Horological Meandering

so help me scratch it.

My head was itchy when I looked at Kong's and SJX's posts about Urwerk and MB&F events in Singapore which were organised by the same retailer, THG. Why would a retailer spend so much energy and time to organise an event for independent small companies which probably survive without much fanfare. MB&F HM2.2 is only 8 pieces, THG may get maybe 2 to 3, and judging by the the notorious ability of the famous watch pusher, they would be gone maybe in 2 weeks. CC1 was also sold out. So what were the events for?

If AP/Rolex/JLC or event FPJ set up promo events I would understand it, because their watches are geared toward mass market compare to these small independents.

In the last event of Kari and Roman, all the watches were sold before the dinner. So what's the purpose of the dinner? And maybe I was wrong, out of 4 tables (+-40 people) maybe only 10 people were potential buyers, the rest were "gawkers" and "droolers" (before anybody get angry with over this sentence, I have no hostile agenda or feeling toward gawkers or droolers, in fact I will surely gawk and drool at most fashion events, but alas nobody would invite me ). Why don't THG just calls these 10 people, send them pictures and price and start a bidding process, it might even fetch higher price.

IMO, Kari shoud not even need to attend this event anymore. Watch maniac patiently wait for his products, and those watches were sold during assembly process. So why would he bother to endure more than 10 hours in the plane to come to a hot humid place such as Singapore if the watches were fully booked?

Just want to know the business rationale of such an event.

cenitchy@jkt

This message has been edited by cen@jkt on 2009-11-14 09:50:28

for it".

Kari, Roman, or Max help to foot the bill.

cen@jkt

sometime hype need to be created so the rest of 10 will be excited of the coming products

for THG, will create a name they are carrying exotic product,so rest of 10 will think of THG first before look at others

Yes, maybe part of the reason is to create an image of THG as the major purveyor of ultra niche ultra luxury watches. And the event must have some 'watch celebrities' attending to create a bonafide image. And the celebrities must have an event to attend to. Mutual benefit, and the appearance fee is only a dinner .

On the other hand, I disagree with you that the feeling of 'wow' for these ultra niche watches can be easily transfered over a simple dinner. Those that purchase Urwerk, Kari, or Roman watches don't do it on impulse. The act of purchase require commitment, patience, and a serious spare change. So I don't think a simple dinner can achieve this effect; but if they succeed, I'm the first to whisper in awe: 'wow!'

So when we are attending an event are we the promoters, marketing accesories, or the potential customers?

cen@jkt

or potensial customers.....either, suit you very well Cen....ha...ha...

for me, neither as I have not reach this kind of siaoness (crazyness) level yet .....LOL

Have a Great week ahead...

 

this could be the marketing plan for and beneficial to THG?

May be and may be... the independents need to create a bigger name for their bigger price tag for their future products.

Sorry, my head is not itchy at all.

Regards

Ling

1) THG branding image

2) Spur interest for future pieces

3) THG maybe get more pieces for allocation in the future for hosting an event like this as a condition?  Who knows.

4) Use up allocated events budget before years end

5) The other 30 may not be potential buyers at the moment, but they possibly could turn into potential buyers 5-10 years from now.  If I were in sales, I would rather have as a client a young aged millionaire rather than a billionaire who's 70 years old.

Cheers,
Anthony

 

 

This message has been edited by AnthonyTsai on 2009-11-15 20:57:21

I believe THG spends this sort of time, money and effort for a number of reasons.  First, I think it is easier for them to get a smaller, independent watchmaker to attend their event than say, someone with a broader production line/base like FPJ.  He simply has more to gain by getting out there, meeting people and spreading the word.   I wouldn't be surprised if some of them actually enjoy getting out there and meeting their "fans".  Independent watchmakers are purebred in their own passion and love nothing more than talking about it with those that "get it".  And Singapore is no doubt a substantial market in the watch world that does.  A retailer such as THG has much to gain from such events.  Their name is more likely to be remembered and respected if it is attached to a memory of an evening with good food, cocktails and entertainment with a famous watchmaker than perhaps a simple one page ad in a glossy magazine.  Those of us who read about the event are also more likely to remember the name.  In the retail industry, it is probably smart and saavy business planning to think more about the sales you still have yet to achieve rather than the ones you already have.

aside from Anthony & Pings well explained reasonings, in simple words, its economical words on mouth advertising, customer services, & a good time.  When it come to pick up another watch now or in the future, the decision which distributor to get it from may well be decided with which who kiss ass better:p