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Proposed Marketing Plan for Lacher Pty Ltd Watchmakers.

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Introduction

Proposed Marketing Plan for Lacher Pty Ltd 1. Company Background: In the year 1925 Frieda Lacher had found the company Lacher & Co together with her companion Ludwig Hummel. From this company name the brand name Laco was derived. In 1936 Frieda's son Erich took over the company changing its name to Erich Lacher Uhrenfabrik. He then produced the legendary observation watch. Also in the 1950s the company cared for quality and thus the brand name Laco established itself among the big renowned watch brands of Germany. (Source: http://www.laco.de/lacoeng/history.html) Today, Lacher is a small company capable of producing 1,000 watches daily and their four products lines include Pilot, Diving, Sports and Dress watches. ...read more.

Middle

Our iconic pilot watches will remain faithful to its original design but will house affordable and yet reliable Japanese watch movements. Illustrated below are the proposed Pilot watch models made popular in the 1940s: 3. Innovation Justification & Value Creation: (Define Innovation and Value Creation) After performing market research (define) and gathering feedback from a sample of respondents, the following established reasons seek to justify our proposal and reflect the value creation to current and new markets: 1. The current range of Laco pilot watches is deemed to be too expensive, too small, or too massive by collectors. 2. Furthermore, purists and beginners alike are more akin to pilot watches without branding on the watch dial, yet are aware of our pedigree in watch production. ...read more.

Conclusion

Target Market Segments & Product Fit A product can only be perceived by customers as valuable and innovative when the right groups are targeted. As such, the rise of value conscious watch collectors from Asian markets such as India, Singapore, Hong-Kong, Malaysia, Japan, Taiwan, Vietnam and Indonesia will form the bulk of our new target customers whose profile will be discussed further into the marketing plan. Such collectors tend to male, budget conscious working professionals that lead sporty lifestyles or live a sedentary existence, spend about US$1,000-10,000 on watch collection and are interested in time-pieces that have historical relevance. 6. Conclusion This new marketing direction for Lacher Pty Ltd marks the first step in the process of positioning our company as the Swatch brand of Germany. More details will be unveiled in the Marketing Plan pending approval. ...read more.

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