Casio Watches - Market Analysis, Research Methodology and Customers

4312 Words Sep 6th, 2012 18 Pages
CASIO IN LUXARY WATCH INDUSTRY
Market Analysis

The mission of Casio's product development is to create something where there was nothing before - what Casio calls going from "0" to "1." By creating totally original products, Casio strongly believes that they add fun and convenience to daily life and pioneers new cultural trends. "Demand-creating" products, which Casio’s opinion will create markets of their own, produce economic and technological ripple effects. Strategic advantages of Casio in product development are realized by focusing on the following two core areas: 1. Superb product planning driven by accurate assessments of people's needs 2. Superior technologies to make products that meet those needs

Competitive
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The production of exclusive luxury segment involves sophisticated craftsmanship and technologies are usually exclusively based on top-grade mechanical movements and for accessible luxury the technologies used are mainly based on mechanical movements and to a lesser extent quartz movements. Casio positions itself under Mid-priced and low-priced segments.

Brand Positioning: The chart below explains the market positioning of the most important brands in the watch industry. The brands are thought of following five different profiles resulting from their consumer image. The categories are: * Connoisseurs / Specialists * Sport * Fashion * Lifestyle * Jewelry

Casio’s strategy is to focus on lifestyle and sport watches. As Casio doesn’t concentrate on Jewelry, fashion and specialist watches where the luxury brands fall under, Casio will have up-hill battle to compete with leading luxury brands.

The chart is further divided into four regions based on the following three criteria: 1. Price (low price – accessible luxury – exclusive luxury) 2. Type of Movement (mechanical and complication versus quartz) 3. Technology Grade (technical content versus design content)

Casio is seen as technically advanced

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