Fluent Essays

USING THE 4 Ps TO DESIGN A WATCH The assignment is to use the 4 Ps and design a watch. Pick a target market the watch would appeal to, then re-position the watch by changing it so it would appeal to a second market. Describe your decision-making for each element of the mix to reach the first target market, and then do it again to create a completely new offering for the second target market. Use the headings product, price, placement, and promotion for each watch. For example, you should describe: Product—materials, branding, features, etc. Pricing—price point and strategies Place—where and how it would be sold Promotion—what you would do to communicate value to your customers 4 Pages minimum + ReferencesUSING 4PS TO DESIGN A WATCH Originally men are/were renowned for luxurious watches than women, especially when it comes to digital and mechanical categories. Global statistics indicate that the percentage of sales of luxurious watches is about 65\% for men and 35\% for women. Baring/Bearing this in mind, the shift from men to women as the target group is wanting, in an attempt to achieve a balance in demand. Over time, women have assumed great importance of this shift for reasons such as the growth of their population that exceeds that of men.(Read this over out loud, and see how it sounds to you. It seems a bit awkward.) The growth trend is expected to continue growing(You dont need this, its repetive) over the years, with women considered to account for nearly half the worlds total population. Nevertheless, another reason for a shift in the target population is that the average female per capita income shot up by 15.2\% compared to that of the male, which was recorded as 14.8\% by the year 2013. Designing a watch can be guided through three steps: designing online, getting parts, and assembling them. Therefore, this paper highlights the use of how the 4Ps(Identify them here, in parenthesis so the reader knows what youre talking about.) can be used to redesign mens mechanical and digital watches to suit women.  Using the mens wristwatch as the first target group, we are going to use some elements it upholds(Is this the best word here?), and creates an entirely new offering that suits the second target group, which is that of(You dont need this either. Its more impactful if you just say women) women. In the process of designing, the incorporation of the 4Ps is important because it will help us identify the market mix of each brand. Some of the factors that will guide the new brand are: if the newly designed watch will meet consumers needs, where they will find it, how to differentiate the product from the original one, the perceived value of the new watch, and(Remove this) interactions with potential customers (Gerlitz, 2017). It is therefore important to design a new product bearing in mind the market strategy.   Product Using Zelos as the original micro-brand for men, as a brand that is independently well respected and established in the industry, one can then proceed by examining the materials. First, the brand uses a stainless steel meteorite; the spec list is perfect; their catalog entails a unique selection of materials such as bronze cases, dials made from SR-71 blackbird, and Damascus steel bezels, among other quality materials. In redesigning Zelos, the new product can incorporate some features such as customizing the look of the watch to look more attractive and enhance its capabilities to present a superior value. This can be through the integration of Zelos with other software, constructing a robust design made with fine materials like ensuring wristbands appealing to women both in color and matching all tastes and styles