Market research

Patek Philippe & Co. is a Swiss ultra-luxury watch manufacturer founded in 1852, located in Geneva and the Vallée de Joux. It designs and manufactures timepieces and movements including some of the most complicated mechanical watches. It is considered by many experts and aficionados to be one of the most prestigious mainstream watch brands along with Audemars Piguet, Vacheron Constantin, and A. Lange & Söhne.

© Background info on Switzerland

Population -8,183,800 people
Climate - generally temperate, but can vary greatly between the localities, from glacial conditions on the mountaintops to the often pleasant near Mediterranean climate at Switzerland's southern tip
Language - German, French, Italian and Romansh

Political situation - Progressive, stable
Economy - one of the world's most stable economies

© Customers features

1. Rich people tend to buy watches from more respectable brands.

2. People who want to show their status and wealth..

3. People are willing to pay not only for the excellent quality, but also a famous brand.

4. Overall people look for the combination of design and practicality.

Cultural info

1. More practical world views than native Swiss people tend to have.

2. Combined cultures of the Europe.

3. Generally friendly towards foreign cultures.

© Summary

Dear Antoni Patek,

I'm writing in regard to the expansion to the French market. I, on behalf of the research team, would like to point out that it is one of the most friendly markets among all others outside Switzerland, due to closely related cultures. French tends to have one of the most stable political and economical situations in the world, which is always a good sign. We probably should point out the quality and design of our products in the ads, if we are to spread, as french are more practical than our swisses customers. Overall, with small adjustments we should be able to spread at least without any monetary harm, but I'd predict a 19,9% benefit of opening at least two boutique.

Sincerely yours,

Marguerite De Shantal

Date: 2015-01-29; view: 1189