Transcript
HistoryOmega was founded in 1848 at La Chaux- de-fonds,
Switzerland by Mr. Louis Brandt at the age of 23.In 1880 his 2 sons Louis-Paul & Cesar moved the
company to Bienne Since 1894 company adopted the sole name for all its
watches i.e. “OMEGA”.OMEGA is the last letter of Greek alphabet it means
‘Perfection & success in the attainment of task’.Omega has a merger with Tissot in 1930 & a new
perent company SSIH (societe suisse indrustrie horlogere) was created.
This group eventually grew to over 50 companies including Lanco, Lemania and Hamilton etc.
SSIH became the third largest producers of finished watches and movement in the world.
Through an economic crisis in 1980’s the company merged with ASUAG to create a new company ASUAG-SSIH.
Eventually this pairing fell on hard times and the company was taken over by a private group and renamed SMH.
Today Omega is owned by Swatch group which is the largest producer of finished watches in the world.
Apart from Omega Swatch Group is owned other brands like,
Swatch, Tissot, Rado, Longines, etc.
Luxury Watch Industry
Luxury watch industry is completely dominated by Switzerland which contributes almost 100
percent of market value.
The major exports market includes United States, France, Germany, Italy & United
Kingdom.
Rolex dominates the luxury watch market followed by Tag Heuer, Omega, Cartier,
Bulgari & Longines.
Industry AnalysisHuge capital
requirement & difficult to build a
brand
Strong brand image
- low bargaining
power
Swatch Group is a dominant player in Suppliers market
Duplicate watches /
Cell phones & Digital gadgets
Brand Strategies Today , seven out of ten people throughout the world are familiar with the OMEGA watch
brand.
Most luxury brands will integrate themselves with some projects or activities to set up their
continual image.
Since 1932 Omega watches has been the official timing instrument of Olympics.
When spectators all over the world witness the world record that created by top athletes together in front of televisions , they will see
the Omega mark.
Omega is official timekeeper to NASA. Omega watch became first & only watch brand which
had oncelanded on the moon , so it had created a history.
Besides Omega watch- made technique have been indentified all over the world since then.
Omega watch has
become the watch that wore by James
Bond in 007 series
movies , known as
Bond’s watch.
Cindy Crowford has become the global brand ambassador of Omega watches , because of her
Omega constellation series have become hot product & Omega watch has also opened up the huge
women’s watch market rapidly.
Celebrity Endorsement
Product Strategy
Today omega has a wide range of watches for both men & women it includes,
Omega Seamaster Omega Speedmaster
Omega Constellation Omega De Ville Omega Specialities
Constellation Series Seamaster Series Speedmaster Series
De Ville Series
Specialties Series
Other than watches Omega has other products like,
Jewellery, Leather Goods & Fragrance.
Communication StrategyOmega follows a multiple celebrity
endorsement strategy.The slogan & theme of the actual campaign is
“Choice”.Attributes use for the transfer of image from
the celebrity to the brands are, Beauty Hedonism & Victory
Beauty Hedonism Victory
Omega is active in a lot of different domain with its ambassadors.
Overall 7 different domains for 14 celebrities. It shows that omega is trying to reach every
segment without being involved in one.Among the attributes territories are well defined
such as, show business for beauty, surf & sailing for
hedonism, motor sports and swimming for victory. Golf is used for both for the hedonistic and the victory attributes.
This coherence can may be help the customer to understand the communication better.
The majority of the advertisements picture male young adults. This shows that Omega really tries to increase recognition on this segment. Therefore communication is aimed at youth.
One is a star today and tomorrow is forgotten. Brand is phenomenon that should find its roots in duration, which is pretty much the opposite of fashion. Therefore, omega rightly chooses to use multiple endorsement in order to avoid dependence on the ambassadors and diversify its risk of a bad celebrity away.
THANK YOU
PRESENTED BY
AKSHATA AACHAREKAR-- 01 DEEPAVALI VANKALU--04
NILOFER KHAN--09SIDDHESH PARAB--16
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