Swatch: The One to Watch
Every serious entrepreneur endeavors to create a product or service that will revolutionize the known world. Ingenuity ignites the flame and perseverance fuels the fire while mogul-hopefuls anticipate consumer satisfaction. Nevertheless, strategic efforts are an unrivaled asset no matter how great the idea. Since the boom of modern-day business, industry experts have refined how-to-make-a-buck to a complex science that analyzes the who, what, why, when, where, and how of ensuring profitability. A concept known as “The 4 Ps”: sums up a snapshot of their findings: Product, Price, Place, and Promotion (insert textbook reference here, i.e, Norris, 2010). ...view middle of the document...
Its economical design also lent itself to remarkable competitiveness in pricing: “Swatch is an example of minimalism by using only 51 components. Compare that with a traditional watch which has a least 100 …Swatch watch has a cost making which is 5 time smaller than that of a traditional watch” (Swiss Watch, 2010, para. 3). Consistent with its product predecessors, most Swatch watches are moderately priced in categories spanning “less than $50, $50 – 100, $100 - $150, and $150 or more” (Swatch, 2010). As a result, the company was able to outpace its competitors with quality, quantity, affordability, and fashionable appeal, thereby increasing its chances for brand loyalty (Swiss Watches, 2010).
Rapid advances in technology have clearly worked toward Swatch’s advantage. The advent of the Internet and digitally astute consumers has maximized opportunities for the company to parallel the delivery of products to meet its continued demand while strengthening its motif of intrigue (Ferrell and Pride, 2007). Artistically provocative web pages invite users to peruse its diverse line extensions and latest news and rub electronic elbows with celebrity Swatch enthusiasts, while still offering the option to visit brick-and-mortar locales summoned at the click of a mouse. With a global presence on both the world-wide-web and internationally throughout 600 stores, its ability to move from product to patron is impeccable and has established it as an leader irrespective of its popularity decline as compared to the 80s pop-era (Swatch, 2010).
As with any organization that has earned a trailblazing badge, Swatch continues to keep its hands on the pulse of the market. Carefully orchestrated campaigns span a multimedia milieu that includes...