Strategy of Tissot Analysis

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  • Topic: Marketing, Vietnam, Advertising
  • Pages : 11 (3852 words )
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  • Published : June 13, 2011
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Table of Contents
Executive summary2
Introduction2
PART 1: CURRENT SITUATION ANALYSIS2
I.ASIAN WRISTWATCH MARKET2
II.TISSOT INDUSTRY3
1.History3
2.Sales analysis4
3.Marketing and sales5
III.PROBLEM6
1.Viet Nam Environment6
2.Swot Analysis7
3.Unique Selling Proposition (USP)9
PART 2: RECOMMENDATION9
I.Growth opportunities of Tissot10
II.Market Segmentation - Positioning of New wristwatch.11
1.Segment Targeting11
2.Positioning12
III.Selected Marketing Strategy12
PART 3: CONCLUSION13
Appendix:13
REFERENCE13

Executive summary
Asia is a potential market for Tissot as well as Viet Nam. Although Tissot launched into Viet Nam for many years, however, it is unknown with many Vietnamese people. The reason is ineffective marketing strategies so it doesn’t attract Vietnamese customers. It affects development of Tissot at Viet Nam market. In addition, Tissot has to face to big competitor is replica Chinese wristwatch with cheap price and various design. The recommendation for Tissot focuses on promotion and advertising. Tissot should contact with singers or models to make advertising through TV, online, newspaper. Besides, Introduction

Tissot come to Viet Nam so soon, but it is still unknown brand in Viet Nam. Therefore I choose topic: “MARKETING STRATEGY OF TISSOT IN VIET NAM” to investigate and analyze Tissot’s marketing strategies, then give suggestions for Tissot’s future development in Viet Nam. The lay- out of topic includes:

* Part 1 : Current situation analysis
* Part 2 : Recommendation
* Part 3 : Conclusion
PART 1: CURRENT SITUATION ANALYSIS
I. ASIAN WRISTWATCH MARKET
By the growing strength of Asian economies, Asian becomes the most potential market for Swiss watch exports. In 2009 Swiss exports to emerging Asian economies has grown 6% compared to an EU average of 4.5 per cent (Following federation of the Swiss Watch Industry FH 2010 [1]).

In first nine months of 2010 shows the growth of exporting watch to Asian market outstripping those to Europe. Exports to the EU had grown by 4.2 per cent up to the end of September, compared to an increase of 25 per cent to China, 46 per cent to Singapore, 26 per cent to Russia, 21 per cent to Brazil and 19 per cent to India (swissinfo.ch [2])

II. TISSOT INDUSTRY
History
In 1853 Tissot was founded as a Swiss watch company by Charles-Felicien Tissot and his son Charles-Emile in Le Locle, Switzerland. The company became an official timekeeper for world championships like cycling, motorcycling, fencing, cricket and ice hockey. It also participated at the Davis Cup in 1957 and Downhill Skiing Switzerland in 1938. Tissot also contributed as a key sponsor for F1 teams like Lotus, Renault and Sauber Currently, Tissot Company is available in more than 150 countries. This brand focuses on developing high-tech products, special materials and advanced functionality In 1985 Tissot became a member of the Swatch Group - the Group manufacture and distribute the world's largest clock. Tissot’s watch collections include: T-gold, T-Trend, T-Classic, T-Pocket, T-Sport and Heritage.[3] Sales analysis

In the end of 2009, revenue of Swiss watch industry dropped 21.3 per cent. The world's largest selling brand Rolex, with revenues of over $3 billion, fell by 35 per cent. Omega, Longines, Rado, Seiko, Citizen and every other prominent brand lost revenue in 2009. However, in 2009 Tissot increased both volume sales by 2 per cent to 2.21 million and its revenue by 4 per cent. (Sources: thehindubusinessline.com [4]) Tissot sold 152000 pieces in its home market, 200000 pieces and 30000 pieces in both China and India. The average selling price of a Tissot watch was 430 Swiss francs (around Rs. 18,300) (sources: Watchmarketreview.com [5]). TISSOT market share is 27.7% compared with CASIO's market share was 20.5% and MIDO's market share was 13.6%. Other brands are relatively small. [6]

Marketing and sales...
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