Revitalization of HMT

7/29/2019 Revitalization of HMT

1/13

REASONS FOR LOSS OF INTEREST

As per the survey, the following points have been attributed to the reasons for loss of interest in

HMT watches:

Better competitor brands available in the market Lack of style/design Lack of awareness Perceived as an old mans watch Non-use of quartz No added benefits regarding functionality


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BRAND REVITALIZATION STRATEGIES FOR HMT

WATCHES

Proposed Marketing Mix

SEGMENT

(DEMOGRAPHY)

BRAND APPEAL FOR

PRODUCT

PRICE

Low EndRugged, basic time function, mechanical

or quartz, water resistance steel and gold

make

Rs. 300 1,000

Mid UpperAutomatic, steel or gold make,

quartz/analogue, water resistance and rich

looks

Rs. 1,000 3,000

Urban YouthTrendy, attractive, stylish, water

resistance and colorful Rs. 1,000 5,000

Executive/AchieversAutomatic, multifunctional, quartz,

digital, water resistance, gold and jeweledRs. 5,000

30,000

AffluentClassy and customized, Jeweled,

automatic, gold, platinumRs. => 30,000


3/13

HMT COMMUNICATION MIX

HMT mechanical watches are at the decline stage of their PLC while quartz watches are

currently at the growth stage.

One voice One Message: Timekeepers to the Nation which in a way means that HMT cares for

its customers and is responsible to India.

I. ADVERTISING

1. Broadcasting Ads

TV ads should touch upon emotional side of consumers. HMT always known as a brand

of common people and always taken by Indian audience as a brand that is approachable and trust

worth. Ad should project that HMT is foraam aadmiof India and hence build relation with

Indian consumer as a caring brand.

Existing:

In the previous commercials of HMT, it used to have very formal and staid look with the age-old

designs being flayed.

Proposed:

Since Indian middle class is growing fiancially and getting more and more aspirational, ad

campaign should focus on independent and aspiring dimensions of its audience. Also, HMT willneed to focus on touching emotional sentiments of Indian audience and come up with emotional

ads featuring Indian middle class and targeting their strengths and adding to it. Radio ads can be

aired on special slots such as morning/evening and on weekends/holidays.

2. Print Ads Existing:

Not encountered any ad for HMT watches.

Proposed:Ads of products in local news papers like Sakaal in Maharashtra, Hindi newspapers in north, The

Hindu in Tamil Naidu, Enaadu in A.P. etc. Popular entertainment and lifestyle magazines like

India Today, Outlook, Manohar Kahaaniyan, Femina etc. can also be used. Also, to infuse liking

for the HMT brand at an early stage, ads should be given in kids magazines like Champak. HMT

should come up with print ad for its target audience and showing them how closely brand is

associated with them.


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3. Packaging

As in case of display devices packaging need not be so attractive but an Indian mindset seeks to

derive value from packaging also. Hence, packaging should be such that the customer feels

proud to show it to others. Also, the case should be of some utility to the Indian consumer; e.g.

keeping something precious or memorable.

Existing:

The packaging is very dull & ineffective and reflects an ordinary product.

Proposed:

Packaging should be made more attractive with coloured logo on the box. It should also be

simple and easy for customer to take out the product.

It should be convenient in transportation, Indians dont wear watch always. It shouldprovide safety to the watch.

It must convey the message of the brand that wearing HMT watches makes its consumersconfident and assured.

4. Brochures and Booklets

Brochure should be designed with contents that are helpful to customer to understand theproduct better

It should be clear and concise. User guide should be written in simple language It should contain images of product to show its usability to the customer Booklets should also provide details of the various features It should be multilingual, so that a relatively less educated person can read and

understand the instructions and product features easily.

Leaflets

Provide in brief, details about the product and its features. Should be in sync with colour combination of brand main colours. Should be available at all distributors and HMT retail shops.


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Give these to people who visit these shops even they didnt purchases watches, just toallow more interaction with brand.


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5. Billboards

Billboard, danglers and cut-outs should be placed at all strategic locations especially on the

busiest routes of city, near the bus stops, railway stations, places where common man goese.g.,

circus, nukkad, cinema halls, haats, city market entrance etc.

HMT can even tie-up with Indian Railways to provide display of time at some of its most

crowded Railway Stations. This will help the HMT brand to remind the older generation about

its great watches and to make younger people familiar with the brand. Time is of essence to

people there and presence of HMT will enforce that it is a considerate brand for the common

man.

Navy blue/ Maroon colour with silver shades should be used to project the new, energetic image

of HMT brand.

6. Point of purchase displays

Point of purchase displays would be a very important part of IMC strategy since a gooddisplay would be the minimum expected to attract customers towards the brand.

The display style should be similar in all the stores (distributors & HMT showrooms) The look and feel of display should match with the aesthetic of the model that we are

planning to launch

Displays should also be very attractive and give a feel of probable feel of product tocustomers if they bought it.

7. Symbols

HMT already have symbol that is familiar to Indians; so we dont need to modify it or change it.

However, consistency must be maintained across all models in the colour and usage of HMTsymbol. It should appear at every place where a customer can connect with the brand.


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II. SALES PROMOTIONS

Following tools can be used for sales promotion:

1. Contest, Games & Lucky Draws

With the launch of new product company should come up with contest like small quiz etc.

There can be lucky draw coupons with each product sale.

During festival seasons, these contests should be publicized in ad campaigns.

2. Gifts

Surprise gifts can be sent as courier after the sale actually happened. This type of gift distributionhelp to strengthen the brand message communication that HMT is an honest and considerate

brand which cares for its customers. This may not help in direct increase of sale but will help to

build brand loyalty and word- of- mouth publicity.

3. Road Shows and Fairs

Road show and fair are the place where customer gets a chance to interact with the product and

they start forming opinion from there on.

4. Demonstration

a) People going to offices, working in factories, students etc. can be our prospective customers.

Demo vans should be built and these products can be taken to target groups that they can have a

look on it.

b) Also, demo should convey the sense of pride of having HMT watches in their wrists.

5. Special Discounts/ Rebates

a) Company can give special rebate to senior citizens, old customers who had worn HMT

watches earlier. This will help to trigger a feeling of nostalgia among all those who had used

HMT watches earlier. Also, reminding them again that HMT cares for them. Also, rebate can be

given to defense personals and attractive offers to lower end segments.

b) Special discounts can be given during festive seasons and wedding seasons.


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6. Continuity programs

This type of communication may be very useful to increase brand usage. Since most of theolder

generation consumer would have still preserved their old HMT watches, we should promptthem

to buy New HMT watch by replacing their old watch (which they are not using currently) .By

offering articles (FREE) such as diary, calendar, relevant booklets etc. with the new watches can

help us retain old customers.


9/13

III. EVENTS & EXPERIENCES

This communication medium will help in building brand association and awareness in consumer.

1. Sports

Sports have a huge fan following in India and every brand has benefitted being attached to it. I

suggest HMT to get associated with Cricket events such as World Cup, IPL etc. because of the

strong appeal of game with Indians. Having HMT logo on Score Board, HMT timeouts, HMT

breaks etc. may help in brand awareness.

2. Celebrity Endorsement (Proposed)

HMT should sign a famous player to stress on its elements of honesty, leadership and care for its

customers. In my opinion, they should rope in Sachin Tendulkar to endorse their watches. Thiswould give immense face-lift to brand and new-generation will readily find HMT brand.

3. Entertainment

HMT can also gain mass appeal by being associated with events like Star Nights, Kaun Banega

Crorepati (KBC), Commonwealth Games, World Cup Cricket (2011) etc. HMT can give free

passes for these events to customers who buy HMT watches. This again shows HMT cares for it

consumers. HMT can associate with channels like DD 1, Aaj Tak, Sahara TV, Star etc.

4. Festival

As Indian consumer spend more during festival so HMT need to increase its availability and

visibility of products during festivals. During Festival like Diwali, Id, Ganesh Puja, Chrismas

etc; HMT Shops need to be decorated in sync with festival atmosphere. This will help HMT

communicate with its customers that BRAND is with them always and it shares their happiness

and prosperity.


10/13

IV. PUBLIC RELATIONS & PUBLICITY

1. Press kits

There is nothing like an independent (& unbiased) source like press appreciates yourbrand.

Before launch of any model, press should be invited and be briefed about the newfeatures of product. Also, they should be told how HMT is striving to serve India and

HMT would like to be a companion for life for the common public.

Also, a sample can be installed at office cafeteria of some popular newspaper to getpublicity.

Press reporters can be called to manufacturing unit and shown high quality productionand quality facility there. Also, new designs should be shown to them. They then publish

all this in newspaper, helping company to gain acceptance from lost customers.

Various senior leaders of company like marketing head should keep meeting pressregularly giving their opinion on different issues and use that forum to discuss about new

products/models also.

2. Seminars

Value of time should be stressed upon and then the role of HMT in keeping time. HMT should

also look forward to support seminar related to emerging technologies to live up with its

personality of being technology leader.

3. Publications

HMT can come up with a monthly newsletter telling what extra can be done in the field

of watches. HMT can motivate its R & D people to write about their upcoming models of

watches in these editions. Also, these publications should cover emerging trends so that even life

style oriented customers find it interesting.

4. Community relationship

It makes sense for HMT to support events like Literacy Missions, Computer Education,Welfare programs, etc. Donate few free samples of industrial brands in government schools, hospitals. All this will again show that company cares foraam aadmi.


11/13

VII. DIRECT & INTERACTIVE MARKETING

1. Catalogs

HMT can build a database of its customers and catalogue of its products can be mailed to them

depending on the chances when we feel that that consumer will buy a new product.

e.g. Suppose a customer which is newly married couple building a new home bought are

frigate the next expected buy for them is washing do we can send them catalogs of various

models and available feature of our product. By this we will bring our product in the awareness

set of our prospective consumers.

2. Mailings

If company builds data base of its customers, regular mails can be sent to them about newmodels launches. They may not buy a second watch themselves but they may recommend that to

someone who is close to them and considering to buy a watch.

3. Telemarketing

SMSs can be sent to prospective customers about new schemes and new products. SMS would

be much better than giving calling customers as it wont interrupt in their privacy.

4. Electronic shopping

HMT needs to develop this channel so that customers can weigh their options against a variety of

models. This mode might help HMT to build a modern, renewed image quickly.

5. Blogs

HMT can build communities in which people who are using a model can give their views on that

product. This will help company understand its customers and their responses better and also

give customers freedom to raise their complaints and issues in context of that product. By

involving customers during the product evaluation process, HMT is trying to tell that they are

honest and they care for their customers. This is again in line with companys one voice mess

that they are a considerate brand.


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6. Website

Website should contain the complete details of all the different models with theirfeatures.

It should have facility to compare HMT product with competitors. Customers would getan impression that HMT understands competition and is open to sharing information; i.e.

confident, reliable and trustworthy image is reflected.

It should also host communities of customers based on the product they use.

7.Word of Mouth marketing

Person to personHMTs performance, supreme designs and affordable costs should compel thepeople to talk favourably about it.

8. Chat rooms

Chat rooms can be setup where the customers can interact with experts form companies to get

their queries solved, this also go in sync with HMT strategy of caring for customers.


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VIII. PERSONAL SELLING

1. Sales presentations

HMT should organize meeting in various cities across country where existing consumers can

come and give their view about the product they are using currently. Also, customers can

suggest modifications or improvements. This exercise will help companies to understandconsum

er requirements and plan future product lines accordingly. Consumers can be given small

gifts/mementos in lieu of taking out their time.

2. Sales meeting

Sales force is an important part of communication strategy as it is the team that can check that

communication that company is using is it actually reaching the target audience .This team need

to be highly motivated and should work in sync with the core strategy or communicationmessage of the Brand.

3. Samples

HMT can also think of placing few of its new models on display at position where it can catch

eyes of people and in a way can give a trial experience to customers at these types of places

for FREE! These positions could be Railway Station, Metro stations etc.

Documents

Revitalization of HMT