Presentation on wrist watch (mid - range)

Indian Watch Market

The overall size of the Indian watch market is estimated to be around 40-45 million wristwatches with a double-digit annual growth of around 10%.

It is estimated that 20-25 watches are sold for every 1,000 citizens. More than 90% of the watches sold in the country cost less than 1374.50 INR The annual market size of the Indian watch market is estimated to be around US$ 195 million
There are several price points for watches in India - Low, Medium, High, Premium and Luxury starting from Rs 434.50 right up to Rs.108706.50 onwards. Around 70% of the watches sold in India have a price point of less than Rs.1099.56

Indian Watch Industry Trends

Rapid increase in target audience Rise of consumerism and purchasing power of the middle class Bulk of the demand exists in lower and middle segments Rise of demand of trendy watches The fashion statement on your wrist Rising Demand for Six-Figure Watches Luxury

STP Process
Dividing the market by grouping the customer with similar tastes and preferences into one segment is called is called segmentation. Individual marketing segmentation where I will focus on individual customers that is my target audience will be from age group of15 yrs -30 yrs segmentation of consumer market Here taste, preference fashion , style , status, need , demand will be kept in mind while segmenting

Targeting
It is the second stage of the Segment Target Position (STP) process. After the most attractive segments are selected,

The ability of company to enter the market as company is launching wrist watches for age group from 15 yrs to 30 yrs , it has variety of wrist watches for this segment that too which fits in their budgets ,company has kept in mind the strategy of competitors their weakness & strength so ha to gain some stability in market as it I launching its new product in market among the well known competitors

. Analyzing competitors SONATA :. This brand is well known for its affordable range of watches designed with the typical watch customer in mind starting price 275 Rs TIMEX: Over half a century ago, Timex revolutionized watch making by using cutting-edge technology in products in outdoor, sports and style categories. Today, Timex is a household name synonymous with design, durability and performance Starting price 535 Rs

CITIZEN: Citizen, collection comprises 65% for men and 35% for women, The specific approach taken by Citizen was to build a universally trusted and recognized brand as well as a technological and physical infrastructure that can scale

Considering the companys abilities compared to the competitors launching wrist watches for age group of 15 yr to 30 yrs Available in wide ranges of Innovative designs, eyecatching colors, jewel-set version, style like funky decent, sporty, party wear, fashionable according to today market, waterproof, size like thin belts broad belts with different size of dials, changeable dials & affordable prices

Deciding on the actual target markets. Age group 15yrs to 30 yrs Targeting middle class people Targeting those group who keep on changing their style accordingly Group who is found of continous changes

POSITIONING
A watch that builds your image Quality product with reliability, performance, elegance & sportsmanship with latest design Which fulfill emotional & artistic needs with your lifestyle statement A brand which represents style, status and technology A Good Looking Watch You don't have to be rich to afford this watches as it is midrange segments Trendy, Decent & stylish Technologically superior multifunctional

Communication goals

To communicate the product related company objectives to its target market through right medium to create awareness of the product. Imparting knowledge about the product and its availability in market Projecting a positive and user friendly image of the product with target market. Shaping the attitudes of the target market in the way to persuade them for the usage of the product. Stimulating a want or desire for the trial and further usage of the product.

SWOT: STRENGTH:
The range of watches the brand is to launch are of mid range. Available in variety of color combinations, styles, designs. Easily available in market at the WRISTO watch stores. less competition due to its mid range and offering of variety with the same range.

WEAKNESS:
Brand loyal people will find it difficult to switch to another brand like WRISTO living their brand even though WRISTO offering mid range watches with a lot of variety. Competition of brands with mid range watches.

OPPORTUNITIES:
Launching expansion of the product covering the other segments of the market. Bringing up changes in current product line. Sales increase expectations.

THREATS:
Competitors might try to overcome the product by launching similar line of product in future. The recall for the product not sustained in the minds of the target market. Increase in the purchasing power of the consumers letting them to switch to premium brands.

About my product

Product : wrist watch Name : Wristo ( because you deserve the change ) Price: starting from Rs. 499 to Rs 5000 Features :Available in wide ranges of Innovative designs, eye-catching colors, jewel-set version, style like funky decent, sporty, party wear, fashionable according to today market, waterproof, size like thin belts broad belts with different size of dials, changeable dials & affordable prices

Pricing Policy & strategy

Will apply the concept of providing quality product at optimum price Will provide Lucrative discounts, deals and schemes Will adopt sales oriented objective

Will Have one price policy to maintain a goodwill among customers (at least for 5 yrs)

DISTRIBUTION
Manufacturer Dealer Retailer Customer single watch retail outlets departmental stores and showrooms displaying watches. retailing concepts such as shop-in-shops, exclusive corners and attractive display counters, etc. & mall space later go for exclusive showrooms Set up a chain of service centers, with close proximity to the marketplace Innovative planning of showrooms

MEDIA MIX:
o Each media category has unique characteristics. o television will offers visual impact that interweaves sight and sound, often within a narrative storyline for my product oMagazines will offer high reproduction quality but must grab the consumer with a single static image. o Direct mail can carry free samples but can require compelling ad copy in the letter and back-end infrastructure for some form of consumer response by return mail, telephone or Internet. oRich media ads on the Internet can combine the best of TV-style ads with interactive response via a click through to the brand's own Web site.

Media strategy
The crucial decisions: where to advertise (geography : 10 metropolitan cities) when to advertise For TVC: channels like MTV , V Channel sports channel, scheduling will be on continuity bases and what media categories to use (media mix: magazines like femina, fashion magazines, sports magazines or youth based magazines Newspaper like Bombay times , Sunday special editions, Mumbai mirror n regional newspapers). Moreover the decision to be taken with the budget constraints The actual amount of money that an advertiser spends on marketing communications can vary widely.

Promotional activity
pre-launch activity, to secure distribution and ensure that the sales channel (including resellers, retailers, etc.) have the skills, resources, and knowledge to market the product launch activity: Make target segment aware of the product(trailor ads of the brand in tvc, magzines, newspapers initially.) Build an image of brand ( once the target market has been introduced to the brand and product.) internal communications (or "internal launch"), to guarantee high levels of awareness and commitment to the new product; launch events at the malls, big multi watch stores, TVC ads, newspapers, radio, magazines, all at national, regional, and/or local level;(at the launch period of the product)

For TVC there will b 3 types of scheduling The flight scheduling approach alternates advertising across months, with heavy advertising in certain months and no advertising at all in other months. . Continuity scheduling spreads media spending evenly across months. This method ensures steady brand exposure over each purchase cycle for individual consumers. It also takes advantage of volume discounts in media buying. Pulse scheduling combines the first two scheduling methods, so that the brand maintains a low level of advertising across all months but spends more in selected months Post launch period Coupons Discounts Gifts Packaging( will undergo changes) Will b offered during festivals, occasions n during sale period; considered as the post launch strategy to b followed.

PR ACTIVITY
hiring up a pr agency which can handle each segment of the target market selected in stp process and formulate promotional activities accordingly. keeping a track throughout the pre-launch n post launch period of the product and then sustaining the brand image constant in the minds of the target market. bringing up exciting brand extensions in the market to expand the target market. taking charge over the crisis the brand might face due to competition, changing attitudes of consumers, and many more; and making strategies accordingly for the brand reinforcement and brand revitalization. making advertisement budget suitable and the secondary priority once the product is a known one in its target market. ensuring maintenance of a cordial relationship of consumers with the brand and company.

The future scope for my brand

The

scope for my Wristo watches are expected to have an positive increase in market As my watches are of mid range & they are available in varieties And according to the consumers needs & requirement that will fit in their budget A product which will compliment their personality & status in society. Its is available in market that means it is in reach of T.A