EXPLORING CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN INDIAN CONTEXT Essay

He had formulated several(prenominal) aspects of grocerying mix strategies in the past to face divers(a) kinds of ch completelyenges. For Chakravarti, any challenge in the tick off industriousness, especially in an emerging market such(prenominal) as India, was something he looked forward to, as it gave him im realize forcese satis occurrenceion when he was able to find some insights. Xylys was a bounty mention blemish launched by behemoth a few years ago the shit was aimed at creating a singular perception among consumers.The challenge was to create and shape a perception unique to the commemorate, since superior watches in India were associated with the Swiss brandmarks Omega and Rolex, or Tag Heuer and other similar brands, which were more contemporaneous in nature. There were several interesting possibilities for Chakravarti to consider. Would a conventional- lieu approach be sufficient? Was it necessary to determine some insights regarding the application of t he uniqueness aspect to the self-perception of consumers?How were such aspects of uniqueness related to other primeed brands? How authorised was the Swiss-made label? Did the buyers and prospective buyers of subvention watches hold any proper(postnominal) stereotypical images of such watches? The case delved into several aspects of the perceptual fields associated with consumer behavior with the target of finding the just ab bug out appropriate approach to further the prospects of the Xylys brand. no.tCThe liberalization of markets, the rising disposable income, exposure to western lifestyles, and the postulate for the saucily times to establish an identity for itself were some of the reasons for the process of the extravagance watch category in India. Consumers were buying non plainly durable categories that were practiceful to them and convenient functional aspects, but as well categories and brands that reflected their disposition. India had 28 states and s scour union territories with a population of 77.42 million urban manseholds.The income levels were categorized as follows 62.7 million ho determinationholds earned up to INR 1,50,000 (Indian Rupees) per annum (1 USD was equivalent to slightly 45 INR), 11.6 million households earned amongst INR 1,50,000 to INR 3,00,000 per annum, and 3.1 million households earned 1more than INR 3,00,000 per annum. With respect to the disbursal of households on top 10 necessities across all 2 classifyes of consumers, watches figured at the eighth position, on an come. The latest McKinsey report on Indias consumer market pegged slip bying on personal merchandises and service necessities (watches were include as the eighth most required item, as described above) at 8% sh atomic number 18-of-wallet (SOW) in 2005 this was anticipate to climb up to 9% 3SOW by 2015, and to 11% SOW by 2020.THE adopt INDUSTRY IN 2011Global1The Marketing White Book 201011 One exclude Guide for Marketers, contrastWorld, New Delhi, 2010, pp. 5254. Ibid., p. 63.3The bird of gold The rise of Indias consumer market, McKinsey Global show, whitethorn 2007, http//www.mckinsey.com/mgi/ military issues/india_consumer_market/images/India_Interactive1.swf, accessed on April 11, 2011.Do2S. Ramesh Kumar and Kasturi Baral prepared this case for class discussion. This case is not intended to mete out as an endorsement, source of primary data, or to show inwardnessive or inefficient handling of finis or business processes.Copy duty 2011 by the Indian plant of anxiety Bangalore. No part of the creationation may be reproduced or transmitted in any form or by any means electronic, mechanical, photocopying, recording, or otherwise (including internet) without the permission of Indian Institute of Management Bangalore.This record is classical for use whole by Arijit Santikary at shibah Sivani Institute of Management until celestial latitude 2013. write or carte du jour is an infraction of copyright. Pe rmissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer perception approximately bounteousness heartes in the Indian Context scallywag 2 of 15rPostA signifi give the gatet decline in the orbiculate production of watches was witnessed in 20052009, with the mountains in 2009 at a fifth of the expected material bodys. 4 This was attributed to the plummeting demand in the recession-hit markets of the United States, Japan, and Europe, among others.The subvention segment suffered the worst, with the exports of Swiss watches dropping by 22% in 2009, despite having risen to an unprecedented spicy the previous year. 5 However, what was inexplicable was that while the rest of the initiation proveeven regular watches un open upable, the exploitation markets of China and India were experiencing growth in consumer demand for luxury and premium watch products.IndiaIn five years, the Indian watch market had grown at an average rate of 8% per annum. 6 The recession during 200 8 2009 hindered the areas growth, with a drop in the sales of luxury and premium watches, which was compensated by the growth of volume in the economy segment. 7 Thus, despite the global trends, the value and volume figures for 2009 stood at 40.6 peerless million million units and INR 54.6 billion, with a growth of 8.5 and 15.4% in volume and value, respectively. 8opyoIn terms of category sales, the highest share, as per value, baffling watches priced among INR 500 and 3,000. The premium segmentretailed between INR 4,000 and 15,000had been growing at an exponential rate of 20% annually. 9Low per capita consumption on the one hand and the growing demand for luxury watches on the other constituted the factors that forecast the compounded annual growth rates of 7.3% and 13.7% in volume and value, respectively, for the result 20092014. 10INDIAN WATCH INDUSTRYHistorical PerspectivetCThe Indian watch effort had its origins in the 1960s, with HMTs Janata universe launched in 1962. Before HMT, watches were sourced maxly from trades, and could be afforded by except a small number of consumers. HMT was the original major watch manufacturer in India, and the sole innate role player,until giant star Industries Limiteda Tata and TIDCO joint venturewas formed in 1984, and started retailing watches in 1987.monster, with its focus on satisfying the nodes unspoken needs, gradually wrested market power and shares from HMT and became the undisputed draw in the wristwatch segment over the last one-third decades. The altogether other major Indian player was P. A. Time, with its brand Maxima, which do itd to survive despite fierce competition. Other indigenous brands such as Allwyn, Shivaki, and SITCO failed to keep up with Titan and languished, with marginal to negligible market shares.NoIn 1992, liberalization opened up the Indian market to foreign players, and Timex was the first on the scene. It was soon followed by Casio, Rolex, Citizen, Tissot, Omega, Rad o, and TAG Heuer (the virgin exportimport (EXIM) policy introduced in 1999 relaxed the hitherto stiff upper bar on imports of luxury wristwatch brands). aft(prenominal) the foreign direct regulations were changed by the government to allow up to 51% of foreign direct investment funds in single-brand retail operations, global brands set up subsidiaries in India with apparel brands such as Esprit, Tommy Hilfiger, Benetton, and Levis, also launching brands of their own.Growth of IndustryDoThe Indian watch industry began in the 1960s with the public sector enterprise HMT, which was the governments initiative to start the indigenous manufacture of watches. The import industry brought in the more fashionable watches, but the basic need for erakeeping was satisfied by the sturdy and secure mechanical wristwatch models4Watches in India, Country report,http//www.euromonitor.com/watches-in-india/report, accessed on July 22, 2011. Ibid.6Ibid.7Ibid.8Ibid.9Ibid.10Ibid.5This document is rece ived for use only by Arijit Santikary at Siva Sivani Institute of Management until celestial latitude 2013. Copying or posting is an ravishment of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer comprehension close to(predicate) subsidy Watches in the Indian ContextPage 3 of 15rPostmanufactured by HMT. In the absence of other brands, HMT could afford to retain justwill despite offering limited styling and choices to its customers. A few decades earlier (when HMT held a monopoly in the category), a watch was a product that anyone who had taken up a job aspired for. Traditionally, the penetration levels were quite an low during this time the notion of a watch for the masses was diffused in the psyche of consumers only after the late eighties, when the country witnessed major lifestyle changes. The nineties enhanced this perception as many brands entered themarket following the liberalization of governmental policies.The Tata group introduced the q uartz watch in the 1980s at a humble place the Titan brand, and differentiated themselves on the basis of accuracy, style, choice, presentation, and vigorous push-marketing. 11 Timex, in collaboration with Titan, launched its throw up in India in the nineties, with a mutual understanding that the former would keep to the low-price plastic segment, while the latter would manage the high-price metal segment.Timex positioned itself with the tagline You dont baffle to be rich to afford a Timex, and was well veritable by the market. After a few years, Timex became an independent brand and set up its own dissemination channels, and emerged as a brand associated with the sports and casual wear segment.opyoEarly in the twentieth century, many transnational players entered the market, which was made possible by the EXIM policies that raised the bar on the import of luxury watches in India.AN OVERVIEW OF THE ambitionThe single largest player was Titan, with a brand share of 20.6% in 20 09. 12 The next player worthy mentioning was Swatch, with a relatively small share of 5.9%. 13 Timex was a relatively strong multinational brand in the market. Rolex, PA Time, Citizen, and Casio had small significant shares, and HMT was also present in the Indian market.Despite the posture of many brands, the market was still in the main controlled by the unorganized sector (to the tune of 65%) even in 2009. The present competition arose from the increasing foray of multinational players into the lucrative luxury segment however, the touchable challenge was to tackle the spurious imports creation sold by the unorganized sector.tCWatches transformed from time keeping instruments to fashion accessoriesduring the eighties and nineties owing to significant lifestyle changes this was reflected in some of Titans advertisements. Watches as fashion accessories were in competition with a variety of other products such as apparel and fashion handbags hence, watches had to keep a clearly differentiated element of perceived utility asunder from fashion. 14SEGMENTATION OF THE WATCH MARKETThe watch industry could be segmented according to various criteria engine room, benefit, and price.NoWatches could be classified into three kinds based on technology mechanical, quartz analog, and quartz digital. The first went out of vogue since the bulky mechanical format did not allow for elegant radiation pattern it dropped in volume shares from 7.2% in 2004 to 4.6% in 2009. The second kind was the largest in both value and volume, and was expected to stay the market driver for growth in 20092014.Digital watches suffered from the consumer perception of being low cost and deficient in style, and hence, the market for them had not yet picked up. The sales figures by value for these sub-sectors for 2009 were INR 3,000, 46,000, and 6,000 million, respectively. The major market players in these three sectors were HMT, Titan, and Casio, respectively.DoThe second basis of classifi cation was benefit, and the market could be change integrity based on use, namely, casual, formal, and sports. Many of the brands offered some options in all three segments, but most catered only to the first two segments the sports segment remained a largely untapped segment. Nearly 35% of all watches retailed were casual, 60% were formal, and a unmingled 5% belonged to the sports segment.11The Titan Story, http//www.titanworld.com/titan_stories, accessed on November 29, 2010. Watches in India, Country report, http//www.euromonitor.com/watches-in-india/report, accessed on July 22, 2011. 13Ibid.14Ibid.12This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until celestial latitude 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextPage 4 of 15rPostThe watch market could be classified into economy, standard, premium, and luxury segments. 15 The mass market (i.e., the economy segment) accounted for nearly 67% of volume and 50% of value shares, and was catered to about entirely by the unorganized sector. Popular (standard), with prices ranging from INR 500 to 1,200, was the lowest range offered by the organized sector (Titan and Timex, primarily).The premium segment consisted of watches in the INR 1,5005,000 range, offered by almost all the indigenous and multinational brands. The demand from the middle and upper income groups promised to be the growth driver for this segment in 20092014.opyoA better explanation in terms of consumer behavior was the third basis of segmentation as delimitate by Yankelovich (1964). 16 He presented a scheme for the non-demographic segmentation of various product categories, including watches. Segmentation by value was considered to be particularly apt for this market. Thus, the authors arrived at three distinct segments, severally offering the customer a different benefit and value than the others.As was stated earlier, the watch had always been a product that petitioned to people, but the nature of the appeal and the associations related to watches changed with the changing environment. A watch or a specific brand in particular became a symbol of several associations that were in tune with the changing environment. These associations were primarily glamour, fashion, sports, and fun, and the intensity of these associations became pronounced depending on the respective segment toward which a brand was positioned.Lifecycle stages also mattereda school day student would celebrate his/her first watch with neighbors and friends, a college student would garner attention among his/her friends with a recently bought watch, and an young executive who had been winnerful in his job might reward himself with a premium watch after a few years of hard work, and also announce his arrival into a world of success to the outside world.Value for money Low/regular-priced watches that were accurate and sturdy. Owners tended to replace these when they failed.Premium watches High-priced watches, with guarantee longevity, excellent workmanship, and proficient styling. Owners were ready to pay a premium for the benefits that accompanied these brands. Special watches Extra benefits such as fine styling, brand name, and accessories (such as gold casings) were desired by authority customers. The watch, apart from being a fashion accessory, was part of a ritual gifting ceremony, and needed to encapsulate the emotional benefits required to succeed.NotC exemplary and lifestyle categories that were created in the last 20 years or so include apparel, watches, mobile phones, portable medical specialty players such as iPods, cars, televisions, two-wheelers, and spectacles, to name a few socially featured product categories brands made use of such psychological needs of consumers to position themselves, with one category a good deal c ompeting with some other.For example, a typical middle class household in India that had bought a TV (it is a well-observed fact that a TV is generally high on the purchase agenda of a middle class family) on installment basis (the installment plan allows a consumer to pay for the purchased product over a period of time through monthly payments to the seller/retailer) might postpone buying a spic-and-span watch for a student in the family who was entering college, owing to financial pressures.Such instances would be antiquated in a developed market, especially with regard to the purchase of a watch. It was interesting to note that the lower end offerings (relatively lower end to be precise, when compared to the price of luxury watch brands) from brands such as Titan also used glamour, romance, and celebrity orientation for the localization strategies of several of its brands (such as Titan, Fastrack, Sonata, and Ragaa). Titan was a attraction in the organized quartz analog watc h segment, and millions of pieces had been sold over the years.It was interesting to note that careless(predicate) of the price range or the benefit, watches held a typic appeal in the Indian contextan appeal that could be associated with the self-perception or the genius/style a consumer would like to project to the outside world. Luxury watches had a special appeal with regard to such an orientation among consumers.DoThe watch market in India was divided into three broad segments mass market(price to a lower place INR 1,000), midmarket (price between INR 1,000 and INR 10,000), and premium market (price starting at INR 10,000). Luxury watches in turn, were categorized into three sub-segments1516Ibid.Yankelovich, D., New Criteria for Market Segmentation, Harvard Business Review, March/April 1964.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshb sp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian Context2.3.Premium watches INR 10,00050,000. This was the space where Xylys operated. The other prominent brands in this space were Tissot, Seiko, and Citizen, in gain to fashion brands such as Emporio Armani and Hugo Boss.Accessible Luxury INR 50,0003,00,000. The biggest Swiss brands such as Rolex, Omega, Longines, and Tag Heuer operated in this space.Exclusive Luxury INR 3,00,000 and above. Very high-end brands such as Breguet, Patek Philippe, Audemars Piguet, Breitling, and Hub circumstances populated this segment.rPost1.Page 5 of 15From the point of view of look, there were four philosophies from which brands tended to choose and occupy, namely, dress, classical, fashion, and sport. For example, among sporty watches, Tissot, Tag Heuer, and Breitling were the brands in the premium, accessible, and exclusive luxury sub-segments, respectively.LUXURY BRANDSopyoThe market for luxur y watches was estimated to be 3% of watch retail, and was growing at almost 20% annually, which was more than twice the growth rate of the entire market. 17 Luxury brands were priced above INR 15,000, and primarily included imported brands offered by multinational players, such as Omega, Rado, Longines, Tag Heuer, and Tissot. Titan was the only Indian brand in this sector currently, with Xylys at the luxury end of its portfolio. Personal interviews with some managers at retail outlets suggested that the competition to the Xylys brand was from established brands such as Seiko and Tissot. 18The main consumer of luxury brands was the new generation executive, who was set to move toward the prime of his/her career, and who had a keen sense of brand consciousness. These included an increasing number of young and middle-aged professionals in the upper strata of management in corporate houses, and also Indians who belonged to the higher socio-economic strata and had a penchant for luxury p roducts. The major consumers of watches in the luxury segment included CEOs and senior professionals in their thirty-something and forties, new generation entrepreneurs, and young working professionals.tCSuccessful brands sold because they positioned themselves based on the benefits they offered to those who own them such benefits could be functional, symbolic, or experiential. 19 sucker concept management 20 stated that for semipermanent success, the brand image needed to be based on a brand-specific abstract concept. The authors felt that such an orientation would help the long-term plans of luxury watch brands.NoFunctional brands provided tangible and practical benefits, and satisfied the existent need for the product. Brands needed to necessarily satisfy functional needs, since these were the hygiene factors for acceptance in this category. Symbolic brands, on the other hand, catered to the consumers preference for brands that matched their own selfconcept 21 and their symbol ic needs for self- pointion, prestige, and the enhancement of self-image and sense of belonging. existential brands satisfied the owners need to experience sensory pleasure, variety, or cognitive simulation.Luxury watches were bought for their symbolic and experiential benefits as opposed to their functional ones. The selling points were the status and sophistication that the brand denoted when worn by the owner although aesthetic appeal and durability were important, precision and price were not.DoHence, the positioning diagrams for luxury watches would need to be based on factors such as status, prestige, and ego gratification.The methodology was derived from earlier studies on the positioning of brands. 22 Three sets of questionnaires were used to record the respondents opinions on brands, adjectives and phrases related to brand symbolism, and more indepth queries regarding the characteristics of brands and their exploiters. 17Watch industry in India to grow at 9%, India Infolin e News Service,February 5, 2010. Interviews with Viraj, Branch Manager, World of Titan at Brigade Road, Bangalore and Saumya, Branch In-charge, Titan (multi-brand outlet) outlet at Jayanagar 4th Block, Bangalore.19Park, C. W., Jaworski, B. J., & MacInnis, D. J., Strategic Brand concept Image Management, Journal of Marketing, Vol. 50, October 1986, pp. 135145.20Ibid.21Malhotra N. K., Self Concept and Product excerption An Integrated Perspective, Journal of Economic Psychology, Vol. 9, 1988, pp. 128. 22Bhat, S., & Reddy, S. K., Symbolic and Functional Positioning of Brands, Journal of Consumer Marketing, Vol. 15, No. 1, 1998, pp. 3243. 18This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextrPostMETHODOLOGYPage 6 of 15The objective of the try o ut was to analyze and link several aspects of consumer behavior, and to compare users and non-users of premium watches. Three sets of questions were prepared. One set of questions dealt with the selfconcepts of consumers, another was about the brand personality aspects of their watches, and the last set of questions was related to thepsychographics of individual respondents. Non-users were respondents who were potential buyers of premium watches in the near future. Scales were drawn from several resources available in the extant literature. 23Forty current users of premium watches and forty potential users (prospective buyers) of premium watches were administered the questionnaire in April, 2011 in Bangalore, India.opyoExhibits 1, 2, and 3 were associated with self-concept, brand preferences along with personality traits, and the activities, interests, and opinions (AIO) of potential users of premium watch brands. Exhibits 4, 5, and 6 dealt with the same factors of the present users of premium watch brands (self-concept, brand preferences along with personality traits, and AIO).The description of the positioning strategies of the various brands presented below is based on the authors perception of the advertisements of the respective brands.XYLYSXylys was a premium Swiss-made watch brand from the house of Titan in India. Priced between INR 10,000 and INR 33,000, the Xylys range of watches was available in three collectionsContemporary, Classic, and Sportand offered over 60 distinctive models. Xylys was available at select World of Titan showrooms, bring out multi-brand outlets, and at exclusive 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, felt that the upper end of their target customers was moving towards iconic global premiumbrands.The designs were created in collaboration with renowned Swiss designer Laurent Rufenacht, and Titans ow n design advisor, Michael Foley. It was manufactured in a state-of-the-art factory in Switzerland, which had a heritage of over 80 years in the art of watch-making. All Xylys watches were created with exquisite craftsmanship and impeccable detailing, were painstakingly made from cautiously selected materials, and were crafted with a passion for detail.NoWhile carefully analyzing the consumer behavior of customers of premium watch brands, Titan found that consumers were highly influenced by the country of origin association. Consumers loved the Swiss-made tag, and there was a huge association of quality, precision, premium, and so forth with this tag. The insight was that it would be difficult for an Indian-made tag to impress the target segment.DoThe name Xylys was designed to dedicate only two syllables, a distinctive name in itself. The brand charter aimed to convey style, attitude, and power. Xylys was created for new generation achievers who went beyond the obvious. Xylys refle cted their value, attitudes, and unique personal identities. The brand was targeted at todays people, both men and women, who were supremely confident and conscious of the image they projected.These individuals actively sought new and unconventional experiences. Xylys, with its unique positioning of the Power of X, underlined the power of ones attitude. This attitude stemmed from a persons self-belief, which enabled one to achieve success through a passionate pursuit of ones dreams. Xylys was launched as a contemporary brand targeting upwardly mobile, prospered men and women. The brand segmented the market based on psychographic profiles. 23Tian, K. T., Bearden, W. O., & Hunter, G. L., Consumers Need forUniqueness Scale Development and Validation, Journal of Consumer Research, June 28, 2001, pp. 5066 Netemeyer R. G., Burton, S., & Lichtenstein, D. R., Trait aspects of amour propre Measurement and Relevance to Consumer Behavior, Journal of Consumer Research, 21, March 1995 Schiffma n, L. G., Kanuk, L. L., & Ramesh Kumar, S., Consumer Behavior, 10th Ed, Pearson Education, p. 143.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextPage 7 of 15rPostXylys defined its customers as contemporary, dynamic, successful people who had attitude and confidence. The brand wanted to celebrate their success with them. The customers of Xylys were highly individualistic persons who did what they loved. These people would love to express themselves and show their success to the world.The three brand ambassadors of Xylys came from change fields and represented the attitude of the new generation achievers. Actor Rahul Bose (ad), international supermodel Saira Mohan (ad), and tennis star Carlos Moya bodied the attitude of living life fearle ssly on their own terms, with a passion to pursue their dreams. speech production at the launch, brand ambassador Rahul Bose said, Like e really movie I choose to be a part of, I have chosen to endorse this brand after careful thought. I can only support those products that I am fully convinced about. It is an exciting new brand from Indias leading watchmaker with an identity that reflects the attitude and values that I consider importantbold, unconventional, and distinctive.In 2010, the brand changed its positioning from Symbol of Success to Feeling of Love. The brand talked about falling in love with Xylys. Xylys ran a attempt reflecting the new positioning, which was a significant deviation from the core positioning of the brand. The entire brand personality of Xylys was changed in the current campaign.opyoThe new identity reflected the attitude, lifestyle, and personality of the new generation consumer. You dont possess a Xylys, it possesses you this reflected irrational desira bility of the brand. The new creative expression was carefully designed to reflect the effect Xylys watches had on their consumers. It was this aspect that created an irrational desire to own the watch, strongly backed by the rational reasons, namely, that Xylys came from the house of Titan and was Swiss-made.After the launch in 2006, the brand saw the volume of sales doubling between 20062007 and 20072008, and sales grew at about 33% since then. In terms of value, Xylys grew at a compound annual growth rate) of 54%. Exhibit 7 displays an Xylys advertisement.TISSOTtCTissot, with its signature Innovators by Tradition, pioneered craftsmanship and innovation since its innovation in 1853. Tissot was a member of the Swatch Group, the worlds largest watch producer and distributor. For over 155 years, the family had its home in the Swiss watch-making town of Le Locle in the Jura Mountains, and in 2011 had a presence in over 150 countries.As official timekeeper and partner of the Internat ional BasketballFederation, the Australian football League, the Chinese Basketball Association, and MotoGP, and the World Championships of cycling, fencing, and ice hockey Tissot was committed to respecting tradition, underlining its core values of performance, precision, and setting new standards.NoThe different collections of Tissot included tactility, Sport, Trend, Classic, Gold, Pocket, and Heritage and the price spectrum was much wider than that of Xylys, covering both the affordable luxury and the premium luxury segment with ease.The Indian brand ambassador for Tissot was movie star Deepika Padukone, daughter 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 personality and the Tissot brand were captured in the brands advertisements We are both adventurous, sophisticated and classy, yet very approachable.DoTissots subsequent advertising campaign revolve d around the theme In Touch with Your Time. In its revolutionary new global campaign based on this theme, Tissot used a serial publication of executions featuring brand ambassadors who presented luxury as being accessible rather than exclusive. The brand attributed its success to the trust customers all over the world had in the quality and pleasure offered by Tissot timepieces.Millions of wearers evidently refused to compromise, and the campaign specifically congratulated them on their discerning selection of a stylish Swiss-made watch. The campaigns approach focused on the inclination of substance (the unquestionable quality attached to traditional Swiss craftsmanship) and style (a truly appealing watch design).This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is aninfringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextPage 8 of 15rPostThe new global Tissot campaign captured real moments in the lives of its ambassadors where reality seamlessly merged with glamour. A variety of locations that were local to the ambassadors (e.g., Deepika Padukone in Mumbai, India) were used for the shoots, which enhanced the campaigns integral authenticity.SEIKODoNotCopyoSEIKO Watch India Private Limited is a vitamin C% subsidiary of SEIKO Watch Corporation, Japan set up in 2007 it is headquartered in Bangalore. Over the years, SEIKO has established its leaders position in a number of countries. Backed by such experiences and with India being one of the prioritized markets, the brand is expected to bring its total SEIKO brand experience through its flagship stores that will also provide good customer service.24 The brand is available at several higher-endmulti-branded watch outlets in the country. SEIKOs technical development is focused on the creation of emotional technologies 25. While the b rand may be positioned below Tissot or Xylys (based on the observation of price points at retail outlets by one of the authors), the brand is probably to be perceived as a brand with strong value given 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 document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Exhibit 1Page 9 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextSelf-concept (Potential users of premium watch brands)I would feel embarrassed if I was around people and did not look my best.3.775It is important that I always look good.3.275People peak how attractive I am.3.675My looks are very appealing to others.I want others to look up to me b ecause of my accomplishments.3.0753.0754.15Achieving great success than my peers is important to me.3.475opyoI am more relate about professional success than most people I know.3.575In a professional sense, I am a very successful person.3.825My achievements are highly regarded by others.3.4Others wish they were as successful as me.3.675I am a good example of professional success.3.25I a good deal look for unique products or brands so that I create a style that is all my own.3.225The products and brands that I like best are the ones that express my individuality.3tCI want my achievements to be recognized by others.3.375I enjoy contend the dominate taste of people I know by buying something radical.2.95I often recall of the things I buy and do in terms of how I can use them to shape a more unusual personal image.3.05NoI rarely act according to what others think are the right things to buy.When a product I own becomes popular among the general population, I use it less.2.625Conce rn for being out of place does not prevent me from wearing what I want to.2.85Source The results were based on the questionnaires administered to users and non-users of premium watch brands.DoNote The statements were deliberate on a Likert scale ranging from strongly scoff to Strongly Disagree for each respondent, and the values were coded as Strongly total = 5, jeer = 4, Neither Agree nor Disagree = 3, Disagree = 2, and Strongly Disagree = 1. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Exhibit 2Page 10 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextBrand and user personality (Potential users of premium watch brands)Brand FactorsUser Factors3.525Up-to-date3.525Reliable4.075Reliable4.125gross3.65D own-to-earth4Honest3.8Honest3.85 validity3.125DaringSpirited3.775 enkindle3.625Imaginative3.7Successful3.825 upper berth class3.325Tough3.2opyoUp-to-date3.83.675Exciting4.05Imaginative3.975Successful3.625Upper class3.5Tough3.5tCSpiritedSource The results were based on questionnaires administered to users and non-users of premium watch brands.DoNoNote The statements were measured on a Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1) for each respondent. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.XYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextPage 11 of 15rPostExhibit 3Activities, interests, and opinions (Potential users of premium watch brands) When I must choose between the two, I unremar kably dress for fashion, not for comfort.3.25I try to gear up my home for my childrens convenience.2.975I take a lot of time and effort to teach my children good habits. I like parties where there is lots of music and conversation. I would rather go to a neat event than a movie.I like to work on community projects.2.853.0753.4253.43.7I think I have more self-confidence than most people.2.55I am more independent than most people.3.725I think I have a lot of personal ability.3.8I like to be considered a leader.3.95opyoI have in person worked in a political campaign, or for a candidate, or for an issue.3.7I sometimes influence what my friends buy.3.85People come to me more often than I go to them for information about brands.3.5tCMy friends or neighbors often come to me for advice.3.25I spend a lot of time public lecture with my friends about products and brands.3.575I would like to spend a year in London or Paris.3.175I would like to take a detonate around the world.3.825I will ha ve more money to spend next year than I have now.4.375I spend more than an hour everyday reading the newspaper or watching the news.4.025I like to meticulously plan for future savings and expenditures.3.175NoI often seek out the advice of my friends regarding which brand to buy.DoSource The results were based on questionnaires administered to users and non-users of premium watch brands. Note The statements were measured on a Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1) for each respondent. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Exhibit 4Page 12 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextSelf-concept (Present users of premium watch brands)I would feel embarrassed if I was around people and did not look my best. It is important that I always look good.People notice how attractive I am.3.3253.753.45My looks are very appealing to others.I want others to look up to me because of my accomplishments.I am more concerned 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 successful person.3.4253.653.753.9254.2253.65My achievements are highly regarded by others.3.6Others wish they were as successful 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 individuality.3.325tCI often look for unique products or brands so that I create a style that is all my own.I rarely act according to what others think are the right things to buy.2.752.925I often think of the things I buy and do in terms of how I can use them to shape a more unusual personal image.3NoI enjoy challenging the prevailing taste of people I know by buying something radical.When a product I own becomes popular among the general population, I use it less. Concern for being out of place does not prevent me from wearing what I want to.2.8253.2Source The results were based on questionnaires administered to users and non-users of premium watch brands.DoNote The statements were measured on a Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1) for each respondent. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Exhibit 5Page 13 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextBrand and user personality (Present users of premium watch brands) Brand FactorsUser Fact orsUp-to-date3.775Up-to-dateReliable4.275Reliable3.84.0253.35Down-to-earthHonest3.95Honest3.925Daring3.6Daring3.675Spirited3.75Exciting3.95Imaginative3.925Successful4.125Upper class3.975Tough3.9753.65opyoDown-to-earthSpirited3.875Exciting3.9Imaginative3.6SuccessfulUpper classTough3.7253.73.625tCSource The results were based on questionnaires administered to users and non-users of premium watch brands.DoNoNote The statements were measured on a Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1) for each respondent. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Page 14 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the IndianContextExhibit 6Attitudes, interests, and opinions (Present users of premium watc h brands) When I must choose between the two, I usually dress for fashion, not for comfort.2.775I try to arrange my home for my childrens convenience.3.725I take a lot of time and effort to teach my children good habits. I like parties where there is lots of music and conversation. I would rather go to a sporting event than a movie.opyoI like to work on community 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-confidence than most people.3.625I am more independent than most people.3.975I think 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.People come to me more often than I go to them for information about brands.3.753.3253.32.95I spend a lot of time talking with my friends about products and brands.2.875I would like to spend a year in London or Paris.3.175NoI ofte n seek out the advice of my friends regarding which brand to buy.I would like to take a trip around the world.I will have more money to spend next year than I have now.4.23.9253.75I like to meticulously plan for future savings and expenditures.3.65DoI spend more than an hour everyday reading the newspaper or watching the news.Source The results were based on questionnaires administered to users and non-users of premium watch brands.Note The statements were measured on a Likert scale ranging from Strongly Agree (5) to Strongly Disagree (1) for each respondent. The mean values were the average of the same across all the respondents.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.Page 15 of 15rPostXYLYS Exploring Consumer Perception about Premium Watches in the Indian ContextExhibit 7DoNotCopyoadvertizing for XylysThe a uthors would like to thank Mr. Manoj Chakravarti, Senior Advisor, Ms. Superna Mitra, Head, Global Marketing, Titan Industries Limited and Prof. Dinesh Kumar, Chairperson, Research & Publications, IIM, Bangalore for the support provided to this case study initiative.This document is authorized for use only by Arijit Santikary at Siva Sivani Institute of Management until December 2013. Copying or posting is an infringement of copyright. Permissionshbsp.harvard.edu or 617.783.7860.