Part 3: Strategic Summary Chart
Summarize your findings from the research you’ve conducted thus far. This research includes both secondary research (from Assignment 1) and primary research from this assignment. These are the major conclusions that you have drawn from the research work that you’ve done. Use a “data-strategy” table to organize your key takeaways and what it will mean for your group’s plan. A data-strategy table itemizes each key research finding and its corresponding strategic action. (See Exhibit A on the last page as an example - this came directly from the competition’s website). Think big when it comes to your data findings. Don’t just report that 50% of the people that took your survey were men – that’s not helpful for a marketing plan. Say something like:
Finding (Data)
Action
Consumer reports online in addition to results from primary data collection (qualitative and quantitative) suggest that 18-35 year olds are more willing now than ever to buy wearable technology.
Promote Q Smartwatches as a new way of life – something that everyone is doing – and that makes a life’s experience more fun!
18-35 year olds prioritize value in their technological expenditures. If they feel as though they are not getting a great deal, they are not interested since they have limited resources. Many use loyalty clubs and coupons to help save discretionary income (Insert a citation link here)
Illustrate that the Fossil Q Smartwatches are not only a great technological solution, but also great value. Consider sales promotions and free shipping…
(These are purely just example – I have not collected any data on this)
This strategic summary chart will be prominently featured in your final plans, so now is the time to create it – we’ll work on it several times. The chart itself should be a simple, two-columned chart with the research conclusion on the left and the corresponding action on the right. Be sure to format it in a way that is reader-friendly and visually satisfying. This will help sell your plan and create credibility for your team. Focus in on the high level findings, not specific quotes or overly-detailed secondary research discoveries. Be concise, clear, and super-professional with your words in this chart. Essentially, this chart provides justification for the plan that you’ll be recommending. Have at least ten findings and corresponding actions. Because it basically summarizes all of the research that you’ll do for this project, this is the most important deliverable of Assignment 2!
Deliverables:
· Everyone watches the Marketing Research Videos and at least one member from each group takes the online course on Social Media and Data Analytics.
· Depth Interview Draft (Requires Approval Prior to Collecting Data)
· You should send this to me by Tuesday, 2/20
· Executive Summary of how the assignment went (1-2 paragraphs)
· 2 page summary of results of research findings – include sample size from each method
· Strategic Summary Char.
Part 3 Strategic Summary ChartSummarize your findings from the .docx
1. Part 3: Strategic Summary Chart
Summarize your findings from the research you’ve conducted
thus far. This research includes both secondary research (from
Assignment 1) and primary research from this assignment.
These are the major conclusions that you have drawn from the
research work that you’ve done. Use a “data-strategy” table to
organize your key takeaways and what it will mean for your
group’s plan. A data-strategy table itemizes each key research
finding and its corresponding strategic action. (See Exhibit A
on the last page as an example - this came directly from the
competition’s website). Think big when it comes to your data
findings. Don’t just report that 50% of the people that took your
survey were men – that’s not helpful for a marketing plan. Say
something like:
Finding (Data)
Action
Consumer reports online in addition to results from primary
data collection (qualitative and quantitative) suggest that 18-35
year olds are more willing now than ever to buy wearable
technology.
Promote Q Smartwatches as a new way of life – something that
everyone is doing – and that makes a life’s experience more
fun!
18-35 year olds prioritize value in their technological
expenditures. If they feel as though they are not getting a great
deal, they are not interested since they have limited resources.
Many use loyalty clubs and coupons to help save discretionary
income (Insert a citation link here)
Illustrate that the Fossil Q Smartwatches are not only a great
technological solution, but also great value. Consider sales
promotions and free shipping…
(These are purely just example – I have not collected any data
on this)
This strategic summary chart will be prominently featured in
2. your final plans, so now is the time to create it – we’ll work on
it several times. The chart itself should be a simple, two-
columned chart with the research conclusion on the left and the
corresponding action on the right. Be sure to format it in a way
that is reader-friendly and visually satisfying. This will help
sell your plan and create credibility for your team. Focus in on
the high level findings, not specific quotes or overly-detailed
secondary research discoveries. Be concise, clear, and super-
professional with your words in this chart. Essentially, this
chart provides justification for the plan that you’ll be
recommending. Have at least ten findings and corresponding
actions. Because it basically summarizes all of the research that
you’ll do for this project, this is the most important deliverable
of Assignment 2!
Deliverables:
· Everyone watches the Marketing Research Videos and at least
one member from each group takes the online course on Social
Media and Data Analytics.
· Depth Interview Draft (Requires Approval Prior to Collecting
Data)
· You should send this to me by Tuesday, 2/20
· Executive Summary of how the assignment went (1-2
paragraphs)
· 2 page summary of results of research findings – include
sample size from each method
· Strategic Summary Chart – Draft 1
JREAM Team
Throughout this first assignment we experienced what it is like
to be the company rather than be the consumer. Our job through
the first assignment was to figure out who we are selling our
3. watches too and why. When we were asked to look more in
depth at our target market we decided to take two approaches to
our target market and market our product two different ways.
We feel that a Fossil Smartwatch is more appealing to men and
women above the age of 24 and below the age of 36. We would
like to market our product differently to 18-24 year old men and
women. We should not cut out 18-24 year old men and women
but approach them differently.
Looking at Fossil’s website allowed us to find out more on
who they really are. Most people know Fossil solely as a watch
company but we found out that they do more than just sell
watches. Selling millions of dollars worth of clothing helped
shape our direct and indirect competitors. Knowing that Fossil
is more than a watch company means that our SWOT Analysis
characteristics widened. With our SWOT widening this allows
our strengths, weaknesses, opportunities, and threats to all
enlarged.
2. Learn about your Target Market
1. Average Salary within our Target Market
a. Ages 16-19: $21,840
a. Ages 20-24: $27,456
a. Ages 25-34: $39,416
1. Unemployment Rates within our Target Market
b. 16-24: 10.4%
b. 25-29: 5.6%
b. 30-34: 4.5%
1. : $2,28 Average living (one bed rental per month)
c. San Francisco, CA: $3,590
c. New York, NY: $3,340
c. Boston, MA: $2,810
c. Oakland, CA
1. 81% of millenials check twitter once a day.
1. 79% of Americans use Facebook which is the No.1 social
media platform.
4. 1. Instagram earns $595 million in mobile ad revenue per year,
a rapidly increasing number.
1. More than 56% of online adults use more than one social
media platform.
1. These are men and women between ages 18-35 years old.
1. They are more interested on the high level of lifestyle and
have a sense of class.
1. They are willing to spend almost half of their income buying
luxuries such as expensive and designer watches, bags, shoes,
etc.
1. They are always online in various social media sites and
therefore they give attention to any pop up adverts concerning
clothing, shoes, jewelry, etc.
1. The company should ensure that every new product they
make the market it on social media since this age group is so
active in these sites (Armstrong Gary, 2015).
1. Most of the people in this age group are in colleges
1. Their income level is average since most are in their first
jobs after college.
1. The age group consist of people of different race since the
company targets every person.
1. Most of them watch television programs that brings lifestyle
and entertainment programs
1. Most of them are comfortable on social media sites like
Instagram, Twitter, Facebook, etc.
1. They spend almost half of their day on their devices
1. They mostly follow social media pages that advertise
designer brands
1. They are always ready to spend on something as long as their
peers have it
1. They are excited by the new brands in the market
1. Roughly half of 18"29 year olds have accessed the internet
wirelessly on a laptop (55%) or on a cell phone (55%), and
about one quarter of 18"29 year"olds (28%) have accessed the
internet wirelessly on another device such as an e"book reader
or gaming device.
5. 1. The impact of the mobile web can be seen in young adults’
computer choices. Two"thirds of 18" 29 year olds (66%) own a
laptop or netbook, while 53% own a desktop computer. Young
adults are the only age cohort for which laptop computers are
more popular than desktops
1. Millennials spend $600 billion annually which is 28% of all
daily per-person consumer spending.
1. Millennials forecasted to be 35% of consumer spending by
2030.
1. A majority of millennials make most of their purchases
offline.
3. Learn more about Fossil
1. Fossil sold $700 million worth of clothing
2. Fossil sold $1.8 billion worth of watches
3. Fossil is in the Household/Personal Care industry
4. In total they sold $2.57 Billion
5. Founded in 1984
6. Wholesaler
7. Fossil stock fell 1.2% to 30.36 on the stock market today.
8. Q lineup by Fossil has more than 20 products.
9. Price between $175 to $195 for Q line.
10. Fossil Q is compatible with Android 4.3, iOS 8.2 and
higher.
11. The watch bar – able to design your own custom watch,
much like designing shoes on a shoe store website.
12. Fossil Q smartwatch and hybrid watch offer many functions
such as fitness tracking, customization, social media and
text/email, compatible with smartphones, and other functions.
13. Fossil Hybrid watches are quick and easy to set up right out
of the box. All you need to do is download the companion
“Fossil Q” app on your phone, launch it and register on it.
14. CEO of Fossil is Kosta N Kartstois.
15. In 3 global regions, 59 offices around the globe, 150
countries of business and operation.
16. Company’s segments include Americas, Europe, and Asia.
6. 17. It’s an American designer Company
18. It manufacturers accessories mostly watches and jewelry
19. The founders of the Fossil hold 30% of company stock
20. It is named after the founders father
21. It embraces customer value and value creation
22. Their prices are not high hence attracting huge customers
23. Their watches are of wide range to cater for customer taste
and preference
24. Their products are of high quality to meet customer’s
satisfaction (Armsrong Gary, 2015).
25. They offer discounts to their customers
26. Their products are highly fashionable and easily available
27. Their products are found both in online sites and retail
stores
28. They can deliver both internationally and in domestic
markets
29. They have created an outstanding image of their brand over
the years (Douglas C. West, 2015).
4. Initial thoughts Write-Up
7. The distinctive competency of Fossil organization is that it
is able to come up with new innovations now and then and that
is what attracts customers. For instance, Fossil recently
announced a new smartwatch that comes with a touch screen
that is of bezel form and is able to permit scrolling quickly.
Another key quality that attracts customers is the ability to
resist water. Along with the resistance and the technology is the
fashion. 18-35 year old men and women will want to purchase
something of this magnitude that will be fashionable.
When it comes to the specifications of a Fossils smartwatch, the
qualities are what makes an 18-35 aged person buy it. There is
no doubt that the specifications are top class and other
organizations are not able to meet such specifications. For
instance, a Fossils Smartwatch has an Intel Atom Processor. The
other major specification that gets the attention of a youth is the
size of a screen. The screen is 1.5 inches which is a big size and
which makes the target market to go for such
specification(Young,2008). The size of the screen then makes it
ideal for the youth to floss in the watches and get to enjoy as
they desire.
Fossil Group the manufacturers of Fossil smartwatches are
going to extra miles in order to market their products to its
consumers. The Fossil group has teamed up with brands of
fashion in order to meet many consumers together with their
lifestyles. The company has been able to meet with brands like
Skagen, Chaps, and Misfit among others in order to reach a lot
of consumers. As it partners with other brands, the company is
using online platforms through digital and social marketing in
order to meet the desires of the youths(Randall,2001). Social
media sites being used are the likes of Facebook and Instagram
among others.
With the new smartwatches, there come a lot of opportunities
with the well-established smartwatches and their upbeat
standards. The smartwatches are of touch screen and that means
8. the watches are of hybrid making them sell more. The watches
are also light in weight when compared to their competitors and
that goes a long way for them to sell more. In order for
enhanced marketing of the products, there should be a one on
one marketing where the organization goes to campuses and
promote the product which will make sells to go up.
5.Competitor Analysis
Indirect Competitors
· Audi- Audi is a German automobile manufacturer which was
established in 1899. We chose this as an indirect competitor
because they sell cars to the same class as Fossil. Upper middle
class people can afford and buy Audi cars as they would Fossil
watches.
· Nike- Nike is an American made multinational corporation
looking to attract the same type of customers as Fossil.
Established in 1964 by Phil Knight.
· Tommy Hilfiger- Tommy Hilfiger is an American
multinational corporation that designs and manufactures upper
market apparel for men, women and children.
Direct Competitors
· Samsung- There is no doubt that Samsung is the leader where
Smartphones are concerned. The launch of Google Android has
been a blessing for Samsung. Samsung has truly taken
advantage of the Google Android operating system and has
some beautiful handsets which have taken the world by storm.
· Apple- Established in 1976 by Steve Jobs. Apple is a direct
competitor to Fossil because they sell a similar smartwatch with
the same target market. Apple came into the electronic scene
and has everyone’s business because of their advancements in
technology over the past 10-15 years
9. · Google-In the Google website segment, the company competes
with search innovator Yahoo (YHOO), Internet pioneer and
media company AOL (AOL), technology giant Microsoft,
business and career social networking site LinkedIn, and several
other companies. For all of Fossil watches, Google does the
software.
6.SWOT
SWOT Analysis
Strengths
· Wide distribution network
· Strong portfolio of brands and retail price points
· Website design very similar to big brands like Nike and
Adidas
Weaknesses
· Dependence on few sources for certain key components
· Not as well known as some brands.
Opportunities
· Increasing presence in fast growing Asian luxury market
· Growing online retail channel
· Positive outlook for jewelry and watches market
Threats
· Increasing labor wages
· Counterfeit products
· Intense competition
Sources
https://www.forbes.com/sites/ewanspence/2014/03/02/why-i-
love-wearing-a-smartwatch-and-why-you-should-wear-one-as-
well/#47b3f0706bc5
http://www.scmp.com/tech/article/2067481/smartwatch-market-
hits-record-211-million-sales-2016-apple-pulls-ahead-samsung
11. Store.
Burt, J. (2016). Qualcomm Snapdragon SoCs Powering Latest
Fossil Smartwatches. Eweek, 1.
Weiss, T. R. (2015). Fossil Launches Stylish Smartwatch and
Fitness Bands. Eweek, 6
MSB210 Assignment 2
Primary Research and Strategic Summary Chart
Due: Monday March 12th
1. Learn more about Marketing Research
a. Two youtube videos to watch
a. 2 hour course to take and put on resume
0. Primary Research
Qualitative Research
Depth Interviews 7-10 questions
What is your favorite devices to use? Why[BJ1] ?
What personal devices do you use social media on?[BJ2]
What sort of personal electronic devices do you own[BJ3] and
how do you use them?
Which one do you use the most? What sort of activities do you
use it for[BJ4] ?
How many times do you access social media a day? What do
you use? Why?[BJ5]
When was the last you went shopping for an electronic device
and tell us how you shopped for it?
Has there been any new devices on the market that have caught
your eye? Where and how did you see it[BJ6] ?
· Have you ever bought anything because of an ad or
commercial you have seen[BJ7] ? Explain.
Do you prefer shopping online or in store[BJ8] ? Why?
What’s the most would you pay for a smartwatch?
Do you buy anything you like even if it is expensive?
12. Answers:
1. What is your favorite devices to use? Why ?
Bre Jacinto: iPhone, because it’s convenient and
accessible.
Bekah Araujo: iPhone because it’s convenient and I
have it with me all the time
Liz Waring: My phone, because it can do everything
for me. Text, call, email, and take pictures.
Blas Freshko: Phone, because its easy.
0. What personal devices do you use social media on?
Bre Jacinto: iPhone
Bekah Araujo: iPhone
Liz Waring: Phone because I can text, call, email, and
take pictures.
Blas Freshko: iPhone
0. What sort of personal electronic devices do you own and how
do you use them?
Bre Jacinto: Laptop for school and youtube and
Netflix
Bekah Araujo: Laptop for videos, games, sports, and
netflix.
Liz Waring: Laptop is for school and email, while my
SmartTV is for Netflix and tv shows.
Blas Freshko: Iphone, Xbox to play video games and
a laptop to write papers and do homework.
0. Which one do you use the most? What sort of activities do
you use it for?
Bre Jacinto: Phone for social media.
Bekah Araujo: Laptop for Netflix, school, and sports
Liz Waring: iPhone for text, call, email, and to take
pictures.
Blas Freshko: iPhone to play games, social media and
13. to communicate
0. How many times do you access social media a day? What do
you use? Why?
Bre Jacinto:15-20 times a day for snapchat,
instagram, vsco, twitter, and facebook
Bekah Araujo: 20 times a day instagram, snapchat,
twitter, and pinterest
Liz Waring: Twitter About 8-9 times a day to keep up
with friends and athletics
Blas Freshko: twitter At least 12 because I am bored
and for instagram 10 times because twitters more important
0. When was the last you went shopping for an electronic device
and tell us how you shopped for it?
Bre Jacinto: In June I went to BestBuy and bought a
computer.
Bekah Araujo: Yesterday and online for a phone.
Liz Waring: Two years ago and narrowed it down by
pricing and went with an iPhone for accessibilities.
Blas Freshko: Currently doing it now for a computer
and online because you can’t trust computers in store.
0. Has there been any new devices on the market that have
caught your eye? Where and how did you see it?
Bre Jacinto: Apple came out with a commercial for an
iPhone x with Migos playing “Stir Fry”.
Bekah Araujo: iPhone x because of Migos and their
singing commercial because you sent it to me.
Liz Waring: Newest iPhone on a tv commercial
Blas Freshko: Computer and on computer websites.
0. Have you ever bought anything because of an ad or
commercial you have seen? Explain.
Bre Jacinto: Laptop, because I got free Beats along
with it.
14. Bekah Araujo: iPhone x because of the migos
commercial and I cracked my phone.
Liz Waring: Dunkin donuts had a discount with a new
flavor swirl.
Blas Freshko: Wendy’s because it is my go to
especially for the 4-for-4.
0. Do you prefer shopping online or in store ? Why?
Bre Jacinto: In store so I can try things on.
Bekah Araujo: In store because I want to be able to
touch things.
Liz Waring: Online because it is easier and not as
stressful.
Blas Freshko: Online because shopping takes forever
because you can go to 12 sites in 2 minutes rather than 1 store
in an hour.
0. What’s the most would you pay for a smartwatch?
Bre Jacinto: $120
Bekah Araujo:$150
Liz Waring: $150
Blas Freshko: $5
0. Do you buy anything you like even if it is expensive?
Bre Jacinto: Yes, sadly
Bekah Araujo: Makeup, yes
Liz Waring: Yeah if it’s official and legitimate
Blas Freshko: No, because I have to spend money
wisely while on a college budget.
Mohammed Answers
1. What is your favorite devices to use? Why?
Chie: iPhone X. It has many features that I need.
Hussain Albinsaad: iPad 4, it’s easy to use and has a large
15. screen
Lea: Laptop
Rich Taker: iPad- convenient and easy to use instead of
computer
2. What personal devices do you use social media on?
Chie: Phone and laptop.
Hussain Albinsaad: iPhone 8
Lea: iPhone 8
Rich Taker: iPhone
3. What sort of personal electronic devices do you own and how
do you use them?
Chie: Phone and laptop. For many purposes like studying,
Shoppes, chatting and many.
Hussain Albinsaad: iPhone, IPad, and laptop. I use them most of
the time.
Lea: Laptop, iPhone. Laptop; to do some work, school work and
job.
iPhone; mainly private use (texting my friends, taking pictures).
Rich Taker: Phone, iPad, laptop- frequent use
4. Which one do you use the most? What sort of activities do
you use it for?
Chie: Phone (iPhone X)
Hussain Albinsaad: iPhone 8. I use them to communicate via
social media and browsing
Lea: Both, he answered in question 3.
16. Rich Taker: IPad- making notes, reading
5. How many times do you access social media a day? What do
you use? Why?
Chie: 10-15 for chatting and shopping.
Hussain Albinsaad: at least 5 times a day for chatting, email,
reading, shopping and many.
Lea: Once or twice a day. Checking others posts.
Rich Taker: Not much
6. When was the last you went shopping for an electronic device
and tell us how you shopped for it?
Chie: A few minutes ago, thru Amazon.
Hussain Albinsaad: today, March 10, 2018
Lea: 5 or 6 years ago. I bought my laptop.
Rich Taker: I don’t shop online.
7. Has there been any new devices on the market that have
caught your eye? Where and how did you see it?
Chie: iPhone X. I saw in the TV and internet.
Hussain Albinsaad: No.
Lea: Not really. Probably new iPhone.
Rich Taker: Samsung S9. Saw at an electronic store.
8. Have you ever bought anything because of an ad or
commercial you have seen? Explain.
17. Chie: Yes, iPhone X
Hussain Albinsaad: No.
Lea: Yes. Probably cosmetics, foods, and iPhone. But I am not
the person who easily trust advertisement.
Rich Taker: Never purchased anything by getting influenced
from ad.
9. Do you prefer shopping online or in store? Why?
Chie: Both work with me but if my items are available online I
would order them to safe money and time.
Hussain Albinsaad: online is better because it safes my time and
money.
Lea: Both have advantages and disadvantages. I will go to the
store if it is important for me to see things and touch them by
hands.
Rich Taker: In store, gives better experience, can touch and see
the thing that I want to buy.
10. What’s the most would you pay for a smartwatch?
Chie: Up to $280
Hussain Albinsaad: $180
Lea: $700
Rich Taker: $350
11. Do you buy anything you like even if it is expensive?
Chie: Yes.
Hussain Albinsaad: Yes, if necessary.
Lea: Electric devices, clothes and bags if I really want or need.
Rich Taker: Yes, every time.
18. Andrew Newman Answers:
1. What is your favorite devices to use? Why[BJ1] ?
Eric: My iPhone definitely. Small and easy to use, can
check emails, call people
Cam: My iPhone. Use it for my job.
Theo: My laptop. The screen is bigger.
Rees: My iPhone. I can use it to get out of awkward
situations.
Travis: The iPhone because it has the most apps and can do
the most.
2. What personal devices do you use social media on?[BJ2]
Eric: Just the iPhone.
Cam: Use phone mostly, but sometimes on the laptop.
Theo: Just my phone. The apps are right there.
Rees: My phone.
Travis: The iPhone
3. What sort of personal electronic devices do you own[BJ3]
and how do you use them?
Eric: An iPhone, a MacBook, and an Apple Watch. Use the
phone for everyday life and laptop for schoolwork. Uses the
Apple Watch to text and fitness stuff.
Cam: An iPhone, a MacBook, an Apple Watch. Use phone and
laptop for job, social stuff, school.
Theo: An iPhone, a MacBook, and an iPod Touch. School and
social purposes.
Rees: An iPhone and a MacBook. School and social.
Travis: IPhone, iPad, Amazon dot, Apple Watch. I use them for
music, occasional movie/TV, reading things or hearing about
the news.
4. Which one do you use the most? What sort of activities do
you use it for[BJ4] ?
Eric: IPhone. Social purposes and school
Cam: IPhone. Use for job, school, and socially.
Theo: Laptop. Use it for school, sometimes for netflix.
19. Rees: My phone. Social and school work. Laptop for school.
Travis: Twitter and Snapchat. To see what’s new.
5. How many times do you access social media a day? What do
you use? Why?[BJ5]
Eric: At least five times a day. Only uses iPhone. Easy to use
because of apps.
Cam: Usually a few times a day. My phone. Easier to access.
Theo: At least a few times a day. My phone the apps are right
there.
Rees: A lot, eight to ten times maybe. Use the phone because
apps make it easier.
Travis: A good amount. Mainly Twitter and Snapchat. Get bored
mainly and go on there to see what’s new.
6. When was the last you went shopping for an electronic device
and tell us how you shopped for it?
Eric: A couple months ago because I needed a new phone
because of an accident. Was under warranty.
Cam: Around Christmas time and went for an upgrade. Debated
between two different iPhones and got the iPhone 8.
Theo: Shopping for my phone a year or two ago, asked about
what was unique about each different thing and what it had.
Rees: Three or four months ago looking for a laptop. I looked
up the products and asked around at the store about the
products.
Travis: Last year when I got my new phone. Went to the
Verizon store and bought it.
7. Has there been any new devices on the market that have
caught your eye? Where and how did you see it[BJ6] ?
Eric: IPhone X. A kid on my team had it.
Cam: All the new Apple products. Like to stay up to date with
all the latest products. See them through commercials and
research.
Theo: No not really.
Rees: No nothing.
Travis: None that I can think of.
8. Have you ever bought anything because of an ad or
20. commercial you have seen[BJ7] ? Explain.
Eric: Not to many times. Depends on the pricing. Bought a
blender
Cam: Has influenced me but mostly because I know what it is
already from prior knowledge.
Theo: None that I can think of.
Rees: Probably, can’t remember.
Travis: Not often. Don’t get on TV much to see commercials.
9. Do you prefer shopping online or in store[BJ8] ? Why?
Eric: In store. Can go in store and try stuff out.
Cam: In store. Skeptic of online stores still.
Theo: In store. There could be issues with shipping.
Rees: In store. Can try stuff on or try stuff out.
Travis: In store. I like to see and feel what I’m buying.
10.What’s the most would you pay for a smartwatch?
Eric: Got mine for a gift, so I really wouldn’t pay much.
Cam: Paid $300 so not to much over.
Theo: A few hundred.
Rees: $200
Travis: Didn’t pay for mine because it was a gift but if it was
out of my wallet then I’d say not much.
11. Do you buy anything you like even if it is expensive?
Eric: Yes. Clothing brands or shoe brands.
Cam: Absolutely. Phone and watch.
Theo: Depends how expensive and how I’m doing money wise.
Rees: Yes.
Travis: Yes, if I like it enough and is worth it.
Executive Summary: Raed
Executive Summary
The paper addresses the target market of Fossil Company. The
stated organization deals in manufacturing smartwatches. The
paper addresses the manner in which the company is versatile
when it comes to styles.The greatest groups of people who are
targeted by the company are the people in the middle class
especially those who are 18-34 years of
21. age. The paper equally proves that the people in the stated age
bracket always want to look classy and identify themselves with
the individuals of the same caliber.
The article goes further to discuss the reason why Fossil
Company continues to flourish. One thing remains for a fact
that most of the organizations will progress if they have the best
strategy. The paper provides a proof that Fossil Company has
major competitors but still
remains to fight for its space. The paper talks about the mergers
that the company has engaged in as one of the reasons why it is
realizing the tremendous success. Besides, the quality of the
commodities produced because of the merger between Fossil
Company and the associate is also discussed as a reason why it
is realizing the tremendous success. It is of importance to
understand how Fossil Company sways most of the buyers to its
side.
2 page summary of results of research findings
Andrew
· All of the people I interviewed like the idea of going into the
store to try out the product.
· Only half of the interviewed people would order from online,
but they still preferred in store.
· All interviewees owned an iPhone and a Mac laptop.
· Most interviewees use iPhone the most.
· All interviewees use social media on phone and some of
interviewees use it on the laptop. Easy to access because of
apps!!!
· Ads have had some influence in making purchases for most of
the interviewees.
· $200 to $300 is the most they would pay for a smartwatch.
· Average time of use is above 5 hours a day.
· IPhone used the most out of all interviewees. Used for school,
work and social purposes.
22. · MacBook used for school mostly.
· Those who do have apple watches use them for checking texts.
John
· Every person I interviewed would rather have an iPhone at
their hands because it is more convenient.
· An watch that can do the same thing would be helpful and
convenient.
· Not only do consumers want an iPhone because it is
convenient but it allows them to do more than just call or text.
An iPhone has social media, music and other ways of keeping
up with daily news and information.
· On average, the interviews showed that they access their
social media about 17.75 times a day whether that being twitter,
instagram, pinterest, snapchat, facebook and the list goes on.
· Most used social medias are Twitter, Snapchat, and Instagram
· Advertisements that have been used for our benefit have been
for high-demand and high-quality items.
· Computer, iPhone and headphones are all pricey options but
seen on an advertisement so that they can get a promotion