frame exceeds the return period. Cartier makes no warranties of any kind, whether express or implied information, or any transaction that may be conducted or through their website or the customer contact center. Well, I assume that company is quite adamant and confident at their customers and products.

Chapter 17 Personal Selling and Sales Management

               

We have studied about how significant advertisements are for a company in the previous chapter. In this chapter, we will analyze the direct selling methods of products to customers and bonding long-term relationship with loyal customers and those are the prior steps in retail field. Nevertheless, sales management is the key to the golden gate. The main goal is to develop product or service offerings in order to build up healthy relationship with customers and to meet one another’s satisfaction. Cartier is a high-end luxury jewelry store as we all known, therefore, personal selling is surely important to the business. Cartier has highly gained their reputation through years; indeed the main ambition is to enhance the customers’ confidence on the company’s products.

                Cartier always keeps their employees knowledgeable, informative and friendly. Before the employees start working in the retail stores, they will be trained to be qualified customer services. According to some reviews from Cartier employees’ online, they addressed despite of Cartier is a shimmering luxurious atmosphere working place, it wouldn’t have too much stress and they have comfortable ideal environment. A few reviews said the company lacks modern on their products, it may affect their sales. I suppose the company tries to retain their classy traditional oriented on the products to have their brand signature. Overall, former customers gave them fine comments from the quality on both the service and the products.

                The employers inquire the applicants in search of employment with fashion sense or a love for precious stones, and then the company will hire professional retail employees to staff retail careers often.  Cartier sees clientele form all over the world, and employees must be able to demonstrate professionalism during the hiring process in order to be considered for employment.

                The business world of today is extremely competitive. Companies need to have an edge that make them stand out from the crowd, something that makes them more appealing and interesting to both the public and the service. Public relations involve popularizing successes; it provides a service for the company by helping to give the public and the company a better understanding of how the management works. Since the company is well prepared for the staff, they wouldn’t ignore the details in retailing field. They respect everyone who intends to patronize their products, they let you feel comfortable and not under pressure. The company offer after selling care as well, because they want to keep their customers satisfied in all time.

Chapter 16 - Advertising, Public Relations and Sales Promotion

Successful companies always have exclusive commercial tactics, impeccable strategies and creativity for their products. Social media is the most direct pathway to convey messages to the market and customers. In this chapter, we are introduced to the advertisement domain. Media impacts our lives every day; you can never go past a day without observing ads. Cartier has been awarded as 2012 Luxury Marketer of the year, and they use of multichannel campaigns that keep up its mystique in the eyes of consumers.

The first time while I watched the Cartier film which was released in March 2012, “L’Odyssee de Cartier “, it was absolutely stunning and jaw-dropping. In three and half minutes, they tell Cartier’s history that started out as jeweler to European royalty by delve into an imaginary world that is inhabited by its designs including the famed Cartier Panther, Tutti Frutti, the Santos watch and the dazzling jewelry of the maharajas. Cartier spent $5.3 million and two years at this elaboration. The film was spread via Cartier’s web site, online magazine and social media, and its highly reviewed in YouTube.

Cartier also took a multichannel approach to raise awareness for the release of the new Tank Anglaise watch this year. Cartier showed the history of its iconic Tank timepieces in a video and Facebook experience that launched at June, 22. With a focus on heritage and craft, Cartier released a 70-second video called “Never Stop Tank” that showcases the Tank watch model alongside the evolution of the arts.

Apple products are profoundly involved in our daily lives; Cartier has used the tendency to engage customers through their applications. You can simply go to iTunes, the media player and media library application developed by Apple company, and download “Cartier Art Magazine”, “Cartier Fine Watchmaking”, “Cartier Bridal for iPad” and “Rouge Cartier E-Magazine”. Those are all free and international available. The latest launch was the “Cartier Art Magazine” on August 8, 2013. Cartier’ E-Magazine is a prestigious art and culture magazine created in 2001 and published three times a year: February, June and October. Born of a desire to offer new ways of looking at art and the art of living, each issue focuses on a different theme, addressing subjects like design, gemstones, seduction, and ornaments.


When we think of Cartier and celebrities, we can never forget how gorgeous Princess Diana’s iconic style in her life with her jewelry, she had a Tank watch and a gold Tank Francaise. When she passed away in 1997, the royal legend is that Prince William asked for the Tank watch on a leather strap, because she had taught him how to tell time using it. First lady Michelle Obama posed for her first official White House portrait in pearls and her stainless steel Tank Francaise. Angelina Jolie, the named Hollywood’s highest-paid actress has worn both the Cartier Tank on a leather strap and the gold Tank Francaise, and also a Love Bracelet fan.

The downside about Cartier is they seldom have discount promotion, and they always have a stable solid price. The company more focuses on the quality instead of the marketing price. As I always say, Cartier is not made for everyone.