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MARKETING MANAGEMENT PROJECT ON OF Submitted by : Aashit Prakhar (14003) Ankur Kimtani (14014) Dev Dugal (14019) Rashmi Ranjan (14050) WATCHES

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Transcript of Mm

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MARKETING MANAGEMENTPROJECT

ON

OFSubmitted by :

Aashit Prakhar (14003)Ankur Kimtani (14014)

Dev Dugal (14019)Rashmi Ranjan (14050)

WATCHES

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INTRODUCTION :

• ITC Limited – Its diversified business includes four areas:

• Fast Moving Consumer Goods, • Hotels,• Paperboards, Paper & Packaging • Agriculture Business. 

• in 2002, ITC also initiated a foray into the popular segment with its men's wear brand, John Players.

• The brand is available across the country through a nation-wide network of over 350 exclusive stores and 1400 multi-brand outlets.

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• The latest watch collection of john players not only have attractive designs but reasonable price .

• Classic and funky colour combinations constitutes the making of these watches.

PRODUCT DESCRIPTION :

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MARKET DEMOGRAPHICS: Market demographics mainly consists of geographic and demographic factors. 

GEOGRAPHIC SEGMENTATION-

The John Players Watches geographic target area will be initially the showrooms in Metro cities, Malls & Watch stores in Popular markets of Tier 1 and tier 2 Cities.

DEMOGRAPHIC AREA- 

Demographic can be on the basis of- • Age• Education• Lifestyle• Social life

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MARKET GROWTH: 50 million wristwatches are sold in India every year. So, the market growth is at Peak for our product.

(http://indiaindustrystatistics.blogspot.in/2010/04/indian-wrist-watch-market.html)

MARKET NEEDS: The followings are the major needs for our major Customer segments.

• Youngsters: Watches are always been a style statement for Youngsters.• Matures: for mature persons, watches are regular object to use. • Professionals: for professional persons, watches are Status Symbol.  

MARKET TRENDS:  In the current market scenario, watches are style & status symbol for people. They are looking for different varieties and designs.

http://indiaindustrystatistics.blogspot.in/2010/04/indian-wrist-watch-market.html
http://indiaindustrystatistics.blogspot.in/2010/04/indian-wrist-watch-market.html
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SWOT ANALYSIS :

• Popular Brand name.

• Large network of exclusive stores and service centres.

• Already in men accessories.

• Maintained market segment of middle income group.

 

STRENGTH: -

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WEAKNESS :

• Products have a short life due to changing trends – Adds to the cost of production.

• Limited global reach despite being a popular brand. 

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OPPORTUNITIES :

• Fast growing youth segment presents growth opportunities.

• Global penetration would help brand grow and target youth worldwide.

• Tie-ups with fashion houses and special schemes for youth 

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THREATS :

• Youth segment is price sensitive.

• Entry of foreign players has led to tough competition.

• With lots of options available, brand switching is quite high. 

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COMPETITION:The ‘John Players Watches “can face a competitive environment. Because the competitors of John Player’s watches are already in the market, and they are:

• Fasttrack• Timex• Casio• Maxima• Giordano

John players Watches could have the biggest completion with “Fasttrack” watches because:-

• Price segment is almost same• Fasttrack is already a established brand • Target market of our brand is same as that of fasttrack.

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MARKET SURVEY: • Sample size- 15• Survey location- John players Showroom in PHOENIX. Questionnaire of survey

1.Do you use John Players Accessories?  Yes  No

2.Would you like to use John Players Watches ?  Yes  No  May be

3.Which Price range would you looking forward for?  800-1500  1500-3000  3000 & Above

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Survey Result :

Yes 12 80%

No 3 20%

Yes 8 53%

No 0 0%

May be 7 47%

Q1. Do you use John Players Accessories?

Q2. Would you like to use John Players Watches?

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800-1500 4 27%

1500-3000

9 60%

3000 & Above

2 13%

Q3.Which Price range would you looking forward for?

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MARKETING MIX :

• Product• Price • Place• Promotion

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Product :John players watches is our prospected product of ITC Ltd. This product can have these variables :- Quality: - ITC is always been famous for their best quality delivering. So, we will continue this believe of customer with our new product. 

Features: - Features of a product could give a competitive edge to our product. Some of the features of our watches could be.• Excellent Style • Trendy colours • Precise Time• Durable Battery life • Variety of dial and straps

Brand name: - Brand name is the most essential part of any new product. John Players is already a well-known brand in Life style Retailing.

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PRICE:• The price of john players watches will be according to our

target market Middle income group .

• List price:- List price of our product will be in two different ranges-

I. 800-1500II. 1500-3000

 

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PLACE: The place will include various aspects like :-

• The place of manufacturing.• The place for warehouse.• The place for showcasing.

  It should also be easily available to the distribution channels-

MANUFACTURERS

DISTRIBUTORS

SHOWROOM

CONSUMERS

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PROMOTION :Promotion is the way to communicate a product to the prospective buyers. For our product, we have chosen different aspects for promotion strategies.

CRITERIA FOR PROMOTION -

• Awareness• Knowledge• Preference• Purchasing• Liking 

MAIN SOURCE OF PROMOTION

• Electronic media• Print media• Bill boards• Hoardings

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SPECIAL PROMOTION STRATEGY :

• INITIALLY PLACING THE PRODUCT IN THE SHOWROOMS AND OUTLETS OF JOHN PLAYERS ONLY.

• THE COMPLETE MAKEOVER OF THE CUSTOMERS CAN BE DONE STARTING FROM THE APPARELS TO THE BELTS, WALLETS AND OTHER ACCESSORIES LIKE THE TRENDIST WRIST WATCHES.

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HISTORY OF JOHN PLAYER SPECIAL

John Player Special Watches:-

In 1975, John Player Special  introduced a Special collection of Wrist Watches to promote their high class image of their Main Product “Cigarettes” .. 

These Watches were introduced just for the promotion of their main product “Cigarette”. They didn’t focus to make it a new product line in their brand.

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“Our Vision is to make people aware about the real brand value of john Players by giving them a Product which was lost in the lap of time.”

OUR VISION: -

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Marketing StrategyThe key of marketing strategy is the focus on the “Positioning” of the new Product by making the customer aware about the history of John Players. STP- (Segmentation, Targeting, Positioning)  Segmentation: - As the brand john players is already in the segment of

youth apparels for the people residing in Tier 1 & Tier 2 cities, so the segments of our Product remains the as of the Brand.

   Targeting: - For John Players Watches, our target will be the Age group

between 15-35 years and especially Males.    Positioning: - Positioning will be the “Key Success Factor” for our

product. For positioning the new product, we decided it to relate it with the old Brand of “John player Special”.

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THANK YOU


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