Marketing Plan

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Marketing Plan:

Marketing Plan Launching new Wrist Watch & It’s Prototype

Executive summary:

Executive summary A Swiss based company named “ Zesh Cole Ltd ..” is preparing to launch a new Male Wrist Watch, in the Indian market. The primary marketing objective is to make consumers aware about it’s new product and its unique feature, resulting to achieve huge market share in watch industry.

Company Overview:

Company Overview Zesh Cole Ltd.. is a Swiss watch-making manufacturer of high-quality, luxury wrist watches. It’s Watches are popularly regarded as status symbol. Type : Private held company Foundres : Zesh & Cole Estd . : 15 th November , 2010 Headquarters : Geneva, Switzerland Products : Wrist watches, Accessories Revenue : USD $ 1 billon Website : www.zeshcole.com

Vision & Mission Statements:

Vision & Mission Statements VISSION To be world class, innovative and progressive organization and to build world’s most preferred brand MISSION To create successful business based on a customer centric approach, and to contribute and serve to the community and attaining set objectives .

Market Description:

Market Description Wrist watch are woven by one and many. But each have their own preference and choice. Zesh Cole Ltd.. targets consumers whoever want to wear watch in either of the left or right wrists. The product gives a psychological as well as physiological satisfaction to the target customers. There are various brands in wrist-watch but there is no such product yet in the market which allow users to easily used on both the wrists according to sizes it fits.

Watch Market:

Watch Market GLOBAL Total Luxury market size ----$ 29.08 Billion. Luxury Watches ----Above $999 INDIAN Luxury watch market ---- Rs. 750 cr.

Newly launched Product review:

Newly launched Product review The New Product “ duoFLEX ” is a premium wrist watch brand launched by Zesh Cole Private label company in Indian market. PRODUCT & LOGO

Benefits and Product features :

Benefits and Product features Light weight Ergonomically designed Flexibility: Adjustable to any wrist sizes Color : Black & Silver Easily locked: Magnetic lock Used by either of the left or right hand Multipurpose Mode Button Musical alarm

The USP of the Product:

The USP of the Product The USP of Product is that it is ergonomically designed watch with flexible wrist band. It’s a multi-functional watch: ---Day & Date ---Navigation ---Lighting feature ---Sensor Technologically sound ---Single mode button for the above functions.

Competitive review .:

Competitive review . Domestic Competitors: Titan HMT Sonata Timex

Major Competitors.:

Major Competitors. Intenational Competitors: -Casio -Fossils -Tommy Hilfiger -Dior -Channel -Tag Heuer -Rolex - Rado

SWOT Analysis :

SWOT Analysis STRENGTH Quality Commitment to excellence Manage Demand Advertisement Unique features Innovation is core to its Strategy. Excellent customer service WEAKNESS Style Limitation Color Limitation High price limit market Positioned as a fashion wear rather than just utility products.

SWOT Analysis Conti...:

SWOT Analysis Conti... OPPORTUNITY Maintain exclusivity of the brand With a changing consumer attitude, people like to possess multiple watches for different occasions and events. THREATS Desirabilty diminished relative to other luxury brands. Economic Slowdown Expensive Entrants of new Competitors The fashion trend keeps on changing

Objectives & Issues :

Objectives & Issues First year objectives: First year sales revenue is projected to be 10% of the watch market industry. Investment to be made on advertisements as it is very important for any kind of newly launched company or product. Second Year Objective : However building brand image with constantly delivering superior quality and reliability of the product, providing proper functioning through the service centres to make the customers feel privileged and satisfied. .

Issues :

Issues To establish a well-regarded brand image of duoFLEX . Huge amount of capital is to be spent on different types/modes of advertisements so that the company’s name and product is well known to the customers. Advertisement through print and electronic media,fashion magazines, through internet access, social network sites.

Marketing Strategy :

Marketing Strategy SEGMENTATION Using the Geographic & Demographic variable Zesh Cole Ltd.. has segmented the market into the western belt that is the states of Gujarat, Maharashtra, and the union territories of Goa along with India’s centre- metropolitan city Delhi. TARGETING Our target market belongs to upper class/elite class, Executives, Corporate people. Target Customers: Customers who want to make status symbol through purchase and use of accessories.

Positioning Strategy.:

Positioning Strategy. duoFLEX will be positioned as a wrist watch with unique feature of its usability and with its technique of flexibility used in it’s wrist band. The product can be seen by consumer as a luxurious and product symbolizing social strata with is innovative and easy-to-use. Promotion campaigns & distribution strategy will help to achieve these above mentioned objectives. Point of parity: Customers can easily associate themselves with the product as a fashion accessory Point of difference: It is different in the sense as this is the first time a company is launching a male wrist watch with Duo-Flex concept.

Marketing Mix:

Marketing Mix Product Beginning with the duoFLEX , its first male wrist watch, the company will soon launch female watches based on the same technology and concept. Further products will be available in other colors too beside black & silver. Provides warranty for 5 years for it’s products.

Marketing Mix conti…:

Marketing Mix conti … Price Zesh Cole Ltd. want to penetrate into the market and to be known as the a product which is value for money. Premium price: (Rs. 35000- 25,00,000) The retailer or the distributor will not decide the maximum retail price (MRP) to be printed on the packs. It will be solely finalised by the company. Price depends upon in watch functions integrated in them. A mark up of as much as 250% will be used as a standard formula for Selling Price Calculations in the initial stages.

Marketing Mix conti…:

Marketing Mix conti … Place: Initially, Zesh Cole Ltd. Will launch its products to major centre of Delhi & Mumbai. In the second year of operation, the duoFLEX will be launched to Goa, Chennai and Kolkatta , operated under its own EBOs and larger retail formats like Shoppers Stop. The companies present distribution channel will help in reaching the target customer easily. There will three authorized service centre available in India at Delhi, Mumbai & Chennai and 12 other service centres (collection Centres ) operating in oher tier 1 st & 2nd cities.

Marketing Mix conti…:

Marketing Mix conti … Promotion Aggressive advertising will to be done to create awareness among the Indian people. Series of print ads in national newspapers and fashion magazines. Heavy advertising on TV channels showing showing proper demonstration and effectiveness of the product will be made. The product launch will be done at national level with Indian & International celebrities on the guest list for the new product launch party. Celebrity endorsements will be covered by media as part of the product launch party coverage. Golf tournaments IPL

A Print Advertisement to be published :

A Print Advertisement to be published F A S H I O N M A G A Z I N E

PESTLE:

PESTLE

Political: :

Political: A change in government policies in terms of Vat, Sales Tax, etc will also not affect the product prices as a mark up of 150% used can easily help the company absorb such extra expenses without changing the selling price. Government policy to tax in watch and jewelry. Strong trade links with trade based on mutuality in support with the Indian Government. India is politically stable at this point of time as congress is doing well from past few years & gained a strong position.

Economic:

Economic Economical-Per capita income of indian people is increasing. As compared to other economies, the Indian economy is providing a highly favorable environment, which is strongly supporting the watch industry. Because of inclination of Indian consumers towards it is a fashion products and accessories. The economic condition of the country is strong and growing. Economic policies of the country are facilitating new business setup and help in promoting existing business.

Social:

Social Gifting watches and jewelry in fashion There is no religious boundation for using the product, people from any religious background can use the product. Now men & women are becoming equally conscious about there appearances, in fact men category is growing day by day as we can see many watch product is being launched for men. Socially people now a days prefer imported brand, which helps it cash on the desire of the Indian consumer to use imported products. It will be strong in organizing social and promotional events like fashion shows, which build huge reputation among the people.

Technological:

Technological Technological advancements & innovations is changing the face of the traditional watch market. It will give faster and secured service, strong consumer understanding and as helped deliver world class products. The company’s access has acted as a strong value proposition for the company, in offering innovative products to the consumers.

Legal:

Legal It will work well within the legal framework of India. Legal environment becomes more friendly companies act are useful for lunching new product

Tariff and Custom Duty:

Tariff and Custom Duty “Additional duty" for imported goods was reduced to 14 percent Switzerland was one of the leading foreign investors in India. Swiss companies increasingly invested in the expanding Indian industry and services sectors. In the last four years, Swiss direct investments were to the tune of Rs 12.8 billion in contrast to Rs 8.3 billion . Indian Prime Minister Jawaharlal Nehru signed India's first friendship pact which happened to be with Switzerland on August 14, 1948. The Indo-Swiss bilateral relations has raised to a greater height since then .

Tariff and Custom Duty:

Tariff and Custom Duty President of India, Pratibha Devisingh Patil has underlined the need for signing free trade agreement (FTA) between India and EFTA for further promoting trade and investments between India and Switzerland. EFTA consists of only four European states – Iceland, Liechtenstein, Norway and Switzerland. Today, India is one of Switzerland’s most important trading partners in Asia with immense potential for further growth. Commodity trade is flourishing, and the volume exceeded the 3.5-billion Swiss-franc mark for the first time in 2010. Despite the global economic slowdown, Switzerland’s exports to India have grown by a tidy 19 percent in the first eight months of 2011

Slide 31:

Customs Duty in India – Tariff Chart ITEMS TO IMPORT CUSTOMS DUTY Laptop/Computers /iPad 14.712% DVD/ CDS (movie) 26.849% Other than Movie CD/DVD 14.712% Mobiles 1.03 % Digital / Video Cameras 26.849% Digital Steal Image Camera 14.712% Medicine /Supplement's 26.849% Sports Equipment 14.712% Entertainment, Sports equipment, Video games 26.849% Books free Electronics and Car parts 26.849% Computer Printers 14.712 % Other Than computer printers 26.849% Hand Watches 26.849%

Budget Preparation:

Budget Preparation Budget : Rs 95,35,000 Duration: 1.5 years

Budget planning:

Budget planning MEDIA INSERTION SIZE PLACE RATE(in Rs) PAGE AMOUNT NEWSPAPE R 2 Months 10x10 cm National coverage 400 per sq cm 1 pg/ month 80,000 FASHION MAGAZINE 3 months Full page National level 33000 per page 9 page 29,70,000 SMALL HORDINGS & BOARDS 20 Days Full Board Mumbai, Delhi, Chennai. 2 000 per hording per day 4 hordings 1,60,000 social Net. Sites 1000 views/ $ 2.99 2,99,000 Celebrity Endorsement Contract basis/1.5years 60,26,000 TOTAL 95,35,000

Developing of a Prototype:

Developing of a Prototype Male Wrist Watch

Developmental Processes Involved:

Developmental Processes Involved Selection of an old wrist watch( male) Analysing issues Identifying the need Providing solutions Developing 2D design Developing 3D (Model)

Step 1._ Selection of an old watch:

Step 1._ Selection of an old watch A specific wrist watch model TIMEX INDIGLO to study its design and features and their psychological impact on their consumers. Product : TIMEX INDIGLO

Step 2. _Analyzing Issues:

Step 2. _Analyzing Issues 1.Side buttons on both sides hurt the hand. Since, the watch remains loose upon the wrist, it moves, It moves forward and backward. In that way, these buttons hurt the hand. 2. The close end wrist bands are difficult and time consuming to wear. Also, it makes the wrist watch heavy. 3. The time changing dial is very difficult to operate and takes lots of patience to move and change the time. Also, it becomes difficult for left handers to change the time of the watch. 4. The locking system of the wrist band is quite monotonous. Opening and closing the lock takes a greater efficiency and being cautious.

Solution: Design process (2D) :

Solution: Design process (2D) A wrist watch where the time changing key is replaced by a rotating dial and a MODE button. Flexible Wrist Band

Slide 39:

Adjustable and elongated and flexible band Magnetic lock Mode Button is provided to change between options for time change, backlight, date change etc. Movable Dial (Rotatable)

Design Process (3D).:

Design Process (3D).

Thank You !!!:

Thank You ! ! !

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