Baume & Mercier Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Baume & Mercier through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Baume & Mercier Product Strategy:
Baume & Mercier is one of the leading premium watch and accessories manufacturer. It has a diverse range as a part of its marketing mix product strategy. In Baume & Mercier, there are variants of Classima, Clifton, Clifton Club, Clifton Blaumatic and Hampton in men’s category. For women, there are different sets of Classima, Promesse, Hampton, Clifton and Linea. Apart from watches, there are watches presented as corporate gifts, wedding gifts, holiday gifts and birthday gifts as well. It achieved a “Poinçon de Genève” quality hallmark in 1919, which is a testimony to the kind of watches it produces since ages. Baume & Mercier tests every single timepiece including vibrations, saline mist, vibration impacts, accuracy standards and power reserves.
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This concludes the product strategy in Baume & Mercier marketing mix & strategy.
Baume & Mercier Price/Pricing Strategy:
Below is the pricing strategy in Baume & Mercier marketing mix strategy:
Baume & Mercier watch prices are pretty high as compared to the cost of a normal watch, but the high prices are justified by the quality the offer. Since it directly competes with Rolex, the prices are supposed to be high.
The prices of the special edition watches are even higher, because these editions offer something unique to the user, be it a feature, the new look or some new fancy dial. Many of the Baume & Mercier watches are over $2000.
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Baume & Mercier Place & Distribution Strategy:
Following is the distribution strategy in the Baume & Mercier marketing mix:
Baume & Mercier positions itself as a brand which is aesthetically pleasing, and signifies quality. It tries to capture the “moments” of our lives by showing us the “right” time to do things, and to hold that moment. It built its reputation by manufacturing watches of creative shapes and introducing sports luxury watches, which was its unique selling proposition at the time. Since the prices are high, it targets the upper segment of men and women who have the purchasing power to buy its watches and accessories. Also, it enjoys the brand image of its parent company and leverages it to its full potential. Its merger with Ethos Watch Boutiques in 2016 strengthened its grip in the Indian Market.
In the launch, it displayed collections of the 2016 Petite Promesse and The Limited Edition Sheldon Cobra and Clifton Complete Calender.
Baume & Mercier Promotion & Advertising Strategy:
The promotional and advertising strategy in the Baume & Mercier marketing mix is as follows:
Baume & Mercier brand is known to innovate and promote itself in unique ways on various digital platforms. Its digital campaigns have proved to be a hit among the customers. This is how it differentiates itself as a luxury brand symbolizing quality and no compromise on any front. During the launch event of its merger with Ethos, the watches were displayed alongside the food delicacies served on the dinner table, which was itself pleasing to the eye. This was a unique way to appeal to the audience. This completes the marketing mix of Baume & Mercier.
About Baume & Mercier:
Baume & Mercier is a watch and accessories making firm headquartered in Geneva, Switzerland. Founded in 1830, it is a subsidiary of Richemont Group. William Baume and Paul Mercier are the founders of Baume & Mercier, hence the name.
Geoffroy Lefebvre is the current CEO. The two major competitors of Baume & Mercier are Rolex and Tag Heuer.
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