1. Business to Business Target Market

Abu Dhabi is the capital of the United Arab Emirates with a population of over 600,000 persons. It benefits a lot from the large petroleum oil deposits in the UAE, owning over 90% of UAE’s oil deposits and about 6% of petroleum gas. Therefore, Abu Dhabi is among the cities that have the largest GDP in the world. Being both the capital and a resource centre in the UAE, it has benefitted many people as the high income has elevated the social economic status of the people and UAE at large. This has seen a lot of foreign and domestic investment as many businesses are settling there to have a share of the fortune. As the government expands its plan to diversify its wealth sources, the city has had a significant share, attracting over a remarkable $1 trillion investment from all over the world. Among the large corporations that have set up in the city is the Etihad airways whose headquarters are in Abu Dhabi.

The luxury corporate or business to business market in the city has grown over the years, as the city dwellers and industry workers search for comfort. In 2010, it was reported that the city GDP per capita reached over $49,000, which translated to ninth globally. With such a high GDP per capita, the growth of corporate market has been inevitable. This paper will provide an assessment strategy on the growth of this important market and the avenues that could be used to get the correct investments and interactions between corporate firms.

CASE STUDY: AL MANARA INTERNATIONAL JEWELERS CORPORATE MARKET

The growth of the VIP market has been highly benefitial to luxurius businesses. Al manara Internatinal Jewelllers was formed after the merger of Ahmed Seddiqi & Sons, HAMG in 2012. Their main trading item was watches and jewelry to luxurious clients. United Arab Emirates ranks among the leading market for luxurious watches. A leading watch manufacturing company in Switzerland reported this in 2011. Therefore, it is important to examine the state of business in the region with regard to business to business dealings. In this case, Al Manara will be the key corporate organization that imports and distributes to the rest of other businesses in Abu Dhabi. Being a leading destination of luxurious watches and jewelry, it is important to determine the way business is carried out and how it could be improved in the end.

The Assessment Strategy

ASSESSMENT STRATEGY

TARGET GROUP

All luxurious watch and jewellery shops in Abu Dhabi. Also, hotels, such as Emirates Palace Hotel, and other tourist destinations would be used for assessment. The reference corporate organisation would be Al Manara International Jewelers.

UNIT STANDARD TITLE

List all the unit standards

NUMBER

LEVEL

CREDITS

ENTRY LEVEL REQUIREMENTS

All the businesses in the assessment must be located in luxurious locations or locations that are shopped by the above average people.

PURPOSE OF ASSESSMENT

This assessment is very important because it provides investors with information with regard to the organisations and corporate organisations that they should target with their sales. It would be insensible to locate luxurious watches in a small street that sells goods that are only for the average class in the coity. Therefore, it would be important that the investors determine the businesses that they would work with in order to distribute the imported watches and jewellery to the intended people.

At the same time, Al Manara would be able to easily determine real customers and not just any business to partner with. For instance, the formation of the firm was as a result of a merger of two firms that dealt with a near-similar line of goods. If not through merger, the firm can partner with other businesses in order to improve their businesses in a symbiotic relationships. The assessment would help in marketing and sales strategies. For instance, it would not make

ASSESSMENT APPROACH

The assessment would be carried out in the form of a research. This research would constitute both quantitative and qualitative methods. The qualitative part would include the requirements of most target businesses identified in the earlier stages. The approach, geared to determione the businesses that Al Manara would work with, would be carried out through the examination of available data as well as interviewing the managers of potentilally identified businesses.

CONTEXT OF ASSESSMENT

ASSESSMENT CONDITIONS

The assessment will be carried out only on firms/ businesses that target the people who can afford luxurious lives.

SPECIAL ASSESSMENT NEEDS OR ORGANISATION SPECIFIC REQUIREMENTS

Should be retail businesses

The businesses should have a structure that targets the high class in Abu Dhabi

The business should not have had any major scandals in the past

RESOURCES

Manpower- Data collectors, data analysts, process managers,

Money to carry out all the assessment activities

Time to carry out the assessment

ROLE-PLAYERS

Assessor

The assessment team that will move from business to business collecting information

Candidate

Business managers, hotel managers and owners, mall operators- these people will be expected to provide valuable information with regard to the state of businesses in the city

Moderators

This is comprised of a team of individuals who are expected to look through the information collected and provide Al Manara with recommendations

QUALITY ASSURANCE

Spot checks will be done after the completion of the research to determine the correctness of the information collected.

APPEALS PROCEDURES

If the data collected is found to be untrue as per the quality assurance phase above, a new whole process would be developed and used to collect the right information .

2. Market segmentation

Market segmentation will be done following the following criteria

i)                    Demographic Characteristics- this will involve grouping the target customers on the basis of their revenues and the number of employees within the corporation.

ii)                   Segmentation Using Customer Type- This will be done through a broader look at the different industries, thus different requirement.

iii)                 Customer-based segmentation- This will involve the division of the business-to-business market into homogeneous groups on the basis of the product specification of the buyers.

3. Luxury products trends bought for corporate gifting

First, a definition of these luxury products that would inerest a corporate firm will be made. After this, the firms that would be interested would be visited to determine whether there would be any interest from them. Following the segmantation described above,  the different target groups would themn be reached for at the corporate level. In this case, fims that deal with luxry goods or servces wouyld be mre involved than those that provide essential products such as water and basic foods.

The following was detemined by the end of the assessment

a) Products and commercial conditions

It was determined that jewellery was a boming business in Abu Dhabi. There are many organizations that are setting up and providing the products. These are competitors and strategies to ensure that Al Manari remains better should be developed. This could be done through rigorous marketing through advertisement and provision of exemplary products that will be of high quality and class. The retailers would therefore not have a hard time explaining to the customers about the products as they will have had prior information through media.

b) Pricing and bidding strategy

Pricing of the products would be done through the use location, thus rent, target market and the business requirements in the particular location. Further, the number of units purchased would be a vital tool to determine the price.

c) Logistics, delivery and customer service

Delivery will be done as per the number of units purchased. In this case, internet orders copuld be placed and deliveries made.

d) B2B marketing tools and resources

The tools that would be used in the B2B strategy would bemarketing campaigns by the recipient business, sales evaluator, website performances, expansion options and the effectiveness of the marketing strategies in place.

SECTION B: VIP market segment.

There is need to determine the people who run the economy with regar dto their income. The inceased number of invstors in the abu Dhabi city has resulted into the emergence of a high class of people refered to as the VIPs. These are  highly spending people who would not mind the amonut that they spend, but the quality of their satsfaction they get from the goods and services that they receive. It is therefore important to examine the trends of the spending of these people as well as the ualiuty of goods and services that they desire.

In this section, the assessment will be carried out on individuials based on their income. The assessment process would be carried out with a clear-cut distiction of the VIPs in AbuDhabi. In 2012, the GDP per capita of the city was about $49, 000. The targeted people in this case would only be those with n income of over double the average. This assessment will therefore target the highly ranked goverenmet officials, firm owners and investors, corporation top managers, highly spending holiday makers among others from this class of people.

These are the people who can afford any lifestyle in the city or whose expenses are covered by the institutions that they work for, or government. These people would be segmented through the places that they attend during their shopping, hotels, entertainment places, living estates, car models as well as their service provision firms. The assessment would be done through the involvement of the service providers as well as the firms that provide these people with goods. It would also involve them directly as their data would be collected as well as the spending trends well determined. This segment would require a lot of professionalism since they are well above the rest of the people in terms of living standards and the amount they spend.

The emergence of the many VIPs in Abu Dhabi has resulted into a new trend of a new market that specializes and targets the VIPs. High prices in areas that are believed to be owned or resided by this class of people as well as high prices of goods and services that they purchase.

CASE STUDY: AL MANARA INTERNATIONAL JEWELERS VIP MARKET

The organization imports luxurious watches and other jewelries and distributes them in the retail points for the VIP customers to have access to them. The strategy to reach out to the people would be important because there are many people who might not get the information, especially the new people or tourists. The following assessment strategy would therefore be beneficial to the relationship between the firm and the individual VIP customers if adopted.

VIP marketing tools and resources

ASSESSMENT STRATEGY

TARGET GROUP

There are many people from all over the world in Abu Dhabi. Teachers, mine workers, business people, architects, government workers/ state employees, 

UNIT STANDARD TITLE

List all the unit standards

NUMBER

LEVEL

CREDITS

ENTRY LEVEL REQUIREMENTS

At least in a senior position, with a high salary at least 1.5 times the GDP per capita in the city

PURPOSE OF ASSESSMENT

This assessment is very important because it provides investors with information with regard to the people and the demographics of the city. It ensures that the planners are able to deliver what is demanded by the population. The corporate market is important because with over $1 trillion being invested from all over the world, there is need to ensure that the multi-ethnic and multi racial composition of the people in Abu Dhabi is well taken care of. This would mean that there would be less chances that the corporate in the region would lack some of their essentials, both to carry out their business and to ensure that their employees are satisfied. Further, the assessment would help in pricing strategy due to the internal factors and regulations that must adhere to the city regulations.

ASSESSMENT APPROACH

The assessment would be carried out in the form of a research. This research would constitute both quantitative and qualitative methods. The qualitative part would include the requirements of most industries as well as a determination of the different services and business corporate that are situated in Abu Dhabi. This would be done by the use of open-ended questionnaires.

The quantitative part will include the determination the per capita income and the different ways that corporate wish to spend their money, whether on their daily activities or in their employee satisfaction.  The whole process will therefore be a summative or final assessment.

CONTEXT OF ASSESSMENT

ASSESSMENT CONDITIONS

The assessment will be carried out in different offices and firms that would be involved. The remunerations will be sought and a determination on whether the employees can afford the products will be determined.

SPECIAL ASSESSMENT NEEDS OR ORGANISATION SPECIFIC REQUIREMENTS

The employees/ target people will have to be aware of Al Manara, being a major VIP  jewellery retailer.

RESOURCES

Manpower - Data collectors, data analysts, process managers,

Money to carry out all these activities

Time to carry out the assessment

ROLE-PLAYERS

Assessor

The people who will be collecting information

Candidate

VIPs and holiday makers who will provide information on their spending on jewellery

Moderators

The team that will proof check the information and come up with conclusions

By the end of the assessment, the following recommendations were made from the process

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