On the watchmaking market, consumer segmentation is
characterized by 4 criteria:
- Age
- Gender
- Price
- Lifestyle
For
the both brands (Ice Watch and Swatch), there are just two criteria to take in
account to define the customer profile: lifestyle and price. We will make a
comparison between both profiles.
Consumer profile Ice WATCH
Ice Watch is positioned as an intercultural and
intergenerational brand; therefore, the brand targets every generation, adults and
young people. But majority of Ice watch consumers are young people (12-25 years
old) and adults (25-35 years old).
The consumers are much diversified, indeed women, like
men, like kids wear these watches. The style of the watches is unisex.
Price
The consumers look for fashion accessory with good
quality (high tech) that is accessible. They want to be stylish without spend
huge amount. The Ice Watch watches answer to this preference with affordable prices
for every purse. It allows to customers to collect Ice Watch watches.
Lifestyle
The consumers are urban people, most of the time with
a busy lifestyle that are interested in fashion, novelties and they like change.
The added value of Ice Watch watches, is that they adapt it to every lifestyle (business,
sport, nightlife…). Consumers need a watch that is adaptable for all daily
activities, all seasons.
Their motivations and emotions for buying Ice Watch watches:
- Fashion, fun, original and inter-generational accessories at a reasonable price
- Quality colorful watches adaptable to every moment of day and to every activity (sport, business, night…).
- Possibility to customize their style with accessories reflecting their personalities.
- Desire to be different from others people. For some consumers, wearing an Ice Watch give them confidence and the feeling to be special and close to famous people.
In the fashion world, as we
already mentioned celebrities play
a key role because they constitute a reference group and thus one of major
influencers in the consumer behavior. Ice Watch well understood that by basing
its marketing on product placement and celebrities.
Consumer profile Swatch
Price
In term of price, Swatch watches are on the same
market segment than Ice Watch, the mass consumption segment (prices inferior to
299€). The consumers don’t want to spend lot of money in accessories, but
insist to get watch of quality and look for trendy products. The watches are enough
accessible to collect them.
Lifestyle
The brand Swatch is a lifestyle. People who wear
Swatch watch share the same values of the brand: simplicity, fun and quality. Consumers
of the brand are urban people who get easy-going lifestyle. For them, it is
important to wear accessories that reflect their lifestyle and their
personality.
Their motivations and emotions for buying Swatch watches:
- Light watches that are at the same time comfortable, fun, classical and trendy (colorful).
- Watches with an excellent quality at an affordable price.
- They love and buy Swatch watches because they remind some memories of their childhood. The consumers wear Swatch when they were young, it was the brand watch they had during all their childhood. That’s why they feel very close to the brand and continue to wear it. It is a real love affair (Lovemark).
To conclude, we can observe that Ice Watch consumers
haven’t the same motivations than Swatch consumers. The “Ice Watches” are more
motivated by the fashion side whereas the “Swatches” are more in the emotional
and affective side than the fashion one.
CG.
Source :
http://www.lovemarks.com/index.php?pageID=20015&lovemarkid=100
http://www.belgianspirit.be/files/PressInformationFR_BelgianSpirit_-_IceWatch.pdf
http://www.guido.be/fr/JobsStages/ArticleDetail/tabid/173/ArticleId/4894/Default.aspx
Market study from Xerfi on World Watchmakers -
2012-2017 trends
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