Skagen - International Marketing
International Marketing assignment
Introduction
Skagen must target the growing economies like India, China, Vietnam, Brazil, Russia more aggressively as there is good growth opportunity here and Skagen being a Danish Brand (European heritage) still enjoys the status of exclusivity here. However we decided to do analysis on India as a market in this submission, as one of the markets for Skagen for aggressive growth.
Product Analysis 1. Buyers: Skagen should continue to target the aspirational high income group to high income group segment. It can actually come up with a premium range/limited collection range, other than its regular one. It should target buyers who are willing to pay more money for an exquisite watch. These markets also have a huge potential in the eyewear and clutches (ladies small purse) category and should test these markets and try these buyers too.
2. Type: Skagen’s positioning in the Indian market can be that of luxury which is affordable. It should segment the market age group wise and the collection should have watches for two age segments above 30 and below 30. The above 30 segment should be more classy and elegant but that can be worn by even younger age groups as an occasion driven watch. The below 30 segment needs to more youthful in appeal. Also like they did in UK/USA associating sports with watches, they can try the same model in India with Cricket. It will have a mass appeal in their promotion. Skagen should target metros and small 2 tier cities as well.
3. Features: Skagen already has good quality standards and enjoys good reputation. However ensuring very high quality is a must as Indians are very price conscious and want the maximum value for money.
4. Uses: In India like in other countries Watches have graduated to be the fashion/status symbol dimension of the product. Festivals would be good time in India to come up with schemes to increase sales
5. Manufacturer: At this stage Skagen should
Introduction
Skagen must target the growing economies like India, China, Vietnam, Brazil, Russia more aggressively as there is good growth opportunity here and Skagen being a Danish Brand (European heritage) still enjoys the status of exclusivity here. However we decided to do analysis on India as a market in this submission, as one of the markets for Skagen for aggressive growth.
Product Analysis 1. Buyers: Skagen should continue to target the aspirational high income group to high income group segment. It can actually come up with a premium range/limited collection range, other than its regular one. It should target buyers who are willing to pay more money for an exquisite watch. These markets also have a huge potential in the eyewear and clutches (ladies small purse) category and should test these markets and try these buyers too.
2. Type: Skagen’s positioning in the Indian market can be that of luxury which is affordable. It should segment the market age group wise and the collection should have watches for two age segments above 30 and below 30. The above 30 segment should be more classy and elegant but that can be worn by even younger age groups as an occasion driven watch. The below 30 segment needs to more youthful in appeal. Also like they did in UK/USA associating sports with watches, they can try the same model in India with Cricket. It will have a mass appeal in their promotion. Skagen should target metros and small 2 tier cities as well.
3. Features: Skagen already has good quality standards and enjoys good reputation. However ensuring very high quality is a must as Indians are very price conscious and want the maximum value for money.
4. Uses: In India like in other countries Watches have graduated to be the fashion/status symbol dimension of the product. Festivals would be good time in India to come up with schemes to increase sales
5. Manufacturer: At this stage Skagen should