Brand Revitalizing Strategy - HMT
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Transcript of Brand Revitalizing Strategy - HMT
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8/7/2019 Brand Revitalizing Strategy - HMT
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Anupreet Singh 09
Avleen Singh 13Bhavya Murali 16
Natasha Ahuja 34
Neeharika K 36
Saahil Chotani 54
Sanchit Shandil 59
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` To analyze the reasons for the failure of the brands
` To rejuvenate and revitalize the HMT brand
` To reposition the brand in the best possible way
` To change the consumer attitude towards HMTwatches
` To give recommendations as to improve the sales of
HMT watches
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HMT: Hindustan Machine Tools
Established : 1962 by GOI
Corporate office: Kolkata
Manufacturing Centers: Srinagar, Ranibagh, Tumkur& Bangalore
Chairman: A V Kamat
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` Primary Research: Questionnaires
` Secondary Research:
x Online Case Studiesx HMT Website
` Sample Size: 35
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Age Group Frequenc
y
0 to 10 2
10 to 20 4
20 to 30 6
30 to 40 7
40 to 50 8
50 to 60 6
Above 602
Total 35
Gender Frequency
Male 18
Female 17
Total 3551%49%
Gender Wise Distribution
l F m l
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Brands FrequencyTitan 12
Fastrack 6
Timex 3
Sonata 4
HMT 4
Any other 634%
17%
9%
12%
11%
17%
Brands worn by respondentsTit F tr Tim x t H T t r
Type of Watch Frequency
Corporate Watch 2
Sports Watch 5
Casual Watch22
Luxury Watch 5
Theme Based Watch 1
Total 35
25
22
51
0
5
10
15
20
25
C rp r tW t
p rtW t
C u lW t
LuxurW t
T mB dW t
Classification of Watches
Fr qu
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Perceived Quality of Watches of HMT Frequency
1 - Low 3
2- Fair 2
3 - Medium 8
4 - Good 5
5 - High 17
Total 35
3 2
85
17
5
1
15
20
1 - Low 2- air 3 - Mediu 4 - Good 5 - igh
Perceived Quality of Watches ofHMT
requency
Attributes Consumer associate with HMT
Watches
Frequency
Patriotic 26
Ambitious 10Inspirational 18
Adventurous 4
Trustworthy 30
Any other* 4
Total 92
28%
11%
20%4%
33%
4%
Attributes Consumers associatewith HMT
Patriotic A bitious Inspirational Adventurous rustworthy Any other
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Advertisement Seen by HMT Watches Frequency
TV 26
Newspaper 5
Magazine 4
Hoardings 0
Radio 0
Total 35
26
5 40 0
0
5
10
15
20
25
30
V Newspaper Magazine oardings Radio
Advertisement on differentmediums for HMT Watches
requency
Awareness of HMT Watches Ads Frequency
Yes 31No 4
Total 35
89%
11%
Awareness of HMT Watches Ads
Yes No
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Motivation to buy a Watch Frequency
Self 26
Friends/Family 3
Electronic Media 3
Newspaper 2
Hoardings 1
Total 35
26
3 3 2 105
1015202530 Motivation to buy a watch
Frequency
Influence by Celebrity Brand Ambassadors Frequency
Yes 28
No 7Total 35
80%
20%
Influence of celebrity BrandAmbassadors
es No
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Quality
Price
HMT
Fastrack
Titan
Others
Brand
Value
Aesthetic
Appeal
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` Strengths
Strong government support
Has an established marketing network
Record of good industrial relations
In 1991 HMT set up a product development center for watch design
Indian Belief
` Weaknesses
Weak Organizational culture
Production Concept of Marketing
Insufficient emphasis on R&D and design engineering
Aesthetics and packaging of watches have not been duly attended to
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` Opportunities
High Demand in industry
Leveraging brand equity of HMT to products such as sports
gear, personal accessories
Capitalize on attractive segments
` Threats
Declining Market Share
Low Sales
Competition from Titan, Fastrack
Last Stage ofPLC
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>Rs. 5k
Valued at 370 Crores
Swiss brands:Tissot,Omega, Rolex
Fashion brands:Fossil, Calvin Klein,
Giordano, Esprit
(Rs. 1k - 5k)
Valued at 938 Crores
Titan, Citizen, Timex,
Swatch, Espirit
Price Range: Rs 400-1000
Valued at 1200 Crores
Sonata, Maxima
Mass (< Rs. 400)
Valued at Rs. 300 Crores
Greymarket, Chinese, etc
Mass Low End
Pre iuMid
Upper
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` Did not plan for post liberalization.
` A large number of staff, including persons of general
manager's rank, had left the organization to join the rivals
` The biggest threat came from watch manufacturers in the
unorganized sector and fake parts and components.
` They have even detected our dealers' connivance in selling
other brands
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Few Designs as compared to competitors
Offering less commission to retailers and whole sellers.
Limited service agencies
Selective Policy while choosing retailers
Centralized organizational structure
It could not communicate its uniqueness to
customers
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