Ch. 4 - The Marketing Environment

-Target Market Movados single demographic for a target market is almost non existent. Most of their appeal to someone like me is their classic and casual style. They also have watches that have a sport appeal to some of my friends. They have joined forces with different public figures like actors and athletes to expand their demographic of consumers. I lead a component lifestyle as stated in this chapter, the stereotype categories that I could fall into are not the types of casual dressed Movado watch wearing young men. I own two Movado watches and both of them have the world renown museum dial but one is a steel band and the other is a leather band. I am a Gen Y consumer but I don't completely fit because I have learned much from the Gen X consumers with how and why I consume. The book says Gen Y consumers are quick shoppers, I look for a quality products I take my time shopping. Movado has made it there business to provide a quality product. Their products fit with most if not all the Gen X, Gen Y and Baby Boomer consumers. A Movado watch is Diverse, and provides fulfillment. I have not seen Movado market specifically to certain ethnic groups with their product creation but they expanded there marketing to asians when they moved into China. The recent recession has affected their profits but they developed a strategic marketing plan to fix it, discussed in the chapter two blog. Inflation works in their favor because more people will be able to afford they're products. They aren't in the top ten most innovative companies in the text book because those companies are in a different business bracket. If they're was a group of businesses in the same bracket like other companies that provided they same type of product, I believe Movado would be the Number 1. Movado's innovation is unmatched. They fill all the categories in the text book, scenarios of opportunities for partners, like Derek Jeter a world class athlete, companies like Hugo Boss and Coach, and other smaller companies. Their website certainly makes me and all I have shown it to want to purchase their watches. Early adopters they have never left the idea of the name "Movado"- Always In Motion. "Innovation pays off big for creative organizations", Movados innovation has never stopped and its paying off!