Assignment 1: Preliminary Product Screening Report

PRELIMINARY crossroad SCREENING extend OPAL JEWELRY 16/08/2012 Assignment whizz. EXECUTIVE SUMMARY Gems and jewellery drama a signifi bathnistert role in Australian customs and traditions, inventing this sector integral to the economy and one of the fastest growing industries in the commonwealth. Precious opal ranks with diamond, as one of the most valuable of gem rock back enddys sprightlinesss. Opal jewellery dismiss seduce a big variation on their think ofs, opals materials to dedicate those jewelries puke start at AUD$1. 00 per cable carat and go to AUD$20,000. 00 per carat. a counsel from Australia and Slovakia the only a nonher(prenominal) countries with a signifi basint crosswayion of opal jewelry flummox been Mexico and Brazil.Australian opal jewelry finish be a secure long-term investment, with value appreciation lift yearly. Weakness Australia does non invest in e trulyplaceseas trade for jewelry, if the country started investing on that, opportun ities would came, building up the opal market a guinea pig Australians collect the opals as old-fashioned jewelry they should be re-educated about that. Compliance mental property (IP) is an essential tool to value your ideas and the work you generate as a designer in the fashion industry.Its to a fault one of the essential building blocks of Australias economy, because it helps nurse creativity and reward innovation. prorogue OF CONTENTS Executive summary . varlet 2 Introduction Page 4 Research Findings Page 5 Analysis and con gameclusions Page 12 Opal geeks Page 13 INTRODUCTION Since the last century, Australia has been the prime producer of gem opal in the populace. Now a day, Australia exports over 90 per cent of essential opal, devising a significant contri neverthelession to Australias economy.The infinite variety of people of colour and pattern makes opal a in truth special rock music. Opal is unique in that the stone changes color when it is rocked back and forth or when it moves on the neck so mounting it in Australian opal jewelry displays the rock in the very best setting. The working class for this assignment 1 in certificate IV international trade was to undertake preliminary screening of an Australian return. The task was to choose and explore an Australian product made in Australia from in the main Australian resources that we wish to market internationally.Once the product was selected we were then asked to perform a research using primary and secondary resources for our research. To be Included in this research argon vital pieces of information such(prenominal)(prenominal) as price, product, publicity and place, consumers of the product, competitors in the industry and the product cycle of our product. Through this preliminary research we allow for be able to gain an idea of whether or non exporting our chosen product get out be a roaring venture or whether there will be risks involved. The Australian product I keep chosen is Opal jewellery. RESEARCH FINDINGSPRODUCT DESCRIPTION on that point argon to a greater extent then 19 mines situated all over Australia. New south Wales, for usage, is famous for your pitch-black opals. This recite has the wide-rangingst proportion of Australian Opals in term of value. There we can comment two mines Lightning rooftree and White Cliffs. Queensland produces bowlder Opal, which is a unique example of opal and is found prone to a host rock, ironstone. Only Queensland claim the Boulder opal, and is found in deposits in weatheredsedimentary Cretaceous rocks in the west of the state. This state have four mines, which be Quilpe, Winton, Opalton and Yoah. sec Australia has four active opal mining fields, Andamooka, Coober Pedy, Lambina and Mintabie. southwest Australia is largest producer of opal in terms of volume, and produces the white opal, watch crystal opal or milky type of opal. Source http//www. costellos. com. au/opals/types. html This researc h is based in a business operated in Queensland, having as a main product Boulder opal. Although, the comp any(prenominal) also sells all types of opals jewelry, rings, pendants, earrings, beads, and watches. (BUSINESS LOGO. ) Source http//www. opalsd testifyunder. com. au/Images source http//www. opalsdownunder. com. au/opal-pendants/ COSTUMERS DETAILS The opal jewelry Is displayed in the full gamut of jewelry settings rings, earrings, pendants, brooches, bracelets, studs, cufflinks and a nonher(prenominal) type of jewelry to suit every occasion and budget. You can even have custom-made opal jewelry for your engagement ring or for any other appropriate gift- grown occasion. Or whitethornbe you just want to spoil yourself. As the price of the jewelry made with opals varies immensely, consumers may also vary fit in to the price of the product.There are jewelries made of opal, which are for tourists, with a lower cost. Others, such as black opal, which has great value, are for hig her-class consumers, who admire and do not save money to profane a good jewelry. Source Laszlos opal and jewelry, 2001-2010, viewed 10 august 2012, http//www. opal-jewelry. com/about. htm RETAIL INFORMATION Opals are very common Jewelry in Australia. The ones made for tourists are usually sell in local markets, with a lower cost. solely, we also find Opals in famous jewelry stores with a higher value.Web sites such as e-bay, or even jewelry websites made just to sell them. There are a huge variety of them, offering all forms of payment. On this company, for example the website shows some of the most important currencies that may be interested to buy their products. All the prices are showed in Australian dollars, with their cash conversion infra the pictures to make it easier for the costumers to think how much does the jewelry cost in their own country. At the moment the product is only sold domestically deep down Australia in their store, Situated on the Bruce Highway on sunsh ine coast.Also, this product it is predominantly sold online at its website http//www. opalsdownunder. com. au, here the customers can browse by ungenerouss of the available products on offer and place an online order. Once they have chosen, they can then add the product to their online hale and proceed to pay. The payment regularity is Credit Card or Debit MasterCard/ Visas, there is also the picking to pay by PayPal. On this company, for example, the website shows some of the most important currencies that may be interested to buy their products.All the prices are showed in Australian dollars, with their currency conversion below the pictures to make it easier for the costumers to think how much does the jewelry costs in their own country, followed by the payment methods. Source https//www. opalsdownunder. com. au/cart PRICE DETAILS The color, size and type of precious opal are factors that nail down the price paid for the gemstone. Usually the price is based on the case of the opal and expressed per carat. Furthermore, there is a marked variance between the value of uncut opal compared with the value of cut and polished opal.Like anything, marketing has a great impact on determining the value of a product. Opals are as unique and individual as the people who buy them. And a private taste and preference can also affect the price this product. another(prenominal) issue is that the different colors and patterns can appeal to different markets. Although, you can have material that can start at AUD$1. 00 per carat and go to AUD$20, 000. 00 per carat. One big influence when we talk about Opal values is the Opal tone it refers to the background or the underlying color of the opal, which ranges from black with dark to light.Generally opals with a black or dark body tone are more valuable than those with a white, light, or crystal body tone, because a stone with a darker body tone tends to display colors more vibrantly. blacken opals are the most prized o pal and may realize prices over AUD $15,000 a carat. Opal Jewelry can also vary between the products, one simple opal pendent for example, starts with AUD 136, 00, but an opal ring costs around AUD 230. 00. As was mentioned before, we can also find in the market more affordable opal jewelry, but usually, they are not made with gold, or silver or valuable materials.SOURCE http//www. opalsdownunder. com. au COMPETITORS Apart from Australia and Slovakia the only other countries with a significant production of opal jewelry have been Mexico and Brazil. There are a few other countries, which have piddling occurrences of precious opal, usually from volcanic rocks, but these have met with little moneymaking(prenominal) success. Another very valuable stone and well regarded by consumers, the diamond, is also seen as a competitor. Although, diamonds do not have the range of prices and types of productions that have opals.A top quality black opal can influence in the price, giving a higher price per carat than a good, clear one-carat diamond. rattling different to to the diamond industry, there is no monopoly in the world marketing of opal and true market forces of supply and demand determine price. Another difference is that, opals have a wide range of values, which can satisfy a greater number of consumers, becoming a popular stone. And that do not happen with Diamonds. Apart of those countries, and the diamond, other mines in Australia are the biggest competitor that Opals protrude Under have.With the websites facilities, the mines also sells the product for another countries, or domestically, for Australians. SOURCE mining and Gems Global Industry, 2008, viewed 10 august 2012, http//web. ebscohost. com/ehost/pdfviewer/pdfviewer? sid=c49106d4-941d-433b-9f22-8f7280b7d19b%40sessionmgr104vid=14hid=125 PRODUCT LIFE CYCLE Australian opal can be a sound long-term investment, with value appreciation climbing yearly. Australian fields are slowly running down, so the val ues on quality gems will regularly increase year by year.For the overseas investor, it is easier to buy at the source of supply and save money. COOBER Pedys colourful opal mining industry is move victim to the states mining boom. ABSTRACT FROM PUBLISHER, viewed in 10 august 2012, http//web. ebscohost. com/ehost/ dilate? vid=3hid=125sid=bd0f4262-c765-4e52-b405-3b86c70d60ac%40sessionmgr112bdata=JkF1dGhUeXBlPWNvb2tpZSxpcCx1cmwsY3BpZCZjdXN0aWQ9czEyNDE5NzEmc2l0ZT1laG9zdC1saXZldb=anhAN=201206091017391615 PROMOTION Nationally, this company uses refreshfulspaper, magazines and sales to embolden their sales.But also, a way that they use to promote is from Internet. Their website is a good way to promote their products and their store, but to promote their websites, coupons are also showed in on-line magazines, giving the costumers discounts of this product, and giving the costumers an opportunity to have a look on their websites source http//saltmagazine. com. au/articles/web-exclusives/p epper-march-spa-restaurants-events. aspx WEAKNESS OF THE PRODUCT heretofore with so some good things to talk about the market for jewelry opals, we also have to look at his weak side.One way Australian opal could further its electron orbit would be through aggressive strategies of marketing. Australia spends almost to nothing with the promotion of opal overseas or even with in his own country. For example, last year, a South African diamond mining company called De Beers, spent around AUS$150million in Japan marketing diamond engagement rings, as opposed to Australia which, in the same year, spent AUD$100,000. 00 in all the promotion of opal overseas. Australia could make more marketing campaigns about opals, and that would increase the demand.Another weaknesses of the market is that, according to opal retailer Con Retsas, if we educate Australians about opal that could be the first step towards telling the world about the gem and build up its global reach. He say that Many Aust ralians perceive opal jewelry as old fashioned, something that Grandma wore. But if you compare an opal to a diamond, even a lower grade opal can be really interesting and beautiful to look at as opposed to a poor diamond, which is nothing flash or dark as the opals. Source The Gemmological Association of Australia (GAA), C 2012, viewed 10 August 2012, www. gem. rg. au . COMPLIANCE WITH THE LAW About IP Australia IP Australia is the Australian disposal agency responsible for administering patent, design, trademark and plant breeders rights. By granting these rights, and contributing to the improvement of Australian and international IP systems, IP Australia is reenforcement Australias economic growth. Intellectual property (IP) is an essential tool to protect your ideas and the work you generate as a designer in the fashion industry. Its also one of the essential building blocks of Australias economy, because it helps foster creativity and reward innovation.Australias IP laws p rovide a good framework to protect your innovative and creative ideas and designs. Legally enforceable IP rights encourage technological innovation and artistic expression in industries, such as fashion and design, and help to build and expand businesses, create new jobs and stimulate the sector both in Australia and overseas. Source http//www. ipfashionrules. gov. au/ end point Today, the Australian opal jewelry industry is made up of a large number of individual companies generally working their own claims.A single opal field is explored and developed by several hundred individual miners, making the jewelry market develop, and have a huge quantity of competitors. Historically, the continued development of the industry has relied upon chance discovery. Other than putting more funds into marketing Australian opal jewelry, I believe that display stores around the world, representing Australian opal jewelry as a product rather than individual jewelry businesses would be a start in t he global promotion of Australian opal jewelry.With this promotion nice quality of jewelry as artistic designed pieces, could make the market reach the status it deserves. This industry is young, and Australia has much to do in order to promote the jewelry industry to its biggest potential. Yet, with industry perseverance, opal jewelry will be soon recognized by the world, for the art it is. Opal jewelry is a great gift, or souvenir that represents Australia, making this industry have a large number of types of consumers.To conclude, In my opinion, Australia has reached his national target with the opal jewelry market, and at a time is ready to export this amazing art and show the world not just the beauty of the rings, watches, pendants, but a little bit of his polish as well. Australian opals jewelry has the best quality, design and also the biggest resources making opals jewelry an easier market to export. Type of opals Boulder opal is also classified as solid opal.It is a vari ety of precious opal that has the host rock forming by nature as part of the gem. This type of opal is a great deal cut with the ironstone left on the back, as the opal often just a thin vein of precious opal is present. The opal forms within the cavities of the boulders in both vertical and horizontal cracks. Boulder opal can be found in many different shapes and sizes, from as piffling as a pea, to as big as a family car which can also be black or light depending on the appearance of the stone when viewed from the surface.Black/Dark Opal Black Opal is easily distinguished by the blackness of the background body tone or body color, which shows a play of color within or on a black/dark body tone, when viewed from the face up. The term black opal does not mean that the stone is completely black, some of them have a light crystal color bar, giving the otherwise light opal a dark appearance. Even expensive black/dark opals may have only a very thin color bar. Light/Crystal OpalCryst al Opal has a transparent, translucent, or semi-translucent body, which is also referred to as the diaphaneity of a stone. Crystal opals can display any color of the spectrum in a beautiful play of color because they are cut with a high cabochon. The translucence of a crystal opal often gives it clarity and vibrancy of color and may be transparent through to nearly opaque, although it usually has a light body tone or white body color. Source King opal, 2009, viewed 10 august 2012, http//www. kingopal. com. au/types-of-opal. php