Definition of Product
The end result of the manufacturing process, to be offered to the marketplace to satisfy a need or want.
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Introduction
WATCHES
A watch is a timepiece that is made to be worn on a person. It is usually a
wristwatch, worn on the wrist with a strap or bracelet.
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Display
Analog :
A numbered dial upon which are mounted at least a rotating hour hand and a longer, rotating minute hand.
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Display
Digital :
A digital display simply shows the time as a number.
It had a red light-emitting diode (LED) display.
Contd. 6
Types of Watches1. Fashion Watches: Wristwatches are
often appreciated as jewelry or as collectible works of art rather than just as timepieces.
2. Computerized multi-function watches: They have awkward user interfaces due to the tiny screens and buttons, and a short battery life.
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Types of Watches (Contd.)3. For space travel: Zero gravity
environment and other extreme conditions encountered by astronauts in space requires the use of specially tested watches.
4. For scuba diving: Watches may be crafted to become water resistant. These watches are sometimes called diving watches.
Indian Watch Market
• Size: 40-45 millions pieces annually.
• Annual market(in USD): 195 millions.
• Average growth in India: Increase in 10-15 % annually.
• But India still lower in that market compared globally.
Categories of Watches
• Low Price Segment: Less than Rs.500.
• Medium Price Segment: Between Rs. 500-1500.
• High Price Segment: More than Rs. 1500.
Timex
• Timex watches by Timex Group USA.
It has basically low & medium range watches.
Timex Formals c401
Rs. 990
Timex SportsRs. 785
Timex Formals WomenRs. 1465
Citizen• Manufactured by Citizen Holdings Co. Ltd.
• It consists mainly high range segment.
Citizen perpetual series
Rs. 17,200
Citizen BL-800Rs. 22,900
Casio
• It’s a Japanese Mfg company.
• It consists all categories of range segments.
Casio Metal fashionRs. 1780
Casio Standard Line
Rs. 1045Casio Proterk Line-
upRs. 12700
Titan
• Its an Indian brand & manufacturing company.
• Titan having all range of watches.
Titan EdgeRs. 8650
Titan FastrackRs.1085
Titan RagaRs.3560
• Titan is India's leading manufacturer of watches.
• The sixth largest in the world.
• Titan watches is a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation.
I am taking Titan Co’s product
Titan Raga
• Market price:- Rs 2,000 - 5,000.
• Target customer:- High level people.
• Local Tax:- 12.5%
• Profit margin:- 10-15%
Titan Fastrack
• Market price:- Rs 1,000 – 3,500.
• Target customer:- Middle & High level people.
• Local Tax:- 12.5%
• Profit margin:- 10-12%
Titan Sonata• Market price:- Rs 250 – 1,200.
• Target customer:- Lower & Middle class people.
• Local Tax:- 12.5%
• Profit margin:- 10%
• It has over 650 models in Indian market.
• Having more than 10,000 dealers in India.
Titan Edge
• Market price:- More than Rs. 7,000.
• Target customer:- High level people.
• Local Tax:- 12.5%
• Profit margin:- 15-20%
Titan Steel
• Market price:- Starts with Rs 2,300.
• Target customer:- High level people.
• Local Tax:- 12.5%
• Profit margin:- 10-20%
• In the end, though India is still considered to be a difficult market to penetrate due to reasons like:- Price sensitiveness and Its largely unorganised sector.
• However, with the right planning and the right management International & national will do well in Indian Watch Market.