Meister WatchesOpen Door Marketing

Media ObjectiveMedia Objective is to:● increase brand awareness by 4%● Increase sales by 3%● Increase web traffic by 5%

○ All by the end of calendar year 2014

SWOTT AnalysisStrengths:-Meisters connections and collaborations.-About 70 percent of their profit came from their wholesale business.- The cofounders Kingson Tse & Ryan Pietersz had a passion in customized cars and fashion, which is very vivid in their watch designs.

SWOTT AnalysisWeaknesses:● Social Media Following● Lack of women’s watches● Smaller selection of styles

compared to competitors● Online Sales● Confusing website

SWOTT AnalysisOpportunities:● Creating more brand

awareness through social media using Hoot Suite or Klout

● Women’s watches● Increasing online sales● Increasing retailers

SWOTT AnalysisThreats:-Meister’s biggest competitors are G-Shock and Nixon.-Nixon has a larger percentage of the market share.-Meister has to work smarter and harder to create brand awareness through their target market.

SWOTT AnalysisTrends:● Apparel and accessories are the

fastest growing category of online sales.

● The watch industry is expected to slow down despite consumer’s confidence in the economy.

● Styles are moving to slimmer fits and styles in both accessories and clothing.

Product Category● Watch market is very saturated● Strong competition ● Price ranges in this product category are

significant

Target Audience● Primary target market: 18-35 year old males

○ May include college students to professional athletes● Males with a sense of style, wanting to be

original, yet trendy● Meister = “Master”; individuals with that

sense of confidence are the target market● Secondary market would be females

Positioning Strategy● Elegance, harmony● Luxurious products that demand respect● Priced for young professionals

Main CompetitorsNixon● High brand awareness, High desire ● Expensive productsG-Shock● High brand awareness● Similar product design

Media Strategies● Internet

○ Social Media○ Google Adwords

● Radio● Outdoors● Mobile

Internet● Social Media

○ Facebook○ Instagram○ Pinterest

● Google Adwords○ “mens watches”○ “watches for men”○ “mens watches brands”

Radio● Test market for ad is Las Vegas, NV● 30 second advertising spot on various stations

○ Sports radio - 920AM, 1490AM○ Urban contemporary music - 88.1FM, 98.5FM○ Active rock music - 107.5FM

● Multiple retail stores that sell Meister in Vegas○ Misura (MGM, Mirage, Monte Carlo casinos), CRSVR

Outdoors● Partial Sponsorship

○ Rally cars // drivers○ Drifting cars // drivers○ Used as a stepping stone

● Exchange product for logo placement

● #MSTRofTime below the logo

Mobile● Mass text message● Majority own cell phone or

smartphone● Method is direct to

consumers● Utilize in-app

advertisements

Sales Promotion Strategies

Contest● Use of social media; Facebook , Instagram and

Twitter● Liking or retweeting a picture with the

#MSTRoftime● 3 contestants chosen at random will win a

watch● In addition, five $50 gift cards will be awarded to

show appreciation

Loyalty Program● 20% off next purchase● 20-30% of customers are

repeat purchasers● 20% off select items

○ Off of overstock items○ Will not upset retailers

● Will increase traffic to website

Hootsuite● $9.99 per month● Account Management Software● Manage each social media platform and

schedule content and messages

Newsletter-The newsletter would be released or emailed monthly to subscribers, and also would be accessible through Meister’s social media websites.-The newsletter would contain upcoming events and info about the watch company and where the company is heading.- Once you subscribe via email to the newsletter, Meister will offer you a one-time 10% off coupon to their online store.-This will increase traffic to their online store,and bring in nonusers and price switchers.-Having an active newsletter is very price efficient for Meister.

Black Friday● Mass text message sent out to current

subscribers● 20% off in store, 40% off online● Encourages customers to shop online● 2500 messages sent, first 250 get redeemed

Summary of Budget

Per Month Annually

Total Budget $ 4,000.00 $ 24,000.00

Promotional/Media Strategies

Radio $ 1,880.00 $ 11,280.00

Mobile $ 149.00 $ 894.00

Print $ 300.00 $ 1,800.00

Social media $ 9.99 $ 59.94

Trade show $ 1,000.00 $ 6,000.00

Total for Promotional Strategies $ 3,338.99 $ 20,033.94

Bi-monthly Contest

Cost per watch $ 335.00 $ 2,010.00

Cost of gift cards $ 125.00 $ 750.00

Total for Contest $ 460.00 $ 2760.00

Final Total $ 3,789.00 $ 22,734.00

Thank You!

❖ Professor Bryant

❖ Brent Watanabe