Piaget SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 3445
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SWOT Analysis of Piaget with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Piaget S.A

Parent Company

Richemont group

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

Blooming your life

USP

Artistic and delicately crafted watches adorned with precious stones

STP

Segment

Luxury watches and jewellery segment

Target Group

High Income group women

Positioning

Delicate luxury watches that are not just watches, but also Jewellery

SWOT Analysis

Strengths

1.Piaget S.A has developed a  reputation of being a watchmaker with watches adorned with precious stones

2. The brand has highly loyal customers

3. The watches form a perfect balance of good artistic looks and superior technology
4. Strong brand reputation and high product quality

Weaknesses

1. Piaget is predominantly perceived  as a jewellery brand and a watchmaker, its competing brands on the other hand are predominantly watch brands

2. The brand presence of the brand is not as strong as its competitors

Opportunities

1. The opportunities in the luxury segment in developing countries are tremendous.

2. The brand can expand its product in unexplored categories to add to its range

Threats

1. Counterfeit products have threatened to tarnish the image of the brand

2. Its competitors that are more established with respect to brand recall and brand awareness pose a threat to the brand

3. More and more people are choosing their cellphones as a substitute to watches

4. Fake makes carrying the same brand name selling in Black Markets

Competition

Competitors

1. Cartier

2. Rolex

3. Omega


The table above concludes the Piaget SWOT analysis along with its marketing strategy and brand parameters.

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