Swot Analysis Of Omega Watches

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• Brand Analysis Omega, part of the Swatch Group (founded in 1983), is a Swiss luxury watchmaker founded in the early 1900’s. Omega watches have been around for decades and have been part of history by being the first watch on the moon, associated with the iconic James Bond movies & sports sponsorship as seen at the Olympics in 2006, 2008, 2010 etc. and worn by Michal Phelps, a brand ambassador along with Cindy Crawford, Nicole Kidman and Buzz Aldrin. Omega offers a wide variety of watches, which stand out for its technology when it comes to manufacturing, which has helped them achieve the reputation they have today: great quality, elegant, lifetime pieces to pass on for generations that won’t lose its essence. They segment a wider audience…show more content…
With this being said, their products biggest attribution lies on the design and technology behind the watch; adding value to the watch & with this comes a reputation based on the performance of the products throughout the years, in which they have succeeded and keep on innovating to the latest technology to stay on top of their designs. Price: “In Geneva, every banker or lawyer has a Rolex because that’s what you buy once you’ve made it. You almost have to buy it. It’s a rational purchase with an incredible social value.” Additionally, Rolex wearers pointed at the high resale value of their watches, describing them as an investment” (The Swatch Group, p. 12). Omega offers a wide range of prices, and versus their competitor Rolex, the cheapest Rolex watch costs 60% more than the cheapest Omega watch. Therefore, their products are less exclusive to say in comparison to their competitors but this doesn’t compromise value and/or quality.…show more content…
Also, over 10,000 retailers count with Omega products for their clients, like airports and department stores. • Future Positioning The Swatch Group has a high ranking in watchmaking industry, a worldwide market and over 50 years of experience in the industry. In order to keep this going on the future, I would suggest Omega to keep on finding brand ambassadors with a young, fresh and empowering personality to represent their watches and gain more recognition not only for their technology and impeccable designs, but for the brand image. Recently, Omega has Kaia & Presley Gerber, Cindy Crawford’s son and daughter which followed the mother’s footsteps. Kaia and Presley, by being young & fresh faces and are important people in the fashion industry as brand ambassadors give Omega a pedestal on the American market (which they need to work on). This speaks on the tradition of the brand still remains and how their products go for generations, but they should also give it a ‘trendier’ vibe by associating with other celebrities in order to draw in customers who think Omega’s prices are not accessible or simply never felt attracted to the brand itself due to lack of advertising or

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