Corum Marketing (1)(1)

About Corum

Market NeedNow days Customers are very concerned and picky about quality of a product especially luxury or premium products or services.

Corum Company is very cautious on its product offerings so that it will not disappoint the customer and improve the brand name of its Company.

Corum Company is also cautious on its design for every product example what meaning or message it wants to convey to the wearer, or how attractiveness is the criterion for selection for customer and probably create a new function technology.

If you like style with engineering, you will enjoy CORUM

Consumer Behaviour

Intuition and speculation have always suggested that if you sell someone a watch, you create a lifetime customer who will grow in value and buy more expensive watches as they move up in their career.

For the vast majority of people, once they buy their first watch, they maintain the same brand sensibility and price point for the rest of their life.

As a very personal item, a watch defines a person’s image of who they aspire to be.

Once we form a professional image of ourselves, most of us remain loyal to it.

Market Share & Competitors

Market Segmentation

Use of the concentration strategy has helped define Corum as a luxury brand.

Corum focuses on a single market segment-- those who want a luxury watch. Corum has chosen to concentrate on the luxury segment of the watch market.

Allows to focus all efforts on a single segment.Marketing to every watch user in a multi-segment strategy can diminish the brand value.

Target Market

Allows to focus all efforts on a single segment.• Use of the concentration

strategy has helped define Corum as a luxury brand.

Marketing to every watch user in a multi-segment strategy can diminish the brand value.

Corum has chosen to concentrate on the luxury segment of the watch market.

Wealthy consumers that are looking for high quality and exclusivity.

The typical Corum owner is male and above the age of 35, sometimes a celebrity or sports figure.

PositioningCORUM displayed a determination to position itself at the forefront of the Swiss watch industry. The emblem, a key pointing skywards, is a symbol of the mystery to be fathomed, the enigma to be resolved, of new territories to be explored, and of innovation. It also alludes to the inventiveness, tenacity and bold spirit required in order to attain the total mastery of time.

Positioned as an exclusive brand,

CORUM offers high-quality watch collections featuring an innovative and distinctive design

Equipped with sophisticated mechanical movements

.Product (Watches)• Admiral’s

Cup• Golden

Bridges• Artisan

and Vintage

Price• Admiral’s

Cup : 2.5 lakh-16 lakh (43% discount to retailers)

• Golden Bridge : 18 lakhs- 85 lakhs (49 % discount to retailers.

Place (Thirteen POS)• Metro

Cites• Pune• Chandig

arh• Ahmeda

bad• Indore

Promotion• News

Papers• Magazine• Billboards• Events

SWOT• Strong Brand• Extremely High

Quality• Luxury/Status• Patent

movement(Golden Bridge)

• 12 sided case (Admiral's Cup)

• High Cost• Less awareness• Not assessable to all• Watches still not

status for youngsters

• Develop Social Media• Educate people

about luxury• Innovative design• Limited edition

watches

• High end competition• Similar low end

watches• Recession• One lakh cap by govt

Strength Weakness

OpportunityThreats

MARKETING STRATEGYPROMOTION/CAMPAIGN STRATEGYPositioningADVERTISING:TRADITIONAL MEDIAMagazine Advertisements- Corum will place ads in men’s magazines such as Maxim and GQ. Ads will cater to the target market and attempt to educate them on the value of wristwatches as rewards and alternatives to cell phones to tell time.

Billboards- Ads will be placed on billboards in major cities, mainly in affluent areas to hit the target market. Both traditional and digital billboards will be utilized.

Ads at sporting events- Ads will be strategically placed at sporting events that young men attend including, but not limited to, basketball, football and hockey games.

Brand Friend - Corum India now have a new Brand Friend Shikhar Dhawan (Gabber Shingh), earlier Sidharth Maliya, Arjun Rampal, Atul Kasbeker were also there.

Events : Like Carnet in Major cities, new launches, press meet.

SOCIAL MEDIA

Twitter

An official Corum account will be created and verified. This account will be managed by a social media team that will tweet daily to educate the audience as well as respond to comments and concerns of their followers.

Facebook

An official Corum India is already created and monitored by a social media team. Information will be updated on a regular basis and the team will interact with Facebook fans.

YouTube

An official YouTube channel will be established and include videos and advertisements that cater to the target market. Each week there will be a new video that educates users on different features of Corum watches.

ACTION PROGRAM

TRADITIONAL MEDIA New creative will be developed for the campaign advertisements and billboards starting in April 2015. The creative team at the advertising agency will have 3 months to come up with the final direction as approved by marketing and the media will rollout as follows:

Magazine/Billboard advertisements will run starting October 2015 The second phase will run in March 2016.

Ads at sporting events will run starting October 2015 or later depending upon contracts and choices of events.

SOCIAL MEDIATwitterThe new accounts will debut in August 2015 in order to create buzz and prepare for the new campaign.

YouTube The official channel will debut in August 2015 with a preview/teaser of what will be coming soon from the brand. Small elements of the new campaign will be revealed weekly until the full introduction in October. In March 2015, previews of the second campaign will be revealed weekly and fully introduced by April.

Target Sale

Year Sell Out Target

Purchase Marketing Budget

2014 14.8 Crores (INR) Actual

1.1 Million CHF

.22 Million CHF

2015 18 Crores 1.4 Million CHF

.27 Million CHF

2016 22 Crores 1.7 Million CHF

.3 Million CHF

Corum is a push so it need to be supported by Proper marketing. Normally 10% of total sale we do is our marketing budget

So this is the biggest challenge we have with less marketing budget we have achieve our targets.

CONCLUSION

• This marketing plan summarizes the main points of how Corum will market their wristwatches to a younger generation than the current target market. This expansion will allow Corum to move into an untapped area that needs education on the value of a high-quality time piece. In order to properly address this objective, Corum needs to update their marketing strategy to include a greater presence in advertisements that target this younger market as well as a strong showing in the social media realm.

• Corum has a long tradition of creating the standard for luxury in wristwatches. By adding a new segment of the population to their customer base, they will ensure that they continue their standard of excellence.

• Moving forward as technology evolves is key in achieving this goal.

Thank You

Thank You