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This group, which purchases more watches per capita than those older, is our primary market segment. Watch purchases are more likely by consumers in the northeast and Midwest.
Many purchases are expected to be impulse, requiring strong point-of-purchase support. Seventy percent of the market is concentrated with strong competition from Swatch, Fossil, Guess? We have extensive experience in the manufacture of innovative, high quality, precision plastics and timing devices permitting us to offer the consumer value in a branded fashion watch.
Additionally, we have experience distributing products into 75 percent of the outlets for branded fashion watches. The Spree watch project will break-even in Our current distribution covers 75 percent of the market.
At this time we will not expand our distribution to access the jewelry store retail channel. We will increase our sales force by 5 persons and add a sales trainer to support for our market plan.
Advertising of one million dollars will emphasis the unique design of the watch and is weighted toward print and point-of-purchase displays.
This and television advertising will be scheduled two-thirds in the first six months of the campaign. To achieve consumer awareness in the first year, our advertising voice share will be considerably higher than that of the four market leaders. This market plan is based on providing consumers with a high quality, innovative watch.
It will be offered in a variety of styles for both men and women. The casing and movement has other potential applications not discussed in this plan. Our profits of 30 million dollars represent 7. Sales growth has slowed to a current level of 5 percent annually. Growth in current markets is expected to be limited.
The Spree watch is one of several projects with the potential to improve General's growth rate. Market Analysis The Spree watch will compete directly with several other branded fashion watches. Annual market growth is expected to exceed six percent throughexceeding our current annual sales growth.
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