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Situation Analysis, Target Market Identification Report - Essay Example
Pages 10 (2510 words)
Omega Ladymatic market analysis Name Tutor Institution Executive summary Luxury wrist watch market has been growing since the 1990’s because of improved income levels among populations in America, Europe and Asia. This brand of watches range from replicas that are an imitation of luxury watches to ultra-luxury models having components made of gold, diamonds and other high value substances…
This makes them feel more masculine. This report undertakes a comprehensive study of marketing analysis of the luxury wrist watch line of products. It will provide an opportunity to study client’s psychographic needs. This is very vital information as it provides an opportunity for Swatch Group to develop a plan for satisfying customer’s unique needs. A comprehensive analysis report gives information about challenges and opportunities in this market that can be explored by Swatch Group, through its Omega brand, to increase Ladymatic’s market presence. This also helps the company make adjustments on short and long term marketing initiatives and other promotional activities to ensure company resources are utilized in the most cost effective manner. Introduction Ladymatic wrist watch was first released to the market in 1955. Its sales has had a steady growth through the years; only affected by economic slumps experienced in 1970 and 2008. Increased income levels meant a higher chunk of its market could afford acquiring this high end device. It was Omega Company’s first brand of self-winding devices for the modern lady; it is also small and light hence the wearer can easily move around having it on. ...
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