INTERNATIONAL BRAND FOSSIL 

Fossil is an American watch and lifestyle company, creatively rooted in authentic vintage and classic design. Since 1984, they strive to create high-quality watches, bags and more that preserve the best of the past while updating it for today.The Fossil brand was the springboard for everything the company has become for more than a quarter of a century. Fossil prides itself on its commitment to American vintage inspiration. This commitment has allowed for a strong retail presence globally, with more than 400 retail locations, 4,000 wholesale locations and 13,000 employees worldwide.Alongside the Fossil Brand, the company is constantly developing its multi-brand portfolio. Our diverse portfolio of world-class brands gives us a unique position in the global marketplace. And we’re only getting bigger.This global foundation has allowed for sustained growth which propelled Fossil into the S&P 500, marking its place among the 500 leading publicly traded companies in the United States.

Fossil Inc. is an American designer and manufacturer of accessories and clothing, predominantly into watches and jewelry but also into other complementary products like handbags, wallets, belts etc. Fossil Inc.

1. CUSTOMER VALUE AND VALUE CREATION 

 Customer Value:  It is defined as the difference between what a customer gets from a product, and what he or she has to give in order to get it. In simple terms customer value is the value derived by the customer on purchase of the product or service. 
In case of FOSSIL watches, the customer value may be outlines thus.

 

 Wider range: FOSSIL has a very wide range of watches catering to the individual tastes and preferences of the customer.
 Quality: The quality offered by the brand “FOSSIL” is indisputable and customers feel they have received value for their money.
Discounts: The brand every now and then offers discounts to its customers (both new and repeat customers) 
 Value Creation: The basic definition of marketing states that it is an organisational function and a set of processes for creating, communicating and delivering value to customers. This can be explained with the following table in case of FOSSIL.
 Segmentation: Segmenting the market based on demographics, psycho graphics, gender etc . Fossil Inc. has segmented markets into 4 

(1) the U.S. wholesale segment (such as department stores)
(2) the European wholesale segment
(3) other international whole segments, and 
(4) direct to consumer segment, consisting of company owned retail stores, the FOSSIL catalog and e-commerce activities.
Targeting: Fossil is targeting men and women between the age group of 16 and 40 years. This becomes their target group.
Positioning: Positioning refers to the position of the product in the minds of the customer. Fossil has positioned itself as a fashionable brand at affordable prices. This would be a point of difference for Fossil. 
         

 Marketing Strategy of Fossil
The below pointers are the marketing strategies developed by Fossil for its long term sustenance. 
Brand Development. 
Product Value.  
Fashion Orientation.  
Expansion of International Business.
Introduction of New Product Categories. 
Active Management of Retail Sales. 
Close Relationships with Manufacturing Sources.  
Coordinated Product Promotion.  
Personnel Development.                 
Cost Advantages.  
Centralized Distribution. 

SALES MANAGEMENT: SALES FORCE AND SALES MANAGER

 literal terms sales management is the application of sales techniques in order to maximize sales and profits of the company. The main driving force behind any organisation's sales is the personnel who handle sales or the "sales force". At Fossil the sales force is trained for one  thing and one thing only "Customer Satisfaction" The entire brand revolves around this concept.  It is the responsibility of the sales manager to ensure prompt training of the sales force, the key responsibilities of the sales manager is outlined below

Understanding current and potential customers
Researching and reporting on external opportunities
Managing the customer journey (customer relationship management)
Developing the marketing strategy and plan
Management of the marketing mix 
Management of Finance and other budgetary requirements.
To maintain the image of the brand Fossil and to ensure the value of the company is marketed in the global sphere
Innovation  

PORTER'S FIVE FORCES ANALYSIS

1) Supplier Power
     Low – suppliers tend to have little power in the apparel industry due to intense global competition

2) Threat of Substitutes
      High – accessories are easily interchangeable, and other devices that are carried regularly by Fossil’s prospective customers, such as cell phones, tell time

3) Barriers to Entry
     Low – it is not difficult to enter the retail industry, but it is very difficult to maintain a position due to the competitive nature of store location and importance of vertical supply and distribution organization

4) Buyer Power
     High – consumers have access to lots of information on line and are demanding the best value for their money, and success in the industry depends on successfully appealing to consumer preferences

5) Rivalry
    High – the specialty retail industry greatly depends on brand recognition and loyalty
Fossil watches are most well known for their retro look and are extremely popular on this demand. The collections and styles offered are extremely diverse both in appearance and in utility. For instance they offer both chronograph and digital watches in their sports collections as well as separate analog watches for party wear.

Reference

1. http://www.fossil.com/webapp/wcs/stores/servlet/HomeView?langId=-1&storeId=12052&catalogId=25005&N=0 

2.https://www.linkedin.com/company/fossil

3.http://www.fossilgroup.com/responsibility/conflict-minerals-policy/

4.http://en.wikipedia.org/wiki/Fossil,_Inc.