Tag Heuer Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: December 24, 2017
Marketing Strategy of Tag Heuer analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Tag Heuer marketing mix, help the brand succeed in the market.
Tag Heuer marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Tag Heuer Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Tag Heuer marketing strategy can be explained as follows:
Tag Heuer is associated with manufacturing, marketing and designing of watches and other accessories. It is the most admired, respected and valued global brand of watches. Tag Heuer has achieved many milestones by building wristwatches of outstanding quality and precision. Starting its journey in 1860, Edouard Heuer patented his first chronograph in 1882 and patented an "oscillating pinion" in 1887 which is still used by major watchmakers. Since then the company is providing new and innovative products. Tag Heuer is known for its extreme, uncompromising and ceaseless features. All the product range in its marketing mix manufactured are made under highly trained professionals and then put under quality test. This unique quality test is being endorsed with a patent from the Federal Institute for Intellectual Property in Switzerland. The products are then tested under high pressure, submarine ultrasound waves and under shock and vibrations. As the watches manufactured by Tag Heuer is used by sportsmen so all these tests make them much more reliable. Tag Heuer offers watches for men, women, sport watches, automatic watches and chronograph watches. Few well known models include Heuer Heritage, Tag Heuer Carrera, Aquaracer, Monaco, Tag Heuer Connected Modular 45, Tag Heuer Formula 1 and Tag Heuer Link.
Tag Heuer Price/Pricing Strategy:
Below is the pricing strategy in Tag Heuer marketing strategy:
From the very beginning the targeted audience for Tag Heuer was always upper class section of the society.
This premium section believes more in luxury, style and high standards rather than the money. The pricing strategy in its marketing mix is called as premium pricing in which the high price of the products signifies the quality and helps in improving the brand identity. The premium pricing has helped the brand to earn good revenues. Wearing Tag Heuer is an honour and customers are willing to pay extra to get associated with this prestige brand.
Following is the distribution strategy in the Tag Heuer marketing mix:
Cortech, Tag Heuer’s owned subsidiary for the past 20 years, manufactures key metal components for TAG Heuer at its factory which is near La Chaux de Fonds. It also maintains a watchmaking workshop in Cornol, Switzerland with 500 staff and watchmakers working worldwide. Currently, Tag Heuer has 170 boutiques spread over 120 countries across the world. The company currently employs 1600 employees and 60% of this is working internationally. Tag Heuer provides 150 customer service points and 5200 collect points. Tag Heuer is extending its distribution network with new flagship store in Avenue des Champs-Elysées. The new retail concept is directly inspired by the brand’s new campaign: “Don’t Crack Under Pressure”. A new website was launched in 2016, which has reached the countries where e-business was not available.
By 2018, Tag Heuer has decided to cover a maximum number of countries around the world.
Tag Heuer Promotion & Advertising Strategy:
The promotional and advertising strategy in the Tag Heuer marketing strategy is as follows:
Tag Heuer invests aggressively on its promotion but always keeps the “luxurious brand” image in the mind. The company has launched advertisements via mass mediums like via electronic and print media in newspapers, magazines, hoardings, television. The company has sponsored and became partners with high profile events like football, F1 team Vodafone McLaren Mercedes and its World Champions etc. All the people associated with TAG Heuer ambassadors perfectly reflect the same taste for challenge and risk. These are the people who have built the legend and share an ability to stand up to pressure, constantly pushing their limits. Celebrities like Lewis Hamilton, Jenson Button, Leonardo DiCaprio, Shah Rukh Khan, Chen Dao Ming and WTA champion Maria Sharapova have endorsed the brand making it global fame. Apart from this, Tag Heuer has its presence on digital media also, via channels on Facebook, Instagram, YouTube, Pinterest and LinkedIn to make its global presence. This completes the marketing mix of Tag Heuer.
About Tag Heuer:
Tag Heuer is a world famous swiss watch brand known for its ultimate class, design and innovations. TAG Heuer came into existence in 1860 by Edouard Heuer when he was just 20 years old.
In 1991, TAG Heuer became the official subsidiary of LVMH Moët Hennessy Louis Vuitton. Since then the brand is growing continuously.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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