A Research On Product Strategy Of B Watch Accessory Company

With the rapid development of the domestic luxury market and the guidance of the government’s overseas consumption return policy,China has become the world’s largest market for middle-end and high-end watches,with great potential for future growth.With the growth of watch consumption,the demand for watch accessories will also accordingly increase.The products of domestic watch accessory companies are positioned in the middle-end and low-end market,showing low industry concentration,large number of small and medium-sized enterprises,similar product positioning,and low brand recognition.The brand competitiveness can barely be compared with centennial enterprises in Switzerland.B company is an accessory e-commerce company with its own brand,its main product is watchbands.The present research takes B Company as an example to study the company’s product strategy.Using the methods of survey and quantitative analysis,the present study firstly identifies the problems of B Company in product-related issues through field research,including the high return rate of goods due to poor product quality,failure of installation,bad reviews of customers and slow logistics and delivery.Through extensive literature reading,the author searches,consults and summarizes domestic and foreign literature on product strategy and marketing.This study collects feedback and needs of customers by questionnaires,and then explores the causes of these problems from the perspective of marketing.It is found that the reasons for these problems of B Company lie in three aspects: product positioning in the low-end products,which is inconsistent with the target consumers’ positioning in the mid-to-high-end market;low-end product portfolio does not fit market positioning,product portfolio is unreasonable;the level of product support service is low.On this basis,the present study proposes suggestions of optimization for product strategy.B Company should currently focus on the consumer market of mid-end products,adjust product portfolio,improve product support services,enrich the content of services and build the brand image of product.