Movado Groups INC; Movado
Movado has existed since 1881, started in a small town in switzerland by a 19 year old entrepreneur and six watch makers. Today Movado is a global company that only employs 1300 people. Their ability to market has obviously evolved to something almost unprecedented by anyone else in their class of business.
The MGI mission has been to formulate a distinct image for each brand it represents since the beginning.
Movado being a brand of the MGI has a similar marketing mission.
Movado has developed its marketing to become the leading company in its industry
- they want to offer products with the best design quality and value in their categories
- striving to have employees, vendors and retailers feel like they are part of the same team
- providing the best possible services to retailers and consumers and recognizing their importance to the company continued success
- constantly striving for excellence by continuously developing their people
- and of course increasing sales and profits from year to year, ensuring the security and growth of their company and providing a reasonable return to shareholders
Reading Chapter 1 provides what determines a companies orientation, the mission statement can even provide come confusion on Movado's orientation is they provide me with a product that I want and feel I need and I will remain a customer because the value they have set on their product matches my value of their product.
Now their shares are sold at reasonably low prices compared to the price their watches sell for, and their last bullet point in their mission is for the shareholders interest, which is a factor in any company that thrives on shareholders.
They can fit in to almost all of the categories of marketing covered in chapter 1, but essentially they have a sales orientation.
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