Market Segmentation of GPS Based Wrist Watches

Group 5

MARKET SEGMENTATIONOF

GPS ENABLED WRIST WATCHES

Om Akotkar 13030141073

Harshit Jhawar 13030141077

Shashank Wali 13030141079

Deepika Singh 13030141081

Gaurav Kanaujiya 13030141083

Ratnadeep Singh 13030141085

Vinayak Mishra 13030141086

AGENDA

Introduction

Features

Leading brands

What is Segmentation

Segmentation

Global Market Share

Future market prospects

ABOUT THE PRODUCT‘GPS Based Wrist Watches’

A GPS Watch is a watch with an integrated GPS receiver that can be worn onto a wrist.

It can have other features depending upon its intended use

APPLICATIONS AND USES

• Running

APPLICATIONS AND USES

Hiking

APPLICATIONS AND USES

Biking

AND MORE ….

• Golf

• Military

• Marine

• Aviation

• Locating Children and Adults with intellectual disabilities

• Navigation

• Automotive

• Tracking

• Data Logging

SOME OBVIOUS “MUST HAVE” FEATURES

• Map Display

• Route Tracking

• Speed / Pace Display

• Time

LEADING BRANDS• Casio

• Garmin

• Nike

• Polar

• Seiko

• Soleus

• Suunto

• Timex

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

MARKET SEGMENTATIONWhat is it ?

Distinct and homogeneous sub-groups

Target Segment

“ 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

SEGMENTATION OFGPS Enables Wrist Watches

&

MARKET

TARGET INDUSTRIES

• Marine and Military

• Automotive and Aviation

• Navigation

• Sports / Fitness

• Logistics

TARGET CONSUMERS

• Fitness Conscious

• Travelers and Explorers

• Sportsmen

GEOGRAPHIC SEGMENTATION

• Regions – South India , North , Western Region, East

• Cities – metro cities, cities with population more than 1 million

• World

• Population Density

• Climate

• Topology

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.

DEMOGRAPHIC 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

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

BEHAVIORAL SEGMENTATION

THE FUTURE MARKETAnd why is it not a good market to enter into ?

• 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

OPPORTUNITIES

GPS now available in low-cost smartphones has eliminated the need for GPS watches

Applications- Endomondo- Nike +

BUT WHY NOT ?

GPS WRIST WATCHES FOR WOMEN’S SAFETY- A GOVERNMENT OF INDIA INITIATIVE

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.).

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.

VIDEO

Thank you !

END OF PRESENTATION !