Alejandro Tomás

'Edition Uno'

Assumptions:
High Involvement
Extended Problem Solving
Conscious Information Searching & Processing

Consumer Proposition Acquisition Model

• Consumers do not need our watch. They desire it. Working 'professionals'.
• Watch magazines & Social media pages such as 'WatchAnish'.
• Heritage, Craftsmanship, Design & Exclusivity. Rationality vs Irrationality?
• Chosen model out of stock? Different colour dial? Gold or steel?
• Complementary lifetime warranty & payment via instalments available.
• 'Try before you buy period' & regular VIP events for all customers.

Emotional Marketing - Patek Philippe

• Is a £30,000 watch a rational purchase?
• Emotions can override rational and cognitive aspects
• Highly Emotional Marketing = Increased Attention Paid
• Establishing trust reduces the perceptions of purchase risk

Internal & External Factors

• Internal: Self-Concept Approach
• External: Group Influence

Consumer Communication

• Evoked Set - Harrods & WEMPE
• Newspapers - Financial Times
• Celebrity Endorsement - Kanye West wearing our watch?
• Social Media - Instagram accounts like 'WatchAnish'

References

• Baines, P., Fill, C. and Rosengren, S. (n.d.). Marketing. 4th ed. Pages 48-51, 64, 70-71
• https://www.forbes.com/sites/robertanaas/2016/12/09/patek-philippe-celebrat...

"Consumers do not only buy products: they buy the lifestyles, stories, experiences and emotions that products convey."
- Bulmer & Oliver (2004)