Royal Selangor
The Royal Selangor Pewter: STP Strategy and Marketing Mix.
(Written by: Wong Eu Jun of DIA201204.)
Founded by a man named Yong Koon in 1885, Royal Selangor Pewter is a Malaysian pewter manufacturer-retailer which has since become the largest global brand leader in the line of pewter objects manufacturing and a prominent one in the metal craft industry. It is also recognized as a very highly celebrated Malaysian brand icon because of the success that it has gained throughout more than a century of existence. Looking at what Royal Selangor has done, it is needless to say that Royal Selangor has expanded its product range beyond mere pewter objects to a broader variety such as certain glassware and jewelry. Due to the fact that Royal Selangor made such a bold move by venturing into foreign shores, it cannot be denied that the company is bound to face a myriad of possible challenges if it were to carry on with what it is doing. In this case, having a well-planned STP strategy which allows the company to identify its intended market segment thus enabling the company to single out specific groups of buyers would be a very beneficial move. At the same time, it will also help Royal Selangor to set its target market and position its brands in which as we can see, it is already something that they have accomplished because Royal Selangor is a high-end luxury brand name in the minds of many and that the company makes pewter objects of the best quality. Therefore, on a personal level, I’d like share my insights on the STP strategy and marketing mix of Royal Selangor.
STP Strategy:
Royal Selangor has been able to divide and partition their market segment in a somewhat organized manner. From where I see this, Royal Selangor has catered to a couple of highly notable figures such as the likes of the former U.S President Bill Clinton, Hollywood actor Mel Gibson and lifestyle talk-show host Martha Stewart. Notable figures like celebrities and political icons are supposed to make
(Written by: Wong Eu Jun of DIA201204.)
Founded by a man named Yong Koon in 1885, Royal Selangor Pewter is a Malaysian pewter manufacturer-retailer which has since become the largest global brand leader in the line of pewter objects manufacturing and a prominent one in the metal craft industry. It is also recognized as a very highly celebrated Malaysian brand icon because of the success that it has gained throughout more than a century of existence. Looking at what Royal Selangor has done, it is needless to say that Royal Selangor has expanded its product range beyond mere pewter objects to a broader variety such as certain glassware and jewelry. Due to the fact that Royal Selangor made such a bold move by venturing into foreign shores, it cannot be denied that the company is bound to face a myriad of possible challenges if it were to carry on with what it is doing. In this case, having a well-planned STP strategy which allows the company to identify its intended market segment thus enabling the company to single out specific groups of buyers would be a very beneficial move. At the same time, it will also help Royal Selangor to set its target market and position its brands in which as we can see, it is already something that they have accomplished because Royal Selangor is a high-end luxury brand name in the minds of many and that the company makes pewter objects of the best quality. Therefore, on a personal level, I’d like share my insights on the STP strategy and marketing mix of Royal Selangor.
STP Strategy:
Royal Selangor has been able to divide and partition their market segment in a somewhat organized manner. From where I see this, Royal Selangor has catered to a couple of highly notable figures such as the likes of the former U.S President Bill Clinton, Hollywood actor Mel Gibson and lifestyle talk-show host Martha Stewart. Notable figures like celebrities and political icons are supposed to make
References: Royal Selangor Pewter (n.d.) Royal Selangor. [online] [Accessed: 20 November 2012]. Peopalove (2012) BrandTalk: Branded means Wanted. [online] Available at: http://www.peopalove.com/brandtalk/2005/jul/wanted.html [Accessed: 20 November 2012]. The Star Online (2012) Royal Selangor on expansion mode. [online] Available at: http://biz.thestar.com.my/news/story.asp?file=/2010/9/18/business/6935822&sec=business [Accessed: 20 November 2012].