Reference no: EM132067876

Introduction

Pandora was established in1982 as a jeweller's shop in Copenhagen, Denmark, by Danish goldsmith Per Enevoldsen and his better half Winnie. From the earliest starting point, they frequently set out to Thailand search of jewellery for importing. As the interest for their items rise, their concentration bit by bit moved towards wholesale to customers in Denmark. In 1987, following a few effective years as wholesalers, the retail exercises were ceased and the organization moved to bigger premises.  In 1989, the company decided to start manufacturing its jewellery in Thailand. Pandora entered in Australia in 2004. (Pandora , 2016)

Target Market

In the demographic segmentation, it can be noted that majority of the products from the Pandora Jewellery company are targeted atmajor women, and the target age for this women is between ages 25 and 45. The company believes that woman categorised to be aged between 25 and 45 are their primary clients. As per the company's research women between the ages of 25 and 45 own at least eight pieces of Jewellery and 3 out of those pieces of jewelry are estimated to cost $100 - $1500. The other type of consumers they target is men above 40-60 years.

In the geographical segmentation, it can be noted that they primarily target people from Europe and Asia. They believe that Europeans and Asians are their bread and butter. Europeans and Asians purchase most of their products.

In the psychographic segmentation, the company has identified the middle class, rich and wealthy as their primary customers. The general lifestyle of Pandora's jewelry company customers is the extravagant lifestyle.

In the behavioral market segmentation, the company has identified social media influences the purchase of their products; they have noted that whenever their products are talked a lot on social media their sales increases and vice versa. The company has noted that women influence other influence either positively or negatively towards the brand and consequently the results of the influence will directly or indirectly influence the sales of the company.