This document discusses market segmentation of GPS enabled wrist watches. It begins by introducing GPS watches and their features such as map display, route tracking, and speed/pace display. It then discusses leading brands like Garmin, Nike, and Polar. The document defines market segmentation as dividing a market into homogeneous subgroups to target with distinct marketing mixes. It proposes segmenting the GPS watch market by target industries, consumers, geography, demographics, and behaviors. While the market has opportunities, smartphones with GPS apps have reduced demand for dedicated GPS watches. However, the Indian government is developing inexpensive GPS watches for women's safety.
9. AND MORE ….
• Golf
• Military
• Marine
• Aviation
• Navigation
• Automotive
• Tracking
• Data Logging
• Locating Children and Adults with intellectual disabilities
10. SOME OBVIOUS “MUST HAVE” FEATURES
• Map Display
• Route Tracking
• Speed / Pace Display
• Time
12. COST OF GPS BASED WRIST WATCH
• One of Garmin's newest GPS sports watches is also its lowest-cost
model, the Forerunner 110.
– Cost: $199-$249
• Other Companies :$150-$650
17. “ Market segmentation is sub-dividing a
market into distinct and homogeneous
subgroups of customers, where any
group can conceivably be selected as a
target market to be met with distinct
marketing mix.”
- Dr. Philip Kotler
23. GEOGRAPHIC SEGMENTATION
• Regions
– South India , North , Western Region, East
• Cities
– metro cities, cities with population more than 1 million
• World
• Population Density
• Climate
• Topology
24.
25. DEMOGRAPHIC SEGMENTATION
For GPS watches demographic segmentation would be:
1. Age: GPS is a buzz word amongst youth. Age Group: 18 to 30.
2. Gender: Going by the features, people of both genders who are either fitness
freaks or sportspersons are potential consumers. (Male / Female)
3. Income: Good amount of disposable income as the product is generally expensive
4. Lifecycle: People who are very precise about their work out/jogging distances and
timings are the potential users.
26. BEHAVIORAL SEGMENTATION
For GPS watches behavioral segmentation would be:
1. Benefits: GPS, Distance Measurement, Route Measurement, Navigation
2. Occasion: Where directions, routes, tracking, speed calculations are required
3. Usage: Heavy and Light
27. BEHAVIORAL SEGMENTATION
For GPS watches psychographic segmentation would be:
1. Lifestyle: People who have interest in technology, fitness conscious, Sportsmen
2. Social Class: Upper Middle and Upper Class, Defence
3. Personality Explorers, Fitness Conscious, Interest in Technology
29. OPPORTUNITIES
• Increasing demand for lifestyle products
• People are becoming more fitness conscious
• Increasing Per-Capita-Income
• Increased spending on technology
• Smart Watches are becoming more common
30. GPS now available in low-cost smartphones has eliminated the need for
GPS watches
Applications
- Endomondo
- Nike +
BUT WHY NOT ?
31.
32. GPS WRIST WATCHES FOR WOMEN’S SAFETY
- A GOVERNMENT OF INDIA INITIATIVE
Kapil Sibal, India’s Minister of Communications and Information Technology, has
expressed his wish for a GPS enabled wristwatch to ensure women’s safety.
The minister had recently revealed to the Wall Street Journal that the GPS-enabled
wristwatch was in the works and that the government has reached out to telecom
equipment manufacturer ITI to manufacture the device.
Two variants of the device are being developed, first will be priced at $20 (Rs. 1,071
approx.) and another at $50 (Rs. 2,680 approx.).