Toy Watch Essay Example | Topics and Well Written Essays - 1000 words

Toy Watch - Essay Example As the discussion declares Toy Watch is basically a wrist watch company based in Italy. Its innovation lies in its plastic watchbands in bracelet style which gave stiff competition to luxury statement provided by Swatch watches. The company was founded in the year 2005 but in less than 2 years, it has reported mammoth profits because of its new product idea and a well-organized distribution and promotion policy intact with low prices that are affordable by any consumer group. Its heart throb features are its light weight, oversized dials and Italian designing marvel by Marco Mavilla, a Milan-based designer. The popularity and success of Toy Watch is also supplemented by its endorsements with celebrities like Oprah Winfrey, First Lady Michelle Obama, Katie Holmes and so on. This paper stresses that the strategies of a company are examined in terms of four features of namely the product, price, place and promotion. Also termed as four P’s model, the marketing mix determines how the strategy should be pursued in different markets with varying customer preferences, saturation and competition levels. Talking of Toy Watch product, its tactical features are its stylish designing and use of polycarbonate material which blends well with any kind of traditional watch material like steel, ceramic, plastic or crystal and gives the same Italian finish with light weight and unimaginable designs. Its color choices also reveal its product planning and development genius because wrist watches top the priority list of fashion accessories and every day a new design kicks off the older one. As such, with a plethora of color ranges, Toy Watch has targeted the teenage group very effectively when they go for individual dress matching with every single accessory. In te rms of pricing, this is again the competitive edge of Toy Watch whereby it uses penetration pricing to capture the new markets created and gained by this class of plastic band watches. Because of low pricing tactics, Toy Watch was able to garner more market share owing to the affordability its products offered to the various teenager and other groups. The luxury concept of Toy Watch products is applied in its distribution strategies too (Soller 2006). With endorsements from top notch celebs and presenting the watches in jewellery shops and exclusive retailers like Fifth Avenue, Selfridges and Harrods (Italia n.d). This keeps its quality and luxury image intact despite its low pricing. Promotion wise, Toy Watch makes use of not only charity shows but also female sizzling personalities and revolutionary technologies in advertising the distinctive factor of their products. For instance, it partnered with Keep A Child Alive Charity whereby half of the revenues coming from sale of its se lected watches would go towards this charity initiative. Such efforts link the social responsibility and ethical consciousness of the company with the customers and favor the brand image. With Miyota Quartz Movement (Howard n.d) and presentation of Toy watch products on Oprah Winfrey show (Green n.d), it has captured all segments of consumers ranging from most sought after personalities to common men. Factors adding to the customer value Theoretically, customer value propositions which aim to provide them the maximum returns on their investments and utilities of time, place

Psychology Essay Example | Topics and Well Written Essays - 750 words - 11

Psychology - Essay Example This general wish has to be narrowed down so that I am able to focus within psychology studies on my particular strengths and interests. It is also necessary that I understand the level to which I need to qualify myself through study in order to do what I would like to do in a future career. It is important to me now to be able to manage my time and to balance all the aspects of my life. The way I will be able to do this is to ensure I take care of myself physically, mentally and emotionally in times of stress. I want to ensure that my writing skills improve, so that I can clearly communicate the knowledge I am gaining, and the future research findings and results I hope to publish in this field. Another immediate goal is to learn as much as possible from my experiences here. I want to immerse myself fully in my studies, learning as much as I can. This will be possible only if I concentrate on building good communication between my peers and myself, as well as between my instructors and myself. Further, I want to engage fully with the writings and work of other people in the field of psychology. If I synthesize and understand as much of the work in the field as possible, on an ongoing basis, I will maintain current knowledge, continue to find new areas of interest, and gain skills throughout my studies and career. The research and findings of academics in the field of psychology, especially new findings and theories, are very interesting to me, and I would like to keep improving my ability to understand and assimilate such research, and its results. It is also important to me that I learn to research well – both the theory of how to research, and the skills and methods of research. One of my definite interests is Statistics, and I aim to increase my knowledge and understanding of Multivariate statistical methods as they are used in psychology.