The “Traditional and connected watches report’ notes that “multiple high fashion brands are reintroducing several women’s watches in Singapore,” and that the general trend is for Brands to seek and “attract a larger female audience by introducing watches in smaller sizes and traditional feminine colorways.”
Considering Garmin’s MARQ Luxury range of products, suggest a line extension targeted towards women with the intention of competing with traditional luxury watches. Construct a total product concept diagram for your new product.
Provide justification for the new product by addressing the following:
how/why the new product will be appealing to your target market
what value does the product offer to your target market
what opportunity in the category or broader industry does the new product address? For example, what trend it addresses, what opportunity it takes advantage of, etc.
Create a fictional representation of the typical consumer who is likely to purchase the product that you recommended for your line extension in question 1.
Photo of the typical consumer in the segment
A ‘day in the life of how the product category integrates into their life
Motivations relating to the product category
Brands they purchase
What positioning strategy would you recommend for your brand? Provide a rationale for your choice. Write a positioning statement for your brand and illustrate it with a positioning map.
What social media marketing strategy would be appropriate for this product? Why?
If you were to use a social media influencer/s, who would you recommend for promoting this brand in Singapore? Why? What social media platform other than Instagram would you recommend for your recommended influencer? Why?
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