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Piaget Altiplano Watches

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1.0. Situation Analysis/Current Marketing Mix

1.1 Current Product

The characteristics of Piaget Altiplano are the thinness, generously - sized dials, automatic and infinitely small. The benefits of Piaget Altiplano are its value and satisfying the female consumer esteem needs. According to Maslow’s hierarchy of needs, esteem is defined as the individual’s need to be recognized and respected by others such as by owning a prestigious watch like a Piaget Altiplano. This may contribute to satisfying the female’s esteem needs (Elliot, Rundle-Thiele, and Waller 2012, 129). There are extra services that the consumers get from purchasing Piaget Altiplano such as customer service, warranty, guarantee, care and maintenance. Piaget Altiplano offers extra services to assure satisfaction. Piaget Altiplano watches come in many makes and models to attract and dissuade the consumers from buying the competitor’s product (Elliot, Rundle-Thiele, and Waller 2012, 232). Consumers are the one who use Piaget Altiplano. Consumer products are products purchased by the consumer for their own private consumption (Elliot, Rundle-Thiele, and Waller 2012, 218). The consumers spend a long time deciding to purchase Piaget Altiplano. Piaget Altiplano is classified as specialty goods. “Specialty goods” mean highly desired consumer products with unique characteristics that consumers will make considerable effort to obtain (Elliot, Rundle-Thiele, and Waller 2012, 129). Some consumers may want a substitute product because Piaget Altiplano is a new brand entering the Singapore watch market. Therefore, the female consumers may want to purchase the competitors’ products, since the competitors have been in the market much longer than Piaget Altioplano. On the other h...

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...ants to continue to be on the market to attract the female consumer. The objective of purchasing a Piaget Altiplano is to satisfy the esteem needs of the female consumer. Piaget Altiplano awareness status is interested. This means, the consumer may or may not want to buy Piaget Altiplano but they already know about the brand. The consumers are still considering whether Piaget Altiplano is the best among all the competitors and look for the uniqueness of Piaget Altiplano.

4.0 List of References:

Elliot, Greg, Sharyn Rundle-Thiele, and David Waller. 2012. Marketing. 2nd ed. Australia,

Qld: John Wiley & Sons Australia, Ltd.

Garnett, Anne, Philip Lewis, Glenn Hubbard, and Tony O’brien. 2013. Essential Of

Economics. 2nd ed. Australia, NSW: Pearson Australia.

Rix, Peter. 2011. Marketing A Practical Approach. 7th ed. Australia, NSW: Michael

Buhagiar.
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