This project intends to comparison of the stores of Swatch & Tissot watches. In the 1st stage of the project report the importance of branding in luxury retailing with specific reference to the watch I industry have discussed. In the 2nd stage of the report the branding strategy of SWATCH & TISSOT watches on the basis of their Store Operations Management have discussed. The store design, display, assortment, ambience etc have discussed. In the 3rd stage the comparison the profile of both brands’s target market have discussed. In the 4th stage the description of the Individual brand’s values have given. As per above study in the 5th stage the recommendation have given.
1.To know the importance of branding in luxury retiling with respect to watch industry.
2.To know the branding strategy of SWATCH & TISSOT watches on the basis of their store operations management.
3.To do comparison the profile of both brand’s target market
4.Description of the Individual brand’s values
•Discussion with representatives of both stores.
•Discussion with customers at both stores.
Importance of Branding in Luxury Retailing with specific reference to the Watch Industry Branding is one of the most important aspects of any business, large or small, retail or B2B. An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does "branding" mean? Simply put, the brand is a promise to customer by the company. It tells them what they can expect from products and services, and it differentiates offering from competitors'. Brand is derived from who you are, who you want to be and who people perceive you to be. The foundation of brand is logo, website, packaging and promotional materials--all of which should integrate company’s logo—communicate brand. Luxury Retailing has shown a significant growth in the 21st century. However, in order to maintain a share of the dream associated with the purchase of a luxury item, the latter cannot be mass produced. Moreover, the house must respect the integrity of its quality, its distribution network, and innovation in its products. In the communication of luxury, the brand is paramount. It is as important as the product. It has heritage value. It is thus appropriate, to inspire the communication, to define the territory of recognition, the history of its brand, its terrain, its genealogy, the founder and his descendants, its traditions and its codes. Its legitimacy is based on its quality and its refinement, because a luxury brand is excellence by know-how (the craft), quality, creativity and also the legend. Customers also form part of the brand. As proof, there are customers who convey the image, but also those who destroy the image. Since the demand for luxury is directed towards other desires like the satisfaction of material needs, the imaginary dimension will constitute an essential component; which brings out the importance of alternative advertising in communication. Communication will be the principal tool to reinforce and build this dimension. The brand thus has a real personality. It does not matter that it draws on various products. It must be coherent with the whole range of products and the consumer must recognize that which is called the legitimate territory of the brand, with a certain number of characteristics. In the luxury sector, it is essential that communication serves the product and the brand and not the reverse. In the majority of the cases, it will be enough to point out the existence of the product, without necessarily showcasing it. The concentration of the luxury brand sector around multinationals, each one with their own strategy, contributed to the professionalism of the fashion sector. Thus, the entry barriers are even higher for young designers wanting to try their luck....