Assignment 1: Preliminary Product Screening Report

PRELIMINARY reaping viewing REPORT OPAL JEWELRY 16/08/2012 Assignment genius. executive director SUMMARY Gems and jewellery play a profound role in Australian customs and traditions, devising this sector integral to the economy and one of the instantaneous growing industries in the country. Precious opal ranks with diamond, as one of the or so expensive of gems tangs. Opal jewellery arsehole lose a big variation on their apprises, opals materials to discharge those jewelries stinkpot st guile at AUD$1. 00 per carat and go to AUD$20,000. 00 per carat. obscure from Australia and Slovakia the only new(prenominal) countries with a authoritative harvest-timeion of opal jewellery wear been Mexico and Brazil.Australian opal jewellery bottom of the inning be a sound long-term expendment, with apprize appreciation arise yearly. Weakness Australia does not invest in oversea securities patienceing for jewellery, if the country st ruseed spend on that, opportunitie s would came, building up the opal market place afield Australians buzz off the opals as old-fashioned jewelry they should be re-educated approximately that. Compliance understanding property (IP) is an intrinsic tool to protect your ideas and the gain you generate as a pictureer in the fashion industry.Its similarly one of the requisite building blocks of Australias economy, because it helps foster creativity and reenforcement pattern. TABLE OF content Executive summary . Page 2 penetration Page 4 Research Findings Page 5 Analysis and Conclusions Page 12 Opal types Page 13 INTRODUCTION Since the last century, Australia has been the prime producer of gem opal in the world. Now a day, Australia exports over 90 per cent of natural opal, making a probative contri exactlyion to Australias economy.The infinite variety of food color and mannikin makes opal a real special rock candy. Opal is unique in that the stone changes color when it is pited back and forth or w hen it moves on the neck so mounting it in Australian opal jewelry intros the rock in the very best setting. The task for this assignment 1 in certificate IV international trade was to set out preliminary screening of an Australian mathematical ingathering. The task was to occupy and research an Australian product do in Australia from mostly Australian re starts that we wish to market internation wholey.Once the product was selected we were thusly asked to perform a research exploitation primary and secondary resources for our research. To be Included in this research ar vital pieces of information such(prenominal) as bell, product, promotion and place, consumers of the product, competitors in the industry and the product cycle of our product. Through this preliminary research we testament be able to gain an idea of whether or not exporting our chosen product testament be a successful venture or whether there go a agency be risks involved. The Australian product I cont rol chosen is Opal Jewelry. RESEARCH FINDINGSPRODUCT DESCRIPTION There ar much then 19 mines situated all over Australia. forward- impressioning south Wales, for example, is famous for your colour opals. This state has the thumpingst correspondence of Australian Opals in term of value. There we slew let on two mines Lightning Ridge and White Cliffs. Queensland produces boulder Opal, which is a unique type of opal and is found given over to a host rock, ironstone. Only Queensland bedevil the bowlder opal, and is found in deposits in weatheredaqueous Cretaceous rocks in the west of the state. This state support four mines, which argon Quilpe, Winton, Opalton and Yoah.South Australia has four active opal archeological site fields, Andamooka, Coober Pedy, Lambina and Mintabie. South Australia is intumescentst producer of opal in terms of volume, and produces the uncontaminating opal, crystal opal or milky type of opal. Source http//www. costellos. com. au/opals/types. ht ml This research is base in a business operated in Queensland, having as a master(prenominal) product Boulder opal. Although, the company alike sells all types of opals jewelry, rings, pendants, earrings, beads, and watches. (BUSINESS LOGO. ) Source http//www. opalsd ownunder. com. au/Images source http//www. opalsdownunder. com. au/opal-pendants/ COSTUMERS elaborate The opal jewelry Is displayed in the full gamut of jewelry settings rings, earrings, pendants, brooches, bracelets, studs, cufflinks and some other type of jewelry to suit every part and budget. You brush off even thrust custom- do opal jewelry for your difference ring or for any other appropriate gift- better-looking occasion. Or maybe you just involve to spoil yourself. As the price of the jewelry made with opals varies greatly, consumers may too vary consort to the price of the product.There are jewelries made of opal, which are for tourists, with a dismount cost. Others, such as black opal, which has g reat value, are for high(prenominal)-class consumers, who admire and do not deliver notes to debauch a good jewelry. Source Laszlos opal and jewelry, 2001-2010, viewed 10 disdainful 2012, http//www. opal-jewelry. com/about. htm RETAIL education Opals are very common Jewelry in Australia. The ones made for tourists are usually sold in local markets, with a lower cost. But, 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 main(prenominal) currencies that may be interested to buy their products. all(a) the prices are showed in Australian dollars, with their currency alteration below the pictures to make it easier for the costumers to think how much does the jewelry costs in their own country. At the issue the product is only sold domestically at bottom Australi a in their store, Situated on the Bruce High carriage on sunshine coast.Also, this product it is predominantly sold online at its website http//www. opalsdownunder. com. au, here the customers can browse through the acquirable products on offer and place an online order. Once they be in possession of chosen, they can then add the product to their online pressure and proceed to pay. The payment method is Credit card or Debit MasterCard/ Visas, there is also the choice 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 renewing 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 inside information The color, size and type of odd opal are factors that teach the pri ce paid for the gemstone. Usually the price is based on the quality of the opal and expressed per carat. Furtherto a greater extent, there is a marked difference between the value of raspy 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 item-by-item(a) as the people who buy them. And a in the flesh(predicate) taste and preference can also simulate the price this product. Another issue is that the different modify 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 parley about Opal values is the Opal tone it refers to the background or the underlying color of the opal, which clutchs from black through unfairness to light.Generally opals with a black or dark body tone are to a greater extent valuable than those with a face cloth, light, o r crystal body tone, because a stone with a darker body tone tends to display colors more vibrantly. Black opals are the most prized opal and may transact 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 substantial production of opal jewelry have been Mexico and Brazil. There are a few other countries, which have miserable occurrences of precious opal, usually from volcanic rocks, but these have met with little commercial success. Another very valuable stone and well regarded by consumers, the diamond, is also seen as a competitor. Although, diamonds do not have the ran ge 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. truly different to to the diamond industry, there is no monopoly in the world marketing of opal and true market forces of tack on and demand determine price. Another difference is that, opals have a wide range of values, which can carry through 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 set ashore 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 princely 2012, http//web. ebscohost. com/ehost/pdfviewer/pdfviewer? sid=c49106d4-941d-433b-9f22-8f7280b7d19b%40sessionmgr104vid=14hid=125 PRODUCT carriage CYCLE Australian opal can be a sound long-term investment, with value appreciation climbing yearly. Australian fields are slowly foot race down, so the values on quality gems willing 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 falling victim to the states mining boom. ABSTRACT FROM PUBLISHER, viewed in 10 august 2012, http//web. ebscohost. com/ehost/detail? vid=3hid=125sid=bd0f4262-c765-4e52-b405-3b86c70d60ac%40sessionmgr112bdata=JkF1dGhUeXBlPWNvb2tpZSxpcCx1cmwsY3BpZCZjdXN0aWQ9czEyNDE5NzEmc2l0ZT1laG9zdC1saXZldb=anhAN=201206091017391615 progress Nationally, this company uses newspaper, magazines and sales to elevate 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 produ ct, and giving the costumers an probability to have a look on their websites source http//saltmagazine. com. au/articles/web-exclusives/pepper-march-spa-restaurants-events. aspx WEAKNESS OF THE PRODUCT hitherto with so many 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 off would be through aggressive strategies of marketing. Australia spends almost to nada 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 said that Many Australians 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 bonny to look at as opposed to a poor diamond, which is nothing flash or colorful as the opals. Source The Gemmological Association of Australia (GAA), C 2012, viewed 10 fearful 2012, www. gem. rg. au . COMPLIANCE WITH THE LAW About IP Australia IP Australia is the Australian Government agency trusty 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 supporting Australias economic development. 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 ess ential building blocks of Australias economy, because it helps foster creativity and reward innovation.Australias IP laws provide a levelheaded framework to protect your innovative and creative ideas and designs. lawfully enforceable IP rights encourage technological innovation and artistic expression in industries, such as fashion and design, and help to build and expand businesses, urinate new jobs and stimulate the sector both in Australia and overseas. Source http//www. ipfashionrules. gov. au/ Conclusion 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 some(prenominal) hundred individual miners, making the jewelry market develop, and have a huge quantity of competitors. Historically, the move development of the industry has relied upon chance discovery. Other than putt more funds into marketing Australian opal jewelry, I believe that display s tores around the world, representing Australian opal jewelry as a product rather than individual jewelry businesses would be a start in the global promotion of Australian opal jewelry.With this promotion comminuted quality of jewelry as artistic knowing 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 memento 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 now is ready to export this amazing art and show the world not just the steady of the rings, watches, pendants, but a little bit of his tillage as well. Australian opals jewelry has the best quality, design and also the biggest resources making opals jewelry an easier market to export. caseful of opals Boulder opal is also classified as comforting opal.It is a variety of precious opal that has the host rock forming naturally as part of the gem. This type of opal is practically cut with the ironstone left on the back, as the opal lots just a thin vein of precious opal is present. The opal forms at heart the cavities of the boulders in both vertical and horizontal cracks. Boulder opal can be found in many different shapes and sizes, from as small 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 ba r, giving the otherwise light opal a dark appearance. Even expensive black/dark opals may have only a very thin color bar. Light/Crystal OpalCrystal 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 a great deal 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