Wrist Watch .....Priyanka

8/3/2019 Wrist Watch .....Priyanka

1/22

Presentation onwrist watch

(mid - range)


2/22

Indian Watch Market The overall size of the Indian watch market is estimated to

be around 40-45 million wristwatches with a double-digit

annual growth of around 10%.

It is estimated that 20-25 watches are sold for every 1,000citizens. More than 90% of the watches sold in the countrycost less than 1374.50 INR

The annual market size of the Indian watch market isestimated to be around US$ 195 million

There are several price points for watches in India - Low,

Medium, High, Premium and Luxury

starting from Rs434.50 right up to Rs.108706.50 onwards. Around 70% ofthe watches sold in India have a price point of less thanRs.1099.56


3/22

Indian Watch Industry Trends

Rapid increase in target audience

Rise of consumerism and purchasing power

of the middle class

Bulk of the demand exists in lower and

middle segments Rise of demand of trendy watches

The fashion statement on your wrist

Rising Demand for Six-Figure Watches Luxury


4/22

STP Process Dividing the market by grouping the customer with

similar tastes and preferences into one segment iscalled is called segmentation.

Individual marketing segmentation

where I will focus on individual customers

that is my target audience will be from age group of15

yrs -30 yrs

segmentation ofconsumer market

Here taste, preference fashion , style , status,need , demand will be kept in mind while

segmenting


5/22

Targeting

It is the second stage of the Segment Target Position(STP) process. After the most attractive segments areselected,

The ability of company to enter the marketas company is launching wrist watches for age groupfrom 15 yrs to 30 yrs , it has variety of wrist watches for

this segment that too which fits in their budgets ,companyhas kept in mind the strategy of competitors theirweakness & strength so ha to gain some stability inmarket as it I launching its new product in market amongthe well known competitors


6/22

. Analyzing competitorsSONATA :. This brand is well known for its affordable rangeof watches designed with the typical watch customer inmindstarting price 275 Rs

TIMEX: Over half a century ago, Timex revolutionizedwatch making by using cutting-edge technology in products

in outdoor, sports and style categories. Today, Timex is ahousehold name synonymous with design, durability andperformanceStarting price 535 Rs

CITIZEN: Citizen, collection comprises 65% for men and35% for women,The specific approach taken by Citizen was to build auniversally trusted and recognized brand as well as a

technological and physical infrastructure that can scale


7/22

Considering the companys abilities compared to thecompetitors

launching wrist watches for age group of 15 yr to 30 yrs

Available in wide ranges of Innovative designs, eye-catching colors, jewel-set version, style like funky decent,sporty, party wear, fashionable according to today market,waterproof, size like thin belts broad belts with differentsize of dials, changeable dials & affordable prices

Deciding on the actual target markets.Age group 15yrs to 30 yrsTargeting middle class people

Targeting those group who keep on changing their styleaccordinglyGroup who is found of continous changes


8/22

POSITIONINGA watch that builds your image

Quality product with reliability, performance,

elegance & sportsmanship with latest designWhich fulfill emotional & artistic needs with yourlifestyle statement

A brand which represents style, status andtechnology

A Good Looking WatchYou don't have to be rich to afford this watchesas it is

midrange segmentsTrendy, Decent & stylishTechnologically superior multifunctional


9/22

Communication goals

To communicate the product related companyobjectives to its target market through rightmedium

to create awareness of the product.

Imparting knowledge about the product andits availability in market Projecting a positive and user friendly image

of the product with target market. Shaping the attitudes of the target market in

the way to persuade them for the usage ofthe product.

Stimulating a want or desire for the trial andfurther usage of the product.

W


10/22

SWOT:

STRENGTH:

The range of watches the brand is tolaunch are of mid range.

Available in variety of color combinations,styles, designs.

Easily available in market at the WRISTO

watch stores. less competition due to its mid range and

offering of variety with the same range.


11/22

WEAKNESS:

Brand loyal people will find it difficult toswitch to another brand like WRISTOliving their brand even though

WRISTO offering mid range watcheswith a lot of variety.

Competition of brands with mid range

watches.


12/22

OPPORTUNITIES:

Launching expansion of the productcovering the other segments of themarket.

Bringing up changes in currentproduct line.

Sales increase expectations.


13/22

THREATS:

Competitors might try to overcome theproduct by launching similar line ofproduct in future.

The recall for the product notsustained in the minds of the targetmarket.

Increase in the purchasing power ofthe consumers letting them to switchto premium brands.


14/22

About my product

Product : wrist watch Name : Wristo ( because you deserve

the change ) Price: starting from Rs. 499 to Rs 5000 Features :Available in wide ranges of

Innovative designs, eye-catching colors,jewel-set version, style like funky decent,sporty, party wear, fashionable according

to today market, waterproof, size likethin belts broad belts with different sizeof dials, changeable dials & affordableprices


15/22

Pricing Policy & strategyWill apply the concept of providing quality product at

optimum price

Will provide Lucrative discounts, deals and schemes

Will adopt sales oriented objective

Will Have one price policy to maintain a goodwillamong customers (at least for 5 yrs)


16/22

DISTRIBUTION

Manufacturer

Dealer

Retailer

Customer

single watch retail outlets

departmental stores and showrooms displaying

watches.

retailing concepts such as shop-in-shops, exclusive

corners and attractive display counters, etc. & mall

space

later go for exclusive showrooms

Set up a chain of service centers, with close proximityto the marketplace

Innovative planning of showrooms


17/22

MEDIA MIX:o Each media category has unique characteristics.o television will offers visual impact that interweaves

sight and sound, often within a narrative storyline formy product

oMagazines will offer high reproduction quality butmust grab the consumer with a single static image.

o

Direct mail can carry free samples but can requirecompelling ad copy in the letter and back-end

infrastructure for some form of consumer response by

return mail, telephone or Internet.

o

Rich media ads on the Internet can combine the bestof TV-style ads with interactive response via a clickthrough to the brand's own Web site.


18/22

Media strategy The crucial decisions: where to advertise (geography :

10 metropolitan cities)

when to advertise For TVC: channels like MTV , V Channel sports

channel, scheduling will be on continuity bases

and what media categories to use

(media mix: magazines like femina, fashion magazines,sports magazines or youth based magazines

Newspaper like Bombay times , Sunday specialeditions, Mumbai mirror n regional newspapers).

Moreover the decision to be taken with the budgetconstraints The actual amount of money that anadvertiser spends on marketing communications canvary widely.


19/22

Promotional activitypre-launch activity, to secure distribution and ensurethat the sales channel (including resellers, retailers,

etc.) have the skills, resources, and knowledge tomarket the product

launch activity:Make target segment aware of the product(trailor ads

of the brand in tvc, magzines, newspapers initially.)Build an image of brand ( once the target market hasbeen introduced to the brand and product.)internal communications (or "internal launch"), toguarantee high levels of awareness and commitmentto the new product;launch events at the malls, big multi watch stores,TVC ads, newspapers, radio, magazines, all atnational, regional, and/or local level;(at the launch

period of the product)

F TVC th ill b 3 t f h d li


20/22

For TVC there will b 3 types of schedulingThe flight scheduling approach alternates advertising

across months, with heavy advertising in certain months and noadvertising at all in other months.

. Continuity scheduling spreads media spending evenlyacross months. This method ensures steady brand exposureover each purchase cycle for individual consumers. It alsotakes advantage of volume discounts in media buying.Pulse scheduling combines the first two scheduling methods,

so that the brand maintains a low level of advertising across allmonths but spends more in selected months

Post launch periodCoupons

DiscountsGiftsPackaging( will undergo changes)Will b offered during festivals, occasions n during sale period;considered as the post launch strategy to b followed.


21/22

PR ACTIVITY

hiring up a pr agency which can handle each segment of thetarget market selected in stp process and formulatepromotional activities accordingly.keeping a track throughout the pre-launch n post launchperiod of the product and then sustaining the brand imageconstant in the minds of the target market.

bringing up exciting brand extensions in the market to expandthe target market.taking charge over the crisis the brand might face due tocompetition, changing attitudes of consumers, and manymore; and making strategies accordingly for the brand

reinforcement and brand revitalization.making advertisement budget suitable and the secondarypriority once the product is a known one in its target market.ensuring maintenance of a cordial relationship of consumerswith the brand and company.


22/22

The future scope for mybrandThe scope for my Wristo watches are

expected to have an positive increase inmarket

As my watches are of mid range & they

are available in varietiesAnd according to the consumers needs

& requirement that will fit in their budgetA product which will compliment their

personality & status in society. Its is available in market that means it is

in reach of T.A

Wrist Watch .....Priyanka

Documents

Transcript of Wrist Watch .....Priyanka