Watch Store Marketing


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Watch Store Marketing

  1. 1. MARKETING MANAGEMENT Submitted to :Dr. Nirupama Gupta Submitted by:Yogita Bangar 12LLB085
  4. 4. Marketing Mix
  5. 5. Products  Wrist Watches for men and women Brands- Titan Rolex Omega Oakley Seiko Timex  Watch Accessories  Café lounge in partnership with CCD
  6. 6. Price  Price of Watches varies from 10,000 to 40,00,0000 and no extra charge on packaging or delivery by e-shopping. Rs. 10,095 Titan Raga Analog Watch Rs. 15,989 Seiko Solar Analog Watch Rs. 5,500 Timex Analog Watch Rs. 35,00,000 Rolex Analog Watch
  7. 7. Place Market Spaces Market Places
  8. 8. Promotion  Advertising-through print media in leading newspapers and fashion magazines.  TV Commercials-on all leading channels.  E-promotion through social media like Facebook, twitter etc. and other most visited websites to target youth which is target market for watches.  Direct Marketing-through invitation to potential customers to visit stores via email or calls and other techniques like promotional display of watches.  Membership Cards- Silver Rs. 10,000-50,000 Gold Rs. 50,000- 1,00,000 Platinum Rs 1,00,000 onwards
  9. 9. People People are a defining factor in a service delivery process, since a service is inseparable from the person providing it therefore we need to train staff for better public dealings  Complaints department  Servicing and Warranty department  Receptionist  Sales force  Accounting and billing
  10. 10. Physical Environment The last element in the service marketing mix is a very important element a services are intangible in nature. However, to create a better customer experience tangible elements are also delivered with the service to differentiate in service marketing.  Luxurious interior  CCD  Magazines  Wi-Fi connection  Music  Elegant packaging boxes for watches  Well dressed staff
  11. 11. Process The process of service delivery is crucial since it ensures that the same standard of service is repeatedly delivered to the customers. All services need to be underpinned by clearly defined and efficient processes. This will avoid confusion and promote a consistent service. In other words processes mean that everybody knows what to do and how to do it.  Speedy delivery of watches in e-shopping.  Payment by new and fast methods including cards and cash payment.  Good way of greeting customers by sales force and ensuring customers are attended.
  12. 12. Strategic Marketing
  13. 13. Market Segmentation We will segment watch market on basis of: • Cities • Lifestyle • Age and gender • Income AGE PERCENT PERCENT OF RELATIVE OF WATCH POPULATION PURCHAS BUYERS OVER 17 E INDEX 18-24 19 13 1.46 25-34 33 19 1.74 35-54 35 40 0.88 55+ 13 29 0.4
  14. 14. Market Targeting Evaluating market segments on basis of company resources and profitability we are targeting: • The customers in age group of 18-35 both male and female. • The customers with income 10,00,000 to Rs. 10,00,00,000. between Rs. • We will target urban population by opening store in all metro cities. • We will target people of upper social class and fashion following lifestyle segment of youngsters.
  15. 15. Market Positioning Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market. “We sell style in a stylish way”
  16. 16. Market Differentiation Market differentiation means differentiating its offer by building a unique bundle of benefits that appeals to a substantial group within the segment. • Service differentiation • Image differentiation • People differentiation • Product differentiation • Channel differentiation
  17. 17. CRM Strategies CRM strategies to acquire, retain and extend customers are:  Feedback  Membership Cards  Delivering higher value  Potential customer data bank  Differentiating from rivals  Advertising and promoting  Social customer