Panerai SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 2267
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SWOT Analysis of Panerai with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Panerai

Parent Company

Richemont group

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

Laboratorio di idee - Laboratory of ideas

USP

Watches with a rich heritage and class

STP

Segment

Luxury watches segment

Target Group

Urban High income men and women

Positioning

Watches with a maritime heriatage

SWOT Analysis

Strengths

1. The prestigious Richemont group that has bought the brand has instilled a certain reputation in the brand making it a premium and fast growing luxury brand

2.Toenhance its Maritime heritage, the brand hassponsored regattas around the world andoffered its own yacht, to charitiessupporting the chronically sick for restorativesailing days.

3. The demand for the Maison’s new andclassic editions has been strong

4. The brands ‘Radiomir’ and ‘Luminor’ series have been extremely popular among the watch collectors

5. Good brand presence and high quality designs

Weaknesses

1. The distribution for the brand is extremely selectivewith only 36 dedicated boutiques around the world

2. The brand has low brand recall among its competitors

3. The brandsassociation with Ferrari did not do very well in the market

Opportunities

1. Developing economies are high growth markets in the luxury segment and the brand should explore this opportunity

2. The brand is predominantly positioned as a men’s brand. An exclusive womens collection can extend the brand TG

Threats

1. High recall competitors pose a threat to the brand

2. Other brands from the same group can camouflage the brand in the groups distribution centres across the world

Competition

Competitors

1. Girard-Perregaux

2. Tag heuer



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