I. EXECUTIVE SUMMARY This integrated marketing communications plan outlines communication tactics that will be used to raise awareness & to introduce Azimuth Watch Company's new range of products to the public. This IMC plan will be used to achieve the marketing ; communications objectives of this plan, as well as address some of the issues ; challenges surrounding the introduction ; success of this new range ; the company by discussing key areas such as brand positioning, pricing strategies ; targeting.
II INTRODUCTION Azzimuth Watch Company strives to provide their customers with timeless pieces hemmed with exquisite ; detailed designs with excellent quality to boot. Since its genssis in 2003, a few product lines have been released but the desired reception was unachieved. Azzimuth Watch Company has to be repositioned ; branded in such a way that potential customers will receive ; understand.
By introducing the target marketing process ; various specific elements of which, such as the identifying of unfulfilled needs, market segmentation, selection of a target market ; positioning, the examination of Azzimuth Watch Company's marketing process can be done properly to identify how else to better its branding effectiveness to eventually obtain the goal of penetrating the market with desired results. As such, Azzimuth can grow into a leading brand for its products, delivering effectively what they have planned. III COMPANY PROFILE
Based in Singapore since 2003, Azzimuth Watch Company has its products manufactured in Geneva, Switzerland. It was founded on the concept to design, manufacture & distribute a wide range of quality wristwatches to complement any individual's selected lifestyle. Tied closely with what an azimuth is, it plays up to the concept in which it is used in many practical applications, such as astronomy, mapping ; navigation. Azzimuth is heavily influenced by science ; how it explains the way almost everything in the world works, ; its aim is to produce wristwatches that are adaptable to different cultures with the irm basis of science ; logic. Azzimuth represents a philosophy of the blending of science ; lifestyle-in many different ways possible. IV. SITUATION ANALYSIS 4. 1 SWOT Analysis Strengths: 1. Only company with unique philosophy of blending science ; lifestyle with timepieces. 2. Products are made in Switzerland. 3. varied offerings to diverse segments with a clear cut positioning 4. international tie-ups with Tommy Hilfiger Weaknesses: 1. Lack of huge media campaign even after 8 years of its launch 2. Higher prices compared to other brands like Swatch or Casio. 3.
Current survey reveal more focus on expansion than quality 4. brand equity is not created Opportunity: 1. Increase in demand for luxury goods in a fast-paced ; advancing country like Singapore 2. Presence of a monopoly, being the first ; only Singapore based luxury watch company in this country. Threats: 1. Premium international watch brands such as Citizen, ; Omega entered in Singapore. 2. Mobile phones acting as substitutes for watches. 3. As Singaporean market is widely open to importations, it will be difficult for local players to maintain a sustainable growth. . Customer satisfaction level below competitors 5. Expansive advertisements ; promotions done by competitors. 4. 2 Competitor Analysis Two such competitors that Azzimuth is facing are Citizen ; Omega. These 2 brands are well known for being a few of the world's largest producers of watches. The Citizen Skyhawk A-T line of watches features Radio Controlled Timekeeping. The watches can synchronize with radio clocks in Japan, North America, and Europe and will automatically select the correct frequency for doing so based upon location of home time zone.
Citizen watches also incorporates the eco-drive technology which means that their watches will never require batteries. Omega also has its reputation for having been NASA's choice of watches ; was also the first watch on the moon in 1969. It has also been the official timekeeping device for the Olympic Games since 1932. A large number of celebrities have also been endorsed by Omega, such as Daniel Craig, George Clooney, Zhang ZIyi ; Cindy Crawford. Both companies also focus on manufacturing timepieces ; have managed to uncover various product ranges with a very wide product line choice.
As such, what these companies have done for themselves grants them the competitive advantage over Azzimuth. 4. 3 Current Marketing What the marketing efforts of Azzimuth Watch Company are lacking of are a stronger character ; identity. Its current advertising efforts consists only of print media on public spaces, such as bus stops, magazines ; newspapers. A few magazines have written print reviews or articles on Azzimuth's products & the danger in such is that magazine publications might place their products next to another competitor's product. By doing so, consumers might tend to compare the products.
The only few publications that have been approached for page space for Azzimuth are Style, 8 Days. I-Weekly ; The Newpaper. The limited amount of advertising space may hinder Azzimuth's original message from being brought across. By having only print advertisements, there is only so much of Azzimuth's message that are revealed to consumers. A good written review might not be as believable if the company's identity & character is not made prominent & consumer awareness is not high. 4. 4 Statement of Problems There are a lot of problems that Azzimuth is facing right now in respect to its marketing communication efforts.
These problems hinder Azzimuth from excelling & becoming the ideal brand that they wish due to the loopholes in their MC efforts. The few such problems are: i) poor brand awareness ii)poor brand identity iii)heavy competition against other established brands iv)poor marketing positioning Due to limited marketing efforts, Azzimuth is not able to raise its brand awareness. The poor placing of the brand (& in advertisements) also hinders potential target consumers from being exposed to their products. The brand itself is then unable to be prominent in the horology industry.
When unable to position itself evidently in the horology industry & in consumer's minds, Azzimuth then fails to achieve its desired goals, driving the company down an negative path. V. Marketing Objectives The few objectives that Azzimuth Watch Company is looking to achieve are as follows: i) Efficiently establishing a strong brand identity in the Singaporean market ii) Increasing brand awareness ii) Introduce new range of products efficiently in Singaporean market iv) Incorporate Corporate Social Responsibility v) Achieve sales of 12,000 units of new range of products within the year 2012
If planned strategically ; marketing communications is utilised effectively, these objectives can be brought about. Current awareness of Azzimuth in Singapore is very low as it is not recognized easily ; consumers do not easily identify with the brand ; its products. When the brand awareness is raised, the amount of sales ; profits will most definitely increase. On top of that, people will be able to recognise the brand, improving its reputation. A strong brand identity also allows for consumers to retain ; deem the brand credible.
If Azzimuth succeeds in sending a strong visual message used throughout all their business ; marketing communications will keep them a step ahead of their competition. Having a consistent visual identity throughout all of their business ; marketing communications will have them at the forefront of existing ; potential consumers' minds when they have a need for Azzimuth's products or services. Stability can also be achieved if Azzimuth successfully develops a functional brand identity as it gives the impression that their business is dedicated to the horology industry that they serve.
Essentially, the main marketing objective is to introduce ; position accurately the new range of Azzimuth products in the local market ; eventually hit a sales figure of 12,000 timepieces in 2012. VI. STRATEGY ; IMPLEMENTATION The contemplated strategy for Azzimuth Watch Company is to put its marketing communications options to the best use by first effectively introducing ; implementing itself into the market, caving its position in the consumers' minds, & finally, its new range of products. 6. 1 Target Audience
By target audience profiling, it will help Azzimuth make better, more consistent costumer decisions about how to best market & sell. It also makes it possible for the staff to treat customers more consistently because everyone is working from the same comprehensive knowledge. When Azzimuth determines its target audience, it can scale their marketing communication efforts thus customise the intended message to their target audience effectively. The prime target audience of Azzimuth are the opulent individuals who afford & prefer to indulge in luxury products as a lifestyle choice.
These individuals include working class females & males with an annual income ranging from S$80, 000 & above. An ideal advertising medium for this target audience would be the internet as these individuals are also busy professionals in their respective fields. Due to their hectic work & social schedules, it is not likely for them to pick up local lifestyle magazines that are catered for the average market. 6. 2 Brand Image & Positioning As a luxury watchmaker, Azzimuth faces intense competition from other established watch brands such as Rolex, Tag Heuer, Swatch etc.
By having a unique brand image, Azzimuth will be able to separate itself from other brand peers, hence establishing itself as a unique section of the market. According to Jay Ehret (2009), brands are not concrete; they are the thoughts, feelings & psychological relationships between a business & a customer, & that a brand is the foundation of all its marketing activities. Branding serves as a internal compass of focus & that if a business is clearly branded, it has an understanding of what it is about. Over time, a stronger business identity will be built.
Azzimuth can adopt the brand image of a 'science ; logic'. Despite close competitors having developed product lines with different motivations & philosophies, Azzimuth can be the first brand that emphasises the simple but fundamental philosophy of how things can be easily explained with science & logic. Rather than just being a simple luxury brand, playing up to this philosophy gives consumers a chance to associate themselves with products derived from intellect. Consumers usually purchase products with their emotions, rather than logically.
With a strong branding image, Azzimuth can position themselves as the distinctive watchmaker that provides consumers with a wide range of luxury products made of high quality with a unique philosophy, setting them apart from other watchmakers in the Singaporean market. 6. 3 New Products Azzimuth's new range of products caters to the pivot in their target consumers, focusing on minimalistic designs, with the motivation being that individuals from all walks of life can opt for a luxurious yet simple timepiece that eludes style. 6. Pricing Stratergy The pricing strategy for Azzimuth's new range of products is Mazimum Market Skimming. In this approach whereby Azzimuth sets a high price for its new high-end product so to obtain maximum revenue from the market before substitute products appear. This pricing strategy is ideal as it complements the luxurious image of the brand as it is unlikely for its target audience to prefer purchasing timepieces that are very lowly priced. The high price will set it apart from its peers by delivering the image of a exceptional product.
VII. Recommended IMC Strategy With proper planning in advertising, consumers will be able to perceive a brand positively. Azzimuth has to take a multi-pronged approach to their advertising methods for its brand name to be rooted in the consumers' minds. The initial strategy is for Azzimuth to establish its brand identity, constitute its brand image ; finally, re-position themselves as a brand of luxury watches that are adaptable to different cultures with the firm basis of science ; logic.
The proposed timeline for the execution of the recommended IMC strategy is 12 months, split into 3 phases. The first 4 months of the strategy will pay close attention to positioning the brand image in the hearts ; minds of consumers ; increasing brand awareness. Starting with a series of print advertisments carefully designed to appeal to their needs ; wants, this first phase's target is to re-position Azzimuth as a brand of timepieces with scientific philosophy & luxurious appeal.
Concertedly with this launch of fresh print advertisements will be the implementation of product testimonials & placements. Celebrities like Beyonce will share their experiences on their preference for Azzimuth's products, while the product will also be placed carefully in the movie series Ocean's Trilogy. Exposure of this product to millions of movie-watchers will ensure ample advertisement for it. The next trimester of the strategy will consist of a next series of print advertisements & TV commercials with similar outdoor print advertisements to follow.
American actor & film producer Adrien Brody, who became the youngest actor to win the Academy Award for Best Actor will be endorsed to portray Azzimuth as "The Ideal Option" for luxurious watches. Also included would be a TV commercial of Brody highlighting his preference for Azzimuth's product range. Similarly, Brody will be featured in an exclusive interview on Azzimuth's official webpage, speaking in-depth on his passion for exclusive luxury watches & the reason behind it & why Azzimuth is his ideal option. Finally, the last phase of this strategy traversing over 4 months ill involve the setting up of a segment on Azzimuth's official website, educating potential watch-buyers on what to look out for in their next purchase. A forum will also be set up separately for Azzimuth watch owners to share their product choices ; opinions. 7. 1 Broadcasting media: Product Placement The Ocean's Trilogy combines well-known elements from heist films & con artist films. Azzimuth will be able to increase its brand awareness by placing its brand in a highly popular movie that is watched by all ages & consumer groups worldwide. . 2 Print Advertising: Print Media Azzimuth is currently only utilising print media efforts in Direct Publicity & technical reviews. On top of the high possibility of its products being placed directly next to a competitor's, these reviews are written from a third-person perspective ; may not be ample for consumers to be convinced to purchase Azzimuth's products. Such reviews do not directly send the intended message to consumers, let alone communicate the brand's identity ; image.
The placement of their reviews are also only in lifestyle magazines that perhaps most established individuals do not peruse as they are used to their lifestyle whereby they peruse luxurious lifestyle magazines. Hence, Azzimuth Watch Company must design ; release a series of print advertisements on the correct portal to allow successful communications with their target audience. Fig 7: Impression of new Azzimuth Print Advertisement The tagline 'Perfect Symmetry' collates ; sends across the message of Azzimuth's intended brand identity & image.
The term 'symmetry' implies Azzimuth's new range of products whereby minimalism takes place heavily. 7. 3 Celebrity Endorsements: Adrien Brody famous people eat, drink, travel, go shopping and generally behave like normal consumers, albeit ones with much greater spending power and the ability to influence the buying decisions of others simply by what they choose to buy for themselves. This aspirational effect, whereby people seek to emulate their favorite celebrities, presents a golden opportunity for brands.
Endorsing a celebrity provides two important things for Azzimuth: Aspiration ; Credibility. In today's competitive marketplace, a perceived celebrity endorsement can give Azzimuth the product or service the instant recognition & legitimacy that would normally take years to earn. Adrien Brody has built a successful reputation for himself by being the youngest winner for an Academy Award for Best Actor & also the only American that has won a french Cesar Award. He has also made his debut as a runway model for Prada. IX. Conclusion
In today's fast-paced environment, companies have to pay special attention to how they communicate with their target consumer groups. Consumers have developed a need for knowledge ; information before a purchase ; this has become a necessary process as consumers desire to know they are making a well-informed purchase. Hence, it is vital to comprehend their target consumer groups completely. With this information, they can integrate a substantial ; suitable IMC plan to help companies branch out to their target audience ; be prepared for any consumer responses.