• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Proposed Marketing Plan for Lacher Pty Ltd Watchmakers.

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Marketing essays

  1. Video rental shop Business Plan

    However, the cost of the advert per reader is often lower for national newspapers than for local newspapers. Also, particular national newspapers are usually read by certain social groups and if these people are the potential customers (target market), this may be a very cost effective way to reach them.

  2. Marketing Plan for Vitaminwater in Hong Kong

    the previous year, maintain a young image of the brand -Sponsor local sports competitions e.g. marathon by Standard Chartered -HK pop stars X free sample distribution in busy districts like Causeway Bay -Sponsor local competitions e.g. marathon by Standard Chartered -Hold activities like family fun cycling day, college students BBQ

  1. Zorbas Bakeries Ltd.

    A new shop opening for example, will be advertised heavily through the local radio stations. Advertising messages that want to raise an event, like the presentation of a new product use mainly the outdoor advertising. Outdoor advertising is used also by strategies that they deal with Brand Image Improvement.

  2. Strategy for Entry in the Swedish Market for Solid 55 Ltd

    55 has to deal with when starting the export of the product described above. CHAPTER 3. INTERNATIONAL MARKETING ANALYSIS 1. Structure 1.1. Corporate policy The corporate policy which actually lead to this analysis is one of sustained growth. The Bulgarian security doors market (and especially the segment of customers for the ALTD)

  1. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    strategy; and price is not varied enough for different product items, market segments, purchase occasions. Companies handle pricing in a variety of ways. In small companies, prices are often set by the company's boss. In large companies, pricing is handled by division and product-line managers.

  2. Marketing Magnum ice-cream in Vietnam

    These factors are also called the determinants of consumer buying behavior. These factors affect the consumer behavior differently 1. Cultural factors Culture is one of the important factors which affect the consumer buying behavior. Culture refers to the set of values, ideas, and attitudes that are accepted by a homogenous group of people and transmitted to the next generation.

  1. Sony Marketing Plan

    Also, customers always look for new and improved things,which is why marketers should improve existing products, develop new ones,and discontinue old ones that are no longer needed or wanted by the customer.Sony has a variety of products ranging from electronic devices, gamesand entertainment.

  2. Marketing Plan for "Moviestar" magazine in Vietnam

    Most of them are in hospitality industries. - Reseller: includes wholesalers, retailers across the country. - Online Customers: groups of customers who buy digital version of magazine, including all internet users. 2.3- Competitor Analysis The biggest competitors of MOVIESTAR magazine include printing magazines and E- magazines, the most prominent of which include: - Printing Magazine: TIEP THI VA GIA DINH magazine.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work