Project background:

A smart watch is a wearable device that integrates information and communication processing capabilities and has multiple functions. In recent years, with the development of science and technology and changes in consumer demand, the smart watch market has shown a rapid growth trend.2021Global smart watch shipments in1.15Billion pieces, expected2025Year reached1.51billion pieces. China is one of the world's largest smartwatch markets,2021The annual market size reached295Billions of dollars, expected2025Year over400Billions of dollars.

Customer pain points:

The customer is a well-known domestic smart watch brand, mainly for high-end consumers, products to health monitoring and sports functions. Customers are facing fierce challenges from domestic and foreign competitors such as Apple, Huawei, and Xiaomi in the market, as well as emerging brands and low-priced products. Through market research, customers hope to understand the development trend, consumer demand, competition pattern and other aspects of the smart watch industry, so as to formulate effective market strategies and enhance brand influence and market share.

Project purpose:

Based on the client's needs, Champu Consulting has developed the following project objectives:

Analyze the development status, trends, opportunities and challenges of the global and Chinese smart watch industry;

To study consumers' cognition, preference, purchase behavior and satisfaction of smart watches;

Assess the strengths, weaknesses, opportunities and threats of customers and their competitors in the smartwatch market;

Propose differentiated competitive strategies and marketing recommendations for customer target markets and target consumers.

Research object:

The project used a combination of quantitative and qualitative research methods to investigate the following two types of objects:

Potential consumers of smart watches: through online questionnaires and telephone interviews, a total1000valid samples, covering different regions, age, gender, income, education and other dimensions of consumers;

Smart watch industry experts: through in-depth interviews and expert symposiums, a total of invited10Experts from smart watch brands, distributors, media, industry associations and other fields participated.

Project Content:

This project mainly includes the following aspects:

Smart watch industry analysis: from the global and Chinese levels, analyze the market size, growth rate, main drivers, main constraints, technology development trends, product innovation trends, etc. of the smart watch industry;

Consumer analysis: analyze the demand characteristics and behavior characteristics of consumers for smart watches in terms of awareness, purchase intention, purchase channels, purchase frequency, purchase amount, usage, and satisfaction with use;

Competitor analysis: analyze the performance and competitiveness of customers and their competitors in the smart watch market in terms of brand awareness, brand image, product characteristics, product price, product sales, market share, channel layout, marketing strategy, etc;

Competitive strategy recommendations: According to the customer's target market and target consumers, put forward the customer's differentiated competitive strategy and specific implementation plan in terms of product positioning, product innovation, price strategy, channel strategy, promotion strategy, brand building, etc.

Project Value:

This project provides value to the customer in the following areas:

Help customers fully understand the development trend of the smart watch industry and changes in consumer demand, and provide data support and reference for customers to formulate long-term strategic plans;

Help customers in-depth analysis of their own and competitors' strengths and weaknesses, for customers to find differentiated competitive advantages and breakthrough points to provide a powerful analysis tools and methods;

Help customers to formulate targeted competitive strategies and marketing programs, and provide effective implementation guidance and suggestions for customers to enhance brand influence and market share.