Case Study of a leading luxury Watch Brand
Use of advanced Analytics for Customer profiling and perceptions Mapping
The Luxury Watch market in GCC was studied using Customer Analytics techniques and market research to understand Customer profiles and understand customer perceptions related to luxury watch brands . Customer perceptions of Brand Personas associated with the leading luxury brands was also generated for use in Branding, Advertising, Sponsorships and appointing suitable Brand ambassador for the brands.
In this project our solutions for both market research and Big Data Analytics were used. Data was collected from a very large sample of luxury watch buyers on various aspect of their attitudes as well as buying and usage habits and behavior to luxury watch .
The collected data was then analyzed using advanced big data analytics techniques for Customer profiling and market segmentation based on over 15 demographic and psychographic variables and nine luxury watch buying and usage behavior . Furthermore Text and sentiment analytics algorithms were used to identify the Brand Personas associated with the Top Ten Luxury brands as per the survey results.
Very interesting and insightful results were noted highlighting subtle differences in Brand Personas most associated with the leading luxury watch brands with clear indication of target customer segments for each of these brands. The Analytics results were used by the retailer for accurately planning different styles of in-store services, branding, advertising and sponsorships for the different segments of discerning luxury consumer segments.