Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 48 , 01 December 2023
Open
Access | Article
Analysis of Jaquet Droz's Marketing Strategy and Recommendations
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Abstract
The study provides an in-depth analysis of the Swiss watchmaker Jaquet Droz's marketing strategy and suggests improvements. The study begins by describing the history and reputation of Jaquet Droz, noting its excellence in mechanical precision and artistic creation. However, Jaquet Droz faces stiff competition from smartwatches and competing brands and the challenge of raising brand awareness. The study suggests that Jaquet Droz highlight the uniqueness of its craftsmanship and materials, positioning the watch as a luxury accessory rather than just a time tool, while emphasizing the brand's historical heritage and unique values. In addition, the study mentions the radical strategic shift adopted by the new CEO to focus on unique artistic and personalized products, abandoning retailer partnerships and selling directly to target customer groups through commercial ambassadors. The study concludes by mentioning that other brands such as Vacheron Constantin market themselves through a combination of online and offline approaches, and suggests that Jaquet Droz learn from this model.
Keywords
Jaquet Droz, luxury watch, smart watch, marketing skills
References
1. Jaquet Droz official website. (2023). The extraordinary history of Jaquet Droz. The extraordinary history of Jaquet Droz | Jaquet Droz. (n.d.). Retrieved from https://www.jaquet-droz.com/en/the-extraordinary-history-jaquet-droz
2. Deshpande, J. (2015). Pierre Jaquet-Droz, marvel maker: The man behind Today’s Jaquet-Droz Watch Brand. WatchTime. Retrieved from https://www.watchtime.com/featured/pierre-jaquet-droz-marvel-maker-the-man-behind-todays-jaquet-droz-watch-brand/
3. Kim, Shin, D.H. (2015) An Acceptance Model for Smart Watches: Implications for the Adoption of Future Wearable Technology. Internet Research, 25(4), 527–541.
4. Guo, Q.L., Li, X. (2019) Research on the Marketing Strategy of Mechanical Watches in the Context of Internet+ - taking Omega mechanical watches as an example. Research in Finance and Economics Theory (02), 57-66.
5. Twinam. (2022). Trade Competition and migration: Evidence from the quartz crisis. Journal of International Economics, 138, 103653–.
6. Müller, O. (2022). Jaquet Droz’s radical reboot. Europa Star. Retrieved from https://www.europastar.com/the-watch-files/swatch-group/1004093412-jaquet-droz-s-radical-reboot.html
7. Wei, J. (2020) A Study On Digital And Omni-channel Marketing Strategy Of Luxury Industry. East China Normal University.
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9. Besler, C. (2022). The Swiss watch industry returns to pre-pandemic highs; 2021 exports to the U.S. up 55% over 2020. Forbes. Retrieved from https://www.forbes.com/sites/carolbesler/2022/02/26/the-swiss-watch-industry-returns-to-pre-pandemic-highs-2021-exports-to-the-us-up-55-over-2020/
10. Zhao, M. (2011) Exploring the Design Elements of Luxury Online Stores. China Business (18), 107-108.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-143-8
- ISBN (Online)
- 978-1-83558-144-5
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/48/20230411
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited