1520628_634818224860781250 Titan Industry in india

8/12/2019 1520628_634818224860781250 Titan Industry in india

1/14


2/14

STRENGTHS WE KNESS

OPPORTUNITIES THRE DS

PROPER

LAYOUT OFSWOT

ANALYSIS.


3/14

STRENGHTS :

It has an aggressive approach inproduct so as to create and deliver highquality product.

An effective positioning strategy foreach and different of segment.

Having a high profile distribution via

showroom concept so as to enhance thebrand name.

It uses effective and charismatic way ofpromotion so as to creat more potential

customer base in market.


4/14

WEAKNESS:

Lack of management depth (at theinitial stage of business ).

Not advance staff training in CRM

(customer relation management)department .

Particularly in DASH segment

which esp. designed for kids are nothaving way too narrow productline.

High cost operation due to highlabour costs is major factor in salesturnover also.


5/14

OPPORTUNITIES:

Collaboration with theinternational brands.

Adopt advanced training staffwith the latest technology, so as tocreat better quality product which

is reliable for customers.

It also viewed as an individualstaste and style than a meretimekeeping device.

Specialization of productaccording to different segments(like mass production or in nichemarketing).


6/14

Threads :

Likely entry of new competitions.

In the era of globalization, there is intensecompetition from well and establishedinternational brands.

Well since competition is intense, there is

increase in excise duty on high prices watches.

Leaking of dummy models of original ones ingrey market can fluctuate the price drastically.

Keeping the same trend over long period of timecould saturate customers Hence, resulting inweaker product life cycle.


7/14


8/14

PRODUCT STRATEGY TITAN STARTED MAKING AND MARKETING

OVER 6 MILLION WATCHES

TITAN USED AN AGGRESSIVE APPROACH INPRODUCING ITS PRODUCT.

USUALLY THE QUALITY OF WATCHES WERE

CONTEMPORARY IN STYLE

TITANS PRODUCED NEW MODELS ANDDIALS AT REGULAR INTERVALS.


9/14

CONTINUATION .Titan started producing quartz watches.

It produced more than 1000 models in

corporate world trends.Titan produced watches which matched

ones dress on occasions and even it

produced jewelry watches.Finally it launched nebula which were

gold plated watches.


10/14

PRICE STRATEGY Initially titans produced watches were sold at a

mere price rate.

Gradually titan quartered two distinctsegments - RS 9000 to RS 15000 (medium

category) and RS 15000 to RS 80000 (top of the

line category).

It emerged its business by successfully tappingthe middle and the upper market segments

which produced watches costing more than RS

500.


11/14

Continuation. It conferred a dominant position in the market by

pricing its watches at a range of RS 350-500

It even produced high priced watches for the

upper class society named-NEBULA costing around5950-32000

Designed watches for children DASH and pricedthem at a cost of RS 250-395

And finally in the year 1999-2000 titans salesturnover came to RS 630 cr. , net profits were 19.2cr. And watch business generated 20% return oncapital employed.


12/14

Promotion strategy Titan , started promoting both of its kinds

mechanical and quartz.

The promotion was so vigorous that market got an

impression titans the first to produce quartzwatches , but HMT had already introduced it backin 1981

It started selling and promoting its watches in two

segments person to person gifting , and using it asa corporate gift.

Titan made its product available at localities suchas , bookstores , gift shops and boutiques.


13/14

Continuation. It followed a principle , ONCE YOU HAVE TARGETTED

YOUR CUSTOMER , FOLLOW HIM WHEREVER HE GOES.

Titan voted for showrooms idea and started franchising

a network of trends titan showrooms. It spent over RS 20 cr/yr. for promotion in the initial

years

One of its SALES PROMOTION scheme was GOLDBONAZA , which offered a first prize of jewelry worthRS 1.5 lakhs and RS 1 lakhs in cash.

Further it allocated a promotion budget of RS 42 cr. ascompared to 35 cr. the prev. year.


14/14

PLACE STARTEGY The companys watches are currently sold in about

40 countries of the world , through marketing

subsidiaries based in London , Dubai , and

Singapore.

It has more than 6000 retail shops spread through

out the country , covering 1200 towns.

Currently titan has spread over 350 shops in theUAE , OMAN , BAHRIAN , and QATAR.

1520628_634818224860781250 Titan Industry in india

Documents

Transcript of 1520628_634818224860781250 Titan Industry in india