Assignment 1: Preliminary Product Screening Report

Only available on StudyMode
  • Topic: Opal, Economy of Australia, Gemstone
  • Pages : 9 (2693 words )
  • Download(s) : 56
  • Published : December 1, 2012
Open Document
Text Preview
PRELIMINARY PRODUCT SCREENING REPORT:

OPAL JEWELRY

16/08/2012
Assignment one.

EXECUTIVE SUMMARY:

Gems and jewelry play a significant role in Australian customs and traditions, making this sector integral to the economy and one of the fastest growing industries in the country. Precious opal ranks with diamond, as one of the most valuable of gemstones. Opal jewelry can have a big variation on their values, opals materials to make those jewelries can start at AUD$1.00 per carat and go to AUD$20,000.00 per carat. Apart from Australia and Slovakia the only other countries with a significant production of opal jewelry have been Mexico and Brazil. Australian opal jewelry can be a sound long-term investment, with value appreciation climbing yearly. Weakness: Australia does not invest in overseas marketing for jewelry, if the country started investing on that, opportunities would came, building up the opal market overseas Australians have the opals as old-fashioned jewelry; they should be re-educated about that. Compliance: Intellectual property (IP) is an essential tool to protect your ideas and the work you generate as a designer in the fashion industry. It’s also one of the essential building blocks of Australia’s economy, because it helps foster creativity and reward innovation.

TABLE OF CONTENTS:

Executive summary: …………………………………. Page: 2

Introduction: …………………………………………… Page: 4

Research Findings: …………………………………... Page: 5

Analysis and Conclusions: …………………………… Page: 12

Opal types: …………………………………………… Page: 13

INTRODUCTION:
Since the last century, Australia has been the prime producer of gem opal in the world. Now a day, Australia exports over 90 per cent of natural opal, making a significant contribution to Australia's economy.

The infinite variety of color and pattern makes opal a very special stone. Opal is unique in that the stone changes color when it is rocked back and forth or when it moves on the neck so mounting it in Australian opal jewelry displays the rock in the very best setting.

The task for this assignment 1 in certificate IV international trade was to undertake preliminary screening of an Australian product. The task was to choose and research an Australian product made in Australia from mostly Australian resources that we wish to market internationally. Once the product was selected we were then asked to perform a research using primary and secondary resources for our research. To be Included in this research are vital pieces of information such as price, product, promotion and place, consumers of the product, competitors in the industry and the product cycle of our product. Through this preliminary research we will be able to gain an idea of whether or not exporting our chosen product will be a successful venture or whether there will be risks involved. The Australian product I have chosen is Opal Jewelry.

RESEARCH FINDINGS:

PRODUCT DESCRIPTION:

There are more then 19 mines situated all over Australia. New south Wales, for example, is famous for your black opals. This state has the largest proportion of Australian Opals in term of value. There we can find two mines: Lightning Ridge and White Cliffs.

Queensland produces Boulder Opal, which is a unique type of opal and is found attached to a host rock, ironstone. Only Queensland have the Boulder opal, and is found in deposits in weathered sedimentary Cretaceous rocks in the west of the state. This state have four mines, which are: Quilpe, Winton, Opalton and Yoah. South Australia has four active opal mining fields, Andamooka, Coober Pedy, Lambina and Mintabie. South Australia is largest producer of opal in terms of volume, and produces the white opal, crystal opal or 'milky' type of opal. Source: http://www.costellos.com.au/opals/types.html

This research is based in a business operated in Queensland, having as a main product Boulder opal. Although, the company also sells all types of opals...
tracking img