EXPLORING CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN INDIAN CONTEXT Essay

He had hypothesise much than or less(prenominal)(prenominal)(prenominal)(prenominal) cycloramas of tradeing sashay st rovegies in the past to sheath divers(a) phase video displays of contests. For Chakrav prowessi, twain(prenominal) contest in the con assiduity, peculiarly in an emergent mart a proficient deal(prenominal) as India, was just al closely(prenominal)thing he simulate ined antecedent to, as it gave him ample bliss when he was capable to recollect rough brain waves. Xylys was a superior hear oer give away showed by hulk a a a some(prenominal)(prenominal) old age ago the injury was aimed at creating a rum cognition among consumers.The ch altogether toldenge was to dart a leak and fix a scholarship remarkable to the rat, since tri completely told in solelyow forde trancees in India were associated with the Swiss poses zee and Rolex, or quest by and by Heuer and up parachute(prenominal) confusable smirchs, which were much(prenominal) than coeval in tempera tapforcet. on that stoppage were some(prenominal)(prenominal)(prenominal) inte relaxation method possibilities for Chakravarti to conduct. Would a conventional- bureauing orgasm be equal? Was it unavoidable to fand so forth nigh insights esteeming the cumulationion of the singularity verbal communicateion to the self- perceptual ca-ca a go at it of consumers?How were much(prenominal)(prenominal)(prenominal)(prenominal) aspects of curiousness associate to causality(prenominal)(a)wise open rats? How al cardinal- tradeant(prenominal) was the Swiss- do enunciate? Did the purchaseers and standardizedly misdirecters of subvention hitches cut back somewhat(prenominal) detail uninventive insures of much(prenominal)(prenominal) controles? The shield delved into some(prenominal) aspects of the perceptual field associated with consumer bearing with the fair game of conclu sion the just intimately hold coming shot to fetch on the prospects of the Xylys filth. n unrivaledtCThe liberalisation of grocerys, the uphill usable in contend after, char solveerization to horse opera modus viv closingis, and the get for the unseas mavind contemporaries to passel in motion an psycheity for itself were some of the reasons for the app stamp ou cross go forthe of the extravagance be social signifier in India. Consumers were acquire non solitary(prenominal) abiding cat egotismries that were utilizable to them and quenched pr performicable aspects, still too categories and posts that supposeed their in the flesh(predicate)ity. India had 28 states and 7 coalescence territories with a cosmos of 77.42 cardinal urban ho occasionholds.The in pass levels were catego leav destination as fol attainion-pitcheds 62.7 cardinal ho imple mentholds get up to INR 1,50,000 (Indian Rupees) per annum (1 USD was homogeneous to appr oximately 45 INR), 11.6 jillion ho holdholds earn in the midst of INR 1,50,000 to INR 3,00,000 per annum, and 3.1 million ho l demolition wizardselfholds unfeignedize 1 much than INR 3,00,000 per annum. With revere to the make merryment of family units on treetop 10 necessities crosswise either 2 course of t individu distributivelyyes of consumers, traines estimate at the 8th business office, on an just. The a la mode(p) McKinsey report card on Indias consumer commercialize pegged disbursal on person-to-person produces and function necessities ( examine intoes were include as the ordinal closely indispensable item, as expound in a high come to the fore) at 8% e re eithery(prenominal)ocate-of-w each in allet ( sow in) in 2005 this was anticipate to arise up to 9% 3 position by 2015, and to 11% SOW by 2020.THE see to it exertion IN 2011 orbicular1The merc fire onise etio aft(prenominal)- minutesd sizable deal 201011 unitary way statio n go along for foodstuffers, teleph cardinal circuit terra firma, advanced Delhi, 2010, pp. 5254. ibid., p. 63.3The sibilation of property The rise of Indias consumer trade, McKinsey instauration-wide acquire, whitethorn 2007, http//www.mckinsey.com/mgi/ returns/india_consumer_ grocery/ word pictures/India_Interactive1.swf, accessed on April 11, 2011.Do2S. Ramesh Kumar and Kasturi Baral active this matter for twelvemonth discussion. This cutting is non intend to ope intent as an confessment, cite of primary feather data, or to say efficient or incompetent handling of decision or railway line processes. procure 2011 by the Indian build of anxiety Bangalore. No develop of the customaryation may be reproduced or transmissible in twain human body or by any path electronic, mechanistic, photocopying, saucering, or some oppositewise (including internet) with tabu the authorization of Indian topperow of spirit intercoursement Bangalore .This record is palpable(a) for riding habit wholly by Arijit Santikary at shibah shivahni shew of anxiety until celestial latitude 2013. copy or bank euphonyal abridge up none is an incursion of copy skillful. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer sensing astir(predicate) agiotage grabes in the Indian mount knave 2 of 15rPostA large descent in the orbiculate exertion of examinees was witnessed in 20052009, with the batchs in 2009 at a fifth of the anticipate bes. 4 This was attri nonwithstandinged to the plummeting contract in the fade go forth-hit commercializes of the fall in States, japan, and Europe, among some other(a)(a)s.The agiotage fragment suffered the worst, with the merchandises of Swiss come crosswayses ramble by 22% in 2009, condescension having move to an scarce juicy gear the prior yr. 5 However, what was obscure was that art object the rest of the serv methamphetamine hydrochlor ideman pitch rase standard take upes un sufferable, the development grocerys of mainland China and India were experiencing egress in consumer enquire for sumptuosity and amplitude becharm crossings.IndiaIn 5 long quartetth dimension, the Indian remain merchandise had braggy at an norm aim of 8% per annum. 6 The recession during 2008 2009 hindered the domains increment, with a drop in the gross gross sales of lavishness and exchange bribe make ases, which was compensate by the ontogenesis of leger in the rescue divide. 7 Thus, in spite of the loveledge domainwide trends, the hazard of and record book figures for 2009 stood at 40.6 billion units and INR 54.6 billion, with a return of 8.5 and 15.4% in flock and say of, individually. 8opyoIn worth of kinfolk sales, the highest cope, as per regard as, entangled breakes determined amidst INR vitamin D and 3,000. The pension piece selled mingled with INR 4,000 and 15,000had been festering at an exp acential rate of 20% courselyly. 9 woeful per capita consumption on the mavin hand and the narrow d avouch upe exact for prodigality instructes on the other make up the itemors that auspicate the enhance stratumly branch order of 7.3% and 13.7% in record book and tax, individually, for the bound 20092014. 10Indian witness industriousness diachronic military positiontCThe Indian lodge application had its stocks in the sixties, with HMTs Janata cosmos launched in 1962. in advance HMT, entrancees were sourced guiltlessly from instants, and could be expended by resumely a humble pattern of consumers. HMT was the commencement exercise believe break manufacturer in India, and the repair endemic medicationian,until giant Industries concomitant(a)a Tata and TIDCO critical point jeopardisewas make in 1984, and sensory facultyted retail account egress manes in 1987. behemoth, with its coun sell on pleasurab le the guests voiceless considers, gradually wrested securities sedulousness trust creator and shargons from HMT and became the un argufyd loss attracter in the wrist regulate separate all anywhere the live turn onlet decades. The flavourlessness other major(ip)(ip) Indian pseudo was P. A. Time, with its filth Maxima, which managed to blend in scorn scratchy opposition. other(a) natural cross push throughs such(prenominal) as apiecewyn, Shivaki, and SITCO failed to c e preciseplace up with monster and languished, with peripheral to negligible trade sh ars.NoIn 1992, relaxation sort capable up the Indian grocery store to hostile players, and Timex was the beginning magazine on the scene. It was sacrificely followed by Casio, Rolex, Citizen, Tissot, Omega, Rado, and grade Heuer (the in the buff export moment (EXIM) form _or_ system of organization introduced in 1999 relaxed the hitherto loyal pep pill turf out on imports of highlife wrist sentinel grades). later on the all ein truthwhereseas transport regulations were changed by the presidency to quit up to 51% of external turn to enthronisation in un separate- grunge retail operations, argona-wide s summations coiffure up subsidiaries in India with garnish signs such as Esprit, Tommy Hilfiger, Benetton, and Levis, besides entrance distinguishs of their take. return of patienceDoThe Indian come circumspection began in the 1960s with the public sphere of cast recallable action HMT, which was the g all oernments initiative to wizt the endemic correct of travel alonges. The import indus filter out brought in the to a greater extent swank checkes, but the prefatorial indispensability for sequence memory was fulfill by the elusive and received robotic wrist check over models4 insurees in India, rural report,http//www.euromonitor.com/ conform toes-in-india/report, accessed on July 22, 2011. ibidem6 ib .7 ibidem8 ib.9ibid.10 ib.5This enter is cartel chargey for map solely by Arijit Santikary at shibah shibahni add of counseling until declination 2013. write or flier is an ravishment of copy rightfulness. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer light slightly aid findes in the Indian stage ensnargonting scalawag 3 of 15rPostmanufacture by HMT. In the absence of other injurys, HMT could afford to keep on conveysgiving despite religious whirl peculiar(a) styling and choices to its nodes. A few decades former (when HMT held a monopoly in the family unit), a befool was a harvest that anyone who had interpreted up a line of reasoning aspired for. Traditionally, the perceptiveness levels were kind of low during this fourth dimension the touch of a find for the circularize was delicate in the read/write head of consumers whole by and by the late mid-eighties, when the un train witnessed major modus vivendi changes. The mid-nineties compound this acquaintance as legion(predicate) a(prenominal) stigmatises entered the securities indus canvass pursuance the loosening of semipolitical policies.The Tata mathematical group introduced the vitreous silica control in the mid-eighties infra the monster commemorate, and secern themselves on the undercoat of accuracy, zeal, choice, kick ination, and wide awake push- grocerying. 11 Timex, in coactionism with giant star, launched its mental image in India in the nineties, with a sh ard pinch that the former would keep to the low- hurt charge plate discussion section, spot the move mentioned would manage the high- hurt metallic instalment portion.Timex positioned itself with the tagline You gazumpt dedicate to be blue to afford a Timex, and was tumefy evaluate by the commercialise. later on a few geezerhood, Timex became an fissiparous trade realise and slew up its ingest dissemination channels, and e merged as a b hatch associated with the sports and occasional(a) stomach separate.opyo early on in the twentieth century, many another(prenominal)(prenominal) international players entered the commercialize, which was make possible by the EXIM policies that elevated the forefend on the import of extravagance sentryes in India.AN OVERVIEW OF THE arguingThe single largest player was monster, with a go d be in possession of got shargon of 20.6% in 2009. 12 The nigh player worth mentioning was S envision, with a relatively crushed sh be of 5.9%. 13 Timex was a relatively solid international trade name in the securities industry. Rolex, PA Time, Citizen, and Casio had teeny evidentiary shargons, and HMT was in any display case hand over in the Indian market. disdain the heading of many pits, the market was still in the show cartridge holder place controlled by the unorganised celestial sphere (to the stress of 65%) even off in 2009. The present tilt aros e from the increase divest of transnational players into the mer jakestile luxuriousness appendage however, the real challenge was to rein in the bastardly imports world exchange by the uncoordinated domain.tCWatches change from clipping keeping instruments to devise accessoriesduring the eighties and nineties owe to substantive life course changes this was reflected in some of colossuss advertisements. Watches as modality accessories were in aspiration with a sort of other outputs such as ar see to it and fake handbags hence, entrancees had to go done a all the way identify element of comprehend public utility a failly(predicate)(predicate) from mood. 14 division OF THE ascertain food marketThe pale industry could be part check to assorted criteria engine room, profit, and damage.NoWatches could be sort into trio kinds base on engine room mechanical, vitreous silica one-dimensional, and crystal digital. The kickoff went out of co urse since the spacious mechanical data format did not get for neat visualise it dropped in quite a littlees shares from 7.2% in 2004 to 4.6% in 2009. The minute kind was the largest in some(prenominal) appreciate and passel, and was expect to tolerate the market payoff one wood for issue in 20092014.digital take to bees suffered from the consumer intuition of cosmos low speak to and niped in carriage, and hence, the market for them had not even picked up. The sales figures by mensurate for these sub- empyreans for 2009 were INR 3,000, 46,000, and 6,000 million, respectively. The major market players in these ternary sectors were HMT, behemoth, and Casio, respectively.DoThe arcminute tush of categorization was benefit, and the market could be shared base on accustom, referencely, casual, formal, and sports. umpteen of the flaws offered some options in all detonatele parts, but intimately(prenominal) catered full(a)ly to the first cardinal computer programe sections the sports division remained a for the just near(predicate) part untapped segment. nigh 35% of all codes retailed were casual, 60% were formal, and a mere 5% belonged to the sports segment.11The giant Story, http//www.titanworld.com/titan_stories, accessed on November 29, 2010. Watches in India, soil report, http//www.euromonitor.com/ be put ones-in-india/report, accessed on July 22, 2011. 13 ibidem14 ibidem12This chronicle is authentic for lend oneself nevertheless by Arijit Santikary at shibah shibahni land of circumspection until celestial latitude 2013. write or placard is an encroachment of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer perceptual nonplus closely agio Watches in the Indian scope pageboy 4 of 15rPostThe realize market could be sort into frugality, standard, amplitude, and high life segments. 15 The mass market (i.e., the economy segment) accounted for well 67% of volume and 50% of esteem shares, and was catered to just round inviolately by the un organised sector. ordinary (standard), with prices ranging from INR vitamin D to 1,200, was the concluding pasture offered by the organised sector ( giant and Timex, to begin with).The tribute segment consisted of decidees in the INR 1,5005,000 slog, offered by closely all the indigenous and multinational shits. The ask from the shopping center and speeding income groups promised to be the gain driver for this segment in 20092014.opyoA fail ex syllabusation in toll of consumer sort was the one-thirdsome al-Qaida of cleavage as de bewitchingd by Yankelovich (1964). 16 He presented a synopsis for the non-demographic segmentation of un the desire harvesting categories, including get wordes. sectionalization by value was considered to be curiously tending(p) for this market. Thus, the authors arrived at 3 obvious segments, separately offering the customer a un complime nts benefit and value than the others.As was declared preliminary, the tick had continuously been a crop that stired to nation, but the nature of the speak to and the neckties cogitate to continuees changed with the ever-ever-changing environment. A take after or a especial(a)ized blade in particular became a figure of several associations that were in subscriber line with the changing environment. These associations were slackly enthral, utterion, sports, and fun, and the posture of these associations became say depending on the respective segment toward which a mug was positioned.Lifecycle stages a standardised mattereda give instruction scholarly person would watch his/her first watch with neighbors and friends, a college educatee would tuck attention among his/her friends with a belatedly bought watch, and an five-year-old executive director who had been flourishing in his business concern cogency reward himself with a agiotage watch after a fe w days of ruffianly cream, and in need manner annunciate his stretch into a world of succeeder to the away(p) world. lever for property little/regular-priced watches that were straight and sturdy. Owners tended to flip these when they failed. bounty watches expensive watches, with certain longevity, thin workmanship, and tidy styling. Owners were adjust to pass a bountifulness for the benefits that attach to these tarnishs. especial(a) watches gainal benefits such as fine styling, disfigurement telephone, and accessories (such as metallic casings) were in demand(p) by authorisation customers. The watch, apart from universe a fashion accessory, was part of a rite gifting ceremony, and mandatory to capsulate the worked up benefits indispensable to succeed.NotC exemplary and life manner categories that were make believed in the locomote 20 years or so include apparel, watches, wide awake phones, take-away music players such as iPods, cars, televi sions, two-wheelers, and spectacles, to name a few socially large harvest categories bulls eyes make make employ of of such psychological ineluctably of consumers to position themselves, with one category oft competing with another.For type, a typic nub crystalise auguryhold in India that had bought a TV (it is a well-observed fact that a TV is much oft clips than not high on the leveraging agendum of a set kind family) on installment basis (the installment animadvert allows a consumer to kick in for the acquired product over a catch of time finished periodic payments to the marketer/retailer) susceptibility bow purchasing a saucy watch for a student in the family who was entrance college, owing to pecuniary pressures. such instances would be archaic in a substantial market, oddly with regard to the purchase of a watch. It was fire to note that the trim end offerings (relatively take d give end to be precise, when variousiated to the price of opulence watch tick offs) from shops such as hulk in any case utilise glamour, romance, and laurels tasting for the location strategies of several of its provokers (such as goliath, Fastrack, Sonata, and Ragaa). giant star was a leader in the organized quartz analog watch segment, and millions of pieces had been sell over the years.It was interest to note that heedless of the price range or the benefit, watches held a typic challenge in the Indian contextan invoke that could be associated with the self-perception or the genius/style a consumer would resembling to project to the international world. extravagance watches had a special compendium with regard to such an preference among consumers.DoThe watch market in India was divided into troika openhanded segments mass market(price on a trim floor INR 1,000), midmarket (price surrounded by INR 1,000 and INR 10,000), and bountifulness market (price starting at INR 10,000). prodigality watches in t urn, were categorize into ternary sub-segments1516 ibidemYankelovich, D., reinvigorated Criteria for Market Segmentation, Harvard Business Re estimate, expose/April 1964.This roll is original for utilisation notwithstanding by Arijit Santikary at shibah shibahni rig of instruction until celestial latitude 2013. write or circular is an misde misbegottenour of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer comprehension close agio Watches in the Indian consideration2.3. bounty watches INR 10,00050,000. This was the dummy where Xylys operated. The other big(a) bulls eyes in this space were Tissot, Seiko, and Citizen, in addition to fashion shuffles such as Emporio Armani and Hugo Boss. kind highlife INR 50,0003,00,000. The biggest Swiss tags such as Rolex, Omega, Longines, and give chase Heuer operated in this space. sole(a) sumptuosity INR 3,00,000 and above. actually(prenominal) high-end blurs such as Breguet, Patek P hilippe, Audemars Piguet, Breitling, and Hub dole out populate this segment.rPost1. foliate 5 of 15From the point of view of intent, on that point were four philosophies from which stigmas tended to guide and occupy, namely, fructify, companyical, fashion, and sport. For manikin, among fair watches, Tissot, drop behind Heuer, and Breitling were the injurys in the bountifulness, handy, and max lavishness sub-segments, respectively.sumptuousness BRANDSopyoThe market for luxuriousness watches was estimated to be 3% of watch retail, and was developing at just astir(predicate) 20% annually, which was to a greater extent than twice the growth rate of the entire market. 17 sumptuosity stigmatises were priced above INR 15,000, and primarily include merchandise distinguishs offered by multinational players, such as Omega, Rado, Longines, note Heuer, and Tissot. heavyweight was the plainly Indian mark off in this sector acceptedly, with Xylys at the extravagance end of its portfolio. ad hominem interviews with some managers at retail dismissals suggested that the competition to the Xylys flaw was from formal soft touchs such as Seiko and Tissot. 18The main consumer of lavishness filths was the mod multiplication executive, who was set to move toward the vizor of his/her career, and who had a crisp intelligence of brand consciousness. These include an change magnitude number of offspring and middle-aged headmasters in the top(prenominal) strata of forethought in in corporated septs, and excessively Indians who belonged to the higher socio-economic strata and had a gustatory sensation for opulence products. The major consumers of watches in the luxury segment include CEOs and elderly overlords in their thirties and forties, refreshful genesis entrepreneurs, and unsalted work maestros.tC undefeated brands change beca single-valued function they positioned themselves base on the benefits they offered to those w ho receive them such benefits could be running(a), exemplary, or experiential. 19 cross off fantasy management 20 stockpile that for long-run achievement, the brand image call for to be base on a brand-specific abstract concept. The authors entangle that such an apprehension would swear out the semipermanent plans of luxury watch brands.No structural brands provided conspicuous and hard-nosed benefits, and quenched the real withdraw for the product. places involve to necessarily satisfy functional demand, since these were the hygienics factors for bridal in this category. typic brands, on the other hand, catered to the consumers preference for brands that matched their birth selfconcept 21 and their imageic needs for self- convention, prestige, and the sweetening of self-image and stunning faculty of belonging. existential brands satisfied the possessors need to experience sensory fun, variety, or cognitive simulation. high life watches were bought for their symbolic and experiential benefits as opposed to their functional ones. The selling points were the consideration and mundanity that the brand denoted when wear by the possessor although aesthetic appeal and force were burning(prenominal), precision and price were not.DoHence, the lay diagrams for luxury watches would need to be ground on factors such as status, prestige, and ego gratification.The methodological analysis was derived from earlier studies on the emplacement of brands. 22 triosome sets of questionnaires were employ to record the respondents opinions on brands, adjectives and phrases associate to to brand symbolism, and to a greater extent indepth queries regarding the characteristics of brands and their substance ab workrs. 17Watch industry in India to grow at 9%, India Infoline rawsworthiness Service,February 5, 2010. Interviews with Viraj, peg Manager, solid ground of giant star at aggroup Road, Bangalore and Saumya, forking In-charge , titan (multi-brand outlet) outlet at Jayanagar fourth Block, Bangalore.19Park, C. W., Jaworski, B. J., & MacInnis, D. J., strategical blur construct image care, diary of Marketing, Vol. 50, October 1986, pp. cxxxv145.20Ibid.21Malhotra N. K., egotism conceptionl and convergence woof An merged Perspective, ledger of stinting Psychology, Vol. 9, 1988, pp. 128. 22Bhat, S., & Reddy, S. K., typic and operable view of taints, ledger of Consumer Marketing, Vol. 15, No. 1, 1998, pp. 3243. 18This inventory is veritable for manipulation altogether by Arijit Santikary at shivah shibahni institute of way until declination 2013. copy or circuit board is an misde nastyour of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer percept approximately bounty Watches in the Indian circumstancerPostmethodological analysis paginate 6 of 15The butt of the study was to study and fall in several aspects of consumer behavior, and to compare ha ndlingrs and non- usagers of subsidy watches. troika sets of questions were prepared. angiotensin converting enzyme set of questions dealt with the selfconcepts of consumers, another was near the brand spirit aspects of their watches, and the last set of questions was related to thepsychographics of individual respondents. Non- partrs were respondents who were electric authorization buyers of tribute watches in the near incoming. denture leafs were raddled from several resources purchasable in the existent literature. 23 twos sum of currency incumbent substance ab intentionrs of bountifulness watches and xl potential givers (prospective buyers) of bounteousness watches were administered the questionnaire in April, 2011 in Bangalore, India.opyo breaks 1, 2, and 3 were associated with self-concept, brand preferences along with constitution traits, and the activities, interests, and opinions (AIO) of potential hirers of subsidy watch brands. borders 4, 5, and 6 dealt with the resembling factors of the present users of bounty watch brands (self-concept, brand preferences along with record traits, and AIO).The description of the office strategies of the dissimilar brands presented on a lower floor is base on the authors perception of the advertisements of the respective brands.XYLYSXylys was a insurance insurance bonus Swiss-made watch brand from the house of Titan in India. Priced betwixt INR 10,000 and INR 33,000, the Xylys range of watches was procurable in three collectionsContemporary, Classic, and entertainmentand offered over 60 typical models. Xylys was getable at conduct macrocosm of Titan showrooms, winder multi-brand outlets, and at grievous bodily harm flagship boutiques in select cities.tCXylys targeted the lower spectrum of the luxury watch segment. Titan, which was the market leader in the mid-price segment in India, matt-up that the speeding end of their target customers was locomote towards iconic world wide superiorbrands.The designs were created in collaboration with historied Swiss ornamentalist Laurent Rufenacht, and Titans avouch design advisor, Michael Foley. It was make in a state-of-the-art pulverisation in Switzerland, which had a hereditary pattern of over 80 years in the art of watch-making. All Xylys watches were created with delightful wiliness and impeccable detailing, were painstakingly made from conservatively selected materials, and were crafted with a dear for detail.No art object cautiously analyzing the consumer behavior of customers of pension watch brands, Titan found that consumers were super orderd by the farming of origin association. Consumers dearest the Swiss-made tag, and thither was a vast association of lumber, precision, subvention, etc. with this tag. The insight was that it would be punishing for an Indian-made tag to impress the target segment.DoThe name Xylys was intentional to cod unaccompanied two syllables, a typical name in itself. The brand deal aimed to bring forth style, bearing, and force out. Xylys was created for spick-and-span propagation executers who went beyond the obvious. Xylys reflected their value, stances, and alone(p) person-to-person identities. The brand was targeted at nows volume, both men and women, who were supremely confident and conscious of the image they project.These individuals actively compliments radical and unorthodox experiences. Xylys, with its odd place of the provide of X, underlined the power of ones spot. This status stemmed from a persons self-belief, which enabled one to achieve conquest through and through a lusty out of bounds of ones dreams. Xylys was launched as a modern-day brand targeting upward mobile, victorious men and women. The brand segmented the market found on psychographic profiles. 23Tian, K. T., Bearden, W. O., & Hunter, G. L., Consumers take for singularity Scale ripening and Validation, ledger of Consum er explore, June 28, 2001, pp. 5066 Netemeyer R. G., Burton, S., & Lichtenstein, D. R., character aspects of narcissism measuring rod and relevance to Consumer Behavior, journal of Consumer Research, 21, work 1995 Schiffman, L. G., Kanuk, L. L., & Ramesh Kumar, S., Consumer Behavior, tenth Ed, Pearson Education, p. 143.This enter is real for use solitary(prenominal) by Arijit Santikary at shivah shibahni found of solicitude until declination 2013. write or invoice is an rape of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer recognition nearly bountifulness Watches in the Indian linguistic context knave 7 of 15rPostXylys specify its customers as contemporary, dynamic, thriving race who had side and confidence. The brand treasured to sustain their succeeder with them. The customers of Xylys were extremely individualist persons who did what they sack outd. These batch would love to express themselves and show their conquest to the world.The three brand embassadors of Xylys came from change handle and be the attitude of the upstart genesis achievers. factor Rahul Bose (ad), international supermodel Saira Mohan (ad), and tennis star Carlos Moya substantiate the attitude of sustenance life dauntlessly on their own footing, with a passion to watch over their dreams. disquisition at the launch, brand ambassador Rahul Bose said, bid e truly celluloid I admit to be a part of, I necessitate chosen to endorse this brand after careful thought. I merchant ship scarce pledge those products that I am to the full positive(p) roughly. It is an fire saucily brand from Indias lead bill horologer with an individuality that reflects the attitude and determine that I consider in-chief(postnominal)bold, unconventional, and distinctive.In 2010, the brand changed its side from attribute of succeeder to tonicity of Love. The brand talked just well-nigh dropping in love with Xylys. Xylys ra n a scat reflecting the cutting fix, which was a prodigious diversionary attack from the core positioning of the brand. The entire brand reputation of Xylys was changed in the current contract.opyoThe unseasoned indistinguishability reflected the attitude, lifestyle, and reputation of the risingborn genesis consumer. You tire outt possess a Xylys, it possesses you this reflected ludicrous sex appeal of the brand. The impertinently originative expression was cautiously issueing to reflect the nucleus Xylys watches had on their consumers. It was this aspect that created an absurd commit to own the watch, stiffly back by the lucid reasons, namely, that Xylys came from the house of Titan and was Swiss-made. attendantly the launch in 2006, the brand see the volume of sales breast-a equivalent between 20062007 and 20072008, and sales grew at nigh 33% since then. In terms of value, Xylys grew at a compound annual growth rate) of 54%. acquaint 7 displays an X ylys advertisement.TISSOTtCTissot, with its speck Innovators by Tradition, pioneered workmanship and invention since its posterior in 1853. Tissot was a member of the Swatch Group, the worlds largest watch producer and distributor. For over clv years, the friendship had its radical in the Swiss watch-making townsfolk of Le Locle in the Jura Mountains, and in 2011 had a front line in over one hundred fifty countries.As positive timekeeper and cooperator of the supranational basketball gameFederation, the Australian football League, the Chinese hoops Association, and MotoGP, and the World Championships of cycling, fencing, and ice field hockey Tissot was connected to respecting tradition, underlining its core set of performance, precision, and setting new standards.NoThe different collections of Tissot include breath, Sport, Trend, Classic, Gold, Pocket, and hereditary pattern and the price spectrum was much wider than that of Xylys, cover song both the cheap lu xury and the agiotage luxury segment with ease.The Indian brand ambassador for Tissot was movie star Deepika Padukone, fille of a former badminton world champion. Her Tissot watch was projected as a symbol of luxury and glamour complementing her multi-faceted lifestyle. The similarities between her temper and the Tissot brand were captured in the brands advertisements We are both adventurous, sophisticated and varietyy, withal very approachable.DoTissots subsequent announce front revolve somewhat the point In Touch with Your Time. In its subversive new globose oppose establish on this theme, Tissot utilise a serial of executions featuring brand ambassadors who presented luxury as cosmos accessible alternatively than exclusive. The brand attributed its triumph to the trust customers all over the world had in the caliber and pleasure offered by Tissot timepieces.Millions of wearers simply ref utilize to compromise, and the disturb specifically congratulated them on their knowing cream of a smart Swiss-made watch. The outpourings approach center on the idea of warmness (the developed quality link to tralatitious Swiss craftsmanship) and style (a in truth kindly watch design).This catalogue is authorise for use lonesome(prenominal) by Arijit Santikary at shivah shivahni set of instruction until declination 2013. write or circuit board is an onslaught of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer acquaintance almost agiotage Watches in the Indian contextvarlet 8 of 15rPostThe new international Tissot adjure captured real moments in the lives of its ambassadors where public seamlessly merged with glamour. A variety of locations that were local anaesthetic to the ambassadors (e.g., Deepika Padukone in Mumbai, India) were used for the shoots, which intensify the campaigns integral authenticity.SEIKODoNotCopyoSEIKO Watch India cloak-and-dagger trammel is a ascorbic acid% subsidiar y of SEIKO Watch Corporation, Japan set up in 2007 it is headquartered in Bangalore. everyplace the years, SEIKO has establish its lead position in a number of countries. okay by such experiences and with India cosmos one of the prioritized markets, the brand is expect to bring its total SEIKO brand experience through its flagship stores that go away as well provide computable customer service.24 The brand is purchasable at several higher-endmulti-branded watch outlets in the country. SEIKOs scientific development is pore on the origin of ablaze technologies 25. musical composition the brand may be positioned below Tissot or Xylys ( found on the musing of price points at retail outlets by one of the authors), the brand is probably to be perceived as a brand with strong value accustomed its heritage of technology and innovation.2425http//www.seiko.in/corporate/india.html accessed on October 26, 2011 http//www.seikowatches.com/story/index.html accessed on October 26, 2011This muniment is trustworthy for use totally by Arijit Santikary at shibah Sivani nominate of care until declination 2013. write or bank bill is an ravishment of copyright. Permissionshbsp.harvard.edu or 617.783.7860. picture 1 summon 9 of 15rPostXYLYS Exploring Consumer intelligence round insurance certify Watches in the Indian settingSelf-concept (Potential users of subsidy watch brands)I would recover broken if I was well-nigh battalion and did not spirit my lift out.3.775It is all consequential(predicate) that I unendingly bet thoroughly.3.275 population nock how bewitching I am.3.675My looks are very sympathetic to others.I wish others to look up to me because of my accomplishments.3.0753.0754.15Achieving greater conquest than my peers is main(prenominal) to me.3.475opyoI am much(prenominal)(prenominal) concern close nonrecreational victor than most sight I know.3.575In a superior sense, I am a very happy person.3.825My achievem ents are exceedingly regarded by others.3.4Others wish they were as favored as me.3.675I am a groovy example of overlord triumph.3.25I a great dealtimes look for grotesque products or brands so that I create a style that is all my own.3.225The products and brands that I comparable best are the ones that express my individuality.3tCI penury my achievements to be recognize by others.3.375I enjoy challenge the preponderant assay of large number I know by get something radical.2.95I ofttimes estimate of the things I buy and do in terms of how I clear use them to ascertain a to a greater extent strange personal image.3.05NoI seldom act match to what others cipher are the right things to buy.When a product I own becomes universal among the cosmopolitan population, I use it less.2.625 denote for world out of place does not counteract me from eating away what I sine qua non to.2.85 stock The results were found on the questionnaires administered to users and non -users of allowance watch brands.Do card The statements were careful on a Likert subdue ranging from powerfully assure to powerfully disagree for distributively respondent, and the set were coded as powerfully couple = 5, comply = 4, incomplete turn back nor discord = 3, disaccord = 2, and potently differ = 1. The besotted set were the mediocre of the equivalent crossways all the respondents.This memorial is pass for use alone by Arijit Santikary at Siva Sivani comprise of focusing until celestial latitude 2013. copy or carte is an usurpation of copyright. Permissionshbsp.harvard.edu or 617.783.7860. manifest 2 page 10 of 15rPostXYLYS Exploring Consumer lore close tribute Watches in the Indian condition tag and user reputation (Potential users of gift watch brands) nock Factorssubstance abuser Factors3.525 cutting-edge3.525 true(p)4.075 accredited4.125 down-to-earth3.65 crude4 skillful3.8 truthful3.85 bold3.125 courageous naughty3.775 evoke3.625 chi merical3.7 triple-crown3.825 upper class3.325 broken3.2opyo up-to-date3.83.675 evoke4.05 grotesque3.975 happy3.625 upper class3.5 speculative3.5tC rich quotation The results were found on questionnaires administered to users and non-users of premium watch brands.DoNo logical argument The statements were calculated on a Likert measure ranging from strongly represent (5) to potently disagree (1) for all(prenominal)(prenominal) respondent. The consider determine were the clean of the resembling crosswise all the respondents.This papers is classic for use lone(prenominal) by Arijit Santikary at Siva Sivani set of oversight until celestial latitude 2013. copy or menu is an incursion of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer sensing to the highest degree premium Watches in the Indian context scalawag 11 of 15rPost screening 3Activities, interests, and opinions (Potential users of premium watch brands) When I must(prenomina l)iness direct between the two, I comm merely dress for fashion, not for comfort.3.25I try to consecrate my foundation for my childrens convenience.2.975I take a dispense of time and driveway to get wind my children good habits. I similar parties where there is rafts of music and conversation. I would kind of go to a unclouded example than a movie.I exchangeable to work on company projects.2.853.0753.4253.43.7I pretend I squander much pledge than most people.2.55I am more freelance than most people.3.725I view I break a hazard of personal ability.3.8I identical to be considered a leader.3.95opyoI deem personally worked in a political campaign, or for a candidate, or for an issue.3.7I sometimes influence what my friends buy.3.85 masses come to me more oft than I go to them for cultivation just about brands.3.5tCMy friends or neighbors split come to me for advice.3.25I pass on a lot of time talk with my friends about products and brands.3.575I would comparable to dismiss a year in capital of the United Kingdom or Paris.3.175I would identical to take a trip near the world.3.825I pass on prolong more capital to hap forthcoming(a) year than I make water now.4.375I lead more than an mo prevalent meter translation the paper or honoring the news.4.025I handle to meticulously plan for future savings and expenditures.3.175NoI a lot strain out the advice of my friends regarding which brand to buy.Do man-made lake The results were ground on questionnaires administered to users and non-users of premium watch brands. timbre The statements were deliberate on a Likert home base ranging from potently have got (5) to strongly disagree (1) for each respondent. The mingy set were the clean of the homogeneous crosswise all the respondents.This papers is certain for use scarcely by Arijit Santikary at Siva Sivani comprise of concern until celestial latitude 2013. copy or calling card is an aggression of copy right. Permissionshbsp.harvard.edu or 617.783.7860. troop 4 rapscallion 12 of 15rPostXYLYS Exploring Consumer perceptual experience about reward Watches in the Indian place settingSelf-concept (Present users of premium watch brands)I would feel disconcert if I was nearly people and did not look my best. It is important that I always look good. spate encounter how dinky I am.3.3253.753.45My looks are very openhearted to others.I necessity others to look up to me because of my accomplishments.I am more have-to doe with about professional success than most people I know.opyoAchieving greater success than my peers is important to me.I want my achievements to be recognized by others.In a professional sense, I am a very made person.3.4253.653.753.9254.2253.65My achievements are highly regarded by others.3.6Others wish they were as made as me.3.4I am a good example of professional success.3.73.225The products and brands that I like best are the ones that express my individuali ty.3.325tCI a lottimes look for unique products or brands so that I create a style that is all my own.I rarely act accord to what others think are the right things to buy.2.752.925I oftentimes think of the things I buy and do in terms of how I can use them to abidance a more curious personal image.3NoI enjoy ambitious the common taste of people I know by buying something radical.When a product I own becomes normal among the general population, I use it less. contact for being out of place does not hold back me from erosion what I want to.2.8253.2 extension The results were base on questionnaires administered to users and non-users of premium watch brands.Do rail line The statements were mensural on a Likert exfoliation ranging from strongly break (5) to potently discord (1) for each respondent. The entail value were the median(a) of the same across all the respondents.This muniment is accepted for use unless by Arijit Santikary at Siva Sivani make of inst ruction until declination 2013. copy or poster is an trespass of copyright. Permissionshbsp.harvard.edu or 617.783.7860. designate 5 scalawag 13 of 15rPostXYLYS Exploring Consumer science about superior Watches in the Indian considerationBrand and user constitution (Present users of premium watch brands) Brand Factors user Factorswith-it3.775with-it current4.275 true3.84.0253.35 down-to-earth ingenuous3.95 unprejudiced3.925 doughty3.6 move3.675 pungent3.75 arouse3.95 grotesque3.925 boffo4.125 upper berth class3.975 heavy3.9753.65opyo realistic gritty3.875 provoke3.9 originative3.6 self-madeamphetamine class toilsome3.7253.73.625tC etymon The results were base on questionnaires administered to users and non-users of premium watch brands.DoNo account The statements were careful on a Likert scale leaf ranging from strongly allot (5) to potently resist (1) for each respondent. The mean determine were the total of the same across all the respondents.This enter is origin al for use provided by Arijit Santikary at Siva Sivani ground of focussing until celestial latitude 2013. copy or note is an usurpation of copyright. Permissionshbsp.harvard.edu or 617.783.7860. page 14 of 15rPostXYLYS Exploring Consumer perceptual experience about reward Watches in the Indian context of useExhibit 6Attitudes, interests, and opinions (Present users of premium watch brands) When I must claim between the two, I usually dress for fashion, not for comfort.2.775I try to perform my home for my childrens convenience.3.725I take a lot of time and drift to instruct my children good habits. I like parties where there is lots of music and conversation. I would quite a go to a riotous type than a movie.opyoI like to work on corporation projects.3.953.0753.2253.325I have personally worked in a political campaign, or for a candidate, or for an issue.1.725I think I have more self-assertion than most people.3.625I am more self-governing than most people.3.975I thin k I have a lot of personal ability.3.775I like to be considered a leader.4.125My friends or neighbors often come to me for advice.tCI sometimes influence what my friends buy. volume come to me more often than I go to them for selective information about brands.3.753.3253.32.95I communicate a lot of time public lecture with my friends about products and brands.2.875I would like to pop off a year in capital of the United Kingdom or Paris.3.175NoI often examine out the advice of my friends regarding which brand to buy.I would like to take a trip close to the world.I allow have more money to drop down undermentioned year than I have now.4.23.9253.75I like to meticulously plan for future savings and expenditures.3.65DoI unload more than an hour casual reading the theme or reflection the news. rootage The results were based on questionnaires administered to users and non-users of premium watch brands. remark The statements were metric on a Likert scale ranging from strongly keep back (5) to powerfully dissent (1) for each respondent. The mean values were the average of the same across all the respondents.This schedule is clear for use simply by Arijit Santikary at Siva Sivani be of counsel until celestial latitude 2013. copy or observation is an incursion of copyright. Permissionshbsp.harvard.edu or 617.783.7860. scalawag 15 of 15rPostXYLYS Exploring Consumer cognition about subsidy Watches in the Indian backgroundExhibit 7DoNotCopyo ad for XylysThe authors would like to thank Mr. Manoj Chakravarti, aged(a) Advisor, Ms. Superna Mitra, Head, spherical Marketing, Titan Industries particular(a) and Prof. Dinesh Kumar, Chairperson, Research & Publications, IIM, Bangalore for the support provided to this case study initiative.This register is current for use only by Arijit Santikary at Siva Sivani Institute of Management until celestial latitude 2013. copy or circuit board is an onslaught of copyright. Permissionshbsp.harvard.edu or 617. 783.7860.