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A marketing presentation and targeting of a very niche GPS enabled wrist watch market.
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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 !