Description
SWOT ANALYSIS OF PATEK PHILIPPE
Patek Philippe
Parent Company
Patek Philippe & Co.
Category
Watches and Accessories
Sector
Lifestyle and Retail
Tagline/ Slogan
Something truly precious holds its beauty forever
USP
High precision and high quality watches with traditional designs STP
Segment
Luxury watches segment
Target Group
High Income Men and women
Positioning
Watches to pass on for generations SWOT Analysis 1. Established in 1851, the brand is associated with history, tradition and values 2. Due to its history, it has developed a reputation of being a trusted and reputed brand that makes high precision traditional watches 3. The brand has several patents registered under its name since 1851 4. The brand is extremely popular with the watch collectors worldwide. The brand recall is high and the brand positioning is clear
Strength
5. Strong brand presence and legacy
1. There are only three Patek Philippe Salons worldwide in Geneva, London and Paris. This can be a major drawback for the brand 2. The brand has limited presence across the developing economies Weakness where there has been high growth in luxury product purchases
1. The watches can experience high growth in economies that are developing that have seen high growth in the luxury segment 2. The products under the brand as well as their production are limited. Since demand is more than the supply, the brand can expand Opportunity its product range and numbers
1. The brand poses a threat from counterfeit products that can take away its property of being rare. 2. Brand recall and brand presence as compared to the competitors is low leading to non-watch collectors to move to the competing brands 3. More and more people are choosing their cellphones as a substitute to watches Threats 4. Fake makes carrying the same brand name selling in Black Markets Competition 1. GreubelForsey 2. Rolex Competitors 3. TagHeuer
doc_496731867.docx
SWOT ANALYSIS OF PATEK PHILIPPE
Patek Philippe
Parent Company
Patek Philippe & Co.
Category
Watches and Accessories
Sector
Lifestyle and Retail
Tagline/ Slogan
Something truly precious holds its beauty forever
USP
High precision and high quality watches with traditional designs STP
Segment
Luxury watches segment
Target Group
High Income Men and women
Positioning
Watches to pass on for generations SWOT Analysis 1. Established in 1851, the brand is associated with history, tradition and values 2. Due to its history, it has developed a reputation of being a trusted and reputed brand that makes high precision traditional watches 3. The brand has several patents registered under its name since 1851 4. The brand is extremely popular with the watch collectors worldwide. The brand recall is high and the brand positioning is clear
Strength
5. Strong brand presence and legacy
1. There are only three Patek Philippe Salons worldwide in Geneva, London and Paris. This can be a major drawback for the brand 2. The brand has limited presence across the developing economies Weakness where there has been high growth in luxury product purchases
1. The watches can experience high growth in economies that are developing that have seen high growth in the luxury segment 2. The products under the brand as well as their production are limited. Since demand is more than the supply, the brand can expand Opportunity its product range and numbers
1. The brand poses a threat from counterfeit products that can take away its property of being rare. 2. Brand recall and brand presence as compared to the competitors is low leading to non-watch collectors to move to the competing brands 3. More and more people are choosing their cellphones as a substitute to watches Threats 4. Fake makes carrying the same brand name selling in Black Markets Competition 1. GreubelForsey 2. Rolex Competitors 3. TagHeuer
doc_496731867.docx