The Market of Showroom Trademark - Research Paper Example

Market Target Paper The watch showroom is known by the name of ‘Trademark’. It is a leading watch brand which has made it to the top echelon through hard work and devotion of its employees, who have remained steadfast within their work realms. The showroom depicts the best watches under one roof, where nearly all segments of the audiences are catered to, and hence the need to give them the best watches exists without any doubt. The owner, Mr. Jack believes very strongly that Trademark should be a name to reckon with, within the related market spheres and there must not be any competitor which can come anywhere close to how Trademark has been able to play its role within the watch business which has been taking place in the market. Trademark is therefore a name that is much cherished and is given importance by the people who believe in high quality watches, which signify their rich taste and superior class – all represented duly by Trademark. The watch industry has been specifically catered to by giving the audience a taste of supreme class and rich elegance, which are some of the most renowned and sought after attributes that one looks in a watch. Fortunately for Trademark, the owners have always believed in all these finer aspects, and hence the reason that Trademark has been able to manifest its due role within the related scheme of things. The demographics for Trademark include the people who belong to different age segments. These have comprised of the middle class segments within the socio-economic realms as well as the elite class which believes staunchly in class and exuberance more than anything else. This is the reason why Trademark has been instrumental at creating a niche of its own, and is much renowned within the market. The brand is a hit within the people from these socio-economic domains, and is easily looked after by both the genders – males and females. It has been able to target people from the age of 18 years up to 75 years. Such is the diversity within the watches of Trademark that it has been able to represent high quality and rich taste amongst all concerned. Trademark’s owners know that they are selling on the quality tangent more than any other factor. This is the reason why Trademark is known to be a ‘killer’ watch amongst the competitors, because it is able to garner quite a lot of fame and recognition due to its sophistication and the value which it brings for its buyers. The people who wear the Trademark brand look famous in their own entirety, and are hailed by people who are near and dear to them. The brand signifies that the person believes in quality and wants to look good within the people where he hangs out or goes (Swenson 1990). As far as the showroom of Trademark is concerned, it should be opened at such a place where the target audience has ease of visiting the same. They should feel pride in visiting a showroom which is close to their affinity levels. It must represent their likeliness for the area and should most definitely be a suburb within the upscale localities of the city. There must be a proper parking spot dedicated for the people who visit this showroom because the Trademark brand means quality for its buyers, and this can only be manifested by giving them a complete 360 degree package more than anything else. Trademark’s showroom should be at such a location where there is ample room for other showrooms and shops as well. However this could be a bit of an advantage if these showrooms and shops are not selling watches just like the Trademark brand. The exclusivity must come with a price, which indeed Trademark is charging through its customers. The brand has been able to give the best value to its buyers through unique selling models and packages which are tailored to look after the needs and aspirations of the people who wish to buy Trademark for their own selves, family members and friends. It is very important to ascertain what the customer really wants. He requires that the brand should give him the confidence that when he wants to go out and be a part of the social circle that he belongs to, it should send positive vibes amongst the people. He must give an air of confidence which shall be booming within his stride (Moschis 1994). What is most important is the fact that he must know that Trademark represents him and that Trademark is a sign of trust that he holds a great deal of value with. It is the brand equity of Trademark that shall derive absolute pleasure and delight for the customer, and this must not fall down in any case whatsoever. The showroom similarly should depict high class and grandeur because Trademark is all about richness and high class. It would be a missing element here if Trademark is going one way while the showroom does not quite represent what people think and perceive it as. The market of the showroom should be welcoming in its most basic sense. It must represent class because this is one element that the visitors would dearly require as they do not purchase watches on a routine basis. This is a high end commodity and is purchased after much thought and study. Hence all-out attention must be paid towards the details before setting up the showroom in essence. What is most important here is the fact that Trademark will attract new people to its showroom because this is a much cherished and desired proposition. There would be return clients for the Trademark showroom but they would not come back time and again. Since this is a high end commodity, the customers might take years to return (White 2003). Hence it very significant that new customers throng the showroom in order to purchase the Trademark watch label. As far as the industry competition is concerned, Trademark should know that there are many big fish in the sea already, and that it will be faced with severe competition from day one. There are international watch manufacturers like Rolex, Tag-Heuer, Rado, Tissot and so on, and Trademark has to compete with each one of these on a proactively consistent basis. The competition is not only limited to the well-known names in the market but also the mushroom brands which have thronged the market from left, right and center. These have included the not-so-well-known names that are regional and belong to certain areas and even hail from a national standpoint. Hence Trademark is serving a segment which is established, and which shall believe in rich quality and sheer taste of watches more than anything else. This is important to understand because it is the basis of success for Trademark essentially. All said and done, Trademark is bound to achieve greatness and will be a hit within the relevant market domains as its emphasis is set in the right direction. Trademark means business and knows its game well. Hence it would only be natural to believe that Trademark will bring in a great amount of positives for the showroom owner and the brand owner without a shadow of a doubt. The market would severely be affected by competition and what Trademark can do within the midst of such competitive activities is to be head-on and deliver on trust and integrity that it has built up parallel with its brand name. Bibliography Moschis, George P. Marketing Strategies for the Mature Market. Quorum Books, 1994 Swenson, Chester A. Selling to a Segmented Market: The Lifestyle Approach. Quorum Books, 1990 White, Howard. Targeting Development: Critical Perspectives on the Millennium Development Goals. Routledge, 2003 Read More