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Research Outline
Prepared for Amanda K. | Delivered March 12, 2020
Jack Mason SWOT
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Goals
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.
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Early Findings
Company Overview
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.
T
h
e
y
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
Strengths of
Jack Mason
watches include quality materials and design, affordable pricing, and unique offerings. They have also found a niche with younger consumers,
m
i
l
l
e
n
i
a
l
s
, 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
m
i
l
l
e
n
i
a
l
s
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
M
i
l
l
e
n
i
a
l
s
.
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".
Weaknesses
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
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
B
e
t
t
s
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!"
Threats
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.
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