Executive Summary

The Celestial Jewelry will be a business unlike any other in Paso de Blas, Valenzuela City.
The business will be a welcoming and adaptable environment, where people can come
to express their unique style, a symbol of power and status, or form of self-expression
and a way to showcase one’s personality. We will provide consistent and superior
customer service, offer quality, and uphold an environment that promotes creativity at
all times. Through these core values we expect to gain high consumer-perceived value of
our product. This perceived value will enable us to penetrate the market and gain
market share. From a situational analysis, we have determined our industry to be one
that provides unique style, social status, and success (Rosenblat, 2020). There are many
different reasons why people purchase and wear jewelry, including both useful and
sentimental ones. First of all, wearing jewelry is frequently considered as a way for
people to express themselves and show off their individuality, creativity, and sense of
style. It can be used to improve individual fashion choices and acts as a medium for
expressing one’s individuality.

In addition, since jewelry is frequently connected to important occasions, meaningful

relationships, and treasured memories, it also has sentimental value. Jewelry may cause
strong emotional ties and act as a tangible memory of essential occasions, whether it’s
an engagement ring that represents love and commitment or a family treasure that has
been passed down through the centuries. It can serve as a way to display one’s
achievements and elevate their perceived image (Herrity, 2023). To sum up, jewelry is
essential to cultural and traditional customs. It is frequently closely linked to religious
convictions, customs, and rituals, acting as a way to uphold societal norms, honor
cultural history, and show religion.

Business Description

The Celestial Jewelry is a locally owned and operated business in Paso de Blas,
Valenzuela City. We pride ourselves in providing excellent customer service in a
friendly, welcoming and adaptable environment. All of the accessories or jewelries
we source is ethical, sustainable, and local when possible. We strive to enhance
the ordinary jewelry experience by offering the unique element of being able to
self-express through many different forms of art. We are hoping to become one of
the most popular establishments for people to go to in Valenzuela by offering a
product that can satisfy the consumer demand for quality and ethically sourced
jewelry, as well as being a place where people can find time to find their unique
pieces by themselves or with friends. We will achieve this by positioning our
business as accurately as we can in the minds of our target markets, who include
millennials, and middle-aged educated adults. We are very optimistic about the
success of our business because of the fact that the industry is in a high growth
stage, generational trends seem to be favouring our product offerings, and the age
demographics in in the City of Valenzuela are fitting with our business objectives
and strategies. The jewelry will offer a wide selection of speciality pieces as well as
a unique crafted designs. In addition, we offer the unique value proposition of
being able to create and explore many different forms of art in our establishment.
We plan to uphold an environment that promotes self-expression and creativity at
all times, by encouraging people to write on our confession walls. There will be
live music held on a regular basis as well, which will be open to the public for a
pre-determined fee.

Mission

Our mission is to provide our customers with a unique and welcoming environment,
where they can showcase their creativity in a vibrant social setting.

l. Objectives

Our jewelry business is dedicated to providing the highest quality jewelry pieces. We aim
to expand in the market by researching our potential customers and developing creative
marketing strategies to drive sales. We will consider factors such as competition,
demographic, customer preferences, and local trends. Also, we will use various channels
to spread it in online platforms about our products, including social media, influencer
marketing, and traditional advertising.

We will offer unique jewelry pieces at competitive prices. Furthermore, we will focus on
creating a strong brand and identity to distinguish ourselves in the market as well as
developing social media channels and influencer campaigns to grow our reach. In
addition, we will create a website and e-commerce store to provide customers with an
easy way to purchase our products. Lastly, we will develop relationships with suppliers
and distributors to ensure timely and consistent delivery of products.

II. Product/Service

Welcome to our Jewelry Business, where we specialize in beautiful pearl necklaces!

If you're looking for a timeless, classic piece that can be worn with just about
anything, our pearls are the perfect choice. Our selection includes a range of
different colors, from classic white to warm shades of champagne and creamy
browns. Each pearl is hand-selected to ensure the highest quality and consistency,
and our necklaces are available in a variety of styles, from simple and elegant to
glamorous and eye-catching. We also offer a range of other services, including
custom design, inspection and appraisal, and repair services, to ensure that your
pearls are always in perfect condition. Whether you're looking for a perfect gift or
just want to treat yourself to something special, our pearl necklaces are the perfect
choice. Jewelry is a coveted art form and has been around for centuries as a way to
showcase beauty and express the wearer's individualism. In order to thrive in the
jewelry business, it is important to offer a wide range of products and services. Pearl
jewelry is a unique category of jewelry and the products that can be offered are
diverse. One product that can be offered is a customized pearl necklace, bracelet,
earrings, or a ring. The customer can choose the type of pearl, such as white, black,
pink, or a combination of colors, as well as the type of setting or style. Another
product that can be offered is a pearl jewelry cleaning service where the customer
can bring their jewelry for cleaning and polishing, or a pearl jewelry protection
service where the jewelry can be protected from damage and wear and tear. A new
product that can be offered is pearl jewelry repair services for customers who have
pearl jewelry that has been damaged and needs to be fixed.

Trust our skilled artisans to breathe new life into your beloved jewelry with our
repair and restoration services. Appraisal: Gain peace of mind knowing the true
value of your precious pieces with our professional appraisal services. Cleaning &
Maintenance: Keep your jewelry shining bright with our expert cleaning and
maintenance solutions, ensuring longevity and brilliance. One idea for a product and
service for a jewelry business is the customization of jewelry pieces. By offering
customers the ability to choose the color, size, and features of their jewelry, jewelry
stores can attract a wider range of customers and increase sales. Additionally,
providing services such as jewelry repair and cleaning can build trust and customer
loyalty. Our jewelry business requires various services for its success, including
manufacturing and designing jewelry, providing repair and maintenance services,
appraising and valuing jewelry, consulting and advising customers on choices and
styles, safely delivering jewelry pieces, marketing and advertising jewelry, and
providing exceptional customer service to ensure satisfaction. Each of these services
plays a critical role in the success of the jewelry business, creating a unique and
appealing product that meets customers' needs and expectations.

III. Target Audience/ Target Market

The target market for jewellery can be broadly defined as anyone who appreciates and is
willing to pay for our quality craftsmanship. Our jewelry customers are primarily
differentiated by attitude, rather than age or income. In other words, the most
important factor in determining when and where a person will buy is his or her feelings
about the product that they want to purchase. We will sell our products within the
Valenzuela City area of Paso de Blas. Given how interested people nowadays are in
jewelry, this location will be terrific for selling jewelry. Some Jewellery pieces have a
sentimental value much higher than its monetary value. Moreover its sentimental value
can increase as it’s handed down to future generations. Also, Jewellery is the best way to
put out your own style on a dress or any outfit. Just simply put on jewellery to create
your own signature. In addition, Jewellery is an essential accessory for any woman or
men, as without it women or men would feel dull and under-dressed. While attending
special occasions like weddings, parties, ceremonies, jewellery becomes a necessity.

The target market is chosen because Celestial Jewelries believes these individuals are
the most likely to purchase its products or services. By conducting thorough market
research, businesses can identify these key groups and tailor their marketing strategies
accordingly. This approach allows for more effective communication and engagement
with the desired audience, enhancing the chances of successful marketing outcomes and
achieving the company's objectives. Understanding and effectively targeting the right
market segment is crucial for any business looking to optimize its marketing efforts and
ensure a higher return on investment.
 IV. Competitive Analysis

Conducting a SWOT analysis is essential for our jewelry business to comprehensively

evaluate our current standing and strategize effectively for the future. Our distinctive
and superior jewelry products set us apart from the competition and draw in selective
clients. Furthermore, aggressive pricing combined with a variety of marketing avenues
guarantees that we can draw in a broad client and extend our market share. In addition,
our prime location with first-rate transportation links makes us even more accessible,
giving our customers a flawless shopping experience.

Nevertheless, we also have shortcomings that make it difficult for us to properly

customize our offers, such as our poor understanding of consumer behavior and local
market preferences.
Furthermore, intense competition from well-established companies, a lack of funding,
and the issue of locating trustworthy suppliers pose serious obstacles to our expansion
and stability.

In spite of these obstacles, there are plenty of chances for us to take advantage of. There
is a great chance for growth and a larger market share due to the local market's
increasing demand for jewelry products. Moreover, we may set ourselves apart from the
competition and maintain our lead thanks to the possibility for product innovation,
customer trust and reputation building, and targeting particular client categories.

We also need to be on the lookout for possible risks including fierce competition, a lack
of raw resources, unstable economies that undermine investor confidence, and high
barriers to entry in the market. By identifying and addressing these threats proactively,
we can mitigate risks and position ourselves for long-term success in the dynamic
jewelry market.

V. Value Proposition

Our jewelry pieces are beautifully crafted with attention to detail and made from high-
quality materials. They’re designed to add a touch of elegance to any outfit, whether it’s
for everyday wear or a special occasion. We’re dedicated to providing top-notch quality
and making sure our customers are happy with their purchase, offering both stunning
jewelry and a great shopping experience.

VI. Promotional Mix

A specific platform for public relations and earned media outreach could be HARO. It’s a
platform where journalists and bloggers post requests for sources and experts to
contribute to their articles, giving individuals and organizations opportunities to be
featured in news stories and gain media coverage. Trade shows, a professional
networking platform that provides opportunities for personal selling through one-on-
one interactions, connecting with potential customers, and participating in industry-
specific groups and events. One specific platform for direct marketing is email marketing,
where personalized messages and promotions are sent directly to individuals’ email
addresses. In our jewelry product, our sale promotion will be the Lazada as one sales
promotion commonly seen which is the “Flash Sale.” During Flash Sales, certain products
are offered at significantly discounted prices for a limited time, typically lasting only a
few hours. This creates a sense of urgency among customers, encouraging them to make
purchases quickly to take advantage of the discounted prices before they expire. Flash
Sales are prominently featured on the Lazada platform, drawing attention to the
discounted items and driving sales during specific time frames.

The advertisement for our jewelry product is Facebook Ads, it can benefit out business
in several ways. They offer precise targeting, allowing businesses to reach their desired
audience based on demographics, interests, and behaviors. This targeted approach
increases the likelihood of reaching potential customers. Secondly, Facebook Ads
provide a cost-effective advertising solution. Businesses can set their budget and bid
strategy, ensuring efficient use of resources. This flexibility makes it suitable for both
small and large businesses. Moreover, the platform provides valuable analytics and
insights, allowing businesses to track the performance of their ads. This data helps in
refining strategies, optimizing campaigns, and maximizing return on investment. Lastly,
the social nature of Facebook allows for engagement with the audience through likes,
comments, and shares, fostering a sense of community around the brand. This
interaction can contribute to building brand awareness and loyalty. In summary,
Facebook Ads offer targeted reach, cost-effectiveness, analytics, and social engagement,
making them a powerful tool for businesses to promote their products or services.
 VII. Budget

Starting a jewelry business can be a profitable and exciting venture, but it also requires a
significant amount of investment. The cost of starting a jewelry business can vary
depending on various factors such as the type of jewelry you plan to sell, the location of
your business, and the scale of the operation. In this budget plan, we will take a detailed
look at the costs involved in starting a jewelry business.

Business Plan:(₱0—₱55,800)
-Before starting a jewelry business, it is essential to create a business plan. A business
plan outlines the goals and strategies for your business and helps you determine the
cost of starting and running the business. The cost of creating a business plan can range
from ₱0 if we create it ourself to ₱55, 800 if we hire a professional to write one for you.

Legal and Licensing Fees:( ₱27,900—₱111, 600)

-We will need to obtain the necessary licenses and permits to operate a jewelry business
legally. The cost of obtaining these permits can vary depending on your location and the
type of jewelry you plan to sell. Additionally, we will need to register our business with
the appropriate authorities, and this can cost between ₱27,900 and ₱111, 600.

Inventory: ₱279,000—₱1,000,000
-One of the most significant costs of starting a jewelry business is the cost of inventory.
The amount we will need to spend on inventory will depend on the type of jewelry we
plan to sell and the scale of our operation. If we plan to sell high-end jewelry, we will
need to invest a significant amount of money in inventory. On the other hand, if we plan
to sell handmade or custom jewelry,our inventory costs may be lower.

Equipment and Supplies: ₱55,800 — ₱558, 000

-To create and display our jewelry, we will need to purchase equipment and supplies
such as display cases, jewelry tools, packaging materials, and cleaning supplies. The cost
of equipment and supplies can range from ₱55,800 to ₱558, 000 depending on the scale
of our operation.

Marketing and Advertising: ₱27,900—₱279,000

-To attract customers to our business, we will need to invest in marketing and
advertising. This can include creating a website, social media marketing, and paid
advertising. The cost of marketing and advertising can range from ₱27,900 to ₱279,000.

Rent and Utilities: ₱55,800—₱558,000

-The cost of rent and utilities will depend on the location and size of our business. If we
plan to operate from a brick-and-mortar store,we will need to factor in rent, utilities, and
other expenses such as insurance and maintenance costs. The cost of rent and utilities
can range from ₱55,800 to ₱558,000.

Employee Salaries: ₱0 — ₱279,000 per month

-If we plan to hire employees to help us run our business, we will need to factor in their
salaries. The cost of employee salaries can vary depending on the number of employees
we hire and their level of expertise. The cost of employee salaries can range from ₱0 if
we plan to operate the business by ourself to ₱279,000 per month if we hire multiple
employees.

Overall, the cost of starting a jewelry business can range from ₱446,400 to ₱1,000,000
or more, depending on the factors outlined above. It is essential to create a detailed
business plan and budget to ensure that we have enough capital to start and run our
business successfully. With the right planning and execution, a jewelry business can be a
profitable and fulfilling venture.
 VIII. Activities and Messaging

Strategic planning in the jewelry industry is vital for businesses to navigate the
competitive landscape effectively and achieve their objectives. Through activities like
market research, businesses gain valuable insights into industry trends, consumer
preferences, and competition analysis. This knowledge enables them to segment their
target audience based on factors like age, gender, income level, and shopping habits,
allowing for personalized messaging and offerings. Crafting messaging that highlights the
uniqueness and emotional value of their jewelry pieces, while maintaining brand
consistency across various channels, helps businesses differentiate themselves and build
strong connections with their audience. By strategically selecting channels, allocating
resources wisely, and continuously measuring and optimizing their efforts based on ROI
and customer feedback, jewelry businesses can create compelling marketing strategies
that drive brand awareness, sales growth, and expansion into new markets.

IX. Metrics

1. Sales (Metric)
- Total sales
- Sales growth
- Average order value
- Conversion rate (from leads to customers)
- Repeat purchase rate

2. Brand Awareness (Metric)

 - Website traffic
- Social media followers
- Brand mentions
- Search engine rankings

3. Customer Engagement (Metric)

- Email open rates
- Social media engagement (likes, comments, shares)
- Customer feedback and reviews
- Customer satisfaction scores

4. Marketing Effectiveness (Metric)

- Return on Investment (ROI) for marketing campaigns
- Cost per acquisition (CPA) for new customers
- Marketing qualified leads (MQLs) and sales qualified leads (SQLs)
- Marketing attribution (which channels are driving conversions)

5. Competitive (Metric)
- Market share
- Competitor mentions and sentiment analysis
- Pricing competitiveness analysis

6. Website and Digital Marketing (Metric)

- Website traffic sources
- Bounce rate (percentage of visitors who leave the site without interacting)
- Click-through rate (CTR) for online ads
- Conversion rate for website visitors

1. Objective: Sell more Celestial Jewelry (Vintage collection) in six months.

Strategy: Make the jewelry more popular and appealing.
Tactic: Advertise on social media to show off the unique collection.
Tactic: Work with fashion influencers to promote the collection.

2. Objective: Get more loyal customers for Celestial Jewelry.

Strategy: Keep customers happy and engaged.
Tactic: Start a loyalty program with discounts and rewards.
Tactic: Listen to customers and improve products based on their feedback.
3. Objective: Make more people aware of Celestial Jewelry.
Strategy: Advertise more online to reach more people.
Tactic: Advertise on websites that jewelry lovers visit.
Tactic:Use SEO to show up higher in online searches.

4. Objective: Make online shopping easier for Celestial Jewelry customers.

Strategy: Make the website better so more people buy.
Tactic:Update the website to show the Vintage collection better.
Tactic: Make it easier to buy things online.

5. Objective: Stay competitive in the jewelry market.

Strategy: Keep an eye on what others are doing.
Tactic: Check prices often to make sure they're competitive.
Tactic: Release special collections to get people excited.

6. Objective: Make marketing for Celestial Jewelry better and get more return on
investment (ROI).
Strategy: Study what works and what doesn't in marketing.
Tactic:Keep track of how well different ads do and change things if needed.

Tactic: Use what you know about customers to make ads that they like.