Veronika Hesová Róbert Kováčik Václav Outrata. 1.Introduction 2.History 3.Products and Services...
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Transcript of Veronika Hesová Róbert Kováčik Václav Outrata. 1.Introduction 2.History 3.Products and Services...
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Veronika HesováRóbert KováčikVáclav Outrata
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1. Introduction
2. History
3. Products and Services
4. Main Competitors
5. Main Consumers
6. Competitive Advantages
7. SWOT Analysis of PRIM Watches
8. PEST – Market Analysis
9. Foreign Market Expansion
Content
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• ELTON hodinářská, a.s. is the manufacturer of traditional PRIM brand czech watches
• Established in 1949
• Seat of the company: Nové Město nad Metují
• Since 1949, the watch factory has produced 14 million PRIM wristwatches
• The capacity of annual production varies from 3000 to 5000 wristwatches
Introduction
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• Market share: app. 2 %
• The main export markets are United Kingdom and United States
• Nowadays, the PRIM brand is considered as the family silver of the Czech Republic
• Today, ELTON hodinářská, a.s. is one of the few watchmaking factories in the world, which are able to manufacture mechanical watches using their own parts
Introduction
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• Gustav Becker’s company established a branch in Broumov to manufacture clocks. In 1889
• In 1930 it was bought out by Junghans company.
• 1948 - it became part of the Chronotechna national enterprise
• A branch of the Chronotechna national enterprise was opened in Nové Město nad Metují in 1949
• Commissioned with introduction of production of Czech wristwatches.
History
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• Original products were sold under the Spartak brand, until 1958.
• Since 1958, the products of the national enterprise Chronotechna were presented under the PRIM brand.
• 1969 - Branch of Chronotechna in Nové Město nad Metují became an independent enterprise. It‘s name is Elton hodinářská.
History
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• Different way of production than in the past
• The company is focused on short-run production or almost unit production
• The majority of production is constituted by the luxury products:• Standard collections• Exclusive limited series• Custom-built wristwatches
Products & Services
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The most used materials:• Stainless steel• Damascus steel• Carat gold • Platinum
The range of goods:• Retro style• Classic• Sports• Style•Wristwatches for extreme load
Products & Services
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DIPLOMAT Series
Diplomat 40 C Diplomat 34 C
Diplomat 40 C – the limited edition OG London 2012
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PAVOUK Series
Pavouk 40 C Pavouk 40 C
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SPARTAK Series
SPARTAK 40
SPARTAK 40
SPARTAK 40
SPARTAK 43
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LINEA Series
Adam 40 Linea 36 Linea 36Kupka 40
Linea 40 Svatováclavské 36Svatováclavské 40
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ELEGANT Series
Elegant 39 C Elegant 39 C
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SPORT Series
IGEN 38 IGEN 38 IGEN 45 ORLÍK II – C
IGEN 45 – the limitededition OG London 2012
ORLÍK II – V RIDER II 52 TIGER 45
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SPORT Series
Angels of Viktoria – the limited edition for football players FC Viktoria Plzeň
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ARTEAU Series
Bea 41 Q
Bea 41 Q
Coupé R 40 Coupé R 40Cylinder 40
Lorelei II 24 Sphere 40 Sphere 40
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SPECIALS Series
Tycho Brahe II Tycho Brahe II
Beata 36 (Q) Caerus
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1. Customization
2. Unit production of the wristwatches according to individual specialization
3. The program of lifelong assistance
Services
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• Swatch group – Tissot, Omega, Certina, Breguet, Glasshutte
• Richemont heritage - Vacheron Constantin, Jaeger – Le Coultre, IWC, A. Lange & Söhne;
• Rolex – symbol of luxury, Arnold Swarzenegger
• Audemars Piguet – Tom Cruise
• Patek Philippe – Vladimir Putin
• Small manufactures which made only 100 watches per year
Main Competitors
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• higher income group (businessmen,
politicians, managers…)
• companies (gifts for business partners, loyal
employees…)
• unique gift for family relatives
• watch collectors
Main consumers
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• The main competitive advantage is the offer of wristwatches together with range of services
• Difference from competition:• Price Policy• Promotion• Distribution• Services
• The strategy is valid for more luxurious watches
Competitive advantages
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SWOT Analysis of PRIM WatchesStrongpoints:• purely Czech brand• all components come from
Nové Město nad Metují• unique services• long history
Weaknesses:• low brand awareness• lot of foreign competitors• long waiting time for a unique
model• old fashioned design?
Oportunities:• rising popularity of Czech
brands• rising demand for
mechanical watches• cooperation with Czech
celebrities when promoting the brand
Threats:• narrow target segment• possibility of plagiarism
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PEST - Market Analysis
P
• stable political environment• support of czech brands
E
• economic recession affects Czech companies
• higher value added taxes
S
• influence of demographics is very low• only 60 permanent employees
T
• mechanical technology• all components from Nové Město nad
Metují
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• Apart from the mentioned foreign territories, focus on geographically and historically closer countries that are aware of Czech quality manufacturing – Slovakia, Poland, Ukraine
• Use the high-end immigrant sector of population to spread further their awareness about Czech luxury goods – Russia
• Endorsing through succesful representatives of Czech business, sport, culture etc. abroad – Conferences, major sporting events
• Multi-lingual e-shop, search engine optimalization, connection to foreign equivalents of heureka.cz or zbozi.cz
Foreign market expansion
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• Advantages:• Geographical proximity – simpler logistics• Traditional brand• Connected population, cultural similarities
• Build on the existing brand legacy
• Highlight the status of regionally produced luxury goods
• Use their sentimental value
Central/Eastern Europe
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• „Natural viral marketing“
• Marketing the highest valued pieces to the most demanding Russian clientele in ČR
• Meeting their expectations communication channel to the East
• Strong emphasis on premium material, custom manufacture and above standard services
• Possible logistic difficulties
• Need of an exclusive sales representative
Russia
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International presentation
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• Necessity of an e-shop and effective internet placement in the targeted regions
• Presentation of a luxury brand appretiated by the elites as a symbol of technical excelence to be proud of globally
• Main goal – establishing PRIM as a well-renowned and proven manufacturer on its way conquer the european (global) market of scarce technological and designer wonders
Electronic efforts
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• Highly competitive market requires thorough risk management
• Major risk limiter – DIVERSIFICATION
• Just as the nature of PRIM production, designated export territories should cover a wide range of demanding and solvent customers in such regions
„So, what exactly is THE strategy?“
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Thank you for your attention