Brand Positioning: Luxury Watches
Market Segmentation
The market for Luxury watches consists of buyers, and Buyers differ according to their wants, resources, locations, buying attitudes, and buying practices. Because these buyers have unique needs and wants, each buyer is potentially a separate market. Therefore it is extremely essential for a marketer to analyze the segment in which it needs to compete. A seller might design a separate marketing program for each buyer.
The luxury watches market can also be segmented in a similar fashion. Some distinct factors which divide the market are as follows:-
1. Age
a. 20-35 years b. 35-50 years c. 50 yr and above
2. Sex
a. Male b. Female c. Unisex
3. Attitude/Orientation
a. Sporty b. Jewelry c. Technology
4. Brands a. Omega b. Rolex c. Tag Heuer d. Breitling e. Cartier f. Gucci
5. Price a. 10-40k b. 40-100k c. 100k +
6. Display a. Analog b. Digital c. Dual
7. Strap a. Leather b. Metal c. Synthetic i) Steel ii) Gold iii) Titanium
8. Benefit sought
Targeting
Targeting strategy or targeting is the selection of the customers you wish to service. The decisions involved in targeting strategy include:
Which segments to target
How many products to offer
Which products to offer in which segments
Targeting Market Segments
Competitive Analysis
Male/Unisex brands
Name Major products Mrkt Share Strengths Weakness
Tag Heuer 1. Formula 1
2. Golf Watch
3. Monaco 10% Visibility Late Entry
Omega 1. Seamaster
2. Constellation
3. Speedmaster 34% Tradition,
Technology,
First mover Considered old
Female brands
Name Major products Market Share Strengths Weakness
Gucchi 1. Singnoria 2% Other Product, Brand Value Technology
Marketing Communication Strategies
Name Brand Ambassadors Punch Lines Target Audience Media
Tag Heuer 1. Shahrukh Khan
2. Priyanka Chopra
3. Tiger Woods “What are you made off” Age – 25 – 45yrs
Sex –
The market for Luxury watches consists of buyers, and Buyers differ according to their wants, resources, locations, buying attitudes, and buying practices. Because these buyers have unique needs and wants, each buyer is potentially a separate market. Therefore it is extremely essential for a marketer to analyze the segment in which it needs to compete. A seller might design a separate marketing program for each buyer.
The luxury watches market can also be segmented in a similar fashion. Some distinct factors which divide the market are as follows:-
1. Age
a. 20-35 years b. 35-50 years c. 50 yr and above
2. Sex
a. Male b. Female c. Unisex
3. Attitude/Orientation
a. Sporty b. Jewelry c. Technology
4. Brands a. Omega b. Rolex c. Tag Heuer d. Breitling e. Cartier f. Gucci
5. Price a. 10-40k b. 40-100k c. 100k +
6. Display a. Analog b. Digital c. Dual
7. Strap a. Leather b. Metal c. Synthetic i) Steel ii) Gold iii) Titanium
8. Benefit sought
Targeting
Targeting strategy or targeting is the selection of the customers you wish to service. The decisions involved in targeting strategy include:
Which segments to target
How many products to offer
Which products to offer in which segments
Targeting Market Segments
Competitive Analysis
Male/Unisex brands
Name Major products Mrkt Share Strengths Weakness
Tag Heuer 1. Formula 1
2. Golf Watch
3. Monaco 10% Visibility Late Entry
Omega 1. Seamaster
2. Constellation
3. Speedmaster 34% Tradition,
Technology,
First mover Considered old
Female brands
Name Major products Market Share Strengths Weakness
Gucchi 1. Singnoria 2% Other Product, Brand Value Technology
Marketing Communication Strategies
Name Brand Ambassadors Punch Lines Target Audience Media
Tag Heuer 1. Shahrukh Khan
2. Priyanka Chopra
3. Tiger Woods “What are you made off” Age – 25 – 45yrs
Sex –