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A brief analysis on the Indian Watch Industry

A brief analysis on the Indian Watch Industry

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    Watches Watches Presentation Transcript

    • WATCH INDUSTRY MARKETING ANALYSIS
      P.SomaGiri (35)
    • Indian Watch Industry:-
      India is an under penetrated market for watches-only 27% of Indians own a watch.
      Total estimated volume as per 2007 is 39 mn units and value of Rs 2500 crores ( USD 625 Mn)
      Vast proportion of Indian market is below Rs 500 by about 68%
      Market has been split into : Low end, Mass market, Premium & Luxury brands.
    • Distribution & Supply Network
    • TITAN
      be more
    • TITAN AT A GLANCE
      FOUNDED IN: 1987
      HEADQUARTERS: Hosur, India
      AREA SERVED: 4 continent and 32 countries
      India and other countries esp. Middle east, Asia Pacific and Africa
      KEY PEOPLE: Xerxes Desai, Founder
      INDUSTRY: Watches
    • PRODUCTS: Watches, Jewellery, Eyewear & Precision Engineering
      EMPLOYEES: 3,000
      PARENT COMPANY: TATA
    • KEY FACTS
      Titan Industries is the world's fifth largest manufacturer of Watches
      The company has manufactured more than a 100 million watches till date
      Has Customer base of over 80 million
      The company has 247 exclusive showrooms christened ‘World of Titan’, backed by 700 after-sales-service centers
      The Titan Design Studio focuses on design of watches, clocks, eyewear, trophies and a range of other products
      Titan introduces Braille watches for the visually impaired
    • PRODUCT RANGE
      Raga DIVA
      Zoop
      WWF
      Nebula
      Octane
      Heritage
      Edge
      Orion
    • PRICE RANGE
      Raga Diva- Rs 4000-9500
      Zoop- Rs 5200- 6000
      WWF
      Nebula- Rs 26000- 85000
      Octane- Rs 5250- 7000
      Heritage
      Edge
      Orion- Rs 3200- 7500
      Fastrack- Rs 500-4500
    • PROMOTIONS
      Advertising:-
      Electronic & Print ads
      Sales Promotions:-
      Consumer Promotions
      Events :-
      Launch of the new store
      Helios
      Public Relations
      Vaishnavi Corporate
      Communications
      Hoardings/ Billboards
    • TARGET SEGMENT
      DEMOGRAPHIC
      Age: 6-11, 12-19, 20-34, 35-49, 50-64, 65+
      Gender: Male, Female
      Occupation: Professionals, Retired, Students, Homemakers, Sportsmen
      Social Class: Working Class, Middle Class, Upper Middle Class, Lower Upper, Upper Uppers
      PSYCHOGRAPHIC
      Lifestyle: Culture- Oriented, Sports- Oriented, Outdoor- Oriented
      Personality: Gregarious, Ambitious
    • BEHAVIORAL
      Benefits: Quality, Service and Economy
      User Status: Potential User, First-time User, Regular User, Nonuser
      Usage Rate: Light User, Medium User, Heavy User
      Readiness Stage: Unaware, aware, Informed, Interested, Intending to Buy
      Attitude toward product: Enthusiastic, positive, indifferent, negative, hostile
    • BRAND AMBASSADOR
    • MARKET INFORMATION
      Titan's watches division has a 60% share of the domestic organized watch market, which is estimated at 42 million pieces annually and is growing at 8% year-on-year
      The company plans to sell 10 million watches this fiscal compared with 90,00,000 in 2007-2008
      Watches currently contribute 30% to Titan's revenues and this division is expected to grow 20% this fiscal against 18% last
    • TIMEX Watches
    • TIMEX WORLD
      • In market since 150 years
      • Ranked No. 1 in U.S.A in 2001
      • Largest selling brand in U.S.A & Canada
      • Focus- Quartz based wrist watches in India.
      • Lowest cost watch manufacturer in the world.
    • Joint venture with TITAN
      Company market share growth from 12% in 1998 to 28 % in 2008.
      WHAT IS THEIR STRATEGY ?
    • TARGET
      MARKET
      • YOUTH
      • KIDS
      • HIGH END
      • FASHION
      • LUXURY
      • SPORTS n
      ATHLETICS
    • TIMEX TECHNOLOGY
      • DATA LINK
      • PERPETUAL CALENDAR
      COLLECTION
      • WATER RESISTANT WATCH
      • IRONMAN TRIATHLON
    • Distribution
      Espirit
      Nautica,
      FCUK
      Pierre Cardin
      Versace
      Guess
      Gucci
      Salvatore Ferragamo
    • Brand Ambassador
      Brett Lee- 360 degree Marketing
      Collections
      • Conversation starters(Rs.1550-8550)
      • Torque collection(Rs. 2495-4995)
      • Timex act golf collection(Rs.1995-5995)
      • i-control range(Rs.2000-6000)
      • International collection(Rs7500-15000)
      • Festive collection(Rs. 3500-9900)
      • Reebok timewear(Rs.3500-8000)
    • Joint ventures
      • Disney
      • Designer watches
      • Vincert berard- handcrafted mechanical
      manufacturer
      • Reliance mobile
      • Versace
      • Valentino
    • OMEGA WATCHES
      Founded in 1848.
    • Omega – Range of products
      Gents’ Collection
      Ladies’ Collection
      Fine Jewellery & Charms
      Fine Leather & Bags
      Special timing equipment & gear for Olympics
      Standard equipment of the astronauts and the cosmonauts during their walks in Space.
    • Promotional tactics observed:-
      Sponsorships with Sports
      - Official timekeeper of every Olympic Sport since 1932.
      - Promotes two major events in India
      Sailing & Golf.
      - Omega’s Olympic Limited Edition watch released 88 days before the start of the Beijing Olympics
      • Omega & James Bond
      - Limited edition watches with 007 engraved clasps.
    • Brand Ambassadors
      Abhishek Bachchan
      Sonali Bendre
      Michael Schumacher
      Ian Thorpe
      Michael Phelps
      George Clooney
    • Tie ups with NASA & ISS
      The International Space Station also represents a new era for the Omega's longstanding involvement with space exploration. The Omega Speedmaster Professional X-33 a watch developed to NASA's strict requirements with the help of astronauts and professional pilots once again proves its reliability as the official
      watch of the ISS
       
      • Technology & Design Innovations:-
      Established world-class recognition for their expertise in manufacturing movements. They have continued to focus on refining and further developing new movements.
      Omega watches are best known for their unique co-axial movement which was initially released to the marketplace in 1999, following several years of development and rigorous testing. The new De Ville Co-Axial collection was presented in 2001.
    • IN RUSSIA
      Till 2006 year JamilCo shop distributed the Swatch product in Russia
      • The product had wrong position on the Russian watch market
      • It was defined as usual expensive watch
      • Customers did not pay attention to the product
      From February, 2006 official Swatch distributor started to develop the Swatch brand in Russia
      • A lot of independent official Swatch outlets appeared in largest cities of Russia
      • All groups of Russian citizens became interested in Swatch products
      • Swatch watches was found the post popular of Swiss
      watch in Russia
    • Promotion of
      Swatch produce the watch models suitable for everybody
      In spite of this they define young people as their target audience
      The factors of Swatch popularity:
      • Value for money
      • Acceptable price for Swiss Watches (starts from 2200 Rs)
      • Wide range of models from usual acceptable for everybody to luxury models
      • Quality and reliability
      • Good warranty conditions
      • Opportunity to buy Swatch product on-line
      Swatch advertisements:
      • TV-commercial
      • Billboards
      • Famous magazines
    • Brand Ambassadors
      Konstantin Ernst (First Russian Channel Director)
      Anna Kournikova
    • TISSOT
      Introduced in the year 1853
      Founder : Charles-Felicien Tissot
      Tissot was the first company to make watches in plastic.
      Its parent company is Swatch
      Tissot merged with Omega watch making company in 1930
    • Deepika Padukone is the brand’s Indian ambassador and the ‘Face of Tissot ‘ aroubnd the globe.
      Michael James Owen is an other brand ambassador.
      Nicky Hayden is a motorcycle racer is also one of the brand ambassador.
    • Tissot has over 130 outlets all over the country in about 25 cities and towns.
      Tissot attracts people from all walks of life; it has got variety.
      It has attracted a huge customer segment irrespective of nationality.
      They come out with 200 designs every year.
      They start with a price of Rs 8000 onwards.
    • TAG Heuer
      Tag Heuer is a Swiss luxury watch brand. It is a part of the Louis Vuitton Moet Hennessy group.
      The brand has been in existence since 1860
      In India it was launched in the year 2003
    • Products
    • Products
    • Pricing and Target Market
      Target Market for Tag Heuer is Luxury Market
      Products are priced from Rs.30,000 to Rs.300,000
    • Promotion
      • At the time of launch-"TAG Heuer intends to capture a 10% market share in the Indian Swiss watch segment" which accounts approximately for Rs. 200 crores
      • Targeted at the age group of 16 to 50 years, TAG Heuer India intends to hit this target with a marketing budget of approximately Rs.10 crores
      • As brand ambassador, TAG Heuer has choosenBollywood's star Shah Rukh Khan, focusing on the tag line ‘What are you made of’
      • Print ads were launched on September 10, 2003, but restricted to newspapers and magazines in A & B cities – metros and mini-metros. Released on October 17, 2003, the cinema commercial was launched through a nationwide theatre release. Trying to capture a niche, the cinema-going segment
      • Tied up with leading upmarket multiplexes
    • Promotion
      0% financing 
      • Initially, the finance scheme will be available for a limited period of time, during which the company would assess the response to the initiative.
      • The scheme is expected to help the company's sales during the festive season. About 60 per cent of watch sales occur during the October to January period.
    • Current Scenario
      TAG Heuer is planning to launch 53 global models priced between Rs30, 000 and Rs. 2 lakh this year.
      The company is growing at a rate of 40% and currently holds 8% share in the market
      At present, the company has around 200 watch models 
      At present, Tag Heuer has 70 stores and six standalone boutiques across 25 cities in India.
      Online Campaign
    • Brand Ambassadors(India)
    • New Products(April 2009)
      The Meridiist( Mobile handset)-Rs.2,70,000
      Eye Gear(Glasses)
    • SURVEY
      Sample Size of Consumers: 26
      Sample Size of Retailers: 4
    • Which brand watch do you wear?
    • what factors do you consider while buying a watch ?
    • What price range you consider while buying a watch ?
    • What advertisement features of your brand do you retain ?
      others indicates the brand name only .
    • THANK YOU!!!