Perceptual mapping is a graphics technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers. Typically the position of a product, product line, brand, or company is displayed relative to their competition. In this discussion, we have analysed the concept of perceptual map on Indian Watch Industry. The concept clearly gives an insight of the Indian watch industry. The Indian watch industry started with the era of HMTs when watches were purely viewed from a utilitarian perspective.
In the graph below, we have put the positions of several brands and sub-brands of Indian Watch Industry. They are Tag Heuer, Longines, Omega, Timex, Rolex and sub-brands of Titan which are, Titan Edge, Nebula, Regalia, RAGA, Fastrack, Xylys and Sonata. These brands are the popular brands of India. Here Titan Industries is the world's sixth largest wrist watch manufacturer and India's leading producer of watches under the Titan, Fastrack, Sonata, Nebula, RAGA, Regalia & Xylys brand names. Titan Industries has claimed to have manufactured the world's slimmest wrist watch - Titan Edge. Fastrack is a popular brand among youth in India. Fastrack watches come in a variety of styles, shapes and colors. It is very trendy and stylish. Xylys is a brand for luxury segment. Titan RAGA is like for the replacement of jewellery for women. That indicates that Titan RAGA is traditional and premium also. On the other hand, Longines is an icon of success, prestige and beauty.
The graph is given below-
In this graph, the right side of X axis indicates the “Trendy brands” and left side indicates the “Traditional brands”. On the other hand, the upper side of Y axis determines the “Premium brands” and lower side of Y axis determines the “Economy brands”.
In this map, it is shown that, the most premium brand is the sub-brand of Titan, which is Nebula. Next comes TAG Heuer. Then...