Pandora Jewelry in Australia
Consumers have been feeling pressure on the cost of living, which has raised a lot and the global economy uncertainty. They therefore tend to save their money other than spend leading to low sales of jewelry in the year 2012.
The macro environment consists of the inflation, gross domestic product trends, spending, inflation, fiscal policy, monetary policy and employment. This connects to the overall business cycle. These affect the performance of the sale of jewelry depending on how much the business depends on the health of the economy. When many people are earning in Australia, the sales of the jewelry tend to be more and vice versa. When there is unemployment, increase in external debt, less debt, Vat and government tax, the expenditure of the consumer is less leading to a low power of purchasing.
This is because many people will opt to save the little they have other than use it to buy the jewelry. This makes the sale of the jewelry be lower. However if these factors are well taken care of, the market for the Pandora jewelry could improve as the demand would be high (Aardalsbakke, 2011). Australia uses some steps in the process of targeting the market. One, is the segmentation where they identify small segments that are very likely to buy the jewelry and then target them and decide on the ones to go for according to their ability to buy the goods.
For example, highly earning people as well as the social class. Try to reach them with specially designed messages. Thirdly they design the goods in this case the Pandora jewelry so that it can meet the needs of the segment and then develop what is known as the marketing mix that will create competitive activity to the selected target minds (Bairstow, 2011).