* A Luxury watch by creation is Hublot. It is created by Swiss enterprise and is launched in 1980. There was history in making of Hublot. Carlo Crocco a scion of the Italian Binda Group also very well known for his breil watch making, in 1976 decided to leave the company and star his own company. Hublot was then created which was named after a French word “porthole”. It was in Hublot where history of watch making took place where they created a watch with a natural rubber strap. Initially Hublot didn’t make any impression but soon it got commercial success in excess of $2m in the 1st year. * Not all common people will want to but an expensive luxury watch like Hublot watches. But there are customers to target who will buy luxury watches. They must predict and analyze to what customers would want to have and which design will be in trend and also giving out at a good price where its competitors won’t reach them. Certain things also must be kept in mind such as 4P’s Price, Product, Promotion and Place. They are very important in the present day to compete and stay in the market. What’s more astonishing is Hublot being such an infant in the watch making company is still making a great profit and success while simultaneously competing with the big companies like Swiss giants. (Bernard watch website)
* Hublot targets men and women who have interest in new styles and designs and those people who want to add something new to their personal collection as it creates all new luxurious designs which are so unique in such a way that everyone would desire to have one. * Hublot was a new brand in creation and was coming up with unique designs in the market. From the very beginning Hublot was a brand which was named as the luxury brand and so was expensive from the time of its creation. It targeted only small population. * Hublot mainly targeted only those customers who belonged to the luxury sector or "elite" class, people who were extremely rich and had good economic or social status. Who have the caliber and money to spend on luxury or branded material. * There was a time where Hublot went down in the market but with the help of Jean Claude Biver Hublot got another chance to prove itself. It was then in Geneva watch making Grand prix in 2005 Hublot won the competition with its ground breaking design and it has won so many hearts of the customers that the customers were ready to wait for 9 months for the next release of Hublot. (Forbes website)
AWARENESS TARGETING RETENTION ACQUISITION
There are four types of market in today’s world but as Hublot is a brand it is following Niche Market also known as Target marketing, which is branding driven market and mainly concentrates on the elite class people. It also does positioning and branding, competitive analysis and market segmentation. They are mainly concentrating on target market and are widely doing branding and positioning in America. They have a very big market in USA and the president of Hublot has said that USA is really strong market to them. They have market in Asia as well but uncertain on how it will perform and Hublot is doing well and has feet in china and it surroundings as well. (Luxist website)
COMPETITORS AND PRICING:
* Hublot as a luxury brand has many competitors its main competitors are Rolex, Audemars Piguet, Xemex, Breitling, Ebel, Patek Phillippe and Ulysse Nardin, but one major competitor for Hublot in USA is another Swiss brand which is Audemars Piguet. They have a tough competition between each other. This battle is not known publicly but they have rivalry between them and always try to better each other in terms of design and performance. Competition in fact is good at times as it helps the companies to improve and update themselves with new ideas coming up in the current...
References: 1. http://www.hublot.com/en_US/
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