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A WATCH OR AN ‘ICE WATCH'? by ginto paul
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A WATCH OR AN ‘ICE WATCH'? |
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Online Shopping,Science & Technology,Collecting
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It is available in every color, and is very desirable. We are talking about the well known ICE Watch. The watch owes its popularity to a good marketing strategy which aims young & old, but much desirable among youth. ICE Watch is a Belgian success story, which’ idea was launched in 2006 in Hong Kong and brought on the market in 2007. The founder Jean-Pierre Lutgen created a practical product which consisted of 10 parts and available in nearly all colors. In a short period of time the brand became a great success. Within this, social media has played and still plays a significant role. The popularity of social media among youth have increased the ‘brand awareness’ significantly. This effect is also called viral marketing. It is the spread of a brand via social media sites, which circles as a virus after many ICE Watch fans praising the brand, or in terms of social media ‘like’ or ‘share’ the product. This method of marketing is largely to thank the juvenile fans, which at the same time are intensive users of social media. The youth accepts ICE Watch as a fashion-designed accessory with which you can make a personal statement. Famous role models like Katy Perry, David Guetta and the Black Eyed Peas have contributed to the increasing popularity through their promotion. As result, the watch has become a true trendsetter as well as a bestseller. Now, having sold 4 million watches and with a production of 500.000 on annual basis, the watch is available in more than 90 countries worldwide. Despite its exclusive image the product is, with a price starting from 59 euro’s, affordable and accessible for everyone. On demand, the watch can also be adjusted to one’s personal taste, naturally for an extra price. The colorful watch that can serve as a collector’s item owes its success partially to the stackable and cube shaped ‘Lego packages’. It is the same package that led to commotion at the end of 2011, when LEGO sued ICE Watch for the reason that the watch brand would have become successful due to its typical Lego packages. In December 2011 the court decided in favor of Lego, with a penalty of 10.000 Euro’s for ICE Watch, for each day that the brand would continue selling its products in these packages. Currently the brand counts 2.1 million likes on Facebook with continuing its success under the motto ‘Change. You can’. Under this motto lies a great innovation strategy; the management receives feedback from its distributors and customers worldwide, after which the demands en desires of ICE Watch fans are being evaluated and considered in the innovation process. Concerning feedback, again social media plays a significant role; nearly all of the demands and reviews are received through this way. Knowing this, and without attaching much importance to the competition, Jean-Pierre Lutgen continues: “We have no interference with competition on global scale. Our marketing strategy adjusts itself to that and tries to optimize the effects. We use all tools in order to be close to the ones who love us. A good example of this is social networks. Despite the fact that our products are being copied and we do not find it acceptable, it is an honor to know that our products are trying to be imitated. We guard the market continuously and show our existence and presence very emphatically”.
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ICE Watch, ICE Watch,
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