The Product : Analogue Wristwatches

Australia’s economic status can be assessed using a range of economic indicators such as unemployment rates, Gross Domestic Product (GDP), inflation rates and interest rates. The economy can affect Australian business’s greatly causing them to flow through the business cycle. The business cycle purpose is to describe the overall trends of the economy and can show growths of high or negative. The four stages in a business cycle are: expansion, this is when the economy has high demands; peak, this is the turning point of the expansions before the economy falls down. A contraction is when the demand for goods and services are low; and trough, is the opposite of a peak. To evaluate Australia’s current economic status factors such as unemployment

This report will show an overview of the current state of the Australian economy and its management by the Federal government through examining economic indicators such as economic growth (GDP), unemployment, inflation and trade.

The figure obviously had not return to pre-crisis level. Moreover, recent commodity prices had fallen significantly which will affect Australia’s short and long term economy.

By 2016, Australia assess that mining had raised genuine per capital household extra income by 13%, raised genuine wages by 6% and brought down the unemployment rate by around 1¼ rate focuses. There have additionally been cost. The mining has prompted a huge valuation for the Australian dollar that has weighed on different enterprises presented to exchange, for example, assembling and farming.

The world price of Australia’s mining exports has more than tripled over the past decade, while investment spending by the mining sector increased from 2 per cent of GDP to 8 per cent. This ‘mining boom’ represents one of the largest shocks to hit the Australian economy in generations. This paper attempts to quantify some of its effects, using top-down analysis of the Australian economy. It will show the mining boom has substantially increased Australian living standards. By 2016, we estimate that it had raised real per capita household disposable income by 13 per cent, raised real wages by 6 per cent and lowered the unemployment rate by about 1¼ percentage points. There have also been costs. The boom has led to a large appreciation of the Australian dollar that has weighed on other industries exposed to trade, such as manufacturing and agriculture.

Unemployment: As can be seen in Fig 3 below, the unemployment rate in Australia has recently dropped below 5.8%, which is the lowest it has been for over 20 months. This is despite the economy struggling over the previous 12 months due to a fall in investment in the mining industry. This has led to the Reserve Bank of Australia (RBA) reducing interest rates on two occasions in the past 12 months to encourage the non-mining sectors of the economy to fill this void and invest in resources, but some businesses are still reluctant to spend money. NAB economist Tapas Strickland said he expected strong jobs growth to continue into 2016, stating “ The forward indicators, such as jobs ads, suggest employment growth of 2% a year, and when you do the calculations, that implies 20,000 (jobs added) per month”. (Guardian, 2015).

Employment in Australia is on the rise with most people who are willing and able to work now having the opportunity to do so. Economists consider 5% unemployment which was the value in January recorded by the Australian Bureau of Statistics. Greater number of jobs created because of factors such as the mining boom and the recovery effect in Queensland because of the floods will further lower the unemployment rate. This will have the effect of consumers having more disposable income thus requiring an increase in long term interest rates.

The benchmark investment rate in Australia was last recorded at 2.25%. Investment Rate in Australia found the middle value of 5.13 percent from 1990 until 2015, arriving at an unequaled high of 17.50 percent in January of 1990. Inflation Rate in Australia averaged 5.21 percent from 1951 until 2014. Customer costs in Australia rose 1.7% during the time to the December quarter 2014, the slowest yearly pace in more than two years as petrol costs dove. Australian yearly inflation rate abated to 2.3% in the second from last quarter of 2014 from 3.0 % in the past period, determined by a fall in cost of electricity, after the removal of tax duty on carbon discharge beginning early July. An alternate key variable that impacts the business is the unemployment rate. While the unemployment is staying high it is normal that RBA will keep the investment rates and trade rates low. Unemployment Rate in Australia diminished to 6.30% in February of 2015 from 6.40% in January of 2015. Unemployment Rate in Australia found to be in between 6.91% from 1978 until

There has been a rapid growth in the service sector jobs and a strong decline in manufacturing employment (Murphy and Watson, 2009). Since the economic boom in the 1950s and 1960s, the Australian economy has been unable to stand the growth of living standards appreciated by households in that period.

I close my eyes. I wake up on the cool cobblestone street. Raindrops break their fall in dark untidy tufts of my hair. There is something in my pocket.

Additionally, the battery life of a smartwatch is limited, and it has to be frequently charged. There are inevitable technical glitches and complexities associated with a smartwatch. The Apple watch needs to be paired up with an iPhone and it is only compatible with newer iPhone models. Therefore, due to these reasons, the luxury watch industry does not face an imminent threat of losing most of its customers to the smartwatch makers in the next decade. However, at the same time, the industry also cannot ignore the risk of losing its customers who love technology. The desire to display style with status can now be fulfilled through smart watches made by strong brands like Apple. The luxury watch retailers have witnessed a decline in the revenue in 2015 as compared to 2014, the same is shown through the below graph. The decline in revenue correlates with the increase in units of smart watches sold, this was more so in the last quarter of

Audi watch: when Purchasing an Audi car the customer will receive an Audi watch with the brands own exclusive design. The quality and aesthetics of the watch will be dependent on the type of model car the customer purchases. An example of this will be a customer who purchases an Audi A5 will receive a higher quality watch than the customer who purchases an Audi A3. An introduction of a watch line for Audi will enable the brand to branch out its products offerings. This will bring value to the brand in the form of exclusivity as the watch will only be available to those who have an Audi car creating a sense of exclusiveness for the brand and customer.

The characteristics of Piaget Altiplano are the thinness, generously - sized dials, automatic and infinitely small. The benefits of Piaget Altiplano are its value and satisfying the female consumer esteem needs. According to Maslow’s hierarchy of needs, esteem is defined as the individual’s need to be recognized and respected by others such as by owning a prestigious watch like a Piaget Altiplano. This may contribute to satisfying the female’s esteem needs (Elliot, Rundle-Thiele, and Waller 2012, 129). There are extra services that the consumers get from purchasing Piaget Altiplano such as customer service, warranty, guarantee, care and maintenance. Piaget Altiplano

The target market of Hublot aims to the young entrepreneurs at the age of 25~45. Compared with other luxury watches consumers, those entrepreneurs are younger, and they prefer the sense of future plans. At the same time, they are the generations of the “Internet”. Take the USA and China for example, most Internet users are 20~40 years old. The are more likely to accept the creative products rather than the historical classic ones, and they are believed to be influenced by the information on the Internet much easier.

In March 2015, Greg Jericho published an article called Weak, weak growth and six things about the state of Australia’s economy that outlined how in the past 6 out of 10 quarters the Australian