WatchProjects

Topics covered in our second MasterCourse session were: Differentiation and purchase decision, cost structure and supplier shortlist.

DIFFERENTIATION AND PURCHASE DECISION

In the second session of the MasterCourse, we went over the 4 disciplines that watchmaking finds itself at the intersection of: scientific observation, metalsmithing, artisanry and apparel.

This helps to understand why there are four distinct styles of watches: measuring instruments, exploration instruments (land, sea and air), jewellery watches and fashion timepieces.

When it comes to brand differentiation, we also covered a chart of Purchasing Habit model based on the research of Prof. Assael of NYU, and we saw how it can apply to watches.

These slides on "Purchase Decision and Cost Structure" are available on ISUU (https://wdsh.rs/bl), and you can read all about Assael's model of purchasing habit applied to watches in our article "Brand Equity via Purchase Decision" (https://wdsh.rs/bj).

In our first MasterCourse session, we discussed several topics pertaining to incumbent brands and micro-brands.

I describe the gradual "luxification" of products over the last two decades by incumbent brands, which created a void in the supply, that micro-brands are filling.

I offer a criterion for determining the difference between micro-brand, boutique brand and incumbent brand, and I provide estimates of the size of the micro-brand industry:

• The amount of new micro-brand launched in the last 10 years.
• The volume of watches put on the market by micro-brands on a yearly basis.
• The market value that micro-brands represent at the time of writing.

This is a small section of what was discussed during the MasterCourse session. For more, check our home page at blog.watchprojects.com.

Music by Bensound.

Micro-brand MasterCourse, laying the backdrop In our first MasterCourse session, we discussed several topics pertaining to incumbent brands and micro-brands.I describe the gradual "luxification" of produ...