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XYLYS Exploring consumer perception about watches in the Indian context

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

Group : 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 s

Present s

Ambitious : I am more concerned about professional success than most people I know(4.15)

Noticeable: I want my achievement to be recognized by others(4.225)

Ego: In a professional sense I am a very successful person(3.825)

Ego: Achieving greater success than my peers is important to me(3.925)

Conscious: I would feel embarrassed if I was around people and did not look my best(3.775)

Conscious It is important that I look good(3.75)

Noticeable: People notice how attractive I am(3.675)

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

ANALYSIS OF EXHIBIT 2,5(BRAND AND PERSONALITY) Potential s s Factors(Important)

Brand Factors(Important)

Reliable(4.125)

Reliable(4.075)

Down-to-earth(4)

Successful(3.825)

Imaginative(3.975)

Honest(3.8)

Present s s Factors(Important)

Brand Factors(Important)

Reliable(4.275)

Reliable(4.025)

Successful(4.125)

Honest(3.925)

Upper Class(3.975)

Exciting(3.9)

Tough(3.975)

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

Present s

Confident : I will have more money to spend next year than I have now

Ego : I like to be considered a leader(4.125)

Up-to-date: I spend more than an hour everyday reading newspaper or watching the news(4.025)

Individualistic: I am more independent than most people

Ego: I like to be considered a leader(3.95)

Sophisticated: I take a lot of time and effort to teach my children good habits(3.95)

Influential: I sometimes influence what my friends buy(3.85)

Confident: I will have more money to spend next year than I have now(3.925)

PERCEPTUAL MAPPING( WATCHES) High Value(Innovation, Technology) Sieko Tissot Xylys

Higher Price

Lower Price

Low Value(Innovation, Technology)

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

Price

• 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

Benefit

Technology

CATEGORIZATION OF WATCHES IN INDIA

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

• 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

Exclusive Luxury

• Price between Rs. 10,000 and Rs. 50,000

Accessible Luxury



CATEGORIZATION OF LUXURY WATCHES IN INDIA

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

YANKELOVICH’S 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

YANKELOVICH’S DEFINITION OF SEGMENTATION BY VALUE Appeal & Associations

Look

Consumer needs

Glamour

Dress

Psychological needs to position themselves

Fashion

Classical

Value for money

Benefits

Functional benefits

Symbolic benefits

Sports

Fun

Fashion

Self-perception

Sport

Personality and style

Experiential benefits

MAIN CONSUMER FOR A 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 

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

Glamour

Dress

Psychological needs to position themselves

Fashion

Classical

Value for money

Benefits

Functional benefits

Symbolic benefits

Sports

Fun

Fashion

Self-perception

Sport

Personality and style

Experiential benefits

XYLYS – THE BRAND 

The Swiss-made tag is associated with  Quality  Precision 



Positioned as a “Symbol of success”



Target Segment- Upwardly successful people



Depicted the “Power of X”  bold, unconventional, distinctive and underlined one’s 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!