2. INTRODUCTION Timex Industries is one of the India’s leading manufacturers of watches. The company was incorporated in July 1985 at Madras. In 1988 the company set up a manufacturing unit at Ahmadabad. Company manufactures over 5 million watches per annum.
3. Why ??? Strong brand name. Excellent reputation Loyal customers. Value for money.
4. STRENGTH Timex is currently India's largest-selling watch brand. Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders. Customer satisfaction and Quality Assurance Customer value and offered after sales service in a showroom environment. Proper differentiation from other.
5. WEAKNESS It has lots of product in watch. Above which don’t create brand equity to a particular brand. Current surveys reveal more focus on expansion than quality Can’t utilize properly the resources (domestic parts suppliers). Distribution channel.
6. OPPORTUNITY Growth of Indian watch market is very fast & huge opportunity in organized watch market. Nearly 34 million watches are sold through market . The second-largest branded player in the Indian watch market , with a market share of around 7% & HMT remained into losses for last 6 years. Arrival of new technologies. Increase in demand. Rapidly expanding market.
7. THREATS Premium international watch brands such as Swatch, Esprit, Tissot, Citizen, and Omega entered in India. Now that the Indian market is widely open to importations, it will be extremely difficult for the Indian players to maintain a sustainable growth. Too many players will dilute the market & the profit margin Mobile phones acting as substitutes of the watches. Competitors rising quickly Customer satisfaction level below competitors
8. SUGGESTIONS Be first in market Establish the brand as quickly as possible Advertising heavily Advertisements based on local themes and reflect different environment. Create more awareness about the product