Category Attractiveness
Assignment #1
Category Attractiveness Analysis of Maxima Watches
Course Title: “Product & Brand Management” Course Code: MGT 532
Submitted To: Anju Sahni
Submitted By: Varun Puri Sr. No. :28 (AG 2) Roll No.R1805 A 19 Reg. No. : 10800464
Lovely School of Business Lovely Professional University
Introduction
Indian watches market was for long dominated by public sector organisations like Hindustan Machine Tools Ltd. (HMT) and Allwyn (also famous for its refrigerators once upon a time!), and has now left the pioneers far behind or nowhere in market by private sector enterprises like Titan, Sonata, Ajanta and Timex along with foreign entities jostling for display space in the smallest of shops selling these products. In post liberalization India, the market stood to witness intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Fréderique Constant, Mont Blanc, Swatch, and many others. Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently. Maxima watch co. was born in 1996 out of the vision to serve the economically weak segments of our society. Until then, the vast majority of people had the option of buying either an expensive wristwatch at above Rs 500 or be fleeced by the smuggled or duplicate watches selling at throwaway prices but with no assurances of quality or service. Maxima was the result of a vision to serve this vast majority through a product that was accurate, reliable, guaranteed for quality, backed by after sales service, a national brand but more importantly honestly priced at Rs 350. The success of their single point communication of "India 's first guaranteed waterproof watch at Rs 350” created history of sorts in establishing high brand awareness and recall amongst our target audience The Changing Face of Maxima: Maxima began with the most memorable commercial of the watch falling in the pool.
Category Attractiveness Analysis of Maxima Watches
Course Title: “Product & Brand Management” Course Code: MGT 532
Submitted To: Anju Sahni
Submitted By: Varun Puri Sr. No. :28 (AG 2) Roll No.R1805 A 19 Reg. No. : 10800464
Lovely School of Business Lovely Professional University
Introduction
Indian watches market was for long dominated by public sector organisations like Hindustan Machine Tools Ltd. (HMT) and Allwyn (also famous for its refrigerators once upon a time!), and has now left the pioneers far behind or nowhere in market by private sector enterprises like Titan, Sonata, Ajanta and Timex along with foreign entities jostling for display space in the smallest of shops selling these products. In post liberalization India, the market stood to witness intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Fréderique Constant, Mont Blanc, Swatch, and many others. Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently. Maxima watch co. was born in 1996 out of the vision to serve the economically weak segments of our society. Until then, the vast majority of people had the option of buying either an expensive wristwatch at above Rs 500 or be fleeced by the smuggled or duplicate watches selling at throwaway prices but with no assurances of quality or service. Maxima was the result of a vision to serve this vast majority through a product that was accurate, reliable, guaranteed for quality, backed by after sales service, a national brand but more importantly honestly priced at Rs 350. The success of their single point communication of "India 's first guaranteed waterproof watch at Rs 350” created history of sorts in establishing high brand awareness and recall amongst our target audience The Changing Face of Maxima: Maxima began with the most memorable commercial of the watch falling in the pool.
References: Internet http://www.worldamazingrecords.com/2008/05/watches-fashion-trend-in-india.html http://www.infibeam.com http://www.worldamazingrecords.com/search/label/wrist%20watches http://www.newmediacomm.com/publication/swiss/60years/focus2.html Books Lehman, Donald R., Product Management 2005, Tata McGraw-Hill.