Answer:
Product
Step-by-step explanation:
In marketing mix , there are four parameters associated with it, one of which is product. Product could be refered to as tangible and intangible goods, services, which are produced or rendered to satisfy consumers need.
Components of a product include but not limited to warranty, product brand, safety, it's functionality, quality etc. Other marketing mix parameters are place, price and promotion.
With regards to the above, in as much as the watch is accurate due to innovation, then it can be termed as product under functionality component.