CHAPTER 4- The Marketing Environment

In order to help the business to thrive among the market, one essential element to define is the marketing environment. In chapter 1, we have discussed the strategic planning. However, the environment is connected to the planning. As chapter 4 describes, even though the largest firm could not change the market environment, it can nevertheless influence the external events.

 

As we can see from my previous posts, Cartier is an international chain. The company’s most desirable consumers are the X-generation, which are the people who were born between 1965 and 1978. In recent years, Cartier has started affiliating more events than they ever did. The Women’s Initiative Awards is one of their most successful plans. It attracts participation from more businesswomen in the company, which helps the company to grow their sales. This year, six women who demonstrate outstanding entrepreneurial potential will take home the top prize along with a Cartier-crafted trophy.

 

In February of 2013, Cartier hosted one of the world's most prestigious automotive events, The Third Cartier Travel with Style Concourse d'Elegance; a one of a kind vintage car exhibition and competition held every two years in India. After China, which has the largest population and the most rapidly growing economy, India has the second largest population of the world. Therefore, it is Cartier’s second target market. The company is looking to expand its distribution network in the country’s luxury industry. Cartier has been a relative latecomer to India — luxury labels like Louis Vuitton, Hermes, Christian Dior and Chanel, to name a few, have long preceded it in India. But Cartier is counting on succeeding, and dominating the Indian jewelry market environment.

 

CHAPTER 3 - Ethics & Social Responsibility

Ethics is just like the intangible spirit in business. As the chapter describes, Ethics is to the moral principles or values that generally govern the conduct of an individual or group. A lot of companies have valued the importance of ethical behavior and training. The company’s managerial system is the core of this concept. For Cartier, social responsibility is paramount and has governed its ethics from the start. Cartier co-founded the Council for Responsible Jewelry in 2005.

In Cartier’s official website, they have addressed their performance in their company has been spotlighted in ethics and responsibility. Tradition has become Cartier’s duty, this commitment to extend to creations, savoir-faire and quality of service, as well as in the way to conduct activities- ethically, socially, and environmentally. With the Corporate Responsibility policy, Cartier formalized their commitments as a responsible jeweler and dedication to continuing improvement. From workshops to boutiques, they make sure the employees are kept informed in order to ensure that these commitments are honored in daily operation.

Cartier have chosen to formalize their commitments in Corporate Responsibility policy, it applies to all product lines, activities and entire supply chains. Especially on suppliers, as day-to –day practice reflect on the house. Cartier collaborates closely with its suppliers to encourage their participation and assist them in complying with their requirements.

Practical implementation of this policy is subject to audits conducted by their independent, international firm. These audits cover a great many criteria and encourage a process of continuous improvement through the sharing of best practices. There will be zero toleration for corruption or money laundering, conducting business with integrity and value transparency. Comply with applicable laws and regulations. Uphold the Universal Declaration of Human Rights and ensure compliance with its principles, neither child labor nor forced labor will occur in the company. Maintain the highest standards in matters of health and safety, safeguard the environment. Minimize the use of toxic materials in the operations, minimize the negative impact of the activities on the environment, etc. 

According to the former or current Cartier employees on the yelp review site, the company has more than eighty percent of positive review of working in the company. “Working in an international chain company, but I feel like working in a family field”, it’s the direct quote from a current employee from Yelp’s website.

CHAPTER 2 Strategic Planning for Competitive Advantage

Cartier is the trend of luxury jeweler industry and the symbol of elegance at the turn of the century.  The mission of the company is to deliver the finest goods to customers all over the world. The company has a long and distinguished history of serving royalty, as well as stars and celebrities. Since the brand is prestigious with its high quality and luxuriance, Cartier continues to be synonymous with its signature jewelry and exclusive wristwatches, love bracelets, Trinity rings and diamond necklaces.

SWOT analysis:

Strength: Cartier is one of the most historical luxury industries all over the globe by 166 years since 1847 to present; it operates its own chain of nearly 200 retail stores, including the company’s flagship locations in Paris, New York, and London. The company brand is known as accessories to the wealthy upscale market and royal society, indeed, the company is recognized as noble and notable in the luxury field. However, the popularity is spreading by medias and celebrities. Recently, the beautiful Canadian actress, A.J. Cook, was seen wearing the Cartier Ballon Bleu while filming the popular CBS television series Criminal Minds in which she plays as Supervisory Special Agent Jennifer Jareau. Reality star, Kris Jenner, who is best known as being the mother of Kim, Khloe, and Kourtney Kardashian, was also recently seen sporting a Cartier Ballon Blue watch at the launch party of the Kardashian Khaos store in Mirage Hotel in Las Vegas. Other celebrities that have been spotted wearing a Cartier Ballon Bleu watch include American actress Lindsay Lohan, American reality TV star and fashion stylist Rachel Zoe, South Korean actress Yoon Eun Hye, and British television personality and model Tamara Ecclestone.

Weakness: As like a lot of famous brands, Cartier is facing the same predicament-counterfeits. According to the Women’s Wear Daily and Jeweller magazine’s websites, Cartier had sued a few online websites, including Amazon, for selling counterfeits of Cartier wristwatches and jewelry. Not only the real counterfeits, but also some smaller jeweler industries have simulated the design from Cartier. For example, HauteLook, is a Los Angeles-based online designer goods retailer. HauteLook states on its website that it “never sells second-hand merchandise ever”. It goes on further to say that it “partners with premium fashion and lifestyle brands to create private, upscale sale events.” Cartier claimed it has never had a partnership with HauteLook and accused the retailer of “false advertising, unfair competition and trademark infringement”, according to a statement.


Opportunities: The business has always thrived internationally. In March 2012, Cartier had released the film with ambitious short to feature three panthers and a host of fantasy scenes, it’s called “L’Odyssée de Cartier” In honor of Cartier’s 165th anniversary, and the panther will take viewers on a journey through Cartier’s iconic designs during the three-and-a-half-minute spectacular. On the other hand, the Cartier Women’s Initiative Awards was created in 2006. Cartier is looking for exceptional international female entrepreneurs through this business plan competition. Since their inception from the beginning, they have accompanied over 100 promising female business-owners and recognized 32 laureates in different continent, Africa, Asia, Europe, Latin America and North America. Candidates, who can be from any countries, are eligible to apply for the award on Cartier’s official website. The prize includes personalized coaching, a $20,000 grant as well as an invitation to the Women’s Forum Global Meeting in Deauville, France. Plus a coaching support for one full year form Cartier’s business management and a trophy designed by Cartier. It’s definitely a great opportunity for global business.

Threats: Running a business is being in risk. Cartier is one of the finest jeweler industries, but there are competitors in the same field to deliver their best goods to every consumer. One of the rivals to Cartier is the well-known watch’s European brand Rolex. Cartier is famous with their timepieces-rectangle wristwatches. However, Rolex is a watch manufacturing. They focus on watches, which now became the top watch’s brand in the field. In jewelry brands, Tiffany and CO. is an American multinational luxury jewelry and specialty retailer, they were founded in 19th century. Although Cartier is upper scale that Tiffany’s, Tiffany has more variety to consumers. They have high-end jewelry pieces and they have obtainable pieces for their admirers.

The four Ps

Product: The Maison has the most elaborate collections. In the product catalog pages, each set of collection pages starts off with a poem.
Panthère de Cartier collection-Other lines shown in the e-catalog are Caresse d’orchidées par Cartier, Cartier d’Amour, Diamants Légers de Cartier, Trinity, Love, Juste un Clou and Entrelacés.
Trinity section All necklaces, bracelets, rings and other pieces are shown next to a plus-sign icon that, when clicked, opens a box to show the collection name, item name, materials, item number and a link to find out more.
Juste un Clou section Consumers can click to view the item on Cartier’s U.S. e-boutique where they can purchase the item if available, read a full description, view video on the collection and contact an ambassador.

 

Price: The price range is various in white gold, yellow gold, pink gold and diamond. The common price to purchase is around five thousand and more, since they are the high-end industry, they rarely do sales or discount as the others. Nevertheless, Cartier still remains a worldwide bestseller through the end of the century.

Place: Cartier is a worldwide manufacturing. Cartier operates its own chain of nearly 200 retail stores, including the company's flagship locations in Paris, New York, and London; during the 1990s the company made strong expansion moves, opening in such mid-level markets as St. Louis and Seattle.

 

Promotion: In special occasions, like mother’s day, valentines’ day and especially Christmas, Cartier will have special collections for their admirers. It always helps when you want to celebrate and make a nice purchase for your love ones. As Cartier’s CEO told in a media interview “there’s no substitute for ice as my wife likes to say”.

 

 

 

CHAPTER 1 Overview of Marketing - MISSION

The name Cartier is synonymous with beautiful objects of quality and style. Although Cartier are perhaps better known for their fine jewellery, their signed wristwatches have made a huge impression on the global watch market and have become increasingly collectable over the years.

Cartier is well known for its jewellery and wrist watches, including the "Bestiary" (best illustrated by the Panthère brooch of the 1940s created for Wallis Simpson), the diamond necklace created for Bhupinder Singh the Maharaja of Patiala and the first practical wristwatch, the "Santos," of 1904.

Cartier’s display in the Pavilion de l’Elegance was decorated with Black Panther skins by the fashion house Jenny and black and white Zebra skins by the Paris couture house ‘Callot Soers’, which was operated by four sisters and known for its exotic detail.