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 CONTEXT By Blake Gonsalves & Hoshedar Batliwalla Team 12

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A Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

Transcript of Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

Page 1: Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

EXPLORING CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN THE INDIAN CONTEXTBy Blake Gonsalves & Hoshedar Batliwalla

Team 12

Page 2: Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

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

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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

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PROBLEM DEFINITION

Page 5: Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

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

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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

Page 7: Harvard Xylys Case Study - Exploring consumer perception about premium watches in Indian context

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

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THANK YOU