What should Seiko do next?

To be more competitive in high-grade luxury watch market and to earn more profits, Seiko should take three steps:
1)to establish a more focused brand image
2)to strengthen the brand image of “innovation and refinement” in luxury segment
3)to be innovative and unique
With a history associated with the easily accessible mass market, it is not enough for Seiko to rely on technology alone to enhance its brand power, other points such as repositioning the brand image, the power of media should be also taken into consideration.

Seiko is a well-known firm for its watches and the firm has been trying hard to enter into the high-end market for many years.However, the result was not very ideal. The priority for SEIKO should be the customer segmentation, find its target customers, the aged or the young, the professionals or the fashinable ones.

In the video professor played to us last lecture, the manager of Seiko said Seiko only focus on the precise and quality of watches, but will never adopt the diamonds and accessory to promote Seiko watch’s image, which I think ,is probably not appropriate. As a matter of fact, diamonds is such a short cut to luxury industry. Speaking of precise and quality, Seiko is not necessary a strong competitor compared to Swiss watch makers. Why not consider diamonds??

I think Seiko is unique for its precise and quality of watches. Moreover, the customers are enough for its survive. Otherwise, we could not see it now!

So what the company's aim decide further action!

The aim may be:
1.get the largest profit it can
2.be the no.1 precise and quality of watches provider
3.help to keep time for people
4.....


I think the aim combination and priority both decide the action Seiko will take.

This might be the easiest way to go~~

The perceived value of a watch hinged upon its quality, uniqueness, exclusivity and the ability to enhance social status or prestige. Seiko should not rely on technology innovation alone, it need to establish tremendous brand recognition in the luxury watch market to lure customers away from traditional Swiss leaders.

By the way, my father had bought a Seiko watch when he was in Japan in 1979, the watch is still work now.

2010GB Mei Ming 2010960870

SEIKO's target at the businessmen, and it is famous for its preciseness. But it neglets the large customer group-young people, who are easily attraced by sophisticated appearance,fashionable design and multifunction. They are willing to buy the ones they think different and unique regardless of the price.

Just 1 point want to share with you:
For Seiko's unique movement technology Spring Drive.

The movement just like a car‘s engine. We can find a lot of good practices in automobile industry. The same engine is used in different brand car liner with different concept. Such as Toyota and its luxury brand Lexus shared Toyota VVT-i engine. Nissan and its luxury brand Infiniti just shared Nissan VQ engine. The same engine with different tuning used in different brand car succeeded in different market. The point is that, Seiko should position Spring Drive as a great innovative movement technology, not a watch product itself. The Spring Drive technology can be used to a lot of watch product lines. Like the car engine, the movement is the core technology of watch business. Its development is high-cost both to the money and time. Spring Drive is a innovation result of more than 25 years of research and development. Seiko should think smartly to max its value , and differentiate the movement’s lifecycle with product’s lifecycle smartly. As car business, if you have a good engine, just tuning it ,using it in various cars, concentrate to target your new customers ,develop new product quickly and sale them to more and more different customers. We can learn these good practices and implement to watch business.