Marketing - Luxury Watch Marketing Plan Essay
Table of Contents 1. Executive Summary 3 2. Main Report 4 2.1. Context Analysis 4 2.2. Market Analysis with Porter’s Five Forces 7 2.3. Pocket watch Industry Background 8 2.4. Description of Product 9 2.5. Factors Considered while purchasing luxury watches 10 2.6. Segmenting Targeting and positioning 11 2.7. Distribution 13 2.8. Brand 17 2.9. Advertising 18 3. Conclusion 20 4. References 21
1. Executive Summary
This report contains a marketing plan strategy for a new luxury watch entering the luxury watches market. The new product that will be launched on this market is a exclusive luxury watch. Exclusive luxury watches are defined as the ones sold above …show more content…
Some customers could buy a watch while others would rather travel to tropical and exotic countries, or buy luxury cars or furniture. Therefore, because the range of substitute products we can include is so broad and difficult to define clearly, it is rather difficult to assess accurately how serious the threat is. e) Rivalry among Competition: Concerning the large trends, the past years, big groups were fighting over brands: each group wanted to increase its brand portfolio by taking over independent brands.
3.3. Pocket watch Industry Background
There was a time that no gentleman felt well-dressed without his pocket watch. Pocket watches, which originated in the fifteenth century among the upper class nobility, reached their heyday in the mid-17th to early 20th century. At one point in time, no middle or upper class gentleman would dream of leaving home without his pocket watch. Among the working class, pocket watches were more than a sign of status. They were, for many workers, an important work tool. Railroad workers, in particular, relied upon their pocket watches to time their duties.
By the middle of the 20th century, with the advent of inexpensive wristwatches, the popularity of pocket watches began to wane. From full hunters' case watches to ladies' pendant watches, pocket watches