Question

Rachael is the owner of a watchmaking company. She has changed the company’s marketing mix and decided that she will target wealthy, craftsman-quality-seeking older individuals. Rachael retooled her factory, purchased premium materials to construct high-quality watches, and decided to distribute them only through exclusive jewelry stores with watch prices starting at $5000. What promotion strategy would support the rest of her marketing mix decisions?

Answer 1

Answer:

The correct answer would be, Partner with an older, well connected socialite couple to endorse the brand.

Explanation:

As Rachael is the owner of the watchmaking company and has the authority to change the marketing strategies and mixes for the brand. She decides to totally change the target market for her brand. She now focuses on old wealthy, craftsman who seek quality. So now she needs to promote her new marketing mix, to target her new market. So for this, the best strategy which she can use in support of her marketing mix would be to make an older well connected socialite couple, her partner, to promote and endorse her brand. This will help her promote her new exclusive collection and can target the old wealthy quality seekers easily.