By: Sachin Hundekar

The Reincarnation of“HMT WATCHES”

HMT : A Snapshot

• Incorporated in 1953 by GOI as a Machine Tool manufacturing company.

• HMT comprises of 6 subsidiaries under the umbrella of one Holding company:

• Watches• Tractors• Printing Machinery• CNC Machines and Bearings• Metal Forming• Die Casting

HMT WATCHES : Profile

• Watch manufacturing started as a part of the diversification strategy of HMT in 1962.

• First to start Watch manufacturing in India.

• “HMT WATCHES LTD” incorporated on 9th Aug 1999.

• Manufacturing units at Bangalore, Tumkur and Ranibagh.

• Technical collaboration : CITIZEN

Reasons for the downfall

• Primary Product category : Mechanical Watches

• Reliance on “Production Concept”

• Insufficient emphasis on R&D

• Not exploring lifestyle segmentation

• Weak dealership

• Product development meant Quality development

Need for a Re-launch

Titan Timex Citizen Omega Maxima HMT Others05

1015202530354045

43

1712

85 5

10

Series 1

Scope for Re-launch

Necessity Luxury0

102030405060708090

89

11

Series 1

500-1000 1001-5000 5001-10000 10000 & above0

10

20

30

40

50

60

70

21

63

15

1

Series 1

STP Analysis

SEGMENTATION

• Segmentation of market on the basis of age groups between 18 – 35 years

• On the basis of purchasing power

• On the basis of their profession

TARGETING

• Youth

• Kids

• Sports

• Timepass

STP Analysis

POSITIONING

• As a “High Quality” product

• Affordable prices

• As a youth accessory

STP Analysis

Marketing Mix

PRODUCT

• Wrist watches

• Wall Clocks

• Table Clocks

• Other accessories

Marketing Mix

PRICE

SEGMENT PRICE

Youth 699 – 3,999

Ladies 1,499 – 14,999

Kids 249 – 999

Sports 999 – 4,999

Timepass 399 – 3,499

Accessories 249 – 699

Marketing Mix

PLACE

• Intensive marketing strategy employed

• Available in all retail outlets.

• More dealers introduced

Marketing Mix

PROMOTION

• Television & Radio

• Print media

• Displays in shopping malls

• Web & social media

• Hoardings & Billboards

• Sponsorships

Other Strategies

• Tie-ups – D’damas, Archies

• Customization

• Catchy names

• Increasing the distribution network

• Two phase process

Conclusion

• Extensive marketing

• Targeting niche and attractive segments

• More emphasis to R&D and design engineering

• Increasing the dealer network

• Leveraging the brand name of HMT to other personal accessories

Thank You

Any Queries?