Swot Analysis Of The Maison Dupont’S Brand

Maison Dupont finds itself currently in a competitive market and fast growing economy. The brand predicts to use its strengths as an ability to respond in a timeously manner to the targeted market through the use of high quality products in the luxury industry. Also, through highly dedicated marketing and quality management, Maison Dupont plans to become a well respected and known leader in its respective industry. Its management and employees will have a wide and extensive knowledge of the local and international markets and expertise of all products associated with the brand. However, Maison Dupont is aware of the strong and similar product competition already established in the market through other brands. Below are the strengths, weaknesses, opportunities and threats.

Strengths

• Strong market segmentation with diversified age groups, ensuring success rate in at least one market.
• Family owned brand with previous experience in the watch industry and strong organizational structure.
• Detailed marketing plan with clear goals and strategiesHigh quality products.
• Personalization services offered on productsBrand will offer 2 year product guarantee.
• Strong brand connection to family history.
• Management established internationally and internally to provide for excellent customer service.

Weaknesses

• Establishment of brand with an unknown business name.
• Establishment on the internet may produce technological challengesNot currently connected to a network of influencers.
• No previous knowledge on e-commerce (B2C).

Opportunities

• Ability to grow a wider image in the US, where competition is lowerIncrease in e-commerce business and growth in the economy can increase sales.
• Luxury swiss watch sales have increased in the US, allowing for potential sales in the brand.
• Many online funding platforms available for this industry and market.

Threats

• Entering luxury industry and facing potential declineEstablished successful competitors with similar products in same marketNew marketing strategies and ideas established by competitors V. Marketing & Sales plan

Maison Dupont is currently working on producing a website to provide a platform for its e-commerce business. The website will be the main selling point for the company on year. It will sell all the products ever designed by Maison Dupont and will always be available for clients after boutiques are set up. The instagram page will also be linked with the website, so that clients can be redirected to the e-commerce site in a matter of seconds. The production of the website will be done by Daniela Dupont (CEO) and a subcontracted web designer. It will strive to accept all forms of digital payment like apple pay, paypal, visa and mastercard. The launch date will be set for 10 December, 2018.

Website marketing strategy

Maison Dupont will rely on five sources for the marketing of the website. These will all be done one month prior to the launching of the website. Listed below as follows:

• Printing of the web link with illustrative advertisement.
• Distribution of printed advertising for the website at local universities.
• Paid advertising on google ads search engine in the related markets of search.
• Paid advertising on instagram for local cities.
• Sharing of a facebook post campaign.
• Pricing strategy.

The pricing strategy will be to initially undercut top established competitors by 15%, using a market penetration strategy. Then, pricing is planned to be competitively adjusted to direct competitors. The price per watch is expected to be around 155€ - 285€, depending on the model. Most people spend an average of five hundred dollars per year on luxury watches, and when surveyed prospective clients said they would spend about one hundred to two hundred dollars on a single watch. Therefore, it is great that the price point for Maison Dupont watches are less than five hundred dollars but still a decent amount to maintain its prestige as a luxury item and still be accessible to the desired market. Men’s accessories will range from 65€-135€. Women’s accessories will range from 88€- 185€.

Promotion strategy

At Maison Dupont, the company will manage promotions through the use of social media platforms. Once the website is established, a 25% promotion code will be given out to each person who subscribes to the mailing list. This will gain followers to the brand and possibly could allow clients to share the news with their friends, thus gaining brand recognition. A special promotion code of 30% will also be given out on each client’s birthday. On Instagram, once a stable page is made and brand ambassadors have been established, a series of promotions will take place throughout the year.

There will be special promotion codes for holidays, influencer discount codes, giveaway promotions and other activities. Once promotions are posted on the platform, people must share the post. The main idea for these promotions is to gain new followers to the brand and become one of the most well known brands in the industry. On Facebook, promotions for winning free Maison Dupont products will be created if the posts are shared and those followers follow the page back. The company will strive to produce all kinds of innovative incentives to gain as much recognition in the industry, and doing so online is highly effective on an international level.

Sales strategy

Maison Dupont’s sales team will consist of Daniela Dupont (CEO), two family members of the company will serve as the sales directors in the US and EU regions. Three sales vendors in the Miami boutique on year two. Three other sales vendors in the Cannes boutique on year two. Two extra sales vendors and one manager in the Miami boutique on year three. Two extra sales vendors and one manager in the Cannes boutique on year three. Three freelancers: photographer, video editor and web designer will be subcontracted through a marketing agency to help the company produce marketing assets.

Once all employees are hired, they will be trained on all product categories as well as the specific products within each category. They will also be trained on how to service a luxury client, so that clients feel special when they come to shop at Maison Dupont. The better informed and trained an employee is with a client, the more information it can share with a client, and the increased likelihood a sale will occur. Also, the way the employees treat a client is what will distinguish Maison Dupont’s brand from that of others.

Next, order processing will occur through constant communication between Daniela Dupont, the family member appointed director of the US region and the other family member appointed director of the EU region. All products will be designed in France. Products will be manufactured in Italy and China, shipped back to France. Then finish assembly in France, and shipped to Miami. Once in Miami, the products will be nationally shipped out to clients who have made a purchase. If the purchase is made in Europe, UK or Russia, then they will be shipped directly from France.

Sales forecast

The following charts display the sales forecast for the next three years. Profit can be seen to be highest in times of special holidays like Christmas, Mother’s day and Father’s day months, Sale month (July) in France and Black Friday (November) month in the United States. As the years progress, profit skyrockets due to the opening of the two projected boutiques. Overall sales forecast seems to be positive and profitable. If all goes well and as projected, Maison Dupont can earn over 5 million euros by the end of 2020.