Watch Marketing Plan Summary 2022

LEE’S WATCH MARKETING PLAN SUMMARY
EXECUTIVE SUMMARY
Lee's Watches Company creates and designs watches that are in line with current market trends.
This marketing strategy shows the marketing division as well as the company's strategies.
Furthermore, it demonstrates the techniques in place that the company uses to attract clients and
provide a consistent revenue stream. It is crucial to note that the company is not just a watch
manufacturer; it is special in that it focuses on the creation of watches that are fashionable,
giving it an edge over competitors. Furthermore, the organization provides clients with a fresh
perspective on their desired Watches, ensuring client retention.
The business is expected to fund the development of the watches by providing consultancy
services for the creation of comparable devices that clients may use to receive calls and
messages, also known as smart watches. In addition, the consulting assignments would be
derived from the advertising sponsorship agreements that the firm is expected to create with its
partners. Overall, the business expects consultancy to account for a large amount of the required
income stream during the first three years of operation.
SITUATION ANALYSIS
Half of the people who buy branded fashion watches are between the ages of 18 and 34. Our core
market category is this age bracket, which buys more watches per capita than those who are
older. Consumers in Ghana are more inclined to buy watches. Many transactions are likely to be
made on the spur of the moment, necessitating robust point-of-purchase assistance. Swatch,
Fossil, Guess, Casio, and Anne Kline compete for 70% of the market, with heavy competition
from Swatch, Fossil, Guess, Casio, and Anne Kline. We have a lot of expertise making creative,
high-quality precision plastics and timing components, so we can give the consumer a good deal
on a branded fashion watch. Furthermore, we have expertise selling items to 75% of the retailers
that sell branded fashion watches.
OBJECTIVES
To build a three percent market share in the first year by combining a distinctive, cost-effective
design. In 2023, the Lee’s watch project will break even.

MARKETING STRATEGIES
In order to enhance our revenues and growth rate, Lee's Watches Company will release a new
product, the revolutionary Lee's Watch, employing penetration pricing, intensive promotion, and
extended distribution.
ACTION PLAN
When compared to current market offers, the Lee's Watch has a lot of advantages. To meet our
goals, we'll sell our one-of-a-kind watch in a variety of styles for ₵45 at recommended retail. 75
percent of the market is covered by our present distribution. We will not broaden our distribution
to include the jewelry shop retail channel at this time. To complement our market goal, we will
grow our sales personnel by 5% and hire a sales trainer. A million Ghana Cedis advertisement
will emphasize the watch's unusual design, with a focus on print and point-of-purchase displays.
This, as well as television advertising, will be scheduled for two-thirds of the campaign's first six
months. Our advertising voice share will be significantly greater than the four industry leaders in
order to gain consumer awareness in the first year.
FINANCIAL ANALYSIS AND EXPECTED RESULTS
We anticipate a forecast break-even in the first year.

INTRODUCTION
Lee’s Watch was born out of the owner's passion, love, and commitment for watches in order to
meet the market's growing demand and styles, as the name suggests. The company's goals and
objectives are to provide the best and most reliable services to watch enthusiasts in Ghana. The
company's first investment is ₵30 million, with yearly goal earnings of ₵50,000,000.
Furthermore, the company will continue to develop and adapt to the changing needs of its clients
in the area. Apart from serving the local community, Lee’s Watches plans to expand its
operations to neighboring cities and towns in order to broaden its client base before expanding
into other nations. For the time being, the firm will focus on Lee’s Watches shops as a platform
where locals can obtain the high-quality services that customers need. Furthermore, the outlet
will give the most cost-effective ways to market the company's products by allowing clients to
check out these services while still paying for them. The Lee’s Watches Company will tailor its
services to satisfy all of the region's clients' interests and needs. The company's target market is
mostly made up of passionate internet users who use the internet to contact with friends and
family on a regular basis.
SITUATION ANALYSIS
Internal Analysis
General's principal business is manufacturing high-quality timing movements and plastic casings
for industrial timing devices and consumer clocks. The goal of this market strategy is to provide
consumers with a high-quality, innovative watch. For both men and women, it will be available
in a number of styles. Other uses for the casing and movement are not included in this plan.
Our 30 million Ghana cedis profit in 2023 is 7.5 percent of total sales. Sales growth has slowed
to a 5-percentage-point yearly rate. Current market growth is predicted to remain moderate. The
LEE'S watch is one of a number of projects that might boost General's growth pace.
Organizational Audit
The data shows that the firm has grown tremendously over the years, particularly in terms of the
services supplied by the LEE'S Watches Company in the region. Furthermore, as clients become
more aware of the company's unique items, demand for such products has grown. According to a