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Veronika Hesová Róbert Kováčik Václav Outrata

Veronika Hesová Róbert Kováčik Václav Outrata. Content. Introduction History Products and Services Main Competitors Main Consumers Competitive Advantages SWOT Analysis of PRIM Watches PEST – Market Analysis Foreign Market Expansion. Introduction.

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Veronika Hesová Róbert Kováčik Václav Outrata

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  1. Veronika Hesová Róbert Kováčik Václav Outrata

  2. Content • Introduction • History • Products and Services • Main Competitors • Main Consumers • Competitive Advantages • SWOT Analysis of PRIM Watches • PEST – Market Analysis • Foreign Market Expansion

  3. Introduction • ELTON hodinářská, a.s.isthe manufacturer of traditional PRIM brand czech watches • Established in 1949 • Seat ofthecompany:NovéMěstonadMetují • Since1949, the watch factory has produced 14 million PRIM wristwatches • The capacity of annual production variesfrom 3000 to 5000 wristwatches

  4. Introduction • Market share: app. 2 % • The main export markets are United Kingdomand United States • Nowadays, thePRIM brandisconsideredas the family silver of the Czech Republic • Today, ELTON hodinářská, a.s. is one of the few watchmaking factories in the world, which are able to manufacture mechanical watches using their own parts

  5. History • Gustav Becker’s companyestablished a branch in Broumov to manufacture clocks. In 1889 • In 1930 itwasboughtout by Junghanscompany. • 1948 - itbecame part ofthe Chronotechna national enterprise • A branch of the Chronotechna national enterprise was opened in NovéMěstonadMetují in 1949 • Commissionedwith introduction of production of Czech wristwatches.

  6. History • Original products were sold under the Spartak brand, until 1958. • Since1958, theproductsofthenationalenterprise Chronotechna werepresentedunderthe PRIM brand. • 1969 - Branchof Chronotechna in Nové Město nad Metují becamean independent enterprise. It‘snameisElton hodinářská.

  7. Products & Services • Differentwayofproductionthan in thepast • Thecompanyisfocused on short-run productionoralmostunitproduction • The majority of production is constituted bythe luxury products: • Standard collections • Exclusive limited series • Custom-builtwristwatches

  8. Products & Services The most usedmaterials: • Stainlesssteel • Damascussteel • Caratgold • Platinum Therangeofgoods: • Retro style • Classic • Sports • Style • Wristwatchesforextremeload

  9. DIPLOMAT Series Diplomat 34 C Diplomat 40 C Diplomat 40 C – the limited edition OG London 2012

  10. PAVOUK Series Pavouk 40 C Pavouk 40 C

  11. SPARTAK Series SPARTAK 40 SPARTAK 40 SPARTAK 40 SPARTAK 43

  12. LINEA Series Kupka 40 Adam 40 Linea 36 Linea 36 Linea 40 Svatováclavské 36 Svatováclavské 40

  13. ELEGANT Series Elegant 39 C Elegant 39 C

  14. SPORT Series IGEN 38 IGEN 38 IGEN 45 ORLÍK II – C TIGER 45 ORLÍK II – V IGEN 45 – the limited edition OG London 2012 RIDER II 52

  15. SPORT Series Angels of Viktoria – the limited edition for football players FC Viktoria Plzeň

  16. ARTEAU Series Cylinder 40 Coupé R 40 Bea 41 Q Coupé R 40 Lorelei II 24 Sphere 40 Sphere 40 Bea 41 Q

  17. SPECIALS Series Tycho Brahe II Tycho Brahe II Caerus Beata 36 (Q)

  18. Services • Customization • Unit productionofthewristwatchesaccording to individualspecialization • The program oflifelongassistance

  19. Main Competitors • Swatchgroup – Tissot, Omega, Certina, Breguet, Glasshutte • Richemontheritage - Vacheron Constantin, Jaeger – Le Coultre, IWC, A. Lange & Söhne; • Rolex – symbol ofluxury, Arnold Swarzenegger • AudemarsPiguet – Tom Cruise • Patek Philippe – Vladimir Putin • Smallmanufactureswhich made only 100 watches per year

  20. Main consumers • higherincomegroup (businessmen, politicians, managers…) • companies (giftsfor business partners, loyalemployees…) • uniquegiftforfamilyrelatives • watchcollectors

  21. Competitive advantages • The main competitive advantage is theoffer of wristwatches together with range of services • Differencefromcompetition: • PricePolicy • Promotion • Distribution • Services • The strategy is valid for more luxuriouswatches

  22. SWOT Analysis of PRIM Watches • Strongpoints: • purely Czech brand • all components comefrom Nové Město nad Metují • uniqueservices • long history • Weaknesses: • lowbrandawareness • lot offoreigncompetitors • long waiting time for a unique model • oldfashioned design? • Threats: • narrowtarget segment • possibilityofplagiarism • Oportunities: • rising popularity of Czech brands • risingdemandformechanicalwatches • cooperation with Czech celebritieswhen promoting the brand

  23. PEST - Market Analysis

  24. Foreign market expansion • Apartfromthementionedforeignterritories, focus on geographically and historicallyclosercountriesthat are awareofCzechqualitymanufacturing – Slovakia, Poland, Ukraine • Usethehigh-endimmigrantsectorofpopulation to spreadfurthertheirawarenessaboutCzechluxurygoods – Russia • EndorsingthroughsuccesfulrepresentativesofCzechbusiness, sport, cultureetc. abroad – Conferences, major sportingevents • Multi-linguale-shop, searchengineoptimalization, connection to foreignequivalentsofheureka.cz or zbozi.cz

  25. Central/Eastern Europe • Advantages: • Geographicalproximity – simplerlogistics • Traditionalbrand • Connectedpopulation, culturalsimilarities • Build on theexistingbrandlegacy • Highlightthe status ofregionallyproducedluxurygoods • Usetheirsentimentalvalue

  26. Russia • „Naturalviral marketing“ • Marketing thehighestvaluedpieces to the most demandingRussianclientele in ČR • Meetingtheirexpectationscommunicationchannel to theEast • Strongemphasis on premiummaterial, custommanufacture and abovestandardservices • Possiblelogisticdifficulties • Needofanexclusivesalesrepresentative

  27. Internationalpresentation

  28. Electronicefforts • Necessityofane-shop and effective internet placement in thetargetedregions • Presentationof a luxurybrandappretiated by theelitesas a symbol oftechnicalexcelence to beproudofglobally • Main goal – establishing PRIM asa well-renowned and provenmanufacturer on itswayconquertheeuropean (global) marketofscarcetechnological and designerwonders

  29. „So, whatexactlyis THE strategy?“ • Highlycompetitivemarketrequiresthorough risk management • Major risk limiter – DIVERSIFICATION • Just asthenatureof PRIM production, designated export territoriesshouldcover a widerangeofdemanding and solventcustomers in suchregions

  30. Thank you for your attention

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