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Copy of Marketing Final project - Tag Heuer

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by

Julius von Dörnberg

on 2 October 2012

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Transcript of Copy of Marketing Final project - Tag Heuer

Marketing Fundamentals - Final Project In 2012 China surpassed USA in demand for luxury watches with 7,8% growth Aspirational Accesible Absolute Geographic segment Demographic Segment $ 1000 $ 10.000 $ 80.000 Group E: Maria Carolina Berrizbeitia - Dominique Bourgeon - Viraj Dhawan - Julius VonDornberg - Seoung uk Kim Psychographic Segment Europe North, Central & South America Asia Middle East Brand Positioning Geographic Segment Asia Middle East Europe North, Central & South America Geographic Segment Middle East Europe Asia North America Central America South America Demographic Segment Sex Age Income Psychographic Segment Brand Positioning Luxury brand with a long tradition in watchmaking. Its frame of reference is the luxury watch market with competitors like Omega, Rolex, Breitling et al. Geographic Positioning Developed vs. Developing Demographic Positioning 70% of TAG's watches are sold to men Strong masculine connotation Positioning in a mainly male dominated sport... Brand Attributes Performance Avant-Garde Absolute reliability Prestige Emotional benefit Provides status. It positions the customers on a social scale by giving a clear image of luxury, sport, fashion sophistication and identification. Functional benefit Accurate time Brand Identity Brand Slogan "History begins every morning" Brand Personality Precise
Sportive
Expertise
Precious
Succesful Communication Strategy Sponsorships Endorsements Competition Four P's Product Price Place Promotion Elements of Success Current & Future Challenges Recommendations Who is TAGHeuer History of TAGHeuer History of TAGHeuer 1860 Edouard Heuer Founded the company

1910 Invented the legendary chronograph

1964 Launch of the "Carrera" chronograph

1985 TAG acquires Heuer, forming TAGHeuer

1999 LVMH becomes the new owner of TAGHeuer Men and Women 28 years - 50 years Diversified group, with buying intention between $1,000 (F1 watches) and $80,000 (TAG Monaco V4 & Micrometer) Market distribution Rest of the world 32% 20% 48% USA top 5 1. Rolex
2. Omega
3. Cartier
4. Breitling
5. TAGHeuer China top 5 1. Longines
2. Omega
3. Rado
4. Cartier
5. Rolex Rolex Omega Hublot Breitling - Carrera
- Gran Carrera
- Monaco
- Link - Aquaracer
- Formula 1
- SLR
- Golf's Watch - TAG has a price range from 1,000 € to 80,000 €.

- Its luxury entry price level watches from 1,000 € to 5,000 € are especially attractive in developing markets like China and India. - High End stores across the world.

- Systematically closing retailers that do not comply with the luxury status of the brand.

- Does not support internet
sales. - Celebrity endorsement is the heart of TAG’s communication strategy, combined with a tradition of very rich and dramatic advertisement Cutting edge technology Strong ambassadors strategy Price points making the product accessible Rich heritage Global brand presence and distribution - Target customers predominantly male 70%

- Conscious image shift Sport to Glamour

- Sense of boredom setting in Product range

- Target vs Reality High End vs Prestige Thank You - Shorten product lifecycles in mens range + formal dress watches

- Build comprehensive womens range Casual to Formal

- Strengthen brand architecture Add range of design-oriented pieces

- Launch high end limited edition series Image holder

- Re-position brand between Prestige & High End + Image / - comp.

- Continue strong online marketing strategy Social Media Printed media & TV Social Media & Internet
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