7friday Case Study Plan
AWC has been facing tremendous competition from their well-established competitors. Under such a competitive landscape, their current marketing strategy has not been productive, resulting in poor branding and a lack of identity for the company.
Resources have to be devoted to re-establish the brand and create a differentiating factor for the company.
Key proposals highlighted in this report would be to bring in a new limited edition launch (“SevenFriday”) with a uniquely Singapore concept to raise brand awareness in Singapore as well as market via cross channel marketing involving largely social media.
The IMC program will incorporate various creative media strategies throughout the span of 18
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2.1 Company History
AWC is a Swiss company founded in May 2012 by Daniel Niederer. The key concept was to combine the efficiency of Japanese movements and Asian manufacturing with the refinement of European design. Designs are inspired by the industrial revolution and challenges traditional watchmaking with their vibrant colors and bold outlook.
Their latest collection (“SevenFriday”) consists of the “P series” and “M series”. The key difference between the series is that the M Series uses discs rather than hand to indicate the time. Even though their brand is Swiss, their watches cannot be termed as “Swiss Made” as they contain Japanese mechanical movements.
2.2 PESTLE Analysis
The assessment of macroeconomic factors is useful for us to identify the threats and opportunities encountering AWC. The factors of the PESTLE model relating predominantly to AWC will be used for this assessment.
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These individuals will exhibit a strong preference towards portraying their individuality and are working professionals that can afford to indulge on a luxury watch.
4.2 New Collection Launch
Growth of the Singapore’s economy was largely driven by our manufacturing industry in the past. The collection will bring forth nostalgia derived from concepts taken in Singapore’s manufacturing and at the same time further strengthen the company’s unique designs that are largely driven by industrialization.
4.3 Pricing and Positioning Strategy
The pricing strategy applicable would be the Maximum Market Skimming. Price will range from SGD1,900 to SGD3,000. This serves to consolidate AWC’s positioning as a high-end luxury watch and at the same time remaining generally affordable to the public.
5.0 RECOMMENDED IMC STRATEGY
To differentiate AWC from its established competitors, the focus would be to highlight the unique concept of the watches of AWC (industrial revolution) and to relate this to a Singaporean identity and origin in the new collection. Advertising channels should be homogenous and executed via multi-pronged approach through online and print media as well as celebrity