This report sets out to examine how Seiko has adapted to the spate of changes in the watch industry. In an attempt to declare the troupes positiveness, Seiko has undergone major restructuring. In particular, the companys merchandise efforts have undergone an overhaul.
Seikos management have looked ahead and determine the higher(prenominal) end markets as the gold mine. However, its current lieu has forced it into the lower end markets. In order to maintain its industry leadership, Seiko has to implement an outpacing strategy and move upscale.
The journey upmarket is fraught with many challenges. Risks such as station dilution and red ink of brand equity are amongst the top evils. In addition, the considerable cost invested in the marketing efforts may not stomach off at all.
In the good scenario, Seiko would success intacty agitate itself into the high end market and earn significantly higher margins.
In the bad scenario, Seikos marketing efforts will get off flat and impose a huge drag on its bottom line. Furthermore, there would be huge opportunity costs associated with the valuable resources used up for Seikos brand repositioning.
among harvesting its low end market cash cattle and venturing upmarket into the high end market stars, Seiko is caught between a rock and a hard place.
However, if Seiko can manage its brand repositioning process well, it will significantly improve its profitability and gain higher market share. This will put it in good stead to dominate the watch industry for the next couple of years.
2.The Watch Industry
The watch industry goes back a long way and has its roots in the manufacture of clocks. In time, people desired a timekeeping device they could bring with them which lead to the creation of the pocket watch. It was not long before the wrist watch was created and it is still the mainstay timekeeping device today.
Although the product has stayed pretty oft the same, consumer buying patterns have changed.
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