The demand for rainbow bespoke rings has increased over the years. The product has managed to record a 16% increase in its sales in 2014, and it is still expected surpass this number in the coming years. In 2016 rainbow bespoke rings marked a net sales of $15.629 million and are later seen to increase by 19%, thus recording a net profit of $18598.59. These sales were made by overseas shops the deals in rainbow bespoke rings. The revenue collected for rainbow bespoke rings is still growing following the high demand for the product in India and the Arab countries, which have the highest number of those suffering from anxiety and those that are hypersensitive. In 2017 and 2018, a total of $60,578.97 was collected from online purchases that were made in different parts of the globe. Advancement in technology and the establishment of e-commas have significantly improved the sale of rainbow bespoke rings. From the quarterly audit reports, of 2019 purchases of rainbow bespoke rings are mainly done online, and the revenue collected through this method is much better when compared to the previous years.
The marketing objectives for this product is based on sales and promotions, which involves the issuing of discounts were necessary and reducing the prices of different products. This will compel customers to purchase more items while giving their feedback on the product and service. Given that the product is sold both online and on different retails shops, the product’s success can easily be measured following the responses gathered from the two different platforms (online & retail shops). Furthermore, the product is targeting those customers that straggling with anxiety related issue and those customers that are hypersensitive to their environment. There are quite a number of individuals that fall into this category; hence, they will benefit more. Additionally, social medium platforms are widely used all over the world, and their impact on marketing is evident in different businesses. Social platforms can be used to reach a large group of potential customer who will be willing to buy.
Rainbow rings are designed to help those individuals dealing with anxiety and those that are hypersensitive to manage their emotions through its spinning effect. This remedy offered by rainbow bespoke rings can be used to replace other cons-piques and impractical alternatives that often don’t work. Customers who wear bespoke rainbow rings will also be able to have a positive relationship with their surrounding environment.
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