History of Swatch

We all knew that Swiss Swatch is a brand for luxury watches. But the company decided to expand their target market that is why they made another marketing strategy that will touch the low-salary market.<br />

History of Swatch

Marketing strategy of Swiss Swatch

Before, Swatch did not sell their product within the department stores you can only buy Swatch at jewelry boutiques. Because of this kind of strategy they lost a enormous market share they created a low market demand for their product so they decided to conduct diversification program. The objective of this was to tell Swatch all over the world ad to recapture the lower end market, develop a product that is inexpensive to manufacture, low priced, durable, technically advance and stylish at the same time.
The company’s marketing strategy is to make Swatch not just only a watch but also as a fashion accessory that can also touch the needs and wants of teenage market. In line with Swatch produced watches that were price friend and can afford by low end potential consumers. The company’s product design is a clear product concept based on: young and trendy; active and sporty; cool and clean high style and; classic. Swatch has enjoyed this success due to its innovative design and quality, with a perfect marketing strategy for its target audience. It is a hot collectable fashion accessory, which could be attached to clothes.
Unfortunately, because of the economic downturn that is happening until now and the changing preferences and culture of the target market, most of the wrist company especially Swatch group have been hit hard. Swatch as a brand has been performing well in these changing environment. But in order to stay ahead of this aggressive market, Swatch has to work on its R&D with a combination of new marketing strategies.
Good thing about Swatch is that they learned how to adapt the changing environment and tastes of their target market. Their creativity and imaginative skills enable them to improve their brand identity and market share. This helped them to rise again and back to the battlefield and be on the top again.

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