HMT was formerly a market leader in the watch manufacturing industry in India, holding a 55.2% market share in 1990-1991. It is the only company in India that manufactures mechanical automatic watches domestically. The watch industry in India is expected to grow at a CAGR of 23.3% from 2014-2018 according to a study. HMT has the capability to produce high quality watches at economical prices due to its precision engineering expertise.
Unraveling the Mystery of The Circleville Letters.pptx
Phoenix_Welingkar Institute Of Management,Mumbai_Smiling Assassins
1.
2. Competency
Cost
Scope
Legacy
Legacy
§ HMT
was
an
erstwhile
market
leader
in
the
watch
manufacturing
industry.
§ It
had
the
market
share
of
around
55.2%
in
watch
industry(1990-‐1991).
Competency
§ Only
company
in
India
t h a t
m a n u f a c t u r e s
mechanical
automaHc
watches.
§ Foreign
made
mechanical
watches
are
imported
to
India
at
high
costs.
Scope
§ According
to
a
study
by
Ken
Research
ConsulHng,
the
Watch
industry
in
India
is
expected
to
rise
at
CAGR
rate
of
23.3
%
in
the
period
FY’2014-‐FY’2018.
Cost
• The
high
precision
engineering
involved
in
Mechanical
watches
drives
manufacturing
costs.
HMT
has
the
capability
to
produce
high
quality
watches
at
economical
prices.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
3.
HMT
Watch
Business
group
was
re-‐structured
as
HMT
Watches
Limited
(a
Wholly
Owned
Subsidiary
of
HMT
Limited)..
Two
watch
factories
were
set
up
in
B a n g a l o r e
a n d
S r i n a g a r
w h i c h
s t a r t e d
m a k i n g
components.
HMT
Watches
started
making
Floral
Clocks,
Solar
Clocks,
InternaGonal
Clocks,
Master-‐Slave
clocks
and
Tower
Clocks.
The
manufacture
of
wrist
watches
started
in
the
year
1962,
under
Technical
collaboraGon
with
CITIZEN
Watch
Company
of
Japan.
1962
1972-‐75
1985
2000
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
4. Design
Studio
§ To
introduce
contemporary
and
trendy
design
as
most
HMT
watches
sHll
has
a
1950’s
look
and
feel.
§ An
engraving
of
“Made
in
India”
on
watches
to
introduce
a
sense
of
Indian
culture
and
pride
in
the
watches.
Product
Line(Brand
PosiGoning)
§ Introduce
new
lines
to
a_ract
different
niche
segments
of
customers.
§ New
segments
like
ü Professional-‐
Divers,
Aviators,Racers
ü Nostalgia-‐Sangam,
Utsav
Sona
ü Jwellery
ü Designer
ü Special
EdiHon-‐
Indianess
Revamp
DistribuGon
Network
§ Introduce
“HMT
Age”
a
retail
and
servicing
arm
of
HMT
to
sell
its
watches
in
malls,markets.
§
Tie
up
with
retail
shops
to
display
HMT
watches
in
china
cabinets.
§ Increase
the
conservaHve
margin
of
2%
currently
offered
to
retailers
Explore
UnconvenGonal
Avenues
§ Set
up
duty
free
shops
in
airports
with
special
ediHon
watches
e.g
watches
engraved
with
the
Taj
Mahal
to
a_ract
tourists.
§ Offer
free
watches
and
other
goodies
to
consumers
who
convince
their
retailers
to
stock
HMT
watches.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
5. Avoid
Piracy
§ Every
HMT
watch
will
have
an
unique
serial
number
engraved
on
it
and
will
come
with
an
cerficate
of
authencity
to
prevent
customers
gehng
cheated
with
knock
offs.
HMT
Club
§ A
membership
club
which
every
consumer
is
by
default
placed
on
purchase.
§ Perks
include
free
maintainence
,
cleaning
,polishing
,discounts
on
birthdays
and
other
important
days.
§ Premium
customers
will
be
given
faciliHes
like
pick
up
and
delivery,
credit
extension.
Consumer
Engagement
§ Conduct
compeHHons
and
invite
winners
to
show
them
the
process
of
manufacturing
watches.
§ Consumers
will
be
intrigued
by
the
careful
assembling
of
gears
and
other
components
like
main
spring,hair
spring
and
shock
absorber.
Go
Digital
§ Plan
an
extensive
digital
campaign
and
He
up
with
ecommerce
websites
to
stock
HMT
watches.
§ AcHvely
indulge
in
cosnumer
forums
like
watchuseek
to
efficiently
deal
with
consumer
needs.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
6. HMT
INSTITUTE
OF
HOROLOGY
• 1st
insHtute
of
Horology
in
India.
• Online
and
correspondence
courses
for
watch
enthusiasts’.
• Free
training
for
underprivileged
students.
• Will
increase
the
brand
value
of
HMT
and
increase
interest
in
watches
in
India.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
7. Indian
Army
§ The
Indian
armed
forces
are
synonymus
to
discipline
and
punctuality.
§
HMT
can
promote
its
brand
by
being
a
promoHon
gij
or
a
graduaHon
gijs
for
army
officers.
Indigo(HMT
Indigo
Standard
Time)
§ 96%
of
Indigo
flights
are
on
Hme.
§ HMT
can
He-‐in
with
Indigo
to
brand
its
annouced
Hme
as
HMT
indigo
Standard
Hme.
§ It
can
offer
premium
range
of
watches
in
Indigo’s
Hello
6E
inflight
magazine.
§ It
can
target
premium
high
earning
customers.
Watches
in
StaGons
§ HMT
can
adverHse
the
watches
in
railway
plamorms
across
India.
§ By
doing
so,it
can
promote
its
products
to
the
farthest
corners
of
India
and
also
reach
out
to
millions
of
consumers
across
India.
Novelty
Watch
AXracGon
§ HMT
maintains
the
clock
towers,
floral
clocks
,solar
clocks
across
India.
§ It
can
promote
its
products
by
adverHsing
in
popular
tourist
a_racHon
like
the
Bangalore
garden
clock.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
8. Time
keepers
of
Test
Cricket
§ Sessions
in
test
cricket
are
Hmed
according
to
the
tower
clock
in
the
stadium.
§ HMT
can
sponsor
such
clocks
across
different
stadiums
in
India
and
reach
out
to
fans
across
India.
Event
PromoGons
§ Brand
can
promote
specific
Product
lines
by
parHcipaHng
in
related
events.
Eg:
Car
Racing
Rallies,
Swimming/Diving
compeHHons,
etc.
§ HMT
can
sponsor
F1
racing
,
NASCAR
and
internaHonal
events
to
promote
its
racing
line.
Celebrate
Indianness
§ Offer
lucraHve
discounts
on
naHonal
holidays
like
Republic
Day.
§ Special
ediHon
watches
which
depicts
Indian
culture
and
tradiHon.
§ Promote
HMT
watches
by
sehng
up
kiosks
in
tourist
places
like
TajMahal.
Design
your
Time
§ Offer
customized
line
of
watches
in
premium
category.
§ Watches
in
this
segment
can
be
assembled
with
the
premium
components.
§ CustomizaHon
may
include
engraving
of
names
,
iniHals
in
dimonds,
rubies
etc.
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
9. ObjecGve
§ The
objecHve
of
this
report
is
to
derive
a
perceptual
mapping
of
HMT
with
other
compeHng
brands
of
its
segment.
§ The
method
of
mapping
to
be
used
is
non-‐a_ribute
based
mapping.
§ The
perceptual
map
created
will
help
us
determine
the
distance
between
HMT
and
other
bands
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
Perceptual
map
of
Watch
brands
10. Methodology
§
The
product
segment,
which
was
analyzed,
was
watch
industry.
§ The
brands
menHoned
were
divided
into
7c2
=
21
pairs.
§ The
data
were
collected
from
60
respondents.
§ Respondents
were
asked
to
rate
the
21
pairs
with
the
raHngs
between
the
range
of
(1-‐10)
1=
Most
Similar
2=Most
Dissimilar
Brands
§ HMT
§ Titan
§ CiHzen
§ Seiko
§ Skagen
§ Fast
Track
§ Sonata
Key
Insights
§ Customers
perceive
HMT
as
a
compeHHon
to
market
leader
Titan
with
similar
a_ributes.
§ The
distance
between
HMT
and
Titan
is
low
indicaHng
customers
feel
that
both
brands
have
similar
a_ributes
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
11. Sample
Overview
§ No
Of
Respondentsè
50
§
Males
è
62%
§ Females
è
38%
Age
group
§ 16-‐20
years
à
28%
§ 21-‐25
years
à
6
%
§ 26-‐30
years
à
40
%
§ 31-‐
35
years
à
14
%
§ >35
years
à
12
%
Income
Range
§ <
5
lakhs
!
22%
§ 5
–
10
lakhs
!
62%
§ >
10
lakhs
à
16%
84%
16%
HMT
Brand
Knowledge
Yes
No
54%
8%
38%
0%
10%
20%
30%
40%
50%
60%
Titan
Timex
Others
Brand
preference
Brand
preference
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
12. 8%
60%
20%
2%
Essence
Of
Watch
Collecter's
Item
Style
Statement
Tells
Time
Obselete
Behavior
/AspiraGons
§ Wearing
watches
is
a
fashion
statement
rather
than
a
uHlity.
§ Consumers
are
more
concerned
about
the
brand
of
the
product,
the
technology
used
and
design
of
the
watches.
§ Though
watches
now
a
days
can
be
delivered
at
consumer’s
door
step
availability
is
not
a
major
concern.
§ Titan
is
the
most
preferred
brand
but
the
others
consisHng
a
major
internaHonal
players
have
a
strong
demand
34%
26%
10%
24%
6%
0%
10%
20%
30%
40%
Brand
Look
Cost
Technology
availability
CriGcal
AXribute
CriHcal
A_ribute
Why
HMT
History
Ideas
Sustainability
PromoHon
PosiHon
Mapping
Research
Behavior
13. Channels(TradiHonal)-‐
• TV
• Bill
boards
• Posters
• Radio
• Newspapers
• Magazines
(Digital)
• Facebook
• Twi_er
• Email
• Search
Engine
OpHmizHon
• Mobile(Apple,
Android)
Tag
line
“Timekeepers
to
the
naGon”
• Tagline
showcases
the
rich
history
and
tradiHon
of
HMT
watches.
• HMT
can
build
on
this
trust
and
legacy
by
providing
its
customers
quality
products.