1.

Conduct a comprehensive market analysis for watches in India, and apply your
findings to argue the reasons behind the failure of HMT.
Ans- The Indian watch market is in its developing phase as it is growing year on year and
increasing its market share.
Market Analysis
i. Key players in the market and market share
 Titan – 61%
 Timex – 21%
 Citizen – 4%
 Fastrack – 5%
 Others brand – 2%
ii. Turnover and market analysis
iii. Top competing brands, brand history and USP
 Titan – It is a joint venture between data group and Tamil Nadu industrial
development corporation, Launched in 1984, today it is world sixth largest
integrated and India’s largest watch manufacturer. It started it first plant in
Hosur near Bangalore
 Timex – It is an American company started in 1854. It was originally founded
as clock company in Waterbury, Connecticut
 Citizen – It is an Japanese Company headquarter in Tokyo. It was started in
the year 1918.
 Fastrack – Founded in Year 1998 with headquarter in New Delhi. Fastrack
target on youth segment of customer
 Others brands
iv. Growth of market in last 5 years –
Segment Volume (lakh Price Value(Cr.) Growth Rate
piece)
Mass 370 <1,000 1700 5-7%
Mid 86.5 1001 – 10,000 1600 8-10%
Premium 2.1 >10,000 900 15-20%
The sales values is increasing 10-15% per year, 27% penetration in watch, 3.5%
Indian owns multiple brand.
v. Business model of key players -
vi. Strength and weakness of the Players
Companies Strength Weakness
Titan - Market share of 61% in India - Do not tap the rural
- It uses cutting edge technology for market
stylizing - Failure to keep the
-Monopoly in the Indian Market middle income market
-Wide range of product share
 -Slimmest watch of the world - Price of Titan is higher

Timex - High brand Awareness - Many product

- High quality product - Fake Imitation
- Strong technology - Weak supply Chain

vii. Key market segments

The key market segments are divided into- Mass, Mid and Premium

viii. Factors influencing consumer buying behavior, buying decision

- Price
- Durability and stability
- Trendy design is important
- Brand Name
- Availability in different segment
Reason behind failure of HMT
- HMT always focused on analogue watch never went for electronic watch
- Production was in small quantity
- Variety was less
- HMT was design pedestrian
- Brand name was more valued
- Watches were not stylish
- HMT showed lack of courage in decision making
- HMT accuracy and reliability was easily matched by Titan
- HMT was always a timekeeper