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Improving the Business Model of Darry Ring Market
- 1 Business Administration, SHANGHAI JIAN QIAO University, Shanghai, 200000, China
* Author to whom correspondence should be addressed.
Abstract
Darry Ring's distinctive brand concept helped it become the public's favorite and choice during the epidemic period, and sales did not fall but climbed. However, in the late stages of the epidemic, because of the trailing effect of the new crown epidemic, which resulted in an extraordinary fall in Darry Ring sales, the brand stores struggled to operate, and several were forced to close. This study sought to investigate how Darry Ring's strategic model could be modified to better react to the market in the late phases of the new crown epidemic. The Darry Ring will be used as a case study to conduct a thorough investigation of its post-epidemic sales fall, as well as its financial reports, post-epidemic employment data, marriage rate data from recent years, and other information. Due to the increasing number of branded diamond rings in the same category, it is recommended that Darry Ring implement a price reduction plan and provide additional value-added services in the future. In response to the fall in demand for diamond rings caused by the marriage rate, it is advised to focus on their unique traits while expanding into overseas markets. Finally, in response to the drop in sales caused by a lack of brand trust, it is proposed that the brand's credibility and image be reestablished.
Keywords
Brands in the same category, Marriage rates, Brand trust, Darry Ring
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Cite this article
Ma,S. (2024). Improving the Business Model of Darry Ring Market. Advances in Economics, Management and Political Sciences,78,211-216.
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Volume title: Proceedings of the 3rd International Conference on Business and Policy Studies
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