Seiko, watch market, history of watches, watch industry, mechanical watches, quartz watches, Spring Drive technology, consumer perception, buying decision making, collectors, innovation, Fashion Segments, development plan
Watches have a long history which evolved significantly over time. Here are some examples of how the watch product category has evolved, and the key elements that have changed the nature of competition.
The early history of watches was dominated by mechanical watches, which used gears and springs to keep time. The key elements that have changed the nature of competition in this category include the development of more accurate and reliable movements, the use of new materials, and the incorporation of new features, such as waterproofing and shock resistance.
In the 1970s, the introduction of quartz watches revolutionized the watch industry. These watches used quartz crystals to keep time, resulting in even more accurate and reliable timekeeping. We had more sophisticated quartz movements, the incorporation of new features such as alarms and timers, and the rise of digital watches.
[...] Like us, the Japanese industry embraces a certain propensity for innovation, despite a slowing market and growing competition. Based on this brief presentation, my team and I have developed a map of our competitors to help illustrate the positioning that Seiko aspires to. Our competitors evolve in spheres. The cream of the crop, with brands such as Rolex or Omega. Followed closely by prestigious Swiss brands such as Tissot, Rado or Breguet. We do not have an appetite for this market which tends more towards a traditional aspect and very high prices. [...]
[...] Seiko and the watch market Hello everyone, it is great to see you all, thank you for coming here today. Today's we'll discuss our strategy to move upmarket. Let's briefly review the conduct of our meeting. Watches have a long history which evolved significantly over time. Here are some examples of how the watch product category has evolved, and the key elements that have changed the nature of competition: The early history of watches was dominated by mechanical watches, which used gears and springs to keep time. [...]
[...] For collectors and enthusiasts This segment of customers' desire watches which are made by the top designers of the world. Customers associated Seiko with leading technology. The spring drive allowed the watch collector to enjoy the beauty of a traditional watch with the accuracy of a high tech one. For customers in search of innovation These are the customers that want the latest designs and innovation in their watches with state-of-the-art technology. These watches perform multi-task functions, while not just focusing on telling time but it also focuses on performing other activities. [...]
[...] Sponsorship of Major Sporting Events: Seiko has been the official timekeeper of many major sporting events. Theses sponsorship has helped to enhance the brand's image and increase consumer perception of its quality and precision Segment the consumer market for watches In the early 1960's, watches were mainly used for chronometric purposes. At that time, watch makers' objectives were to mass produce precise timepieces at competitive cost and sell to everybody who needed a watch. Later on, the prevalence of cell phones further deteriorated watches' position as a personal primary timekeeping accessory. [...]
[...] Our Spring Drive collection will be positioned as the brand's flagship, embodying the perfect representation of luxury watches: absolute precision and high manufacturing. Only one retailer per market will be in charge of the Spring Drive collections. This store must possess a thorough understanding of the Spring Drive technology, share Seiko's long-term plan to move upscale, and be able to provide customer service that is appropriate for these objectives in order to be selected. pricing and positioning for the Spring Drive movement, how to lift Seiko's ASP up? Define targets. [...]
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