Marketing - Luxury Watch Marketing Plan - 4145 Words

Perkupoldies Marketing Plan | | 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†¦b) Bargaining power of buyers: If the brand is very famous, successful and appealing to customers, there is no obvious difficulty for distributors to sell the products: the marketing and communication efforts done by the brand will drive customers easily into the jeweler’s shops. Jewelers are usually not especially risk takers and if they have no guarantee that the brand is a hit and will be easily sold, then one might have a hard time trying to convince them to buy ones products. All the power is in the hands of the distributors; with no distributors, the way to the customers is locked. What is more, distributors might be pressured by actual players to refuse to distribute new brands. Therefore, as we mentioned earlier, distribution is an important barrier to entry. c) Bargaining power of Suppliers: The luxury watch industry is dominated by mechanical technology; as a result, the procurement of mechanical movements is the high end brands’ main concern. Qualified manpower can also be an issue that should not be neglected; the number of watchmakers able to produce some of the most intricate complications is very small. d) Threat of substitute products: Counterfeit is a phenomenon that needs to be mentioned because it represents a non-negligible threat f or the luxury watch industry. Secondly, in a larger sense, other luxury products can also be considered as a substitute. Now if we think about a legal substitute, which could be fought withShow MoreRelatedSeiko Case Study Summary1725 Words   |  7 Pagesand selling second-hand clock to one of the leading names in the watch industry. Over the course of its history, Seiko has proved to be a very innovative company; it was the first company to launch the quartz wristwatch in 1969, it produced the battery-free Kinetic line in the late 1980 and launched the mechanical/quartz hybrid technology under the Spring Drive brand in 1999. 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