Therefore, the present research aims at providing a preliminary investigation of the relevance and value of watch mass customization for Australian consumers to establish the economic viability of this practice within the local market and to provide initial managerial recommendations.
The results depict Australia as an attractive, yet challenging market for mass-customized watches due to an immense interest in customization, which is paired with heterogeneous preferences, intensifying competition, and a pronounced brand-consciousness of local consumers. The present research results provide first insights into how to overcome these challenges by devising a positioning strategy and marketing plan that resonate with the needs of local consumers. However, additional research is required to provide more detailed managerial insights and to facilitate the successful implementation of watch mass customization in Australia.
Inhaltsverzeichnis (Table of Contents)
- Introduction and Research Objective
- Secondary Research on Mass Customization
- Prerequisites and Forms of Mass Customization
- Benefits and Risks of Mass Customization for the Manufacturer
- Manufacturer Benefits
- Manufacturer Risks and Corresponding Mitigation Strategies
- Benefits and Risks of Mass Customization for the Consumer
- Consumer Benefits
- Consumer Risks and Corresponding Mitigation Strategies
- Prevailing Approaches to Mass Customization
- Modular Product Design
- Mass Customization Toolkits
- Future Developments in Mass Customization
- Secondary Research on Mass Customization of Watches
- Research Findings on Mass Customization of Watches
- Implications of General Mass Customization Research
- Common Practices Among Providers of Mass-customized Watches
- Characteristics of the Australian Watch Market
- Consumer Preferences
- Retail Structure
- Competitive Landscape
- Primary Research Design and Methodology
- Target Sample Composition and Size
- Survey Design
- Survey Structure
- Survey Administration
- Data Audit
- Final Sample Composition
- Data Cleaning and Outlier Analysis
- Primary Research Findings
- Demographic Composition of the Research Sample
- Lifestyle Variables and Social Media Use
- General Watch-related Behaviour and Preferences
- Watch Ownership Status
- Watch Purchase Behaviour
- Relevance and Value of Watch Customization
- Self-indicated Value
- Conjoint Analysis
- Market Segmentation
- Flexible Segmentation Using Conjoint Utility Scores
- Traditional Segmentation Using Behavioural Variables
- Comparison of Segmentation Results
- Managerial Implications
- Targeting: Attracting the Right Consumers
- Positioning: Deploying the Right Marketing Mix
- Product
- Price
- Place
- Promotion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research aims to assess the relevance and value of mass customization in the Australian watch market. By examining consumer preferences and the competitive landscape, the study seeks to determine the economic viability of this practice for local businesses and to provide initial managerial recommendations.
- Mass customization in the watch industry
- Consumer preferences for customized watches
- The Australian watch market
- Economic viability of mass customization in the Australian watch market
- Managerial implications for watch companies
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction and Research Objective: This chapter introduces the research topic, provides background information on mass customization, and outlines the research objective. The study aims to understand the relevance and value of mass customization in the Australian watch market, considering consumer preferences, competitive dynamics, and the feasibility of implementation.
- Secondary Research on Mass Customization: This chapter explores the theoretical framework of mass customization, including its prerequisites, forms, benefits, and risks for both manufacturers and consumers. It also examines existing practices and future trends in the field.
- Secondary Research on Mass Customization of Watches: This chapter delves into existing research on mass customization within the watch industry, analyzing its impact on consumer behavior and identifying common practices among companies offering personalized timepieces.
- Characteristics of the Australian Watch Market: This chapter provides an overview of the Australian watch market, focusing on consumer preferences, the retail landscape, and the competitive environment. It highlights key characteristics relevant to the implementation of mass customization strategies.
- Primary Research Design and Methodology: This chapter outlines the research design and methodology employed in the study, including the target sample, survey structure, and data analysis methods. It explains the steps taken to gather and analyze data on consumer preferences for customized watches in Australia.
- Primary Research Findings: This chapter presents the findings of the primary research, analyzing consumer demographics, lifestyle variables, watch-related behavior, and preferences for customized timepieces. It explores the value consumers place on customization and identifies potential market segments.
- Managerial Implications: This chapter discusses the practical implications of the research findings for watch companies operating in Australia. It provides insights into targeting the right consumers, developing effective positioning strategies, and designing a suitable marketing mix for personalized watches.
Schlüsselwörter (Keywords)
The main keywords and focus topics of the thesis include mass customization, personalized watches, consumer preferences, Australian watch market, economic viability, market segmentation, managerial implications, and marketing strategies. These terms represent the core concepts and research focus of the study, aiming to provide a comprehensive understanding of the potential and challenges of introducing mass customization within the Australian watch industry.
- Citar trabajo
- Natalie Janetzko (Autor), 2016, Personalized Timepieces. An Analysis of the Relevance and Value of Mass Customization in the Australian Watch Market, Múnich, GRIN Verlag, https://www.grin.com/document/1131045
