Jack Mason SWOT
To provide an overview of the strengths, weaknesses, opportunities and threats, for a Dallas-based watch brand, Jack Mason. This information will be used to help Jack Mason differentiate itself, and positon itself as more of a lifestyle brand.
- Jack Mason is a watch brand, started in 2015, who has positioned its watches as offering luxury, at an affordable price.
- They offer 6 watch collections, in addition to several limited-addition watches.
- Jack Mason emphasizes luxury and the high quality of their materials. They also realize that watches represent personal status, communicating one's persona, mood, and accomplishments, and to this end, recognize their target consumers seek brands that inspire trust and admiration.
- Their watches come with a limited lifetime warranty, covering manufacturer defects.
- Their watches are designed with a modern aesthetic, but still with a classic feel.
- Jack Mason's brand values are integrity, honesty, respect, and authenticity.
- Jack Mason is found online and at over 150 retailers globally.
- Strengths of Jack Mason watches include quality materials and design, affordable pricing, and unique offerings. They have also found a niche with younger consumers, millenials, and Gen Z, and effectively leverage social channels in their brand marketing.
- The company is committed to designing the highest quality watches, but also educating their consumer base on what quality means, and looks like, in a watch.
- Jack Mason wants to ensure their watch designs are not just trend-driven, but rather, timeless, with the ability to pass along through generations.
- They realize that millenials and Gen Z are looking for aesthetically appealing watches, at an affordable price, without enough of an eye toward quality. Their education regarding quality and quality materials is part of their marketing message toward Gen Z and Millenials.
- They also engage closely with their consumers via social channels, which allows for brand communication, customer engagement, and the ability to encourage their customers to advocate for the brand.
- This reviewer summarized their experience with Jack Mason watches as, "Although a new player in a market full of legendary brands, Jack Mason does an outstanding job at proving a huge collection of watches whose charm and sophistication can match up to the standards set by the historic brands."
- This reviewer commented with respect to the quality, affordability, and uniqueness of Jack Mason watches, that "Jack Mason offers affordable timepieces with designs matching those usually found on more expensive brands. The company also adds a bit of Texas-inspired style to their creations to give the products a unique look you won’t see in other watch collections within their price range".
- Jack Mason's key weakness is its low awareness and brand recognition.
- Beyond lack of brand awareness, the company does not offer frequent price discounting or free shipping.
- Opportunities for Jack Mason are greater awareness and brand recognition, continuing to launch quality innovations, such as 'the green scheme' watches, and international expansion. Additionally, continuing to leverage their social channels is an opportunity for Jack Mason, in terms of brand communication, introducing new launches, encouraging brand advocacy, and building their positive reputation through reviews.
- Leveraging technology in their product and marketing (such as offering the opportunity to 'try on' a watch virtually) may be an opportunity to reach new audiences.
- Their current PR efforts focus on communicating their key message as a must-have purchase, as well as educating their customers about quality. They are also focusing on launching new products and promotions throughout the year, to keep the brand top-of-mind, and meet consumers' needs and tastes.
- Currently, Jack Mason's Facebook site has 10,500 followers, and includes highlights and details of their new product launches and very positive customer reviews (average 4.5/5.0 stars across 66 reviews).
- Reviews include, "Unbelievable quality for the price. Totally in love with this watch. Never heard of them until my wife just bought it for me. Move over Rolex.", and "This company has quality products and the most FANTASTIC customer service I have ever dealt with online or in person! Caroline Betts was responsive and went above and beyond! You have a customer for life and I will recommend you guys to all my friends and family!"
- Some threats to Jack Mason's business include counterfeit watches and high production costs for luxury watches.
Summary of Our Early Findings Relevant To The Goals
- In this first hour, we were able to assemble a summary of strengths, weaknesses, opportunities and threats for Jack Mason. We were able to ascertain that Jack Mason is known for offering a high quality product, at an affordable price, and its main weakness (and opportunity) is its limited awareness and lack of brand recognition.
- Our recommendations are based on the information we were able to uncover in this first hour.
Proposed next steps:
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