Evolution through Creating Unique Value Proposition: The Case of the Business Transformation and Value Proposition Development of Swiss Watchmaking Industry
The project aims to determine how mature, re-identified and transformed industries that have appeared again, consequently create new value proposition on the market rather than simply restore old market positions and offerings. This study examines the case of the Swiss watchmaking as an industry that had gone through turmoil and cycles of re-development and explores content of various sources which can legitimize its changed identity and transformed business model. There are products and industries that returned to the market after experiencing severe challenges and crises; eventually they established new positions. The Swiss watchmaking is an example of such case and by employing qualitative methods, this study provides relevant content analysis to explore how this industry’s transformation and revival process has been determined and regarded in terms of exemplary value proposition development. Statistics for the industry as a whole and for particular brands within the industry were examined and the case has been analyzed through particular theoretical frameworks and relevant sources. Data provided serve as a support to the specific case reflections and theoretical findings. This work contributes to assumptions that old products that return to the market will eventually establish new position by changed approach to the value creation. These results finally provide additional contribution about the relevance of the Swiss watchmaking industry case for the discussions about the need of business model transformation and simultaneous value proposition development as inevitable steps in the evolution process for old re-emerged products or industries
