Market Study of Watch Brands

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Plan of Action
11th Feb: - Final Submission

10th Feb: - Binding

9th Feb: - Final Editing & Formatting

5-8th Feb: - Editing and Correction of Analysis & Findings

4th Feb: - Report Draft Submission to Mentor

3rd Feb: - Reading & Drafting of the Project

28-31st Jan: - Chapter 5

22-27th Jan: - Chapter 3 & 4

17-21st Jan: - Chapter 1 & 2

ABSTRACT

Most of the fashion accessories which are considered luxury items are now becoming basic necessities, among the most popular accessories today is the wrist watch. Wrist watches today have become the integral part of an individual and are reflection of his/her persona.

India is home to the several top watch brands like Timex, Citizen, Titan and Sonata. These top home brands in India offer variety of watches that caters to the different requirements of the consumers, but these brands are facing tough competition from the numerous foreign brands like Movado, Rado, Rolex, Longines and Swatch.

This project covers time-keepers at national and international levels. The project includes the study of marketing and positioning strategies of the various watch brands for men. Various features of watch like quality, price, design, brand image, warranty are considered that affect the consumer buying decision. Promotional techniques that aware the consumers about the brand and motivates him to buy a particular brand are studied.

OBJECTIVE: -

1. To study the distinctive international and Indian men’s watches brands available in India and to analyse their marketing and positioning strategies which differentiates them from each other.

2. To study the consumers perception towards the existing brands.

3. To analyse what, where and why consumers are buying.

4. To find the market leader in the watch segment

RESEARCH METHODOLOGY: -

The project includes primary and secondary method of data collection formulate the study; it includes the survey, cases studies and analysis based on literature research on various branded watches. The process includes descriptive research.

SCOPE of PROJECT: -

The project is to study the marketing strategies of the men’s watch brands. The project is to create a successful analysis of how international and national watches brands position themselves in India.

LIMITATION of PROJECT: -

1. The survey done in this project is confined to the regions of Delhi hence cannot be representative of India as whole.

2. The study is conveyed only on three international (Tissot, Citizen & Tag Heuer) and three Indian (Timex, Titan & HMT) watches brands.

3. Some of the respondents being rarely interested gave some rough ideas just for the sake of answering.

Chapter 1- Introduction

Chapter 2- Literature Review

Chapter 3- Case Study & Brands Presentation

Chapter 4- Analysis

Chapter 5- Findings & Recommendations

INTRODUCTION

The purpose of this project is to implement my learning of fashion marketing in to study the marketing strategies, branding and consumers of different men’s watches brands in India.

With the fast pace of economic growth, the Indian watch market has also changed. From “Need”, it became “Demand” Different brands with different technology, design and innovations have entered into the market. In India today 50 million wristwatches are sold in India every year, in value terms the size of the market is worth Rs.4, 000- 4, 200 crores it is expected to grow around Rs.8, 500 crores more than double in next five years with the growth rate of ten to fifteen percent every year. The drivers responsible for the growth of the Indian watch market are the youth driven society and economic growth, increasing consumerism, large number of high net worth individuals and also the expansion of modern retail will contribute to the growth as the organized sector has command on 40% of market and rest 60% is under unorganized.

India is the home of several watch brands like HMT...
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