Pandora developed its markets from a single store in Copenhagen, Denmark, into the world’s largest international jewellery brand, with more than 2,400 retail stores around the globe. Having established a manufacturing base in Thailand, Per and Winnie Enevoldsen – who founded the firm – concentrated on building their business through wholesale jewellery markets. On the supply side, they focused on manufacturing products and introduced the Pandora charm bracelet into Denmark, where it was a great success, and then moved on to Germany, Austria and the US. The innovativeness of the product, positioned at affordable prices, enabled Pandora to develop these markets quickly. More factories were opened in Thailand, and a vertically integrated system – inhouse designers, the firm’s own factories and retail stores and franchises – was used to service the increased demand. The manufacturing resources and capabilities facilitate agile manufacturing, so enabling rapid response to changes in market demands and capacity to capitalize on new opportunities. On the demand side, much attention has been given to the customer journey and ensuring this is a seamless experience across multiple channels (in-store, online and mobile) and communication platforms (broadcast, print, web, social media). 

The firm continued to use its products to reinforce the brand’s market position. Its ‘Wherever life takes you, take it with you’ campaign aimed to encourage loyalty from existing customers, who were targeted to build up their collection of Pandora products as keepsakes of the special moments in their lives. 

The firm’s mission is ‘to inspire every woman to feel creative in her self-expression’, which ties in to the future vision, which is to be the branded manufacturer that delivers the most personal jewellery experience. 

The strategic marketing plan involves continuing to position the brand as affordable, innovative jewellery. New products are continually added in the form of charms, bracelets and necklaces, but Pandora aims to develop the product portfolio beyond bracelets and charms into rings, earrings and necklaces by adding culturally relevant and seasonal ranges.

Questions: 

1. Draw up a SWOT analysis for Pandora. 

2. Suggest what Pandora should do in order to create a fit between strengths and opportunities, and to reduce any vulnerabilities (weaknesses and threats). 

3. Propose marketing objectives for products and markets that might enable Pandora to achieve its strategic aim of delivering the most personal jewellery experience.  

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