XYLYS: EXPLORING CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN THE INDIAN CONTEXT
SUBMITTED TO: - SUBMITTED BY:-
Professor Dr. D.D Swain Iliyas ahmad Associate Professor (Marketing) 1st Year PGDM
I Iliyas ahmad, student of IMI Bhubaneswar PGDM 2012-2014 1st batch declared that the case study analysis has been entirely done by me without any support from anyone or anywhere.
S. NoTitle Page No.
1. Introduction of case study 4
2. Market analysis5-6
3. Basic issues 7
4. Solution 8
xylys was a premium watch brand launched by titan a few year ago. Brand was aimed creating unique perception among consumer.
Xylys, Titan's latest watch collection. Exuding style, attitude and power, the watch is all set to storm the premium watch segment in India so far dominated by well-known European brands. Titan aims to bring about a redefinition of sorts in the premium watch segment with Xylys. It is targeted at new generation achievers who go beyond the obvious, who know who they are and set their own standards and live by their own values. It is a style statement for those who stand apart from the crowd.
Xylys has been created in collaboration with renowned Swiss designer Laurent Rufenacht and Titan's own design advisor Michael Foley. It is manufactured in a state-of-the-art factory in Switzerland, which is backed by a heritage of 80 years in the art of Swiss watch making with all its intricate trappings of exquisite craftsmanship and impeccable detailing. All the watches are created with a fine sense of design, painstakingly made from carefully selected materials and crafted with a passion for detail. Every aspect of a Xylys watch, right from its movements to the refined watch face and hands and the bold yet elegant case, contribute to the uniqueness of the Xylys timepiece.
Priced between Rs10000 and Rs33000, the Xylys range of watches come in three collections — Contemporary, Classic and Sport and offers over 60 distinctive models. The name xylys was designed to have two syllables, a distinct name in itself. The brand charter aimed to convey style, attitude and power. The brand was targeted at today’s people, both men and women, who were supremely confident and conscious of the image they projected. Xylys with its unique positioning of the “power of X” underline the power of one’s attitude.
GLOBAL MARKET: The watch industry witnessed the steepest decline in 2009 in terms of exports and revenue generation. Swiss exports, a benchmark for the worldwide watch market fell noticeably in 2009. Exports from Hong Kong and China also fell by around 19.8%. Watches costing over US$200 especially came under the yoke of recession, as consumers traded down to lower price points, opting for products that offer value-added features and capabilities at competitive prices. Luxury watches costing between US$1000-US$5000 lost their sheen during 2009, especially in mature markets such as US and Europe as consumers found it difficult to justify big spending. History of Indian watch market: - The Indian watch industry origins in 1960 with HMT janata being launched in 1962. Before the establishment of HMT as the dominant player in the Indian markets initially, the country was solely dependent on imports to meet the internal demand. However, establishment of HMT as the leading player in the wrist watch segment in the 1960’s, changed the scenario. HMT was the first manufacturer in India and the sole player, until Titan industry limited-a Tata...