WRIST WATCH

PRESENTED BY AASHISH PRAJAPATI

OBJECTIVE OF THE STUDY

Increasing relevance to the consumer 2. Increasing occasions for use 3. Making the brand serious 4. Falling sales 5. Bringing in new customers 6. Making the brand contemporary 7. Differentiate from other brands

INTRODUCTION
Wrist Watch brand mainly target youth segment. Youth is perhaps the most difficult demographic group to communicate with. Not only they have a short attention span, they are also elusive in media consumption, fickle in brand preference, and simply challenging to engage and entertain. Marketers spend millions in marketing research every year trying to predict, or anticipate, changing youth behaviors. With the continually proliferating choices of trendy watches, not only does this group embrace technology at an early age, it quickly becomes the early adopters of all new trends and convergent platforms. One can argue that whatever youth does today foreshadows what older demographic groups will adopt in the near future. All this makes it extremely difficult to understand and target their behaviors.

STP Analysis

SEGMENTING: Wrist watch can be majorly segmented on the basis demographic factors and price. On the basis price the market can be segmented into low priced, medium priced and high priced. The low priced watches are priced less than Rs.1000, medium priced watches are priced from Rs1000 to Rs.3000 and highly priced are priced above Rs.3000. Wrist Watch has unveiled products in all the segments. The range of Wrist Watch watches is from Rs. 500 to Rs.4000. On demographic grounds, the market could be segmented on the basis of age. The watches could be targeted at kids, youth and middle aged people. Wrist Watch watches were launched to cater to the needs of youth at first however it introduced watches for kids also later on.

PRODUCT VS. PRICE

PRODUCT AND PRICE: There are a variety of collections of Wrist Watch watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific customers. COLLECTIONPRICE RANGETARGETSport2000-4000Men onlyArmy20003500Both men and womenAdventure1000-2000Both men and womenBasics500-1500Both men and womenGrunge1000-2500Both men and womenAluminium500-1000girls onlyColour Play1000-2000girls onlyDigital Fashion500-2000Both men and womenEssentials10002500Both men and womenParty1500-3000Both men and womenPairs3000-3500Pair Neon - Disc1000-2500Men onlyNeon5001500Men onlyXY1500-3000Both men and women PROMOTION Advertising: advertising is in the form of television commercials. The company uses youth icons to portray the trendy and funky look of the brand and to associate with it. Public displays also play an important role in promotion. The colorful and lively bill boards play an important role in promotion. PLACE Channels: The product is sold at almost all the leading watch stores and shopping malls. The company has also established branded stores and it is also available in Titan stores. Coverage: the products are available all over India.

METHODOLOGY OF THE STUDY

INTRODUCTION: The research methodology is a procedure of collecting data to find out purpose. The data collection distinguished in secondary and primary data including description of the target population, survey method, design of questionnaire and presenting and demonstrated finally, used methods for the analysis and conclusion.

Limitations
The study is confined to Navi Mumbai area only There is possibility of sampling errors in the study The responses of the consumers may not be genuine The questions included in the questionnaire may not be comprehensive.

DATA ANALYSIS

Description: 68% of women have used Wrist Watch watches at some point of time. Comparatively less number has used than men.

RECOMMENDATION

To increase its visibility, Titan Company can sponsor events similar to fashionshows in which all latest designs launched are displayed. This would have multiplier effect as the latest designs launched by the company get noticed by different segments of the customers in varied ways. Tie up with FM radio channels for reminder advertisements and informing customers about various sales promotion offers from time-to-time. Invest more in R&D as customer expectations are changing rapidly. Though Titan has got more product collections, it should focus on introducing more varieties in already existing product collections. In other words, having a limited but more depth in product collections would be more advantageous. Introduce exclusive collection for working women which is more contemporary and complements both traditional and western wear.

BIBLIOGRAPHY

Sengupta Subroto (2006), Brand Positioning: Strategies for Competitive Advantage. Second Edition, Tata McGraw Hill Publishing Company Limited, New Delhi. Gopalakrishnan PS (ed.) (2007),Rebranding: An Introduction. ICFAI University Press, Hyderabad. ICFAI Journal of Marketing Management ICFAI Journal of Brand Management University of Mumbai [61] YMTs College of Management www.marketingprofs.com www.brandingstrategyinsider.com www.thehindubusinessline.com www.economictimes.com