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A Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context
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EXPLORING CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN THE INDIAN CONTEXTBy Blake Gonsalves & Hoshedar Batliwalla
Team 12
TIME LINE1960’s
• HMT was the only player
1984
• Tata & Tamil Nadu Industrial Development Corporation (Tidco) joint venture
1987
• The Company established a manufacturing facility at Hosur for the manufacture of components for watches
1991
• A joint venture Company along with Economic Development Council of Goa, Daman & Diu Ltd., in the name of Titan Time Products, Ltd., was set up at Goa, for the manufacture of Electronic Circuit Blocks.
1993
• The name of the Company was changed with effect from 21st Sept. from Titan Watches, Ltd. to Titan Industries Ltd., in view of the fact that the Company's products consisted of not only watches but also jewellery
2006
• Titan launches the first Xylys watch
CASE SYNOPSIS
• Customer perception of watches in India
• Internal & external factors that influence Indian buyers towards the different segments of watches
• Technology (Quartz), Benefits (casual, formal or sports) & Price (economy, standard, premium & luxury)
• Global demand of watches are decreasing, though statistics show that Indians rank watches as the 8th most necessary item
• Various competitors in the luxury watch segment
• Analyze & link several aspects of consumer behavior
• Compare users & non-users of premium watches
PROBLEM DEFINITION
SITUATIONAL ANALYSIS
POLITICAL• Owned by
TATA’s who have good Govt. support
INTERNAL• Has the Core
TATA culture which is well renounced the world over
EXTERNAL• Titan is the
market leader in India
CUSTOMERS• Statistics
shown that a significant amount is spent in research
• The case study supports those statistics
SWOTLeading manufacturerHas manufactured over 100 million watches and has a customer base of 80 millionWide range in choicesTitan pioneered the retail concept in the watch industryLargest watch retailer in the world
Titan doesn’t focus on waterproof watches
No focus on low spending power customers
Rural class contribute 40% of the low spending segment
STR
EN
GTH
S
WEA
KN
ESSES
Scope in the jewelry market
Feminine accessories
High competition due to other established Swiss brands (Rolex, Omega, etc)
Change in trend (smart watches)O
PPO
RTU
NIT
IES
TH
REATS
SOLUTIONS
To disconnect from Titan and start a separate entity
How will it help:Uniquely position itself in the luxury
segmentImprove perception as a true Swiss
made watch
To push international marketing to prove its presence on a global stand
Heavy advertising
Social media campaigns
Global brand ambassador
THANK YOU