Europe 1992

Date of publication: June 15, 1991

Abstract:

The primary responsibility of the World Gold Council (W.G.C.) is to stimulate the demand for gold in all its end uses through promotion. Since two-thirds of newly mined gold is used in jewellery manufacture, this consumer-driven market is the W.G.C.'s first priority. This paper shows how the European Division of the W.G.C. has anticipated the general regional trend towards a single market, by developing advertising and promotion programs aimed at a pan-European definition of the target market. This has been achieved by a recognition of the fact that despite considerable differences between the key markets in gold ownership and acquisition behaviour, there is a leverage able similarity across markets in socio- demographic terms, but even more in terms of underlying attitudes and motivations. The paper discusses the W.G.C.'s development of three main types of consumer research input and their integration into strategic planning and the development of marketing and advertising programs: Target market identification and motivation via socio-cultural research and trade-off studies Market monitoring via tracking studies Market modelling as a basis for both market and resource prioritisation. As a consequence of these consumer research programs the W.G.C. has achieved a much improved concentration of resources behind programs designed to impact the newly identified European target consumer.

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