HIRO GLOBAL business plan

In addition to diamond trade, the firm intends to invest in the creation of lapping factories, jewelry stores, training of appraisers and jewelers. The United Emirates Arabs mineral sector is rapidly expanding at the rate of 9% and offers a growing opportunity for the United States Companies (Brinckmann). In the global context, the United Arabs Emirates shield is equivalent in size to the Canadian Shield, roughly a third of Saudi Arabia. United Arab Emirates landscape consists of majorly on outcrops, wherein rocks are exposed near the surface The recent significant changes in Saudi Arabia’s mining law have created opportunities for the United Arab Emirate mineral sector as an alternative source. It has open greater access for foreign companies looking to invest in the United Arabs Emirates mining sector.

They offer a friendly and safe way to purchase a fantastic duty-free diamond, pearl jewelry, and gemstone (Adler, pp. The customers provide the product through email which delivered in an appropriate time. The nature of the alliance between the HIRO GLOBAL and Dubai Diamond Company purely base on the diamond trade. Dubai Diamond Company assists the HIRO GLOBAL to sale the diamond product locally and abroad which as a results helps in the market segmentation. Dubai Diamond Exchange located in Almas Tower. Vendors One of the HIRO GLOBAL vendors is Gold Souk of Dubai. It is a favorite vendor offering a variety of the gold shop in the heart of Dubai old commercial district Deira. It has several outlet stores both giant and well established and the small shop.

The vendor offers the HIRO GLOBAL diamond product at competitive prices (Agrawal). The second vendor is Diamond Park and Dubai Gold. The employees will range from experience to inexperienced as firm intents to increase the number of the account executives, Bench Jeweler, head of diamond, regional managers, sales associates, sales manager, store managers, director of the store, inventory manager, Marketing manager. Market Analysis Summary The firm intends to use four types of oldest marketing strategies to divides the market. The customer’s population and preferences become much common in use and the competition option available; the market division becomes significant in the HIRO GLOBAL business plan. The firm has launched its operation focusing on the market segmentation. The firm classifies their customers’ needs using three ways, known needs, what clients want, and the demands of the clients.

The implementation of the demographic is useful to the firm in various ways, such as the luxury brands like diamond and jewelry may target income of >$200 while the college target, the company may use the digital marketing strategies to use. It is useful when aiming the multiple market division at ago. The company can run an email marketing campaign targeting the locals and the international base on the age gender and household income. The method is also efficient in business to business market in a company like HIRO GLOBAL which contains sizes, role, industry, time working for the company. The firm may choose a segment to market itself when searching for prospective consumers. It is the most accessible model of market segmentation to implement.

Psychographic segmentation It deals with the people’s lifestyle, activities, interests as well as the opinion that determines the market. It is similar to the behavioral segmentation except for the facts that it deals with the aspects of the psychology of consumer behaviors of buying. The psychological elements are generally the client's lifestyle his social standing (Grossman 393). The jewelry itself is a lifestyle. The company which focuses on sales and exploration of diamonds, will focus on advertisement through internet platforms and media to increase its geographic market segments. Since social media and internet can reach a wide market base and consumers, it is believed to be one of the best marketing methods that will be used by the company to increase its geographical and physiographic segments.

Moreover, the company will also focus in introducing its brand in other international countries in the UK, USA and Middle East. This will also actively participate in acknowledgment of its brand in an international level. The organization will also conduct a good market research on its available and anticipated markets whereby it will focus on getting a direct market segmentation with a high expectation of sales. it also looks forward to increase distribution in the world by creating more stores and product outlets in different geographical markets. Its brand will therefore be spread in a large portion of the international market. The company will moreover use the following distribution channels for its products: Competitors The level of competition on sales and retail of diamonds has increased over the past years as there are many companies which use a lot of technology to explore and sell diamond across the world.

Some of the major company competitors include Blue Nile, and diamonds. com. There are many countries which are put in place for market entry for the company which is ready to accept the organization that is focused on capturing a more significant portion of the market. Moreover, the organization has a good number of supply chains which is innovative and robust. The supply chain will be responsible for the consistent movement of the products in the market until they reach the consumers. Promotion strategy Since promotion is a crucial market aspect which must be incorporated by an organization to experience an increase in sales and market share, the HIRO Company will come up with different promotion strategies such as an advertisement.

The advertisement will be incorporated and implemented through the use of social media platforms such as Facebook and Twitter. The directors are the head of operation units — the United includes, the Diamond suppliers, and sales and marketing, inventory and records keeping, production. The directors are responsible for day to day operation of the firms and reports back to CEO. The directors are responsible for recruiting the staff base on the chances available and the staff experts. When prospects available the directors with the consultation with CEO required the suitable customers. Financial Plan The section describes foundations used to design a price forecasting in the HIRO GLOBAL. The company projects size comprises of marketing, the exploration, supplier and sales department. The financial focus based on market research.

It based on discussion with the potential current customers regarding the needs and service. The firm must acquire information and analyzed systematically to minimize biases as a result of the data assets and consistency — inconsistent customer questioning, data excessive summary, time-consuming method of research. Knowledgeable personnel opinion, the most significant knowledge forecasted the senior management team and the driving force in the industry. Variable expenses directly compared to sale volume. It implies that if sales volume grew. The charges involve also increasing. Such costs include commission on the sale, credit commissions, freight and shipping, cost of goods sold. The variable expenses calculated through the previous year’s losses. Also, necklaces and bracelets coated with diamond have announced on Valentine’s Day at reduced prices.

Market research data shows that weddings are most common in September and October. Therefore, the peak season for wedding rings is expected to be during the final part of the year. Most clients are expected to inquire if custom designs made. Other clients also request for resizing and polishing off their wedding bands. Industry news from the diamond industry indicates that the demand for diamonds will increase from 2018 and beyond. This fact spells good news for the company because they can make better adjustments. News also indicate that clients have also become more adventurous in the designs they want for their engagement rings. This statement signifies that the company should become more creative so that they can get better market share and customer satisfaction.

Efforts to sustain the environment have also become rife in the industry to align the industry with the global environment conservation efforts. Mining-based interactive management of text databases. In C. Zaniolo, P. Lockemann, M. Scholl, & T. edition. Grossman, S. J. & Stiglitz, J. E. 1, Jewellery & Gemplex 3 Dubai, United Arab Emirates Telephone: Mobile Fax: Email: Current residential address: 70B SPATA STREET, HIGHVELD TSHWANE South Africa 0157 Telephone: Mobile +27738475552 Fax: Email: mcdmpedro@gmail. com What is your preferred means of communication in relation to this KYC Form? Email Telephone SECTION B: BUSINESS EXPERIENCE (Repeat this section for adding experiences) How many years of business experience do you have? Business Experience #: 01 22/03/2017 17/12/2018 Company Name: Address: Country: Telephone: Fax: Email: Website: www. Business role: Employee Business Owner Job Title: Nature of Business: Trading Manufacturing Service Other_______________________ Type of Business: Business Experience #: 02 22/03/2017 17/12/2018 Company Name: Dubai Diamond Company Address: TeJORI Souk Shop 99& 97-98, Jumeria Road, Dubai Country: Dubai Telephone: +971 4 208 0808 Fax: Email: website: https://www.