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Transcript of CB2601 Swatch
Siu Wing Man (53086437)
Lau Wing Sum (53086505)
Hui Nga Man (53076456)
Leong Son Chi (52820835) CB 2601 Marketing Plan for Swatch Environment Analysis Company Analysis Competitor Analysis Consumer Analysis Recommendation PEST Political Environment - “One issuance multiple entries visa” for MoC tourists
- "Scheme $6000"
- Minimum Wage Economic Environment Internal factor
Salary and inflation rate
Expenses on household product and basic needs
Spending less on consumer products.
Rely heavily on tourists' spending that is currently decreasing Social Environment Watches become more of a fashion item instead of necessity Technological Environment The popularity of digital watches increases Marketing Strategy: bases upon the marketing concept Target Customer: young people who generally buy low-cost but trendy watches. Current 4P Price Product Place Promotion Place Product assortment
E.g. City Chain
Amount of service
Chain stores BABY-G ICE WATCH SWATCH More than 1,000,000 people ‘like’ this fan page Social factors – Social Networks Jessie J - MV Social factor – Celebrities Personal Factors Personal characteristics
Young, playful, funny, passionate, creative
Low cost with high quality
Casual lifestyle, trendy,
easy to mix & match Being on time
To be trendy Psychological Factors - Motivation Target Customer Age Group Children (3-14 yrs) Young Adults
(14-24 yrs) Adult
(24-55 yrs) Elderly
(55+ yrs) Suit the brand image How? Build a high-end, dynamic brand image targeting at young adults Promotions:
Ideally K-pop Stars Product:
More luxurious but still trendy and youthful watches Place:
High-end shopping malls
e.g Harbor City Price:
More expensive items:
attract another group of
customers to push sales Create a Sub-brand with specialized products Product:
Mature-playful watches Promotions:
Having discounts on specific products if they purchase on the spot Place:
High-end shopping malls e.g Harbor City Price:
Hold promotion activity in large shopping centres Long - term planning Short-term planning Mission Statement: to offer low cost, high quality, and accurate watch with synthetic material Society awareness of environment increases Private consumption expenditure Simple packaging Swatch Touch Low price for high quality
Design then pricing
Cost-based pricing - convince their customers to buy their products
Market skimming strategy
Product line pricing
Promotional pricing Both direct stores and retailers
Direct stores: major shopping malls and tourist attractions
Retailers: MTR stations and smaller malls Six elements
Self-respect Advertising Appeals
Emotional appeals, simple image and simple advertising
Satisfy consumers’ psychological needs
Presents a kind of humor
Imagery Execution Action Plan "There is a reason to buy a watch every month" January: New Year, New you
February: Valentines Day
April: Buy to enter lucky draw for spokesperson signed watch
May: Time is running out!
June: Summer is here! Encourage more often Purchase: A stamp design/month, customer who collected all 6 stamps have the chance to join the gathering session of spokesperson Two promotion activities First two weeks of February:
Theme: Only Swatch can match with the beauty of your girl
Strategy: (No purchase required) Reverse Abercrombie&Fitch style (no 'Leng Mo') Location: Major shopping malls such as Times Square and Harbour City Targets: High consumption ability young adults June:
Theme: Sexy Summer
(Purchase required) Abercrombie&Fitch style SWOT SUMMARY Short term(before 2014): To operate 10 more brand stores locating in high-spending areas in order to further increase the market shares and stabilize market position Long term(before 2018): To produce innovative, high-end traditional (non-digital) watches that can meet the trend of today’s world that will increase our market share of traditional watch by 25%. Market objectives (No spokesperson) With focus on women's plastic watches END OMG finally done lah!