Seiko Go Upmarket

2228 WordsNov 14, 20129 Pages
* Executive Summary Seiko Watch Corporation and its predecessor had always been innovative in watch technology development and brought many industry firsts to the watch market, and Seiko was very successful before the 1990s. With competitive environment change started in the 1990s, Seiko found it was not in the right segment of the market for growth, this segment is high end watch market. Seiko tried to break into the high end watch segment, but the attempts haven’t been proved successful. Based on detailed analysis of Seiko’s industry environment, competitive arena, and internal issues, conclusion was drawn that Seiko’s past vision, strategy and structure didn’t support its ambition to be an…show more content…
Though painful, a number of Swiss watch companies such as Patek Philippe, Rolex, and Omega chose to stick to mechanical watch making, and they laughed at last. Below quotation could best describe the situation: We worked really hard in the 1980s where everybody was dead. The quartz movement came in the 1970s, so all the other watchmakers threw away everything, both their equipment and their movements. In the 1980s is when we started to redevelop all our complications. At the time, my father [Philippe Stern] had a vision that only one type of watch should remain - the one with a mechanical complication. He believed there would always be people who appreciate fine mechanisms, whether it's manual winding or automatic. And he was right. It's like a nice painting. It's something unique, rare and made with passion. * Thierry Stern, Patek Philippe President, interviewed by in Sep 2012 In the mid and low end segments, Seiko’s attacks were from all around as technologies were easy to duplicate and consumers really cared about money they were spent, thus if

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