Seiko undertakes new brand strategy for Thai market

After the Japanese parent corporation designated Harumitsu Akashi to take the position of managing director of Seiko Thailand, he said he planned to shift the focus of the brand’s strategy towards communication of key messages. Brand strength will be emphasised, particularly in quality, with major concentration on watches in the medium and high price ranges.
The Seiko brand will feature exclusivity for the Thai market.
Akashi, who has worked for Seiko for more than 30 years and was appointed to handle the Thai market early this year, said it was obvious that watch-sales volumes had plunged because of overall economic conditions in this country. However, the economic hardship has probably affected all commodities.
There must have been times when consumers decided to delay buying new watches, as these may be considered luxury goods, but Seiko has not suffered much because the brand focuses on male consumers aged 30 years and up. Therefore, Seiko’s customers have financial stability.
In addition, Seiko has never compromised when it comes to quality and precision, which is in line with Japanese standards. This way, the brand has achieved the confidence of customers.
Current trends feature distinct watch technology and smart-watch lines. Seiko is now undergoing the invention of new technology to respond to today’s lifestyles.
Seiko has projected sales growth of 5-10 per cent from last year as the company is uncertain about the improvement of economic conditions. It will be coming up with a wide array of limited editions, and will continue to hold marketing activities and sales promotions.
Key targets will be existing Seiko fans and new customers looking for quality watches. Seiko will join the “EmQuartier World Watch 2015” event from July 29 to August 17, at the EmQuartier, Bangkok.