Piaget's Brand and Competitive Analysis Essay Example | Topics and Well Written Essays - 2500 words

Piagets Brand and Competitive Analysis - Essay ExampleHowever, the brand decided to aggrandize by diversifying into jewelry making. They increased their expertise in gold by acquiring various gold work-shops throughout Geneva.1990x-Now During this period Piaget introduced various top-notch watches such as, Tanagra, ignore Protocole and 600P tourbillon caliber watches. During this period it also expanded by opening up production facilities in other cities of Switzerland. It also celebrated its 130th anniversary in the year 2004. In 2008, it was rated as the sixth largest luxury brand.As far as the future plans of the company atomic number 18 concerned, it wants to enrich and further master the stratagem of watch making and jewelry manufacturing. It strengthens its faith in providing high-quality luxury items to its customers by increasing their know-how in watches and jewelry. (The Watch Quote, 2009)As far as the target grocery store of Piaget is concerned, it serves to only a sm all foodstuff. The reason behind serving such a small market is that most of these watches are manually produced and are not produced in bulk so that they do not lose prestige associated with them. As a result, Piaget is content serving a small market, a market which includes rich people and those who can afford the expensive prices that are commanded by Piaget.Looking at the abovPiaget is very much aware of Synergy effect and thats wherefore all the component parts of its watches are produced by the firm itself and Piaget believes in using top-quality material for all its watches. BRANDS CLASSIFICATION GRAPHS1) Feminity vs. MasculinitySPORTS vs. Refinementcustom Vs. CreativityWatch vs. JewelryBATTLE OF THE BRANDS (COMPETITIVE ANALYSIS) Looking at the above graphical analysis, one can easily say that the five closest competitors for Piaget are Cartier, Baume and Mercier, Richard Mille, IWC and Rolex. These firms are providing competition to Piaget by offering the same level of ser vice and producing good which are close to the products that Piaget is producing, Similarly, Piaget is also affected by the pricing and advertisement decision of these firms and there is a mutual interdependence between these firms. Starting from the type of market these companies lets compare and contrast these companies from Paigets strategy. Most of