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Pages 8 (2008 words)
Marketing Communication Executive summery The study provides a clear background and rationale for the luxury watch industry in Singapore. Azimuth is a popular Singapore based watch company established in 2004 with an impressive mission and broad vision. The company’s value lies in customer satisfaction.
Higher GDP, high disposable income of people and technological advancement will help to motivate the company to do product diversification. The authentic luxury watches will provide the positive contribution by the innovative creation and identification of target audience. The luxury watches have the strength to influence customer ambition and purchasing behavior due to attractive product design, effective marketing and distribution strategy. Singapore is known for the high consumption rate country of luxury products. Supportive competitive market and implementation of supreme product positioning strategy will help the company to meet with the future objectives. These factors will motivate Azimuth Watch Company to enter in the luxury watch industry. Therefore, Azimuth has the opportunities and the required responsibility to introduce luxury watches in order to encourage sustainable consumption. External Environmental Scan The external environment scan will help to analyze the impact of external environmental factors on luxury watch industry. In order to do the analysis PEST analysis can be formulated. PEST Analysis The PEST analysis used to analyze the macro environmental forces that impact the strategic planning of Azimuth. This analysis will identify the business environment in Singapore for Azimuth. ...
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