Customer Types and Segments

By Julia

Identifying a typical customer of Swatch is a real challenge. Swatch products represent high quality and low price at the same time. A typical customer could be seeking for practicality or a trendy statement peace at the same time. The playful and innovative design  is appealing to teenagers and younger target groups, but Swatch watches has been seen also replacing a Rolex on beach holiday.

We recognize four common consumer market segments: geographic, demographic, psychographic and behavioral segmentation. Geographically speaking, Swatch is global brand and their products are available world wide. When it comes to demographics, the Swatch customers are mainly young and "young in heart". In many families a Swatch watch could be considered as the first watch if a child, when you are still learning how to read a watch. Anyhow, the product range doesn't exclude middle-aged or even senior target groups. Psychographic segment might be the most challenging, but without doubt Swatch fits for customers that value quality, simplicity, practicality and durability. Swatch definitely suits for people who appreciate doing sports and adventures, because the watches can handle splashes and hits. At last but not least, the behavioral segment is based on price sensitivity and customer loyalty. Swatch watches are affordable and offer good value for money. The customers appreciate the possibility to purchase the favorite watch in several colors matching with every outfit. For younger customer, Swatch could be the only brand, but older customers might appreciate also other brands for different occasions. 

To wrap up the customer types, an ideal Swatch customer would be young, trendy, fun loving and price savvy person.

Source: www.quickmba.com/marketing/market-segmentation/