Swot Analysis Patek Philippe
Brand analysis talks about where a company currently stands in the market and what is the current situation in terms of rivals, products and customers. A brand can be adequately analysed on 5 attributes namely brand uniqueness, trends, analysis of market, positioning against rival brands and concepts of luxury. At a generic level, it can be fairly understood that Patek Philippe strives mostly on brand heritage. Talking about the brand uniqueness, Patek Philippe is probably the only brand of its kind which strengthens the emotional connection of its customers by re-establishing it with their past (Urde at al., 2007). Urde, M., Greyser, S.A. and Balmer, J.M.T. (2007), “Corporate brands with a heritage”, Journal of Brand Management, Vol. 15 …show more content…
The brand has sustained its image for the past two centuries which definitely is a remarkable feat. It focusses on after-sale services and hence, concentrates on building a relationship with its customers which would be carried down generations. This is to ensure the watch will continue to receive the care and attention that will remain as reliable as ever over generations. However, if we talk about the e-commerce market, Patek Philippe refuses to enter into this particular market because it contradicts Patek Philippe’s motive of forging a relationship with its customers through its …show more content…
Over 200 models are in regular production.Each are From their aesthetic motif to contrivance, they have gathered praises by watch fanatics around the world. The meticulous quality level applied to every step of process and in the long run of designing, crafting, and touching up makes each Patek Philippe a precious, unique creation coveted by the connoisseurs.
Value: Patek Philippe commands a high price and will fully retain or even increase its value over the years. PP can last for a long time until the next generations of the owners. Their strong reputation amongst collectors and especially the great sentimental value that it usually acquires in the eyes of its owner make each one a treasured addition to a family 's assets.
Heritage: creating a connection between the past and the future is a one strong Patek Philippe’s vision. As its advertising “You never actually own a Patek Philippe, You merely look after it for the next generations”. Therefore Patek Philippe not only offers a beautiful and high quality watches but also the sentimental values that has been created by the family over generations to make the user feel more in love with its watches that been trusted by its users over generations. Apart from that, Patek Philippe creates its own history that Patek Philippe was the oldest family-owned watchmaker in
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