Patek Philippe Marketing

Only available on StudyMode
  • Download(s) : 484
  • Published : April 25, 2013
Open Document
Text Preview
Executive Summary
This report is commissioned to examine what marketing factors affect on organizations, so it provides an analysis of watch industry in Australia such as growth of watch industry and market share of major companies. Also, relevant data such as marketing strategy of organization, competitors, and customers in terms of microenvironment and political and demographic factors in terms of macro environment are identified and evaluated. Furthermore, results of data analyzed show that how Patek phillippine builds marketing strategy in order to meet customers’ needs and wants. Further investigations reveal the segmentation, targeting and positioning of Patek phillippine. In order to explain this, a number of high status men benefits sought of customers are mainly investigated.

Table of Contents
1.0 Introduction ……………………………………………………………………………….4 1.1 Purpose…………………………………………………………………………………...4 1.2 Background ……………………………………………………………………………..4 1.3 Scope……………………………………………………………………………..4
2.0 Industry analysis …………………………………………………………………………..4 2.1 Market information ………………………………………………………………………4 2.2 Competition……………………………………………………………………………..5 2.3 Micro environment………………………………………………………………………5 2.4 Macro environment…………………………………………………………………………5 2.4.1 Demographic…………………………………………………………………………...6 2.4.2 Political………………………………………………………………………………...6 2.5 Product category…………………………………………………………………………5

3.0 Segmentation analysis ……………………………………………………………………6 3.1 Segmentation………………………………………………………………………………6 3.1.1 Demographic……………………………………………………………………………6 3.1.2 Geographic……………………………………………………………………………6 3.1.3 Psychographic……………………………………………………………………………6 3.1.4 Behavioral…………………………………………………………………………………6 3.2 Targeting……………………………………………………………………………………6 3.3 Positioning……………………………………………………………………………………6

4.0 Target market selection …………………………………………………………………….6 4.1 Characteristics……………………………………………………………………………..6 4.2 Needs and wants analysis……………………………………………………………………7 4.3 Satisfaction analysis………………………………………………………………………..7

5.0 Recommendation……………………………………………………………………………..9

6. 0 Conclusion ……………………………………………………………………………..10-11

7.0 Reference Lists ……………………………………………………………………...12-14

1.0 Introduction
1.1 Purpose
The aim of this report is to research marketing data and then to demonstrate to apply and determine the appropriate of a product for a target segment 1.2 Background
Since 1839 without interruption, Patek Philippe has been perpetuating the tradition of Genevan watchmaking. It is the last family owned independent watch manufacturer in Geneva. It create freedom to entirely design, produce and assemble what experts agree to be the finest timepieces in the world. Founders of this company is Antoine Norbert de Patek(1839) and Adrien Phillippe (1845). Patek Phillippe maintains a tradition of innovation hailed by repertoire of more than 80 patents. 1.3 Scope

Description of watch industry in Australia and what factors can affect to marketing strategy, in terms of microenvironment and macro environment, are discussed in this report. Also, main competitors are identified and evaluated. Also, this report presents description of product and segmentation analysis. Furthermore, this report shows behavior of target market and satisfaction analysis. 2.0 Industry analysis

2.1 Market information
Companies in this industry sell watch and jewellery items including rings, bracelets, necklaces and earrings. These may be broadly segmented into either fine or fashion jewellery. Industry retailers consist of independent operators which choose to trade under their own name or retailers which are part of a chain store group and trade collectively the one brand.

Source : Watch market share in Australia (http://www.euromonitor.com/watches-in-australia/report) Watches felt the pressure of the slowing Australian economy and increased consumer caution during the review period. Australians became more reliant on mobile...
tracking img