Pick a target market the watch would appeal to, then re-position the watch by changing it so it would appeal to a second market. Describe your decision-making for each element of the mix to reach the first target market, and then do it again to create a completely new offering for the second target market.
Use the headings product, price, placement, and promotion for each watch. For example, you should describe:
Product—materials, branding, features, etc.
Pricing—price point and strategies
Place—where and how it would be sold
Promotion—what you would do to communicate value to your customers