Market Overview:
Tag Heurer, founded in Switzerland in 1860, is a company with a long tradition of being an innovative and high-end luxury brand with strong links to the sporting community. The company’s watches have demonstrated their reliability and precision time and time again as the official timekeeper of the Olympic games and formula one racing. Tag Heurer holds many patents in order to protect their technology from unauthorized reproduction. The company is now a part of the LVMH family, which places Tag Heurer amidst other well-known luxury brands such as Louis Vuitton, Moet, Hennessy, and others. The brand has been well represented by numerous celebrities including actor Brad Pitt, tennis pro Maria Sharapova, and basketball star Yao …show more content…
The company’s wares are available at 72 authorized retailers throughout the country, and these retail locations are mostly in large city centers, such as Oakville, where the products are easily accessed by the affluent. This also helps to deepen their brands position of being one of luxury. Further Tag Heuer has a well designed website which makes the purchase of Tag products even easier for those in communities where there may not be another means of acquiring Tag products. Tag has been well represented by celebrities and accomplished athletes, and as has been proven repeatedly, those who idolize the celebrities try to emulate them by purchasing similar brands, or the brands of that particular celebrity. A good example of this is the success Nike had with Michael Jordans’ Air Jordan shoes—everyone wanted to “be like …show more content…
The reason for this is that the brand has an opportunity to begin connecting and create a relationship with this market as they age and graduate into the main targeted demographic. In addition, the younger markets have a growing amount of buying power, many live at home and approximately half are employed(Usalcas & Bowlby, 2005)—this means more disposable income. This group is heavily influenced by those they admire and tend to select brands to emulate their idols. This coincides with Tag Heuer’s current advertising strategy of using celebrity endorsement, meaning little will need to change in order to target them
Tag Heurer, founded in Switzerland in 1860, is a company with a long tradition of being an innovative and high-end luxury brand with strong links to the sporting community. The company’s watches have demonstrated their reliability and precision time and time again as the official timekeeper of the Olympic games and formula one racing. Tag Heurer holds many patents in order to protect their technology from unauthorized reproduction. The company is now a part of the LVMH family, which places Tag Heurer amidst other well-known luxury brands such as Louis Vuitton, Moet, Hennessy, and others. The brand has been well represented by numerous celebrities including actor Brad Pitt, tennis pro Maria Sharapova, and basketball star Yao …show more content…
The company’s wares are available at 72 authorized retailers throughout the country, and these retail locations are mostly in large city centers, such as Oakville, where the products are easily accessed by the affluent. This also helps to deepen their brands position of being one of luxury. Further Tag Heuer has a well designed website which makes the purchase of Tag products even easier for those in communities where there may not be another means of acquiring Tag products. Tag has been well represented by celebrities and accomplished athletes, and as has been proven repeatedly, those who idolize the celebrities try to emulate them by purchasing similar brands, or the brands of that particular celebrity. A good example of this is the success Nike had with Michael Jordans’ Air Jordan shoes—everyone wanted to “be like …show more content…
The reason for this is that the brand has an opportunity to begin connecting and create a relationship with this market as they age and graduate into the main targeted demographic. In addition, the younger markets have a growing amount of buying power, many live at home and approximately half are employed(Usalcas & Bowlby, 2005)—this means more disposable income. This group is heavily influenced by those they admire and tend to select brands to emulate their idols. This coincides with Tag Heuer’s current advertising strategy of using celebrity endorsement, meaning little will need to change in order to target them