Swatch 2
- 1. Ashley Lutzker Nathalie Hirschtritt Hsin-Yi Tai
- 2. Swatch Swatch is a Swiss company Headquarters in Biel, Switzerland First went on sale in 1983 Has been called the most successful wristwatch of all time There are over 600 Swatch stores world wide
- 3. Methodology Interpretive: a deep understanding of consumption and its meanings. Methods of study: long interviews
- 4. Objective 1: Explore purchase behavior for watches in terms of timing, information search, spending, etc. Both males & females wear a watch mainly for time keeping purposes Male interviewees spend more time researching purchase of watch than female interviewees Majority of research is done on the internet Amount spent on a watch is dependent on brand
- 5. Objective 2: Evaluate peoples’ motivations for purchasing watches for themselves Main reasons for purchase: Broken watch (both sexes) As an accessory (female interviewees) Impulse purchase Durability is most important to males, while brand is more important to females Opinions of friends can influence purchase Interviewees seem less aware of Swatch beyond traditional plastic design Hesitancy towards purchasing plastic watches due to ‘kiddie’ look and past use
- 6. Objective 3: Identify young people’s emotional connection to the Swatch brand Stylish, fun, and energetic personality Young (18-30) Makes people feel happy Triggers memories of high school and college Gives a casual and relaxed feeling
- 7. Objective 4. Examine brand awareness of Swatch High brand awareness Interviewees mentioned Swatch in their top 5 Perception: colorful, light weight, designed well (fancy, sometimes simple), cutting edge All interviewees have been visibly aware of others wearing Swatch within the last month
- 8. Objective 5. Test whether promotional activities and/or advertising would influence consumers’ buying patterns Celebrity spokesperson wouldn ’ t have an impact Sponsorships/promotional activities at concerts and sports games were top of mind Interviewees felt best places to advertise would be in magazines: Fashion Sports Entertainment Design
- 9. Marketing Plan - Product Separate product lines by function Sport Fun http://www.swatch.com/en/watches/puzzlemotion.html Classic Special Collections Improved durability Plastic band needs to last longer
- 10. Swatch Lines Classic Sport Fun
- 11. Marketing Plan - Placement Available in all Swatch stores Partner with art museum and exclusive retailers to make product more available U.S. consumers MOMA Bloomingdales Urban Outfitters
- 12. Marketing Plan -Price Maintain current price point $50 - $150
- 13. Marketing Plan - Promotion Sponsorships No Doubt concert tour X-Games Internet Advertsing MTV.com ESPN.com Ticketmaster.com Print Advertising Fashion (Vogue, GQ) Design (Wallpaper) Entertainment (Entertainment Weekly) Sports (Sports Illustrated)
- 14. Advertisement
- 15. Advertisement
- 16. Advertisement
- 17. Advertisement
- 18. Conclusion brand awareness/ product awareness Positive emotional connection Low purchase intent Advertising, Quality upgrade & Sponsorship suggestions should reinforce awareness and increase product line awareness