Swatch is one of the most successful brands of the Swatch Group. Its first line of plastic quartz analog line was launched in 1983, and went to become a global phenomenon. It is a cost effective, classic wristwatch, produced in endless bright, appealing designs, and even became a cult collectors' item.
Swatch has enjoyed this success due to its innovative design and quality, with a perfect marketing strategy for its target audience. It is a hot collectable fashion accessory, which could be attached to clothes and also wore as a ponytail band.
However, due to the recent economic downturn coupled with changing taste and culture of the target market, most of the wrist watch companies have been hit hard including the parent company Swatch Group.
SWATCH as a brand has been performing well in these changing environment. But in order to stay ahead of this aggressive market, SWATCH has to work on its R&D with a combination of new marketing strategies.
This is an academically oriented report aimed at recommending a more innovative strategy for ‘SWATCH’. This could enable them to improve their brand identity, which may help them to survive amongst intense competition and improve the revenue of its parent company
The Global watch market reached US$31.5 Billion in 2010. (Global Industry Analysts, Inc)
Spending on valuable and collectibles has gone upward due to increase in disposable income....