The Spanish company Fiesta launched the same name watches – accessories in 2005, a year later her articles have appeared in Russia. Opening Fiesta – is primarily a bright decoration on the original straps and bracelets, richly decorated with stones. What they also show the time, is an added incentive for buyers. Fiesta – splash of brightness and festivity, this watch is able to lift the spirits of their lovely owner. As planned the creators of the markets of many European countries mark filled a niche product, designed for impulse consumption and included in the arsenal of everyday life-affirming adornments.
Opening Fiesta popular in Europe, they have successfully sold and are in great demand. But the experience in Russia was mixed. On the one hand, non-standard format hours were striking innovation in our watch market – people who would not notice and do not pay attention to the new brand, a little bit. On the other hand, the novelty was the reason for caution with respect to the Fiesta on the part of dealers and buyers. So a year later the company has made a serious effort to determine the optimal strategy in Russia.
Reconnaissance in force
Our time market and specific customer demands dictate the manufacturers and suppliers of fashion bijouterie marks its terms should not be overlooked. And during the past year studying marketing Fiesta features of demand and affection Russian buyers. We can say, Fiesta conducted a reconnaissance in force. In several regions with different characteristics of consumption and hours of questioning were interviewed buyers. In some shops the manufacturer used a previously unknown on our watch market instrument such as the trial sale. To determine the dependence of demand on the combination of various factors, he experimented with an assortment of goods and the price level. Great help in this work have sales representative’s brands and brand management company distributor. As a result, a lot of research and experimentation by the end of the summer season has accumulated a wealth of material to advance hours bijouterie level in a wide range of watch shops. Fiesta has received clear and reasoned answers to many questions that arise during the formation of product positioning strategy in the Russian market.
First, the analysis of collected data showed that the direction of non-standard hours of bright accessories-enough perspective in Russia. The Russian fashion market is booming and has huge potential. Our women with genuine interest in turning their attention to the bright, extravagant decorations and respond positively to the fact that they are passing hours.
Secondly, through numerous surveys and experiments was found an optimum range of retail prices for jewelry format Fiesta. Unfortunately, the level of income in Russia is significantly below the European average. There Fiesta – often the impulse buy to set the mood. Financial capabilities of most Russian customers of shopping centers, non-premium class, makes it difficult to spontaneously acquire the original clock-jewelry in your price range from 2,500 to 3,500 rubles. The results of experiments in a number of suburbs and watch shops distant regions in the third quarter of 2007 enabled the company to determine the optimal price range, which maximizes not only the quantity sold models, but also revenue. Also as a result of the demand analysis was formed best assortment of the collection.
All this made it possible already at the beginning of the fourth quarter to develop and implement complex marketing event, which significantly changed the situation. The manufacturer did not simply drop the price. Instead, they conducted an advertising campaign aimed at providing additional discounts. This not only reduces the price of hours before the optimum level, but also has an additional incentive to buy. In this case the manufacturer has not forgotten about earnings shops: all participants in the experiment provided an additional discount, which allows keeping more than a profitable margin trading. As a result, a substantial reduction in prices and assortment optimization in the fourth quarter of sales in the retail outlet has grown to 20-30% of the average monthly balance of goods. But most importantly, the structure of purchases Fiesta in Russia was the same as in European countries. Thus, all the marketing solutions practice received a confirmation.
A decision on future policy Fiesta in the Russian market has not kept waiting long. In the first half of 2008, the range of mark will consist solely of products, with retail prices ranging from 1,500 to 2,000 rubles. The quality of design and hours will remain at the level of elite bijouterie jewelry. Undergo significant changes and exhibition equipment brands. Updated displays will enhance the attractiveness of the product to customers.
Falling prices in any case would not affect the interests of the stores. The manufacturer still provides the ability to make retail sales in hours Fiesta: Wholesale price for dealers still would be 50% of the recommended retail price. The entire range of last year, already presented at the new prices will be successfully combined with the new arrivals.
However, not everything has changed so dramatically. Concept has remained the same product. In a happy possessor Fiesta models should always be a good mood because the brand credo – to give women the beauty, joy and good humor. The company continues a policy of creating specific accessories, bright colors, which enabled the brand to become a recognizable Fiesta in the world of European fashion.
Results of Christmas sales, dealers received from Moscow, and in most regions, give every reason to believe that this is only the beginning of the Spanish brand effectively in the Russian watch market.