SMH Brand Reformation and Strategy

This set of flashcards covers key vocabulary and concepts from the lecture on SMH's brand reformation, marketing strategies, and the impact of global economic factors.

Reorganization

The logical and efficient rearrangement of an organization's structure and personnel.

ETA

The company that consolidates the manufacturing and assembling processes of brands like Omega and Longines, supplying movements to all SMH brands.

Movement Consolidation

The process of combining types of movement into common parts for use among all SMH brands.

Selection and Concentration

A strategy employed by SMH to clarify brand differences and narrow the number of models while repositioning them to complement each other.

Global Brand Marketing

Strategies implemented to promote brands like Omega and Swatch on a global scale by emphasizing individuality and a uniform image.

Mechanical Movements

High-value, well-designed watch movements concentrated on the Omega brand as part of SMH’s marketing strategy.

International Division of Labor

A system where SMH established global production using resources from different countries such as China and Thailand.

Plaza Accord

An agreement in 1985 that affected exchange rates and competitiveness for manufacturers, notably influencing the Swiss watch industry.

Distribution Consolidation

The merging of brand-specific distributors into single agents or local subsidiaries to manage multiple brand functions.

Competitiveness Loss

The decline in Japanese manufacturers' market standing due to currency fluctuations and economic changes post-Plaza Accord.