The House of Amber has been a dominant producer of jewelry. Looking at the different designs on the House of Amber website convinces me that it is the one of the best producers and manufacturer of jewelry ( House of Amber, 2016). The many years the company has been in the business act as a marketing tool to be able to show the customer that the company is experienced and produces quality products. However, the company has not fully embarked in the production of other forms of jewelry which would generate the company more profits. The jewelry industry is filled with many competitors. To be able to succeed, a business should be able to diversify its operations and to be innovative. In producing different types of jewelry for the poor as well as the rich customers, it will be successful in staying in business.
When discussing the current trends in the amber industry, it is speculated that the prices of the raw materials for making the jewelry have significantly reduced over the last year. It is, therefore, cheaper to produce the jewelry (Copenhagen, 2016). However, many competitors will come into the market fighting for the already small share of the market. There have been a lot of imitations in the market which cause people to think the House of Amber makes low-quality products (Sado, 2013). Customers are advised to buy the products from the stores opened by the company or online so that they are shipped to them (Sado, 2013).
In making suggestions, I would suggest that the company use technology to market its products. House of Amber can market its products by creating a mobile app which markets its products to customers. Customers can then review and purchase the product they like. The company can also offer to make custom made jewelry for customers who pay a specific price. This two suggestions will market the company more.
- Copenhagen, (2016). House of Amber. Visitcopenhagen. Retrieved 5 November 2016, from http://www.visitcopenhagen.com/copenhagen/house-amber-gdk773199
- House of Amber,. (2016). FREE ENTRANCE TO MUSEUM DURING WINTER HOLIDAY. Houseofamber.com. Retrieved 5 November 2016, from http://www.houseofamber.com/eng/events/index/view/free-entrance-to-museum
- Sado, A. (2013). Producers Talk About the Amber Market. Amber.com.pl. Retrieved 5 November 2016, from http://www.amber.com.pl/en/news/interviews/item/1928-producers-talk-about-the-amber-market
- Amber collection at the beautiful Amber Museum of Copenhagen. (2016). Houseofamber.com. Retrieved 5 November 2016, from http://www.houseofamber.com/eng/museum-collection/