Research project on Rado

A PROJECT REPORT
ON MARKETING STRATEGY OPTED BY
RADO WATCHES IN PUNE CITY
BY
SHIVAM SHUKLA
(BBA) (2014-15)
IN PARTIAL FULFILLMENT OF
Bachelor of Business Administration
UNIVERSITY OF PUNE
MITSOM College
PUNE: 411038

CERTIFICATE
This is to certify that MR SHIVAM. SHUKLA. Of MAEER’s MITSOM College has
successfully completed the project work in partial fulfillment of requirement for the award
of Bachelor of Business Administration prescribed by the University of Pune
This project is the record of authentic work carried out during the academic year
2014-15.
(Dr.) R.M. Chitnis
Subject Teacher Principal

DECLARATION
I Mr. SHIVAM. SHUKLA hereby declare that this project is the record of authentic work
carried out by me during the academic year 2014-15 and has not been submitted to any
other University or Institute towards the award of any degree.
SHIVAM.SHUKLA.

INDEX
SR.
NO
TOPIC PAGE
NO.
1. COMPANY PROFILE
2. THEORY OF RESEARCH METHODOLOGY
3. ANALYSIS OF DATA AND FINDINGS
4. CONCLUSIONS OF DATA AND FINDINGS
5. APPENDICES
(QUESTTIONAIRE)
6. BIBLIOGRAPHY

Introduction
Rado is a Swiss high range manufacturer of watches, with headquarters in
Lengnau, Switzerland. It is noted for its use of scratch-proof materials, a field in
which it
is considered a pioneer. Today the company produces about half a million
watches a
year with a staff of about 470 in total. Rado's watches are obtainable in more
than 150
countries, at over 5900 points of sale. The most important markets are Southeast
Asia,
Japan, China, Middle East as well as countries within Europe such as Switzerland,
Germany, Italy and the USA.
History of Rado
Rado was formed in 1950 as Schlup & Co. Rado initially produced watch
movements only. In 1957 the company launched its first collection of watches
under the
Rado brand. In 1962 the Rado Diastar, the world's first scratch-proof watch, was
launched. It has been in production ever since, now sold as DiaStar the Original.
In
1968, Rado became part of the ASUAG, which merged 1983 with the SSIH to the
SMH

Different Rado Products
Watches

Marketing Management (Theory 2000-2011)
Rado’s marketing management relates with both the theories of 2000-2011 and
2012-2016.
These theories emphasize on maintaining a sustainable growth by adding value
to
the customers by delivering and communicating superior customer value.
Vision
Rado strives to become one of the leading international seller and dealer of
quality authentic vintage & luxury Swiss watches of value online.
Mission Statement
Sell up to 20 unique watches weekly at profitable to the company yet at
Affordable prices to customers.
Maintain Rado (Captain Cook, Manhattan), Zodiac (Sea Wolf, Astrographic),
&
Bulova (Oceanographer, Snorkel) in weekly inventories;
Maintain favorable buyer-seller relationship by actively providing assistance to
all customers
Business plan
A business plan should have seven clear sections. These are: summary, concept
section, market conditions, promotion costs, marketing strategy, manpower
plans and
exit strategy.
Rado plans to innovate in order to stay strong for the coming 50 years. The
luxury watch brands that are suffering today were doing rather well quite a few
years
ago but they increased their prices without having altered the substance, the
value that
is inside the product. Luxury brands step up battle for travelling shoppers but
Rado do
not see the need to move upstairs because it is positioned between Tissot and
Omega.
Rado has a strong brand in each price segment, so its objective is clear that it
always try
to bring best value for the price segment that it is strong in.

Corporate Strategy
Rado is strongly committed to the Group’s clear, healthy corporate strategy of
broad geographical presence in all main markets of the world, its
unprecedented
positioning in all market price segments as well as its reliance on its highly
integrated
production and product development capabilities with its innovative research
and
technical know-how. At Rado, nothing is impossible. Its philosophy is to keep
exploring
and pushing the boundaries.
SWOT Analysis
Strengths:
1. Rado’s creation of high tech diamond (hardest material on earth) is in the
Guinness
book of world records, strengthening the brand positioning of being
technologically
innovative in materials.
2. Proud recipient of more than 30 international design awards.
3. The brands USP in use of innovative materials is broad in nature and not
restricted to
any particular look.
4. Rado has also associated itself with various sporting events, especially Tennis
that has provided the brand international presence
5. Part of the Swatch group that has 28,000 employees across 50 countries
Weakness:
1. The brands non-classic design is not popular with traditional watch collectors
2. Limited market share growth due to competition
3. Failure to keep up the middle income segment market share
4. Do not tap the rural market
Opportunity:
1. As the brand has not restricted itself to any ‘look’, there are plenty of
opportunities in expanding the product line without affecting the brands
positioning.

Threats:
1. The brands competitors in the high-end segment are positioned as watches
with classic design. While Rado has a classics collection, it is threatened heavily
by their Presence
2. Fluctuating economies means limited spending on luxury items
3. Fake/cheap imitations cause damage to brand
4. Mobile phone as substitute product of watch. Many foreign brands entering
into market creating heavy competition.
Marketing strategy
The marketing strategy is based on the mix of the product, price, place and
Promotion. These factors are determined according to the needs of the target
market.It can be seen that the marketing strategy targets high income segment
men and women. Rado is not a cyclical fashion brand, it has a core market but it
has also moved with the times whilst being respectful of its classic design past.
The strong aesthetics of the products also play a major part in the overall sales
machinery. The strategy is to incite the maximum amount of sales. However,
Rado faces a lot of competition from the already exiting players in the market.
Market segmentation
There are various ways through which the companies can identify
attractive market segments but the most popular approach is that the company
evaluates each segment on the basis of some factors. All segments are
evaluated by Rado on the basis of their size (number of customers). The growth
rate of each segment is explored and the competition which Rado has to face in
each segment in determined. The company also determines the brand loyalty of
each segment and attainable market shares are calculated. Rado then
determines the required market shares at break-even point and matches the
profit margins of each segment.
The Rado Marketing Mix
Marketing is the effort made by an organization to identify needs and wants of
potential customers and then satisfying them. The most successful organizations
are those that are the most successful in first identifying and second satisfying
customer’s needs. A careful examination of the marketing mix of a company
yields insight into the health and direction of the company by indicating the
market being pursued by the company. There are many organizations that excel
at marketing products and services but the greatest example of marketing
genius is displayed by the Rado watch company.
The marketing mix of the Rado Watch Company is an example of why not
following the usual way to market products is often a good idea. When the

company was started if the founder had not taken the unusual step of gaining
certification as to his watches accuracy the company and the hallmarks of the
product would not be known. It is important that successful marketing managers
take advantage of the controllable tools of the marketing mix as they have done
at Rado. Marketing strategies can be developed with techniques like target
marketing, niche marketing, branding and others. Although these techniques
can seem confusing, with understanding they can give you a solid framework to
begin developing a strategic competitive advantage. Here are explanations of
some of the most useful techniques.
Marketing Mix of Rado (7p+4c)
Once you've developed your marketing strategy, there is a "Seven P Formula"
you should use to continually evaluate and reevaluate your business activities.
These seven are: product, price, promotion, place, packaging, positioning and
people
Product:
In case of Rado, the ‘product’ is intangible, heterogeneous and
perishable. Moreover, its production and consumption are inseparable. Hence,
there is scope for customizing the offering as per customer requirements and the
actual customer encounter therefore assumes particular significance. However,
too much customization would compromise the standard delivery of the service
and adversely affect its quality. Hence particular care has to be taken in
designing the service offering.
Pricing:
Rado price is directly related to the technical perfection of the
mechanism, the use of precious stones and metals. It is recognized that a Rado –
a sample of technical excellence that is difficult to find equal counterparts. The
company is the largest consumer of gold in Switzerland, and the largest amount
of gold used in the watch making industry is this mark (for the production of male
body gold watches Rado takes about 40 grams of precious metal). The famous
Rado leaders also on the number of gold bracelets and watches encrusted with
diamonds.
Place:
The third P in the marketing mix is the place where your product is
actually sold. Develop the habit of reviewing and reflecting upon the exact
location where the customer meets the salesperson. Sometimes a change in
place can lead to a rapid increase in sales. This may include any physical store
(supermarket, departmental stores) as well as virtual stores (e-markets and
e-malls) on the Internet.

Promotion:
When speaking about promotion strategy of Rado, I can propose to
focus on event marketing. As the name implies, the basis of event marketing is an
event, and often a set of special events organized to promote a product or
service. We can say that, in terms of business objectives, a special event is a form
of human involvement in the culture of the brand, corporate or other community
organization through his actions and feelings, because of this we can achieve
long-term effects of event-marketing: affect both those who take part in it and
even indirectly affect those who missed the event, but
is the target group. We now look at the 3 new elements of the services marketing
mix - people, process and physical evidence - which are unique to the marketing
of services.
People:
People are a defining factor in a service delivery process, since a service
is inseparable from the person providing it. Thus, a restaurant is known as much
for its food as for the service provided by its staff. The same is true of banks and
department stores. Consequently, customer service training for staff has become
a top priority for many organizations today.
Process:
The process of service delivery is crucial since it ensures that the same
standard of service is repeatedly delivered to the customers. Therefore, most
companies have a service blue print which provides the details of the service
delivery process, often going down to even defining the service script and the
greeting phrases to be used by the service staff.
Physical Evidence:
Since services are intangible in nature most service providers strive to incorporate
certain tangible elements into their offering to enhance customer experience.
Thus, there are hair salons that have well designed waiting areas
often with magazines and plush sofas for patrons to read and relax while they
await their turn. Similarly, restaurants invest heavily in their interior design and
decorations to offer a tangible and unique experience to their guests.
The traditional Marketing mix is a 4 P’s model and is business oriented.

The 4 C’s model of marketing on the other hand is more consumer oriented.
Because of its focus on consumers, the 4 C’s model is mainly used for Niche
Marketing. However, just like the traditional marketing mix, it can also be used for
mass markets. The four variables
in the 4 C’s model are
Consumer
Cost
Convenience
Communication
Consumer –
The principle of four C’s of marketing states that your customer
should be your prime focus. Unlike the traditional marketing mix where the
primary focus is on Products, in the 4 C’s model, the primary focus is on the
customer.
Cost –
Cost is equivalent to Pricing in the traditional marketing mix. Cost is a very
important consideration during consumer decision making and hence in the 4
C’s principle, the cost variable is given special attention. The 4 C’s model
generally plans on the basis of Customers and not products. And hence they
have to plan the cost of the product on the basis of their customer.
Communication –
The concept of communication remains same for both, the
traditional marketing mix as well as for the 4 C’s of marketing. Off course, the
marketing communications for a company following the 4 C’s of marketing is
completely different as it needs a completely different Segmentation, targeting
and positioning.
Convenience –
Convenience is equivalent of distribution or placement of the
traditional marketing mix. When you have a niche customer base, the
convenience of the customer in acquiring your product plays a critical role. Take
a niche product like Heavy machinery as an example or even products like
television and air conditioners.

Marketing Budget & Expenditure
A marketing expenditure is simply a payment made for a marketing-related
investment or expense. Market research, product development, promotions,
sales and service are all areas in which companies make marketing investments.
Companies often allocate certain amounts toward marketing expenditures
through a set budget amount. Much of a company's marketing expense comes
through promotion, and more specifically advertising. As far as it is a watch
manufacturing company marketing expenditure is very crucial to grab the
market. Rado make r distribute various attractive TV commercials
which increase its marketing expenditure. In the TV commercials or print ads they
try to introduce renowned personality so that customer gets more attracted to
the brand. This also increases the marketing budget and expenditure of the
company but in return they expect that more and more customer will be
attracted to their brand and customer loyalty will increase.
Pricing strategy
The pricing strategy that the Rado Company employs is distinct in its conception
and execution. Rado sets its prices with little regard to the competition and their
pricing, choosing instead to price its timepieces as it sees fit and therefore setting
the price point for others to follow. Rado watches vary in pricing according to
model, age and materials but the core collection of Rado pieces will range from
about US$700 to about US$28,000. Models that include pave dials of diamonds
and baguette diamonds can cost approximately US$30,000 to US$250,000. The
company does not offer any sort of discounts for customers or any sort of price
reductions or sales although occasionally there are dealers that offer discounts
because of financial difficulties. Rado does not offer discounts because
consumers are willing to pay the prices set by the
company as is evidenced by the fact that even during an economic downturn
and faced with discounted other brands of watches the majority of luxury watch
shoppers where looking for a Rado.

THEORY OF
RESEARCH
METHODOLOGY:
INTRODUCTION:
Research in common parlance refers to a search for knowledge. Once can also
define research as a scientific and systematic search for pertinent information on
a specific topic. In fact, research is an art of scientific investigation. The
Advanced Learner’s Dictionary of Current English lays down the meaning of
research as “a careful investigation or inquiry specially through search for new
facts in any branch of knowledge.”1 Redman and Mory define research as a
“systematized effort to gain new knowledge.”2 Some people consider research
as a movement, a movement from the known to the unknown. It is actually a
voyage of discovery. We all possess the vital instinct of inquisitiveness for, when
the unknown confronts us, we wonder and our inquisitiveness makes us probe
and attain full and fuller understanding of the unknown. This inquisitiveness is the
mother of all knowledge and the method, which man employs for obtaining the
knowledge of whatever the unknown, can be termed as research.
Research is an academic activity and as such the term should be used in a
technical sense. According to Clifford Woody research comprises defining and
redefining problems, formulating hypothesis or suggested solutions; collecting,
organizing and evaluating data; making deductions and reaching conclusions;
and at last carefully testing the conclusions to determine whether they fit the
Formulating hypothesis.

Types of research:
● Descriptive research:
It includes surveys and fact finding enquires of different kind
● Historical research:
It is that which utilizes historical sources like documents, remains etc. to
Study events or ideas of past, including the philosophy of persons and
groups
● Experimental research:
It is one where the independent variable can be directly manipulated by
the experimenter.
● Applied research:
As the name implies it applies theory or models developed through other
researches to the actual solution of the problem.
● Fundamental research:
It is mainly concerned with generalization and with formulation of theories
● Quantitative research:
It is based on the measurement of quantity or amount.
● Qualitative research:
It is concerned with qualitative phenomena.
● Conceptual research:
It is related to some abstract ideas or theory.
● Empirical research:
It relies on experiences or observation alone without due regard for system
theory.
● Pure research:
Pure research is undertaken for the sake of knowledge without any
intention to apply it in practice.

The research cycle:
Steps in Research Process:
i. Formulating the Research Problem
ii. Extensive Literature Review
iii. Developing the objectives
iv. Preparing the Research Design including Sample Design
v. Collecting the Data
vi. Analysis of Data
vii. Generalization and Interpretation
viii. Preparation of the Report or Presentation of Results-Formal
write ups of conclusions reached.

● Formulating a Research Problem:
Researchers organize their research by formulating and defining a research
problem. This helps them focus the research process so that they can draw
conclusions reflecting the real world in the best possible way.
● Hypothesis:
In research, a hypothesis is a suggested explanation of a phenomenon.
A null hypothesis is a hypothesis which a researcher tries to disprove. Normally,
the null hypothesis represents the current view/explanation of an aspect of the
world that the researcher wants to challenge.
Research methodology involves the researcher providing an alternative
hypothesis, a research hypothesis, as an alternate way to explain the
phenomenon.
The researcher tests the hypothesis to disprove the null hypothesis, not because
he/she loves the research hypothesis, but because it would mean coming closer
to finding an answer to a specific problem. The research hypothesis is often
based on observations that evoke suspicion that the null hypothesis is not always
correct.

● Variables:
A variable is something that changes. It changes according to different factors.
Some variables change easily, like the stock-exchange value, while other
variables are almost constant, like the name of someone. Researchers are often
seeking to measure variables.
The variable can be a number, a name, or anything where the value can
change.
An example of a variable is temperature. The temperature varies according to
other variable and factors. You can measure different temperature inside and
outside. If it is a sunny day, chances are that the temperature will be higher than
if it's cloudy. Another thing that can make the temperature change is whether
something has been done to manipulate the temperature, like lighting a fire in
the chimney.
In research, you typically define variables according to what you're measuring.
The independent variable is the variable which the researcher would like to
measure (the cause), while the dependent variable is the effect (or assumed
effect), dependent on the independent variable. These variables are often
stated in experimental research, in a hypothesis, e.g. "what is the effect of

personality on helping behavior?"
In explorative research methodology, e.g. in some qualitative research, the
independent and the dependent variables might not be identified beforehand.
They might not be stated because the researcher does not have a clear idea yet
on what is really going on.
● Operationalization:
Operationalization is to take a fuzzy concept (conceptual variables), such as '
helping behavior', and try to measure it by specific observations, e.g. how likely
are people to help a stranger with problems.
● Choosing the Research Method:
The selection of the research method is crucial for what conclusions you can
make about a phenomenon. It affects what you can say about the cause and
factors influencing the phenomenon.
It is also important to choose a research method which is within the limits of what
the researcher can do. Time, money, feasibility, ethics and availability to
measure the phenomenon correctly are examples of issues constraining the
research.

● Choosing the Measurement:
Choosing the scientific measurements are also crucial for getting the correct
conclusion. Some measurements might not reflect the real world, because they
do not measure the phenomenon as it should.
● Results:
Significance Test
To test a hypothesis, quantitative research uses significance tests to determine
which hypothesis is right.
The significance test can show whether the null hypothesis is more likely correct
than the research hypothesis. Research methodology in a number of areas like
social sciences depends heavily on significance tests.
A significance test may even drive the research process in a whole new
direction, based on the findings.
The t-test (also called the Student's T-Test) is one of many statistical significance
tests, which compares two supposedly equal sets of data to see if they really are
alike or not. The t-test helps the researcher conclude whether a hypothesis is
supported or not.
● Drawing Conclusions:
Drawing a conclusion is based on several factors of the research process, not just
because the researcher got the expected result. It has to be based on the
validity and reliability of the measurement, how good the measurement was to
reflect the real world and what more could have affected the results.
The observations are often referred to as 'empirical evidence' and the
logic/thinking leads to the conclusions. Anyone should be able to check the
observation and logic, to see if they also reach the same conclusions.
Errors of the observations may stem from measurement-problems,
misinterpretations, unlikely random events etc.
A common error is to think that correlation implies a causal relationship. This is not
necessarily true.

● Generalization:
Generalization is to which extent the research and the conclusions of the
research apply to the real world. It is not always so that good research will reflect
the real world, since we can only measure a small portion of the population at a
time.
● Validity and Reliability:
Validity refers to what degree the research reflects the given research problem,
while Reliability refers to how consistent a set of measurements are.

Types of validity:
● External Validity
● Population Validity
● Ecological Validity
● Internal Validity
● Content Validity
● Face Validity
● Construct Validity
● Convergent and Discriminant Validity
● Test Validity
● Criterion Validity
● Concurrent Validity
● Predictive Validity
A definition of reliability may be "Yielding the same or compatible results in
different clinical experiments or statistical trials" (the free dictionary). Research
methodology lacking reliability cannot be trusted. Replication studies are a way
to test reliability.
Types of Reliability:
● Test-Retest Reliability
● Interrater Reliability
● Internal Consistency Reliability
● Instrument Reliability
● Statistical Reliability
● Reproducibility

Both validity and reliability are important aspects of the research methodology to
get better explanations of the world.
● Errors in Research:
Logically, there are two types of errors when drawing conclusions in research:
Type 1 error is when we accept the research hypothesis when the null hypothesis
is in fact correct.
Type 2 error is when we reject the research hypothesis even if the null hypothesis
is wrong.
Methods of sampling

ANALYSIS OF DATA
AND FINDINGS:

DO YOU WEAR A
WATCH?
● FROM THE ABOVE GRAPH WE CAN SEE THAT ALMOST 85-87% THAT IS 36
PEOPLE WEAR A WATCH.
● WHEREAS OUT OF 40 PEOPLE, 4 PEOPLE SAY THEY DO NOT WEAR A
WATCH.

HOW MUCH DO YOU
PREFER TO SPEND ON A
WATCH?
● MOST OF THE PEOPLE PREFER WATCHES COST BETWEEN THE RANGE OF
5000-10,000
● BUT IT IS EVEN SEEN THAT 18% OF THE SAMPLE PREFER SPENDING ON
LUXURIOUS WATCHES.

WHICH BRAND WATCH DO
YOU PREFER?
PREFRENCES OF PEOPLE:
● AS THERE ARE A LOT OF BRANDS WATCHES IN THE MARKET SOME OF WHICH ARE
LISTED ABOVE.
● EVERYONE HAS THEIR OWN PREFRENCES AS TO WHICH BRAND WATCH THEY WANT
TO BUY, HENCE THEIR PREFRENCES ARE SHOWN ON AVERAGE.
● FROM ABOVE WE CAN SAY THAT MOST PEOPLE PREFER GUESS WATCHES AND OTHER
BRAND WATCHES.

HAVE YOU HEARD OF RADO
WATCHES?
● MOST OF THE PEOPLE HAVE HEARD OR WE CAN SAY KNOW ABOUT
RADO WATCHES, ALMOST 90% OF THE PEOPLE ARE KNOWN TO THE
BRAND RADO.

WHAT DO YOU THINK, ARE RADO
WATCHES SPECIFICALLY MEANT
FOR THE RICH CLASS OF THE
SOCIETY?
● THIS SHOWS US THAT 93% OF THE PEOPLE THINK THAT RADO
WATCHES ARE SPECIFICALLY PRODUCED FOR THE RICH OR THE
LUXURIOUS CLASS OF THE SOCIETY.
● WHEREAS 7% THINK IT IS NOT SO…ANYONE CAN USE A RADO
THOUGH IT MAY BE A MIDDLE CLASS PERSON.

DO YOU KNOW HOW DOES A
RADO WATCH FUNCTION OR
WORK?
● MAXIMUM PEOPLE THINK RADO WATCHES FUNCTIONING IS
AUTOMATIC RATHER THAN MANUAL OR SOLAR.
● ALMOST 57% OF THE SAMPLE THINKS SO LIKE THAT.

DO YOU THINK RADO SUPPLIES A
LIMITED VARIETY AND BASIC &
SIMPLE DESIGNS TO THE
COUSTOMERS?
FROM ABOVE WE CAN SAY THAT MAXIMUM OF THE PEOPLE THINK
THAT RADO PROVIDES A LOW VARIETY OF DESIGNS AND BASIC
DESIGNS AS COMPARED TO OTHER WATCHES.

ACCORDING TO YOU, HOW LONG
DOES A RADO WATCH LAST FOR?
● FOR ALMOST HALF OF THE SAMPLE EVEN OWNING A SINGLE RADO
WATCH MEANS USING IT FOR THE REST OF THE LIFE.
● WHEREAS THERE ARE SOME FOR WHOOM IT MAY BE A USABLE JUST
FOR FEW YEARS OR 10-15 YEARS.

IS RADO WATCHES
SCRATCH PROOF AND
WATER TIGHT?
ACCORDING TO THE WHOLE SAMPLE IT IS INTERPRETED THAT MOST
PEOPLE BELIEVE THAT RADO WATCHES ARE SCRATCH PROOF AND
WATER RESISTANT.

HOW DO YOU IDENTIFY WETHER A
WATCH IS A TRUE RADO OR
COUNTERFEIT?
● AMONGST ALL THE PEOPLE WHO FILLED THE QUESTIONNAIRE, 45%
OF THEM THINK IDENTIFICATION OF A TRUE RADO CAN BE DONE
ONLY BY A QUALIFIED WATCHMAKER
● WHEREAS OTHERS BELIEVE IT’S BETTER TO RELY ON AN AUTHORISED
DEALER AND ON THE CERTIFICATE AND WARRANTY CARD.

ACCORDING TO YOU THE PRICE
CHARGED BY RADO, DO YOU
THINK THE QUALITY SUPPLIED IS
SATISFACTORY?
● MAXIMUM PEOPLE SAY THAT THE PRICE CHARGED AND QUALITY
SUPPLIED BY RADO IS PRIETY MUCH SATISFACTORY.
● SOME ELEMENTS OF SAMPLE THINKS THE PRICE CHARGED IS TO
HIGH.

CONCLUSIONS OF THE
FINDINGS AND
ANALYSIS:

PESTEL Analysis
PESTEL stands for Political, Economical, Sociocultural, Technological,
Environmental, Legal analysis of the external environment affecting the business.
PESTEL analysis is a tool used to look at the environment of the business. PESTEL
analysis provide the information that help Rado to understand the market
situation, business position and the direction of operation. PESTEL analysis is done
by managers to understand the macro environmental factors affecting the
business. These analyses are strategic tools for understanding
market growth, market share, and latest trends.
Political:
Being foreign watch maker Rado had to face challenges regarding tax policy,
employment laws and trade restrictions and tariffs. It cannot completely enter
into a foreign market until such issues are solved. Joint ventures are sometimes
beneficial if Rado can maintain all policies of that particular country.
If the government of a particular country where Rado has its operation takes
some steps to improve the rate of gross domestic product (GDP) and decrease
the inflation that would help Rado maintain its growth in the market and perform
well in the watch industry.
Economical:
If a country is prospering in its economic growth and other factors such as
interest rate, exchange rates and inflation rates are favorable then this would
reflect that many people have ability to purchase the luxury products. This would
create a favorable scenario for Rado to keep up its market share in that country.
Social/Socio-Culture:
The consumer definitely became very knowledgeable and demanding in the
past 10-15 years in terms of watches, because of course not only the perception
of watches changed a lot, the watches are not simply a tool anymore to tell the
time, but it became an accessory that says something about one’s personality,
lifestyle, preferences, and values. The consumer is becoming more and more
educated also about technical aspects. That had changed the whole
perception at the market in the past 10 years and that helps develop Rado so
well in different age group and among different career professionals.

Technological:
Rado is a technological brand focused on design and has brought major
innovation to this industry for the last 50 years. Innovation and high-tech materials
have been an obsession with Rado for the last 50 years. When other watch
brands were mainly focusing on legacy and craftsmanship, Rado was the one
brand always looking to the future and always trying to push the
boundaries. Some examples of this are the milestones that Rado were first to
achieve. First Sapphire Crystal, first curved sapphire, first ceramic watch, first
high-tech diamond watch, pioneered the use of crystal metallization and so on.
Environmental/Ecological:
The high-tech ceramic is lighter, scratch resistant, hypo-allergenic and it has
Incredibly low thermal conductivity making it more comfortable in adjusting to
body temperature.
Legal/Regulatory:
Many governments have opened the market to encourage foreign investment.
The import license for watch is easy to obtain by foreign organization. This
created certain opportunists as well as challenges for Rado because many
foreign brands are entering into market into which Rado wants to expand.
Furthermore, by 1992, WTO has removed quantitative restriction and reduces the
import duty to 25% which earlier was 50% on import watches. This makes Rado
difficult to maintain a sustainable growth because of increase competition of
foreign brands
CONCLUSION:

From this research we can say that most of the people i.e. almost 85-90%of the
people have a habit of wearing watches.
● Most of the people prefer watches which cost between the ranges of
5000-10000.
● But it is even seen that 18% of the sample prefer spending on luxurious
watches. As there are a lot of brand watches in the market some were
listed.
● Everyone has their own preferences as to which brand watch they want
to buy, hence there preference are shown on an average.
● From the above we can conclude that most people prefer guess
watches and other brand watches.
● Maximum people think RADO watches functioning is automatic rather
than manual or solar.
● Almost 57% of the sample thinks so like that.
● For almost half of the sample even owning a single RADO watch means
using it for the rest of the life.
● Whereas there are some for whom it may be usable just for few years or
may be 10-15 years.
● According to my whole sample it is interpreted that most people believe
that RADO watches are scratch and water proof.
● Maximum people say that the price charged and quality supplied by
RADO is pretty much satisfactory.
● Some elements of the sample think the price charged is too high.
● Amongst all the people who filled the questionnaire , 45% of them think
identification of true RADO can be done only by a qualified watchmaker.
● Whereas others believe it’s better to rely on an authorized dealer and on
the certificate and warranty card.
The wristwatch, for most of the last century, has been the ultimate male

accessory. One of the few accepted male adornments, the pocket watch
evolved into the wristwatch and subsequently into a key indicator of social
status, particularly in the upper echelons of society. Wrist Watches form an
integral part of the personality of individuals in the present era. Earlier seen as a
luxury item, they are now witnessing a fundamental change in perception, and
are now gaining respect as an essential utility item. For the watch industry, time
seems in its favor what with the liberalization of the global market coupled with
the rising purchasing power of the young and consumerist customers.
Though mobile phones have become the substitute for watches clocking the
penetration to only 27%, still Asian watch market is growing at high speed
bringing hosts of opportunities for all the segments equally. There are oodles of
innovations, better watch portfolios with quality and price ranges and enhanced
selling outlets to increase consumer base at large.
The new generation, encompassing today’s tweens and teenagers, has never
had it so good. Brand-conscious, tech-savvy, old before their years and
equipped with generous incomes that are almost entirely discretionary, they are
an increasingly attractive segment for marketers of all kinds of products, ranging
from fashion and beauty to digital devices. Rado’s unique and latest design,
luxurious image and customers’ loyalty are the main key components of
sustaining as a market leader in this competitive global market.

QUESTIONNAIRE ON:
RADO WATCHES
Name:
Age : Gender : Male Female
Occupation :
NOTE : All the information will be kept confidential .This data will be use only for research
purpose.
Tick only one appropriate option
Q.1 Do you wear a watch?
Yes No
Q.2 How much do you prefer to spend on a watch?
Rs 5,000 – 10,000 Rs 10,000 – 50,000
Rs 50,000 – 1,00,000 Above Rs 1,00,000
Q.3 Which brand watch do you prefer?
Titan Espirit Guess Rado
Rolex Police Casio Others
NOTE: ALL the information will be kept confidential. This data will be used only for
research purpose

Q.4 Have you heard of Rado watches?
Yes No
Q.5 What do you think are Rado watches specifically meant for Rich of people?
Yes No
Q.6 Do you know how does a Rado watch function?
Manual Solar Automatic
Q.7 Do you think Rado supplies a limited variety and basic & simple designs to the
customers?
Yes No
Q.8 According to you how long does a Rado watch last for?
Few years 10-15 years Lifetime
Q.9 Are Rado watches is scratch proof and water resistant?
Yes No
Q.10 How do you identify whether a watch is a true Rado or counterfeit?
A qualified watchmaker
Authorized dealer with certificate
Q.11 According to you the price charged by Rado, do you think the quality supplied is

satisfactory?
Yes No
RECOMMENDATIONS/SUGGESTIONS:
SIGNATURE

BIBLIOGRAPHY:
● Marketing Management – A South Asian Perspective – 14/e by Philip Kotler,
Kevin Lane Keller, Abraham Koshy and Mithileshwar Jha; Pearson Prentice
Hall.
● http://www.rado.com/en/
● Strategic Marketing Management – Meeting the Global Marketing
Challenges by Carol H. Anderson & Julian W. Vincze Published by
Houghton Mifflin Company.
● 4. Marketing Management, R. Saxena, Tata McGraw-Hill, New Delhi, 1997..
Anderson, Eugene W, Claes Fornell and Sanal K Mazvancheryl (2004)
‘Customer satisfaction and shareholder value’. Journal of Marketing, vol.
68, no.,October.
● Ryan, Damien and Calvin Jones (2009) ‘Understanding digital marketing –
marketing strategies for engaging the digital generation’, Kogan Page.
● Porter, M. E. On Competition, Updated and Expanded Edition. Boston:
Harvard Business School Press, 2008.
● Porter, M. E. The Competitive Advantage of Nations. New York: Free Press,
1990. (Republished with a new introduction, 1998).
● Porter, M. E. "Strategy and the Internet." Harvard Business Review 79, no. 3
● Federation of the Swiss Watch Industry FH. (1997). From the roots until
today's achievements....Retrieved March 1, 2010, from Federation of the
Swiss Watch Industry Web Site: http://www.fhs.ch/en/history.php
● Swiss National Bank. (2009). Direct Investment 2008. Zurich: Swiss National
Bank.
● SwissBanking.org. (2009). The Economic Significance of the Swiss Financial
Center.

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