Strategic Analysis of Cartier Company
PESTEL
Political
There has been business laws and regulations when it comes to business and that Cartier does have business operation agreements under which it is under business location from which they have launched business products and services from within operation and distribution is of balanced process. Thus, Cartier have integrated politically centered business sites as easily attainable to prospected buyers and target avenues
Economical
Cartier exposes such viable economic presence, bringing in better tourism due to product excellence and quality standards assuming in positive and substantial economic benefits to both the management, key players and partners of the business, there is the ability to help in give more employment opportunity and contribute fair enough for stable business economy of watches.
Social
Cartier integrates social options in the sense that it provides customers clear emphasis on business pathways as the corporate executives are allowed to interact socially into the domain of Cartier business performance and leadership in product manufacturing.
Technological
For Cartier, there is technology centered process does incur the use of technology in order to be used and applied properly in giving weight to raw material improvements to utilize in making popular watches allowing in desirable promotion agenda to persuade potential buyers. Technology plays crucial part for Cartier for possible innovation and internet adaptability updates.
Environmental
For environmental part, Cartier will be conforming to environment regulations and laws such as for production, manufacturing and distribution and the need for Cartier to have environment centered drivers for example, to create as well as launch nature friendly crafted watches.
Legal
Legally, it is ideal for Cartier to give importance to such business operation rules and regulations that can be considered upon allowing PESTLE as well as Cartier development process to enter into pattern of effective business performance, Cartier should impose laws that is ideal for the key players to follow like, proper disposal of waste of raw materials used that may lead to pollution and other threatening nature problems.
Internal Analysis
Five Forces
There can be new entrants to Cartier can raise the level of competition, thereby reducing product attractiveness, high entry barriers might exist such as investment requirements posited by Cartier. The presence of substitute can lower Cartier profitability because of the lower price levels due to global crisis. The cost of items bought in Cartier suppliers does have significant impact on Cartier sales. The bargaining power of Cartier buyers is greater when few dominant buyers and many sellers in business, Cartier watches are standardized and integrate branding equity and power. Porter's (1980), five force analysis has five components to be considered in order to understand the potential threats within the Cartier marketplace.
Assessment of the performance
Cartier does enjoy reputation for selling finest watches and accessories, Cartier's highly diverse line of wristwatches, many of which are the most recognizable designs on the planet. From the Tank or Pasha Cartier watch models, to the finest bejeweled creations for women, there is literally Cartier watch for everyone, at almost every price point. The expanding branches such as in London and New York. Indeed, a Cartier watch is finished to very high standards for example; bracelets in particular are meticulously handcrafted and exude quality in every sense of the word of good range of prices and styles. Henceforth, came 'Santos' design into being, Cartier roped in Edward Jaeger, exclusively provide movements to its watches. Cartier watches come with special seal of brand authenticity maintaining a fine niche reality in the industry.
Review of the options available and recommendation
Agreeing that time has been good to Cartier - creator of the women's wristwatch, made the first wristwatch with leather strap as there is global leadership and business stature success for Cartier, the business just need to keep business operation elements from innovating in more options to assume steady remarks in the watch industry, there has been glittering Cartier trademark bedecks in such jewelry, watches and other accessories, power in distribution market hit in worldwide business from certain boutiques as well as retail concession.
Recommendations for implementing strategies
There is the need for Cartier to plan and execute the following:
Strong Customer Service
More Effective Standards and Quality Approach
Disciplined business operations and manufacturing stature
Continue to augment its global market presence for ideal sales and profit
Performance Growth and Technology Innovation Drivers
Delivering of fine products following quality assumptions
Ideal avenue for Cartier Company expansion
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Porter, M.E. (1980), Competitive Strategy, The Free Press, MacMillan
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