Swatch Group was founded in 1983 and is based in Switzerland.

Swatch Group was founded in 1983 and is based in Switzerland. To divert attention from the Japanese brands that were taking root in the country, it developed watches that were not only fashionable and functional but also affordable. The company’s strategy to woo customer was accomplished in various ways, they restricted various models to specific areas which served the customers on the road and they developed watches that were not only trendy but functioned s collectibles. Also while maintaining the affordable watches it emerged in quality brands that served the wealthy consumers and to ensure they updated the customers and build a market base they were pictured in publications and created a website that anyone could sign in and jeep to date with their products.

The company’s marketing strategy success has been facilitated by the consumer’s culture in various ways, today everyone has access to the media channels that most brands use as an advertising platform for not only ensuring their customers can access the product from their homes but familiarizes them with the products. Another consumer culture is the need to not only ensure they dress well but also in the new trend, this explains why as the company’s trends diversify so doe their revenue increase. Additionally, it is a fact that more men than women are the target of the watch industry hence the company’s strategy of partnering with the jewelry retail chain is bridging the gap. The need for the people differ across regions and the specific brands with a specific area ensure that the people who can afford the luxurious watches market is to their liking as well as to those people who consider them a secondary need.

The watches industry is a tricky one because only the upper class who do not occupy the largest share in the economy term them as a necessary want, unfortunately, the working class who are the most refer it as a secondary need hence they only purchase one. The future of these companies to be is not only uncertain but risky and while the Swatch Group has its roots in Switzerland the market has big competitors and to ensure its survival it should focus more on affordable watches.