Its about that how hublot can make their brand visible by using some simple tactics and marketing plan
so here my work so it can be helpfull to someone who is working on hublot on their assignement thank you
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1. Executive Summary………………..……………………………………………………………………………………………………………………………..1
2. Mission……………………………………..………………………………………………………………………………………………………………………………..
2
3. SWOT Analysis………………….……….………………………………………………………………………………………………………………………....3-
4
4. Competitor Analysis…………..………………………………………………………………………………………………………………………………….5
5. 4P’s…………………....………………………………………………………………………………………………………………………………………………...7-10
6. Marketing Objectives………………………………………………………………………………………………………………………………………….11
7. Financial Objectives…………………………………………………………………………………………………………………………………………….12
8. Marketing Mix………………………………………………………………………………………………..……………………………………………………...13
9. Digital Marketing Communication Plan………………………………………………………………………………………………………...14
10.Implementation And Control Of Marketing Plan………………………………………………………………………………………...15
11.Social Media Performance Worldwide………………………………………………………………………………………………………17-18
12.Conclusion....................................................................................................................................................................19
Table Of Content
3. Executive Summary
Hublot Watch Company was founded in 1980,
by Carlo Crocco, and the watches were
designed with gold finish, and with use of natural
rubber in the strap. Since, then innovation and
fusion of different arts have become the key
driving force of the company. The company is
renowned brand in the luxury wristwatch
segment. Hublot Big Bang Blue is a limited
edition exclusive collection of 100 splendid
watches. The paper provides an overview of the
marketing plan of Hublot Big Bang Blue
Watches.
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Mission
Hublot Mission Statement is “Be First, Be Different, Be
Unique” .The company follows the mission statement and with
the help of fusion of different arts designs some of the
exclusive and unique collections in the luxury watches
industry.
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SWOT
AnalysisStrengths
Hublot is a luxury watch company and innovation is the biggest strength
of the company. The company designs and manufactures some of the
most exclusive and classic designs, and the limited edition big bang
watches are considered as priced possessions. The company is admired
for the fusion of innovation with precious metals and articles. Hublot has
developed a niche market. A major strength of the company is its
marketing campaigns and associations with the sports events which
increases brand awareness and enhances brand image. A big product
portfolio is one of the biggest strengths of Hublot Big Bang Watches
6. Weaknesses
The company does not have global
visibility, and the operations of the
company are limited to some 40 countries
worldwide. Another major weakness of
Hublot is that, it does not use an
aggressive marketing strategy for
increasing the brand visibility as
compared to other luxury brand watches.
Opportunities
Hublot Big Bang watches have several
opportunities in the emerging
economies, with the increasing as the
developing markets have shown
positive signs for the luxury watch
market. Moreover, Hublot can gain new
markets with increasing virtual visibility
and making its products online.
Moreover, Hublots recent plans of
increasing the luxury boutiques will
provide opportunities for expansion.
Despite stiff competition, there is
absence of monopoly in the luxury
watch market.
Threats
The biggest threat for any business is
competition, and Hublot faces stiff
competition from other brands like Rolex,
Tag Heur, Calvin Klein and others.
Moreover, the fake watch industry that
produces the copies of the luxury
watches and sells them at cheaper prices
is also a threat for Hublot Bi Bang Blue
Watch Company.
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Competitor
Analysis
Hublot Blue Bang Watch faces stiff competition from other
companies in the luxury watch section like Tag Heur,
Casio, Calvin Klein, Fossils, Timex, and others, however,
Hublot faces cut throat competition with Rolex. Rolex is a
renowned luxury watch company founded in 1908, and
since, then Rolex has been focusing on designing
innovative watches, that are exclusive in design, style,
and provide a style statement.
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The competitors of Hublot Big Bang
are big names in the luxury watch
section. The biggest strengths of the
companies like Rolex and others are
that they have adopted aggressive
marketing models, and have been
associated with sports and other
endorsements. However, recently,
Hublot Big Bang has also started
associations with sports and other
events for increasing brand visibility.
Promotio
n
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The product portfolio of Hublot is bigger than that of Rolex. The other competitors have been focusing on features like dust-resistant,
water resistant, Hublot have managed to focus on introducing better grip watch strips with the mixture of metal and rubber. Hublot has
introduced many lines under the Big Bang name, like Big bang Black, Big Bang Rose gold, and the latest Big Bang blue. The other
product features are more or less the same.
Product
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The luxury watches companies have either adopted a competitive price model or
high pricing model. The prices of the Rolex and Hublot watches are more or less
similar with very small or negligible price difference .
Price
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Place
While Hublot mainly operates through its own
boutiques, Rolex and other brands have
successfully established their stores in many
countries worldwide and have increased their
network by associating with other watch selling
companies. Moreover, other brands are available
online on big online shopping sites like Amazon and
Flipkart
12. 1: To increase its virtual presence. The company will
start its online operations, by giving exclusive rights
to its limited edition collection to a particular online
partner. Hublot can partners with big online stores
like Amazon to exclusively sell its products. In next 6
months, Hublot should start its online operations.
Later, Hublot can also start online selling from its
own virtual stores.
Marketing objectives can be described as SMART
goals which are achievable and measurable.
Currently, the company has not explored the
developing economies; hence, it is important for the
company to devise a plan for entering into the
developing economies. The following are 2 major
marketing objectives of Hublot Big bang.
2: Hublot is the official timekeeper of Football world cup,
and Formula1, and has been associated with some popular
film actors for brand endorsements. In next six months,
Hublot must host some sports events, and associate as
official sponsors of NBA leagues, so as to increase brand
visibility and enhance brand image.
Marketing
Objectives
3: Since, Hublot only sells its watches through its
own stores, it should also merge with certain other
watch selling boutiques to increase brand visibility.
In next 6 months, Hublot big bang should be
available in elite watch stores.
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Financial
Objectives
The following three financial objectives are set that are to be achieved
by Hublot Big Bang in next 6 months:
1: A major financial objective achievable in 6 months is to
produce a clear and realistic forecast. Due to aggressive
marketing, the projections are generally not aligned with reality
and hence, it is important to have clear and realistic projections
that are achievable in a given time.
2: Another major financial objective is to increase the current
revenue by 2 % in next 6 months
3: Increasing the revenue via virtual selling, and online selling.
14. Product: Hublot is a luxury watch brand founded in
1980, since then, it has been using innovative
techniques for the convenience of its users. It
presents a great combination of design, classic looks
and the most efficient strap of a sports watch. It has
a bigger product portfolio and mainly includes limited
edition watches. Hublot Big bang is a 100 limited
edition watches exclusive collection.
It includes the 4 Ps of Marketing Mix which includes,
the product, place, price and promotion. The
marketing mix of Hublot watches is as follows
Place: Hublot Big Bang
Watches are sold through directly through showrooms, and
designer boutiques. However, these watches will now be
sold via authentic dealership, and by partnering with online
stores for launching the exclusive collection
Marketing Mix
Promotion: digital marketing will be used
extensively, to increase the visibility and target
young users who are creating a new niche market.
The social media marketing through,
Facebook, twitter and other social media sites will
be included in the marketing strategy
Price: The Hublot Big Watches are premium priced
and since they are limited edition watches, the prices
are even higher.
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Digital Marketing
Communications
Plan
Objectives: The objectives of a place specific digital
communication plan are to increase visibility in the virtual space,
by adopting different places like social media and emails and
website
Hublot has a personal website and can use digital marketing to
increase the viewers by first launching the exclusive collections
on internet along with the other campaigns. Moreover, Hublot
can ask for suggestions to engage customers and improve their
products and provide proper feedback.
Hublot can also target the social media, by including some
contests, or allowing the consumers to provide their feedback for
improvements. Also playing social media games will increase the
brand awareness and loyalty.
Hublot can also use emails for sending direct emails to its elite
customer base and their contacts, about the launch of exclusive
watches, and the events sponsored, and some elite customers
should be sent passes so that they attend the events
17. The implementation phase includes ensuring
that the action programs designed to achieve
the marketing and other objectives are
implemented properly. The implementation
phase requires full support from the middle-
level managers, so as to ensure that the
programs are well executed. Managers must
ensure that there is effective communication
between teams for better flow of information.
It is important to ensure that the resources
required to implement the plan are available
Implementatio
n and Control
of Marketing
Plan
The monitoring and control phase will allow
the managers to monitor the processes and
control the action programs and different
activities associated with it. The managers
will ensure that the employees undertake the
action programs and ensure that all the steps
in the implementation phase are well-
executed .The managers should compare the
actual values with planned values at every
stage so as to determine the deviations which
can be either controlled or explanation for
deviation can be provided.
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Hublot is a renowned name in the
luxury segment watches. It has been
associated with various sports events
and has even partnered as official time
partners in different sports events. The
paper presents the marketing plan for
Hublot Big Bang and recommends,
Hublot o start their online sales and
maximize reach by online selling and
authenticated dealership.
Conclusion