Branding and Positioning Cross examination of branded watches in the market The world population is anticipated to grow at an alarming rate of 1.2% which will translate into 700 million customers from the upcoming markets and third world countries (Buchanan, 2007)
In its nascent history, the Swatch Group managed to acquire multiple traits which commenced the "Swatch phenomenon" and diversify the Swiss watch company. The induced strategy process (it's vital for penetrating the core business opportunities) and the autonomous strategy process (examining new growth areas) (Burgelman & Grove, 2007, p 965) in case of Swatch Group, a company appears to amalgamate the operational efficiencies by penetrating into new areas and broadening its markets
Thus, the small level companies lag behind these heavy duty corporations in terms of R&D and technologies. The Swatch Group should maintain its driver's seat position with its brand equity, financial viability and global brand recognition (Diez-Vial, 2007)
They require great finances to cut through new breakthroughs. Specialized skills and able R&D facilities must be ready at their disposal (Fetz and Filippini, 2010)
2% which will translate into 700 million customers from the upcoming markets and third world countries (Buchanan, 2007). The global population grossed seven billion in 2011 (Kunzig, 2011)
Section 2: Swatch is a reputable watch corporation. What strategies should Swatch use to fortify and strengthen brand equity in order to make is competent to rival new products such as iPod nano watch as well as paralleling fashion/designer labels such as LV and Superdry? Concentrating on company-specific fortes The marketing strengths and operations assist in assisting firms value superficial operations (Morgan, Vorhies, & Mason, 2009)
In the upcoming years, the Swatch Group will be evolving its business model and stage an entrance into newer industries and focus on non-core assets. It opened a watchmaking school in 2005 in the city of New Jersey for dealing with trained personnel and skilled staff issue (Shuster, 2005)
Plastic materials are a primary threat upon the well-being of the natural environment due to their negative impact. Some sources even indicate that plastic wastes are more dangerous than global warming and base their argument on that plastics pollution destroys the natural ecosystems (Coursey, 2007)
Royal Caribbean has continued to try and build its brand via traditional means, but they could do better work in some areas that could possibly add market share to their line. Attitude Accessibility and Royal Caribbean As expressed above, the concept talks about how a person sees a particular product when they are asked about it, and also how quickly they are able to develop this association after they are asked about the product (Ajzcen)
So, the company first has to determine its market segment. Branding does apply to the general public, but it specifically applies to the public that is going to use that service (Edgell, Ruf & Agarwall, 1999)
This seems to be a trend that is not a fad, so the smart travel company will get into that segment as heavily as possible. Conclusion Marketing in the travel and tourism industry can be more difficult than in others because of the number of options available, and the fickle desires of the public (Fyall & Garrod, 2002), but if a company realizes what is important they can thrive even in difficult economic times
They could even contribute to the cause and advertise about their efforts. Another issue is the fact that the cruise packages offered have too narrow of a scope (Gilmore, et al
With respect to branding, it is a very important concept. Companies want customers to have an immediate positive image arise when their brand is mentioned, in whatever context (Grant, Button & Noseworthy, 1994)
It is difficult to monitor every experience that an individual has, but it is important to try. As the authors of one study said "image is everything" (Hartley & Morphew, 2008)
" For the purposes of this report, a customer hears the name "Royal Caribbean," and the name itself gives the individual a specific set of thoughts. The company must conduct its marketing strategy in such a way that this happens because "These attitudes are used in interpreting and evaluating specific brands and manifest themselves through consumers purchase behaviours" (Luczak, et al
The cruise line offers different advertisement packages depending on the time of year and the major preferences of their audience. They also have a large presence on the internet that assists them in this undertaking (Mulholland & Cachon, 2009)
Attitude accessibility says primarily says one thing about Royal Caribbean; they are a company that pampers its patrons with amenities and well-traveled destinations. But, to keep from losing overall market share, the company needs to make sure that they are constantly upgrading their services (Petty, Wegener & Fabrigar, 1997)
This report will detail how branding is affected by customer attitude accessibility, and how Royal Caribbean has used this concept to make sure that their product receives the most value from recognisability and public perception of the name. Topic Importance Marketing a product is one of the primary determinants of whether it will succeed in the industry or not (Srinivasan, 2009)
, 1993). Competitive advantage is sustained when other firms are unable to easily duplicate the benefits of this strategy (Barney, 1991)
, 1993). Competitive advantage is sustained when other firms are unable to easily duplicate the benefits of this strategy (Barney, 1991)