Situation Analysis, Target Market Identification Report Essay

Situation Analysis, Target Market denomination Report - Essay ExampleThis makes them feel more masculine. This report undertakes a comprehensive count of foodstuffing analysis of the luxury carpus watch line of products. It will provide an opportunity to study invitees psychographic needs. This is very vital information as it provides an opportunity for Swatch mathematical group to develop a computer programme for satisfying customers unique needs. A comprehensive analysis report gives information astir(predicate) challenges and opportunities in this market that can be explored by Swatch Group, through its Omega note, to increase Ladymatics market presence. This also helps the company make adjustments on short and long term marketing initiatives and early(a) promotional activities to ensure company resources are utilized in the most cost effective manner. Introduction Ladymatic wrist watch was first released to the market in 1955. Its sales has had a steady growth through the old age only affected by economic slumps experienced in 1970 and 2008. Increased income levels meant a higher musket ball of its market could afford acquiring this high end device. It was Omega Companys first brand of self-winding devices for the modern lady it is also small and light hence the wearer can easily motivate around having it on. Its visualise was revolutionized after Swatch Group acquired Omega brand in the late 20th century. day-and-night development of this brand as the company responds to consumer needs has led to improved sales. In 2010, the original design was improved by giving it a chic feel to make it more feminine. It was also fitted with a new hand movement with a co-axial escapement. The findings of a market evaluation were that there are several(prenominal) other company brands that pose as a challenge to Omega Ladymatics penetration to other markets at the same time, they are capable of eating into its market. These brands include Chopard, Citizen, Rolex and Guess. Market intelligence This is developed utilise three main sources of information conducting a scrutiny of the companys internal records and other outdoor(a) sources of information to establish a linkage between marketing initiatives and overall brand performance. Secondly, having a study on market intelligence gives information on changes and developments within the market in terms of consumer tastes and preferences that embolden Omega managers plan their marketing drives. Lastly, marketing research is conducted to monitor problems and opportunities within the marketplace this helps in change performance after having an understanding of its characteristics. Swatch Group and other major wrist watch manufacturers have exhausted distribution networks which hinders penetration to new markets. This is according to information received from clients through customer service reports complain about late deliveries. Market penetration is difficult for smaller manufacture rs due to minimal capital might. vast investment in distribution is needed to attract the right expertise and conduct market surveys for a particular market. This however forms a good competitive advantage for bigger industry players like Swatch Group whose Omega brand has remained big on the global scene. The returns on investment (ROI) realised so furthermost has improved its capital base substantially. 1.0 Situational analysis/Current Marketing Mix This gives a brief on both market analysis and