Essay, 30 pages (8000 words)

Exploring consumer perception about premium watches in indian context

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Published: September 27, 2022
Updated: September 27, 2022
Language: English
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He had formulated several facets of marketing mix schemes in the yesteryear to face diverse sorts of challenges. For Chakravarti. any challenge in the ticker industry. particularly in an emerging market such as India. was something he looked frontward to. as it gave him huge satisfaction when he was able to happen some penetrations. Xylys was a premium ticker trade name launched by Titan a few old ages ago ; the trade name was aimed at making a alone perceptual experience among consumers.

The challenge was to make and determine a perceptual experience unique to the trade name. since premium tickers in India were associated with the Swiss trade names Omega and Rolex. or Tag Heuer and other similar trade names. which were more modern-day in nature. There were several interesting possibilities for Chakravarti to see. Would a conventional-positioning attack be sufficient? Was it necessary to obtain some penetrations sing the application of the uniqueness facet to the self-perception of consumers?

How were such facets of uniqueness related to other established trade names? How of import was the “ Swiss-made” label? Did the purchasers and prospective purchasers of premium tickers hold any specific stereotyped images of such tickers? The instance delved into several facets of the perceptual Fieldss associated with consumer behaviour with the aim of happening the most appropriate attack to foster the chances of the Xylys trade name.

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The liberalisation of markets. the lifting disposable income. exposure to western life styles. and the demand for the new coevals to set up an individuality for itself were some of the grounds for the growing of the luxury ticker class in India. Consumers were purchasing non merely lasting classs that were utile to them and satisfied functional facets. but besides classs and trade names that reflected their personality. India had 28 provinces and seven brotherhood districts with a population of 77. 42 million urban families.

The income degrees were categorized as follows: 62. 7 million families earned up to INR 1. 50. 000 ( Indian Rupees ) per annum ( 1 USD was tantamount to about 45 INR ) . 11. 6 million families earned between INR 1. 50. 000 to INR 3. 00. 000 per annum. and 3. 1 million families earned 1

more than INR 3. 00. 000 per annum. With regard to the disbursement of families on top 10 necessities across all 2 categories of consumers. tickers figured at the 8th place. on an norm. The latest McKinsey study on India’s consumer market pegged disbursement on personal merchandises and service necessities ( tickers were included as the 8th most needed point. as described above ) at 8 % share-of-wallet ( SOW ) in 2005 ; this was expected to mount up to 9 % 3

SOW by 2015. and to 11 % SOW by 2020.

THE WATCH INDUSTRY IN 2011Global

“ The Marketing White Book 2010–11: One Stop Guide for Marketers. ” BusinessWorld. New Delhi. 2010. pp. 52–54. Ibid. . p. 63. 3“ The ‘ bird of gold’ : The rise of India’s consumer market. ” McKinsey Global Institute. May 2007. hypertext transfer protocol: //www. mckinsey. com/mgi/publications/india_consumer_market/images/India_Interactive1. swf. accessed on April 11. 2011.

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S. Ramesh Kumar and Kasturi Baral prepared this instance for category treatment. This instance is non intended to function as an indorsement. beginning of primary informations. or to demo effectual or inefficient handling of determination or concern procedures.

Copyright © 2011 by the Indian Institute of Management Bangalore. No portion of the publication may be reproduced or transmitted in any signifier or by any agencies – electronic. mechanical. run offing. entering. or otherwise ( including cyberspace ) – without the permission of Indian Institute of Management Bangalore.

This papers is authorized for usage merely by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or poster is an violation of right of first publication. [ electronic mail protected ] or 617. 783. 7860.

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A important diminution in the planetary production of tickers was witnessed in 2005–2009. with the volumes in 2009 at a fifth of the expected Numberss. 4 This was attributed to the plumping demand in the recession-hit markets of the United States. Japan. and Europe. among others.

The premium section suffered the worst. with the exports of Swiss tickers dropping by 22 % in 2009. despite holding risen to an unprecedented high the old twelvemonth. 5 However. what was incomprehensible was that while the remainder of the universe found even regular tickers unaffordable. the developing markets of China and India were sing growing in consumer demand for luxury and premium ticker merchandises.

India

In five old ages. the Indian ticker market had grown at an mean rate of 8 % per annum. 6 The recession during 2008– 2009 hindered the sector’s growing. with a bead in the gross revenues of luxury and premium tickers. which was compensated by the growing of volume in the economic system section. 7 Therefore. despite the planetary tendencies. the value and volume figures for 2009 stood at 40. 6 billion units and INR 54. 6 billion. with a growing of 8. 5 and 15. 4 % in volume and value. severally. 8

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In footings of class gross revenues. the highest portion. as per value. involved tickers priced between INR 500 and 3. 000. The premium segment—retailed between INR 4. 000 and 15. 000—had been turning at an exponential rate of 20 % yearly. 9

Low per capita ingestion on the one manus and the turning demand for luxury tickers on the other constituted the factors that forecast the compounded one-year growing rates of 7. 3 % and 13. 7 % in volume and value. severally. for the period 2009–2014. 10

INDIAN WATCH INDUSTRYHistorical Position

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The Indian ticker industry had its beginnings in the sixtiess. with HMT’s Janata being launched in 1962. Before HMT. tickers were sourced entirely from imports. and could be afforded by merely a little figure of consumers. HMT was the first major ticker maker in India. and the sole autochthonal participant. until Titan Industries Limited—a Tata and TIDCO articulation venture—was formed in 1984. and started retailing tickers in 1987.

Titan. with its focal point on fulfilling the customer’s mute demands. bit by bit wrested market power and portions from HMT and became the unchallenged leader in the wrist watch section over the last three decennaries. The merely other major Indian participant was P. A. Time. with its trade name Maxima. which managed to last despite ferocious competition. Other autochthonal trade names such as Allwyn. Shivaki. and SITCO failed to maintain up with Titan and languished. with fringy to negligible market portions.

In 1992. liberalisation opened up the Indian market to foreign participants. and Timex was the first on the scene. It was shortly followed by Casio. Rolex. Citizen. Tissot. Omega. Rado. and TAG Heuer ( the new export–import ( EXIM ) policy introduced in 1999 relaxed the hitherto stiff upper saloon on imports of luxury wristwatch trade names ) . After the foreign direct ordinances were changed by the authorities to let up to 51 % of foreign direct investing in single-brand retail operations. planetary trade names set up subordinates in India with apparel trade names such as Esprit. Tommy Hilfiger. Benetton. and Levi’s. besides establishing trade names of their ain.

Growth of Industry

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The Indian ticker industry began in the sixtiess with the populace sector endeavor HMT. which was the government’s enterprise to get down the autochthonal industry of tickers. The import industry brought in the more stylish tickers. but the basic demand for timekeeping was satisfied by the sturdy and dependable mechanical wrist watch theoretical accounts

“ Watches in India. ” Country study. hypertext transfer protocol: //www. euromonitor. com/watches-in-india/report. accessed on July 22. 2011. Ibid. 6Ibid. 7Ibid. 8Ibid. 9Ibid. 10Ibid. 5

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manufactured by HMT. In the absence of other trade names. HMT could afford to retain goodwill despite offering limited styling and picks to its clients. A few decennaries before ( when HMT held a monopoly in the class ) . a ticker was a merchandise that anyone who had taken up a occupation aspired for. Traditionally. the incursion degrees were rather low during this clip ; the impression of a “ watch for the masses” was diffused in the mind of consumers merely after the late 1880ss. when the state witnessed major lifestyle alterations. The 1890ss enhanced this perceptual experience as many trade names entered the market following the liberalisation of governmental policies.

The Tata group introduced the quartz ticker in the 1980s under the Titan trade name. and differentiated themselves on the footing of truth. manner. pick. presentation. and vigorous push-marketing. 11 Timex. in coaction with Titan. launched its scope in India in the 1890ss. with a common apprehension that the former would maintain to the low-price plastic section. while the latter would pull off the high-price metal section.

Timex positioned itself with the tagline “ You don’t have to be rich to afford a Timex. ” and was good accepted by the market. After a few old ages. Timex became an independent trade name and put up its ain distribution channels. and emerged as a trade name associated with the athleticss and insouciant wear section.

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Early on in the 20th century. many transnational participants entered the market. which was made possible by the EXIM policies that raised the saloon on the import of luxury tickers in India.

AN OVERVIEW OF THE COMPETITION

The individual largest participant was Titan. with a trade name portion of 20. 6 % in 2009. 12 The following participant worth adverting was Swatch. with a comparatively little portion of 5. 9 % . 13 Timex was a comparatively strong transnational trade name in the market. Rolex. PA Time. Citizen. and Casio had little important portions. and HMT was besides present in the Indian market.

Despite the presence of many trade names. the market was still chiefly controlled by the unorganised sector ( to the melody of 65 % ) even in 2009. The present competition arose from the increasing raid of transnational participants into the moneymaking luxury section ; nevertheless. the existent challenge was to undertake the specious imports being sold by the unorganised sector.

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Watchs transformed from clip maintaining instruments to manner accoutrementsduring the 1880ss and 1890ss owing to important lifestyle alterations ; this was reflected in some of Titan’s advertizements. Watches as manner accoutrements were in competition with a assortment of other merchandises such as dress and manner pocketbooks ; hence. tickers had to hold a clearly differentiated component of sensed public-service corporation apart from manner. 14

Cleavage OF THE WATCH MARKETThe ticker industry could be segmented harmonizing to assorted standards: engineering. benefit. and monetary value.

Watchs could be classified into three sorts based on engineering: mechanical. quartz parallel. and quartz digital. The first went out of trend since the bulky mechanical format did non let for elegant design ; it dropped in volume portions from 7. 2 % in 2004 to 4. 6 % in 2009. The 2nd sort was the largest in both value and volume. and was expected to stay the market driver for growing in 2009–2014.

Digital tickers suffered from the consumer perceptual experience of being low cost and missing in manner. and therefore. the market for them had non yet picked up. The gross revenues figures by value for these sub-sectors for 2009 were INR 3. 000. 46. 000. and 6. 000 million. severally. The major market participants in these three sectors were HMT. Titan. and Casio. severally.

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The 2nd footing of categorization was benefit. and the market could be divided based on usage. viz. . insouciant. formal. and athleticss. Many of the trade names offered some options in all three sections. but most catered merely to the first two sections ; the athleticss section remained a mostly untapped section. About 35 % of all tickers retailed were insouciant. 60 % were formal. and a mere 5 % belonged to the athleticss section.

“ The Titan Story. ” hypertext transfer protocol: //www. titanworld. com/titan_stories. accessed on November 29. 2010. “ Watches in India. ” Country study. hypertext transfer protocol: //www. euromonitor. com/watches-in-india/report. accessed on July 22. 2011. 13

Ibid. 14Ibid. 12

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The ticker market could be classified into economic system. criterion. premium. and luxury sections. 15 The mass market ( i. e. . the economic system section ) accounted for about 67 % of volume and 50 % of value portions. and was catered to about wholly by the unorganised sector. Popular ( criterion ) . with monetary values runing from INR 500 to 1. 200. was the lowest scope offered by the organized sector ( Titan and Timex. chiefly ) .

The premium section consisted of tickers in the INR 1. 500–5. 000 scope. offered by about all the autochthonal and transnational trade names. The demand from the center and upper income groups promised to be the growing driver for this section in 2009–2014.

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A better account in footings of consumer behaviour was the 3rd footing of cleavage as defined by Yankelovich ( 1964 ) . 16 He presented a strategy for the non-demographic cleavage of assorted merchandise classs. including tickers. Cleavage by value was considered to be peculiarly disposed for this market. Therefore. the writers arrived at three distinguishable sections. each offering the client a different benefit and value than the others.

As was stated earlier. the ticker had ever been a merchandise that appealed to people. but the nature of the entreaty and the associations related to tickers changed with the altering environment. A ticker or a specific trade name in peculiar became a symbol of several associations that were in melody with the altering environment. These associations were by and large glamour. manner. athleticss. and merriment. and the strength of these associations became marked depending on the several section toward which a trade name was positioned.

Lifecycle phases besides mattered—a school pupil would observe his/her first ticker with neighbours and friends. a college pupil would earn attending among his/her friends with a late bought ticker. and an immature executive who had been successful in his occupation might honor himself with a premium ticker after a few old ages of difficult work. and besides “ announce his reaching into a universe of success” to the outside universe.

••

Value for money: Low/regular-priced tickers that were accurate and hardy. Owners tended to replace these when they failed. Premium tickers: Costly tickers. with assured length of service. first-class craft. and good styling. Owners were ready to pay a premium for the benefits that accompanied these trade names. Particular tickers: Excess benefits such as all right styling. trade name name. and accoutrements ( such as gilded shells ) were desired by possible clients. The ticker. apart from being a manner accoutrement. was portion of a ritual gifting ceremonial. and needed to encapsulate the emotional benefits required to win.

•

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Symbolic and lifestyle classs that were created in the last 20 old ages or so included dress. tickers. nomadic phones. portable music participants such as iPods. autos. telecastings. two-wheelers. and eyeglassess. to call a few socially conspicuous merchandise classs ; trade names made usage of such psychological demands of consumers to place themselves. with one class frequently viing with another.

For illustration. a typical in-between category family in India that had bought a Television ( it is a well-observed fact that a Television is by and large high on the purchase docket of a in-between category household ) on installment footing ( the installment program allows a consumer to pay for the purchased merchandise over a period of clip through monthly payments to the seller/retailer ) might prorogue purchasing a new ticker for a pupil in the household who was come ining college. owing to fiscal force per unit areas.

Such cases would be rare in a developed market. particularly with respect to the purchase of a ticker. It was interesting to observe that the lower terminal offerings ( comparatively lower terminal to be precise. when compared to the monetary value of luxury watch trade names ) from trade names such as Titan besides used glamor. love affair. and famous person orientation for the placement schemes of several of its trade names ( such as Titan. Fastrack. Sonata. and Ragaa ) . Titan was a leader in the organized vitreous silica parallel ticker section. and 1000000s of pieces had been sold over the old ages.

It was interesting to observe that regardless of the monetary value scope or the benefit. tickers held a symbolic entreaty in the Indian context—an entreaty that could be associated with the self-perception or the personality/style a consumer would wish to project to the outside universe. Luxury tickers had a particular entreaty with respect to such an orientation among consumers.

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The ticker market in India was divided into three wide sections: mass market( monetary value below INR 1. 000 ) . midmarket ( monetary value between INR 1. 000 and INR 10. 000 ) . and premium market ( monetary value get downing at INR 10. 000 ) . Luxury tickers in bend. were categorized into three sub-segments:

1516

Ibid. Yankelovich. D. . “ New Criteria for Market Segmentation. ” Harvard Business Review. March/April 1964.

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Premium tickers: INR 10. 000–50. 000. This was the infinite where Xylys operated. The other outstanding trade names in this infinite were Tissot. Seiko. and Citizen. in add-on to manner trade names such as Emporio Armani and Hugo Boss.

Accessible Luxury: INR 50. 000–3. 00. 000. The biggest Swiss trade names such as Rolex. Omega. Longines. and Tag Heuer operated in this infinite. Exclusive Luxury: INR 3. 00. 000 and supra. Very high-end trade names such as Breguet. Patek Philippe. Audemars Piguet. Breitling. and Hublot populated this section.

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From the point of position of expression. there were four doctrines from which trade names tended to take and busy. viz. . frock. classical. manner. and athletics. For illustration. among clean tickers. Tissot. Tag Heuer. and Breitling were the trade names in the premium. accessible. and sole luxury sub-segments. severally.

LUXURY BRANDS

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The market for luxury tickers was estimated to be 3 % of ticker retail. and was turning at about 20 % yearly. which was more than twice the growing rate of the full market. 17 Luxury trade names were priced above INR 15. 000. and chiefly included imported trade names offered by transnational participants. such as Omega. Rado. Longines. Tag Heuer. and Tissot. Titan was the lone Indian trade name in this sector presently. with Xylys at the luxury terminal of its portfolio. Personal interviews with some directors at retail mercantile establishments suggested that the competition to the Xylys trade name was from established trade names such as Seiko and Tissot. 18

The chief consumer of luxury trade names was the new coevals executive. who was set to travel toward the prime of his/her calling. and who had a acute sense of trade name consciousness. These included an increasing figure of immature and middle-aged professionals in the upper strata of direction in corporate houses. and besides Indians who belonged to the higher socio-economic strata and had a preference for luxury merchandises. The major consumers of tickers in the luxury section included CEOs and senior professionals in their mid-thirtiess and mid-fortiess. new coevals enterprisers. and immature working professionals.

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Successful trade names sold because they positioned themselves based on the benefits they offered to those who possessed them ; such benefits could be functional. symbolic. or experiential. 19 Brand concept direction 20 stated that for long-run success. the trade name image needed to be based on a brand-specific abstract construct. The writers felt that such an orientation would assist the long-run programs of luxury ticker trade names.

Functional trade names provided touchable and practical benefits. and satisfied the existent demand for the merchandise. Trade names needed to needfully fulfill functional demands. since these were the hygiene factors for credence in this class. Symbolic brands. on the other manus. catered to the consumers’ penchant for trade names that matched their ain “ selfconcept” 21 and their symbolic demands for self-expression. prestigiousness. and the sweetening of self-image and sense of belonging. Experiential trade names satisfied the owner’s need to see centripetal pleasance. assortment. or cognitive simulation.

Luxury tickers were bought for their symbolic and experiential benefits as opposed to their functional 1s. The merchandising points were the position and edification that the trade name denoted when worn by the proprietor ; although aesthetic entreaty and lastingness were of import. preciseness and monetary value were non.

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Hence. the placement diagrams for luxury tickers would necessitate to be based on factors such as position. prestigiousness. and ego satisfaction. The methodological analysis was derived from earlier surveies on the placement of trade names. 22 Three sets of questionnaires were used to enter the respondents’ sentiments on trade names. adjectives and phrases related to trade name symbolism. and more indepth questions sing the features of trade names and their users. 17

“ Watch industry in India to turn at 9 % . ” India Infoline News Service. February 5. 2010. Interviews with Viraj. Branch Manager. World of Titan at Brigade Road. Bangalore and Saumya. Branch In-charge. Titan ( multi-brand mercantile establishment ) mercantile establishment at Jayanagar 4th Block. Bangalore.

19Park. C. W. . Jaworski. B. J. . & A ; MacInnis. D. J. . “ Strategic Brand Concept Image Management. ” Journal of Marketing. Vol. 50. October 1986. pp. 135–145. 20Ibid. 21Malhotra N. K. . “ Self Concept and Product Choice: An Integrated Perspective. ” Journal of Economic Psychology. Vol. 9. 1988. pp. 1–28. 22Bhat. S. . & A ; Reddy. S. K. . “ Symbolic and Functional Positioning of Brands. ” Journal of Consumer Marketing. Vol. 15. No. 1. 1998. pp. 32–43. 18

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Methodology

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The aim of the survey was to analyse and associate several facets of consumer behaviour. and to compare users and non-users of premium tickers. Three sets of inquiries were prepared. One set of inquiries dealt with the selfconcepts of consumers. another was about the trade name personality facets of their tickers. and the last set of inquiries was related to the psychographics of single respondents. Non-users were respondents who were possible purchasers of premium tickers in the close hereafter. Scales were drawn from several resources available in the extant literature. 23

Forty current users of premium tickers and 40 potency users ( prospective purchasers ) of premium tickers were administered the questionnaire in April. 2011 in Bangalore. India.

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Exhibits 1. 2. and 3 were associated with self-concept. trade name penchants along with personality traits. and the activities. involvements. and sentiments ( AIO ) of possible users of premium ticker trade names. Exhibits 4. 5. and 6 dealt with the same factors of the present users of premium ticker trade names ( self-concept. trade name penchants along with personality traits. and AIO ) .

The description of the positioning schemes of the assorted trade names presented below is based on the authors’ perceptual experience of the advertizements of the several trade names.

XYLYS

Xylys was a premium Swiss-made ticker trade name from the house of Titan in India. Priced between INR 10. 000 and INR 33. 000. the Xylys scope of tickers was available in three collections—Contemporary. Authoritative. and Sport—and offered over 60 typical theoretical accounts. Xylys was available at choice World of Titan salesrooms. cardinal multi-brand mercantile establishments. and at sole flagship dress shops in choice metropoliss.

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Xylys targeted the lower spectrum of the luxury ticker section. Titan. which was the market leader in the mid-price section in India. felt that the upper terminal of their mark clients was traveling towards iconic planetary premiumtrade names.

The designs were created in coaction with celebrated Swiss interior decorator Laurent Rufenacht. and Titan’s ain design adviser. Michael Foley. It was manufactured in a state-of-the-art mill in Switzerland. which had a heritage of over 80 old ages in the art of watch-making. All Xylys tickers were created with keen workmanship and faultless particularization. were fastidiously made from carefully selected stuffs. and were crafted with a passion for item.

While carefully analysing the consumer behaviour of clients of premium ticker trade names. Titan found that consumers were extremely influenced by the “ country of origin” association. Consumers loved the “ Swiss-made” ticket. and there was a immense association of quality. preciseness. premium. etc. with this ticket. The penetration was that it would be hard for an “ Indian-made” ticket to affect the mark section.

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The name Xylys was designed to hold merely two syllables. a typical name in itself. The trade name charter aimed to convey manner. attitude. and power. Xylys was created for new coevals winners who went beyond the obvious. Xylys reflected their values. attitudes. and alone personal individualities. The trade name was targeted at today’s people. both work forces and adult females. who were supremely confident and witting of the image they projected.

These persons actively sought new and unconventional experiences. Xylys. with its alone placement of the “ Power of X. ” underlined the power of one’s attitude. This attitude stemmed from a person’s self-belief. which enabled one to accomplish success through a passionate chase of one’s dreams. Xylys was launched as a modern-day trade name aiming upwards nomadic. successful work forces and adult females. The trade name segmented the market based on psychographic profiles. 23

Tian. K. T. . Bearden. W. O. . & A ; Hunter. G. L. . “ Consumers’ Need forSingularity: Scale Development and Validation. ” Journal of Consumer Research. June 28. 2001. pp. 50–66 ; Netemeyer R. G. . Burton. S. . & A ; Lichtenstein. D. R. . “ Trait facets of Amour propre: Measurement and Relevance to Consumer Behavior. ” Journal of Consumer Research. 21. March 1995 ; Schiffman. L. G. . Kanuk. L. L. . & A ; Ramesh Kumar. S. . Consumer Behavior. 10th Ed. Pearson Education. p. 143.

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Xylys defined its clients as modern-day. dynamic. successful people who had attitude and assurance. The trade name wanted to observe their success with them. The clients of Xylys were extremely individualistic individuals who did what they loved. These people would love to show themselves and demo their success to the universe.

The three trade name embassadors of Xylys came from varied Fieldss and represented the attitude of the new coevals winners. Actor Rahul Bose ( ad ) . international supermodel Saira Mohan ( ad ) . and tennis star Carlos Moya embodied the attitude of populating life dauntlessly on their ain footings. with a passion to prosecute their dreams.

Talking at the launch. trade name embassador Rahul Bose said. “ Like every film I choose to be a portion of. I have chosen to back this trade name after careful idea. I can merely back up those merchandises that I am to the full convinced about. It is an exciting new trade name from India’s taking horologist with an individuality that reflects the attitude and values that I consider important—bold. unconventional. and typical. ”

In 2010. the trade name changed its placement from “ Symbol of Success” to “ Feeling of Love. ” The trade name talked about falling in love with Xylys. Xylys ran a run reflecting the new placement. which was a important divergence from the nucleus placement of the trade name. The full trade name personality of Xylys was changed in the current run.

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The new individuality reflected the attitude. life style. and personality of the new coevals consumer. “ You don’t possess a Xylys. it possesses you” : this reflected irrational desirableness of the trade name. The new originative look was carefully designed to reflect the consequence Xylys tickers had on their consumers. It was this facet that created an “ irrational” desire to have the ticker. strongly backed by the “ rational” grounds. viz. . that Xylys came from the house of Titan and was Swiss-made.

After the launch in 2006. the trade name saw the volume of gross revenues duplicating between 2006–2007 and 2007–2008. and gross revenues grew at about 33 % since so. In footings of value. Xylys grew at a compound one-year growing rate ) of 54 % . Exhibit 7 shows an Xylys’ advertizement.

TISSOT

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Tissot. with its signature “ Innovators by Tradition. ” pioneered workmanship and invention since its foundation in 1853. Tissot was a member of the Swatch Group. the world’s largest ticker manufacturer and distributer. For over 155 old ages. the company had its place in the Swiss watch-making town of Le Locle in the Jura Mountains. and in 2011 had a presence in over 150 states.

As official timer and spouse of the International BasketballFederation. the Australian Football League. the Chinese Basketball Association. and MotoGP. and the World Championships of cycling. fence. and ice hockey ; Tissot was committed to esteeming tradition. underscoring its nucleus values of public presentation. preciseness. and puting new criterions.

The different aggregations of Tissot included Touch. Sport. Trend. Classic. Gold. Pocket. and Heritage ; and the monetary value spectrum was much wider than that of Xylys. covering both the low-cost luxury and the premium luxury section with easiness.

The Indian trade name embassador for Tissot was film star Deepika Padukone. girl of a former badminton universe title-holder. Her Tissot ticker was projected as a symbol of luxury and glamor complementing her multi-faceted life style. The similarities between her personality and the Tissot trade name were captured in the brand’s advertizements: “ We are both adventuresome. sophisticated and posh. yet really accessible. ”

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Tissot’s subsequent advertisement run revolved around the subject “ In Touch with Your Time. ” In its radical new planetary run based on this subject. Tissot used a series of executings having trade name embassadors who presented luxury as being accessible instead than sole. The trade name attributed its success to the trust clients all over the universe had in the quality and pleasance offered by Tissot timekeepers.

Millions of wearers obviously refused to compromise. and the run specifically congratulated them on their discerning choice of a fashionable Swiss-made ticker. The campaign’s attack focused on the thought of “ substance” ( the unquestionable quality attached to traditional Swiss workmanship ) and “ style” ( a genuinely appealing ticker design ) .

This papers is authorized for usage merely by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or poster is anviolation of right of first publication. [ electronic mail protected ] or 617. 783. 7860.

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The new planetary Tissot run captured existent minutes in the lives of its embassadors where world seamlessly merged with glamor. A assortment of locations that were local to the embassadors ( e. g. . Deepika Padukone in Mumbai. India ) were used for the shoots. which enhanced the campaign’s built-in genuineness.

SEIKO

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SEIKO Watch India Private Limited is a 100 % subordinate of SEIKO Watch Corporation. Japan set up in 2007 ; it is headquartered in Bangalore. Over the old ages. SEIKO has established its leading place in a figure of states. Backed by such experiences and with India being one of the prioritized markets. the trade name is expected to convey its “ total SEIKO trade name experience” through its “ flagship stores” that will besides supply good client service.

24 The trade name is available at several higher-end multi-branded ticker mercantile establishments in the state. SEIKO’s technological development is focused on the creative activity of “ emotional technologies” 25. While the trade name may be positioned below Tissot or Xylys ( based on the observation of monetary value points at retail mercantile establishments by one of the writers ) . the trade name is likely to be perceived as a trade name with strong value given its heritage of engineering and invention.

2425

hypertext transfer protocol: //www. seiko. in/corporate/india. hypertext markup language accessed on October 26. 2011 hypertext transfer protocol: //www. seikowatches. com/story/index. hypertext markup language accessed on October 26. 2011

Exhibit 1

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XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Self-concept ( Potential users of premium ticker trade names )I would experience abashed if I was around people and did non look my best.

3. 775

It is of import that I ever look good.

3. 275

Peoples notice how attractive I am.

3. 675

My expressions are really appealing to others. I want others to look up to me because of my achievements.

3. 0753. 0754. 15

Achieving greater success than my equals is of import to me.

3. 475

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I am more concerned about professional success than most people I know.

3. 575

In a professional sense. I am a really successful individual.

3. 825

My accomplishments are extremely regarded by others.

3. 4

Others wish they were every bit successful as me.

3. 675

I am a good illustration of professional success.

3. 25

I frequently look for alone merchandises or trade names so that I create a manner that is all my ain.

3. 225

The merchandises and trade names that I like best are the 1s that express my individualism.

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I want my accomplishments to be recognized by others.

3. 375

I enjoy disputing the predominating gustatory sensation of people I know by purchasing something extremist.

2. 95

I frequently think of the things I buy and do in footings of how I can utilize them to determine a more unusual personal image.

3. 05

I seldom act harmonizing to what others think are the right things to purchase.

When a merchandise I ain becomes popular among the general population. I use it less.

2. 625

Concern for being out of topographic point does non forestall me from have oning what I want to.

2. 85

Beginning: The consequences were based on the questionnaires administered to users and non-users of premium ticker trade names.

Make

Note: The statements were measured on a Likert graduated table runing from Strongly Agree to Strongly Disagree for each respondent. and the values were coded as Strongly Agree = 5. Agree = 4. Neither Agree nor Disagree = 3. Disagree = 2. and Strongly Disagree = 1. The average values were the norm of the same across all the respondents.

Exhibit 2

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XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Brand and user personality ( Potential users of premium ticker trade names )

Brand Factors

User Factors3. 525

Up-to-date

3. 525

Reliable

4. 075

Reliable

4. 125

Down-to-earth

3. 65

Down-to-earth

Honest

3. 8

Honest

3. 85

Make bolding

3. 125

Make bolding

Spirited

3. 775

Exciting

3. 625

Imaginative

3. 7

Successful

3. 825

Upper category

3. 325

Tough

3. 2

opyo

Up-to-date

3. 8

3. 675

Exciting

4. 05

Imaginative

3. 975

Successful

3. 625

Upper category

3. 5

Tough

3. 5

technetium

Spirited

Beginning: The consequences were based on questionnaires administered to users and non-users of premium ticker trade names.

Make

Note: The statements were measured on a Likert graduated table runing from Strongly Agree ( 5 ) to Strongly Disagree ( 1 ) for each respondent. The average values were the norm of the same across all the respondents.

XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Page 11 of 15

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Exhibit 3Activities. involvements. and sentiments ( Potential users of premium ticker trade names ) When I must take between the two. I normally dress for manner. non for comfort.

3. 25

I try to set up my place for my children’s convenience.

2. 975

I take a batch of clip and attempt to learn my kids good wonts. I like parties where there is tonss of music and conversation. I would instead travel to a featuring event than a film. I like to work on community undertakings.

2. 85

3. 0753. 4253. 43. 7

I think I have more self-confidence than most people.

2. 55

I am more independent than most people.

3. 725

I think I have a batch of personal ability.

3. 8

I like to be considered a leader.

3. 95

opyo

I have personally worked in a political run. or for a campaigner. or for an issue.

3. 7

I sometimes act upon what my friends bargain.

3. 85

Peoples come to me more frequently than I go to them for information about trade names.

3. 5

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My friends or neighbours frequently come to me for advice.

3. 25

I spend a batch of clip speaking with my friends about merchandises and trade names.

3. 575

I would wish to pass a twelvemonth in London or Paris.

3. 175

I would wish to take a trip around the universe.

3. 825

I will hold more money to pass following twelvemonth than I have now.

4. 375

I spend more than an hr mundane reading the newspaper or watching the intelligence.

4. 025

I like to meticulously be after for future nest eggs and outgos.

3. 175

I frequently seek out the advice of my friends sing which trade name to purchase.

Make

Beginning: The consequences were based on questionnaires administered to users and non-users of premium ticker trade names. Note: The statements were measured on a Likert graduated table runing from Strongly Agree ( 5 ) to Strongly Disagree ( 1 ) for each respondent. The average values were the norm of the same across all the respondents.

Exhibit 4

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XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Self-concept ( Present users of premium ticker trade names )I would experience abashed if I was around people and did non look my best. It is of import that I ever look good. Peoples notice how attractive I am.

3. 325

3. 753. 45

My expressions are really appealing to others. I want others to look up to me because of my achievements.

I am more concerned about professional success than most people I know.

opyo

Achieving greater success than my equals is of import to me. I want my accomplishments to be recognized by others.

In a professional sense. I am a really successful individual.

3. 425

3. 653. 75

3. 9254. 225

3. 65

My accomplishments are extremely regarded by others.

3. 6

Others wish they were every bit successful as me.

3. 4

I am a good illustration of professional success.

3. 73. 225

The merchandises and trade names that I like best are the 1s that express my individualism.

3. 325

technetium

I frequently look for alone merchandises or trade names so that I create a manner that is all my ain.

I seldom act harmonizing to what others think are the right things to purchase.

2. 752. 925

I frequently think of the things I buy and do in footings of how I can utilize them to determine a more unusual personal image.

I enjoy disputing the predominating gustatory sensation of people I know by purchasing something extremist.

When a merchandise I ain becomes popular among the general population. I use it less. Concern for being out of topographic point does non forestall me from have oning what I want to.

2. 8253. 2

Beginning: The consequences were based on questionnaires administered to users and non-users of premium ticker trade names.

Make

Exhibit 5

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XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Brand and user personality ( Present users of premium ticker trade names ) Brand Factors

User Factors

Up-to-date

3. 775

Up-to-date

Reliable

4. 275

Reliable

3. 84. 025

3. 35

Down-to-earth

Honest

3. 95

Honest

3. 925

Make bolding

3. 6

Make bolding

3. 675

Spirited

3. 75

Exciting

3. 95

Imaginative

3. 925

Successful

4. 125

Upper category

3. 975

Tough

3. 975

3. 65

opyo

Down-to-earth

Spirited

3. 875

Exciting

3. 9

Imaginative

3. 6

Successful

Upper categoryTough

3. 725

3. 7

3. 625

technetium

Beginning: The consequences were based on questionnaires administered to users and non-users of premium ticker trade names.

Make

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XYLYS: Exploring Consumer Perception about Premium Watches in the IndianContext

Exhibit 6Attitudes. involvements. and sentiments ( Present users of premium ticker trade names ) When I must take between the two. I normally dress for manner. non for comfort.

2. 775

I try to set up my place for my children’s convenience.

3. 725

I take a batch of clip and attempt to learn my kids good wonts. I like parties where there is tonss of music and conversation. I would instead travel to a featuring event than a film.

opyo

I like to work on community undertakings.

3. 95

3. 0753. 2253. 325

I have personally worked in a political run. or for a campaigner. or for an issue.

1. 725

I think I have more self-confidence than most people.

3. 625

I am more independent than most people.

3. 975

I think I have a batch of personal ability.

3. 775

I like to be considered a leader.

4. 125

My friends or neighbours frequently come to me for advice.

technetium

I sometimes act upon what my friends bargain.

Peoples come to me more frequently than I go to them for information about trade names.

3. 753. 3253. 32. 95

I spend a batch of clip speaking with my friends about merchandises and trade names.

2. 875

I would wish to pass a twelvemonth in London or Paris.

3. 175

I frequently seek out the advice of my friends sing which trade name to purchase.

I would wish to take a trip around the universe. I will hold more money to pass following twelvemonth than I have now.

4. 23. 9253. 75

I like to meticulously be after for future nest eggs and outgos.

3. 65

Make

I spend more than an hr mundane reading the newspaper or watching the intelligence.

Beginning: The consequences were based on questionnaires administered to users and non-users of premium ticker trade names.

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XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context

Exhibit 7

Make

technetium

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Ad for Xylys

The writers would wish to thank Mr. Manoj Chakravarti. Senior Advisor. Ms. Superna Mitra. Head. Global Marketing. Titan Industries Limited and Prof. Dinesh Kumar. Chairperson. Research & A ; Publications. IIM. Bangalore for the support provided to this instance survey enterprise.