XYLYS

Exploring consumer perception about premium watches in the Indian context

Submitted by Group 1, PGPM 2012-14 MDI, Gurgaon

Group members: Aditya Kagliwal-12P001 Saurabh Mishra-12P044 Nitish Gupta-12P088 Gaurav Gaba-12P136 Rajesh Chaudhary-12P158 Ravi Goel-12P161

ANALYSIS OF EXHIBIT 1,4(SELF CONCEPT) CONSUMER BEHAVIOR PROFILE

Potential Users Ambitious : I am more concerned about professional success than most people I know(4.15) Ego: In a professional sense I am a very successful person(3.825) Conscious: I would feel embarrassed if I was around people and did not look my best(3.775) Noticeable: People notice how attractive I am(3.675) Present Users Noticeable: I want my achievement to be recognized by others(4.225) Ego: Achieving greater success than my peers is important to me(3.925) Conscious It is important that I look good(3.75)

Successful: I want others to look up to me because of my accomplishments(3.65)

ANALYSIS OF EXHIBIT 2,5(BRAND AND USER PERSONALITY)

Potential Users Users Factors(Important) Reliable(4.125) Down-to-earth(4) Imaginative(3.975) Present Users Users Factors(Important) Reliable(4.275) Brand Factors(Important) Reliable(4.025) Brand Factors(Important) Reliable(4.075) Successful(3.825) Honest(3.8)

Successful(4.125) Upper Class(3.975)

Tough(3.975)

Honest(3.925) Exciting(3.9)

ANALYSIS OF EXHIBIT 3,6(ATTITUDES, INTEREST AND OPINIONS) CONSUMER BEHAVIOR PROFILE

Potential Users Confident : I will have more money to spend next year than I have now Up-to-date: I spend more than an hour everyday reading newspaper or watching the news(4.025) Ego: I like to be considered a leader(3.95) Influential: I sometimes influence what my friends buy(3.85) Present Users Ego : I like to be considered a leader(4.125) Individualistic: I am more independent than most people Sophisticated: I take a lot of time and effort to teach my children good habits(3.95) Confident: I will have more money to spend next year than I have now(3.925)

PERCEPTUAL MAPPING(PREMIUM WATCHES)

High Value(Innovation, Technology) Sieko Tissot Xylys

Higher Price

Lower Price

Low Value(Innovation, Technology)

CATEGORIZATION OF WATCHES IN INDIA

Non-contemporary bulky mechanical watches with less than 5% market share Stylish light Quartz Analog watches being the main market driver Quartz digital watches that are perceived as low cost & unstylish

Casual (35% Market Share) Formal (60% Market Share) Sports (5% Market Share)

Mass Market (Price below Rs. 1000) Mid Market (between Rs. 1000 and Rs. 10,000) Premium Luxury Market (Price above Rs. 10,000)

Technology

Benefit

Price

CATEGORIZATION OF LUXURY WATCHES IN INDIA

Premium

Accessible Luxury

Exclusive Luxury

Price between Rs. 10,000 and Rs. 50,000 XYLYS, Tissot, Seiko, Citizen, Emporio Armani and Hugo Boss

Price between Rs. 50,000 and Rs. 3,00,000 Rolex, Omega, Longines and Tag Heuer operate

Price above Rs. 3,00,000 Breguet, Patek Philippe, Audemars Piguet, Breitling and Hublot

YANKELOVICHS DEFINITION OF SEGMENTATION BY VALUE

In a product, people look for nature of appeal & associations like Glamour, Fashion, sports and Fun Four philosophies namely dress, classical, fashion & sport Factors governing consumer needs: Psychological needs to position themselves Value for money Self-perception Personality and style Consumers look for Brands that offer benefits akin to: Functional benefits Symbolic benefits Experiential benefits like sensory pleasure, variety or cognitive simulation. Preferences also influenced by Lifecycle stages

YANKELOVICHS DEFINITION OF SEGMENTATION BY VALUE

Appeal & Associations
Look

Consumer needs
Psychological needs to position themselves

Benefits

Glamour

Dress

Functional benefits

Fashion

Classical

Value for money Symbolic benefits

Sports

Fashion

Self-perception

Fun

Sport

Personality and style

Experiential benefits

MAIN CONSUMER FOR A PREMIUM LUXURY

WATCH

A new generation executive: Who is set to move toward prime of his career Who after a few years of hard-work is ready to announce his arrival in the world of success Who wants to display his status by associating himself with value brands & is very brand conscious

Target Consumers: CEOs, senior professionals, entrepreneurs, people belonging to higher socio-economic strata These individuals constantly seek new and un-conventional experiences Look for symbolic & experiential benefits rather than just functional benefits

XYLYS THE PRODUCT

Premium Luxury watch priced between Rs.10,000/- and Rs. 33,000/Made in Switzerland Designed by renowned Swiss designer Laurent Rufenacht, along with Titan's adviser Michael Foley Around 60 models under three collections namely Contemporary, Classic & Sport

Exquisite craftsmanship & impeccable detailing in a state-of-art factory that has 80 year heritage of watch making

POSITIONING OF XYLYX

Appeal & Associations

Look

Consumer Needs
Psychological needs to position themselves

Benefits

Glamour

Dress

Functional benefits

Fashion

Classical

Value for money Symbolic benefits

Sports

Fashion

Self-perception

Fun

Sport

Personality and style

Experiential benefits

XYLYS THE BRAND

The Swiss-made tag is associated with Quality Precision Premium Positioned as a Symbol of success Target Segment- Upwardly successful people Depicted the Power of X bold, unconventional, distinctive and underlined ones power of attitude and confidence

THE RESULTS

All this care to consumer needs & diligence shown during the

production choices for XYLYS watches and bang-on-target Brand

position, resulted in doubling of sales volumes in the initial years

It developed into a consistent growth rate of 33% since then XYLYS has a consistent brand share of around 21% in the Indian market even today

THANK YOU!