MARKETING MANAGEMENT

Submitted to :-Dr. Nirupama Gupta

Submitted by:-Yogita Bangar12LLB085

SCHICK WATCH STORE

“SCHICK WATCH STORE- ELEGANCE REDEFINED”

Marketing Mix

Products

Wrist Watches for men and women

Brands- Titan

Rolex

Omega

Oakley

Seiko

Timex

Watch Accessories

Café lounge in partnership with CCD

Price

Price of Watches varies from 10,000 to 40,00,0000 and no extra charge on packaging or delivery by e-shopping.

Rs. 10,095Titan Raga Analog Watch

Rs. 15,989Seiko Solar Analog Watch

Rs. 5,500Timex Analog Watch

Rs. 35,00,000Rolex Analog Watch

Place

www.schickwatches.com

Market Spaces

Market Places

Promotion

Advertising-through print media in leading newspapers and fashion magazines.

TV Commercials-on all leading channels.

E-promotion through social media like Facebook, twitter etc. and other most visited websites to target youth which is target market for watches.

Direct Marketing-through invitation to potential customers to visit stores via email or calls and other techniques like promotional display of watches.

Membership Cards- Silver Rs. 10,000-50,000

Gold Rs. 50,000- 1,00,000

Platinum Rs 1,00,000 onwards

People

People are a defining factor in a service delivery process, since a service is inseparable from the person providing it therefore we need to train staff for better public dealings Complaints department Servicing and Warranty department Receptionist Sales force Accounting and billing

Physical Environment

The last element in the service marketing mix is a very important element a services are intangible in nature. However, to create a better customer experience tangible elements are also delivered with the service to differentiate in service marketing.

Luxurious interior

CCD

Magazines

Wi-Fi connection

Music

Elegant packaging boxes for watches

Well dressed staff

Process

The process of service delivery is crucial since it ensures that the same standard of service is repeatedly delivered to the customers. All services need to be underpinned by clearly defined and efficient processes. This will avoid confusion and promote a consistent service. In other words processes mean that everybody knows what to do and how to do it.

Speedy delivery of watches in e-shopping.

Payment by new and fast methods including cards and cash payment.

Good way of greeting customers by sales force and ensuring customers are attended.

Strategic Marketing

Market Segmentation

AGE PERCENT OF WATCH BUYERS

PERCENT OF POPULATION

OVER 17

RELATIVE PURCHASE INDEX

18-24 19 13 1.46

25-34 33 19 1.74

35-54 35 40 0.88

55+ 13 29 0.4

We will segment watch market on basis of:• Cities• Lifestyle• Age and gender• Income

Market Targeting

Evaluating market segments on basis of company resources and profitability we are targeting:

• The customers in age group of 18-35 both male and female.

• The customers with income between Rs. 10,00,000 to Rs. 10,00,00,000.

• We will target urban population by opening store in all metro cities.

• We will target people of upper social class and fashion following lifestyle segment of youngsters.

Market Positioning

Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.

“We sell style in a stylish way”

Market Differentiation

Market differentiation means differentiating its offer by building a unique bundle of benefits that appeals to a substantial group within the segment.

• Service differentiation

• Image differentiation

• People differentiation

• Product differentiation

• Channel differentiation

CRM Strategies

CRM strategies to acquire, retain and extend customers are:

Feedback

Membership Cards

Delivering higher value

Potential customer data bank

Differentiating from rivals

Advertising and promoting

Social customer