Presented by: -Niranjan Nikalje -Deepak Kumar -Yogesh Lalwani
History of watch market
Indian watch industry began in 1961 with watch
division from HMT. First mode of watch the Janata model 1962 HMT 1987 Titan was formed with TN industrial development corporation. After 1992 liberalisation opened door for tissot ,omega, tag heuer , rado ,rolex and etc
Porters five force model.
Supplier power -More option high power -Increase of china and Taiwan watches
Barriers to entry -Cluttered market -Lack of differentiation
Degree of rivalry -Increased number of firms -Low switching cost -Strategic stakes are high
Threat of substitute -Early : no substitute -Present : Mobile phones.
Buyer power -Price sensitive
-Brand preference
Indian watch market
India is under penetrated market for watches. Only
27% of Indians own a watch. Total estimated volume as per 2008 is 44 million units and value of Rs 2700Cr. Vast proportion of Indian market is below Rs 500 by about 68%
Titan
Titan India Ltd., formerly (Titan watches limited)
is a joint venture between Tata group of companies and Tamil Nadu Industri al Development Corporation (TIDCO) was incorporated in 1987, and within three years of inception became a market leader. It has its Head Quarters at Hosur, India and Titan has presence in 4 continent and 32countries. Watches: Popular Priced, Mid Priced and Premium Priced Eye Gear: Sunglasses, Prescription Glasses. Contact Lenses Accessories : Wallets, Purses, Wrist Bands
SWOT ANALYSIS FOR TITAN Strength
.Style:
Titan first introduced the style concept in India and projected the watch asa fashion accessory. Nowadays style is a very much evident factor among the youth. So, Titan makes the peoples life more glorious by making stylishwristwatch.2. Models: Titan offers the best and the biggest range to customers to choose the watch of their choice with an affordable price. It offers about 14 different names with about 1000 plus different varieties with a watch for literallyeveryone.3. Exclusive products: Today Titan holds the pride for say that its products both within the country and internationally run in battle position. Its EDGE is the slimmest watch in the world position. Contribution of owned brands and retail. The profit is accounted by being in the retail space which is booming Watches are available with popular functions like dates, multifunctionalities and chronographic.. Guarantee and warranty for certain period is ascertained to the customers.
Weaknesses
Pricing: The average price of Titan in mid-price segment is very high than the other competitors. Average price for Titan is Rs.1100 while the price for HMT isRs.550. In the mid-price segment the company is not performing up to the mark due to the lack of choice of consumers.2. Market share: As the average price of Titan wristwatch is far more than the other competitor, Titan has less market share. The market is more demonstrate by middle class people and for them Titan is quite costly. Among 75% market share is in mid-segment and Titans market share is between 18-20% which is far lower than HMT and Timex.3. Globalized: The company is not sufficiently globalized in spite of being the market leader in the Indian soil.
Opportunities
Seasonality:
At the time of festival, like Diwali Titan promotes Nebula, Bandhan because there is demand for the products. - Gold watches and pairs are used during the wedding occasions. The fast track brand is promoted in month of June-August when schools and colleges re-opens. 2. Gifting concept: Titan started as a brand which was associated with gifting and relations. 3. Exchanging offer: The Titan gives the exchange offer for any old watch, of any make, in any condition functional or otherwise and get a flat discount of 25% on the purchase of a brand new, stylish and technologically advanced watch from Titan.
Threats
. Competitor:
Lots of foreign brands are entering in our country with thei r branded watches. As the removal of quantitative restrictions on import watches lead to a threat to Titan. 2. Premium segment: As in premium segment Titan is getting threats from reputed international brand such as Espirit, Swatch and Citizen.etc 3. Mobile: Nowadays people can get the time and the other feature on mobile phone. So, the need of wristwatch is in decreasing trend.
Watches from Titan.
Nebula(jewellery collection) Regalia( gold) Psi2000 ( sports ) Classique ( formals) Bandhan (gifting) Royale Spectra Titan fast track Technology (2350 -8200) Raga and sliver raga ( for women). Wow(children)
B2b strategy
Objective : To make watches a perfect gift for every
individual and organisation.
Target customers : Government offices, Lic ,call canters,
public sector companies ,hotels, event management companies , MNC, sports clubs , gift shops etc.
Promotion : Business directories, emails, exhibitions ,
business magazine , Gift shops etc.
Executing the strategy
Cold calling.
Personal visit. Demonstration of product.
Discounted pricing.
Tour and other scheme (if required). Handling objections. Closing.
Watch you !!!!!
