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Marketing Plan for Titan Industry

Marketing Plan for Titan Industry

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Published by chikoo_ashusingh
This is Marketing Plan which will give you clear view how titan Industry is applying their Marketing Mix to archive the concerned objective..............
pls give ur feedback to .......me ...........on

chikoo.ashu@gmail.com,or chikoo_ashusingh@yahoo.co.in
This is Marketing Plan which will give you clear view how titan Industry is applying their Marketing Mix to archive the concerned objective..............
pls give ur feedback to .......me ...........on

chikoo.ashu@gmail.com,or chikoo_ashusingh@yahoo.co.in

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Categories:Types, Research
Published by: chikoo_ashusingh on Jun 09, 2009
Copyright:Attribution Non-commercial

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04/08/2013

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TITAN INDUSTRIES-WATCHES(MARKETING PLAN)
 
BASHUTOSH KUMAR SINGH&NETAI KHATUAFROMICBM –SCHOOL OF BUSINESSEXCELLENCE
ASHUTOSH KUMAR SINGH6/3/2009
 
 TITAN INDUSTRIES-WATCHES
Executive summary:
Titan’s watch segment is the India’s chief producer of watches and ranks fifth in the world in production of watches.Company really understands the psyche of consumer and they offered quality products inclassical design with superior technology.Today the company has model for every prices segment and every market. Basically it deals withthree target market
High income group
Middle income group, and
Lower income groupTitan alone holds 70% market share in domestic level whereas 60% in organized market.As our Marketing Objectives is to increases Market Share of the company by 5% in the comingyear as well as to increase the profitability of the company by 10%.The competitor are also playing an important role to grab the market share .We as the Marketer try to increase the market share by grabbing the opportunity from other company. To achievethis the company have to follow the marketing strategies, which basically include theMARKETING MIX.The marketing strategies basically include the 4 ps .There the marketer have to focus at first on PRICE ,which basically for The titan is notaffordable in the Mid –Segment, where as the competitor like HMT and Maxima are doing good business by holding market share of 45% where as titan hold the only the 32%,there fore it isimportant for the company to reduce price in mid –segment.
ICBM-School of Business ExcellencePage 2
 
 TITAN INDUSTRIES-WATCHES
Though in the improperness or in innovation of the Product, Titan doing well, but there is needof few changes. For example HMT, the nearest competitor innovate ‘BLUE CHIP’ in thewatches.We also have to implement this type of innovation to bring the flexibleness in our product.As it is also important to do some creativity in advertisement by showing the importance oTime to the mass. The company brand promoter is Amir Khan but the company can make itattractive by endorsing Katrina Kiaf .The place can be taken into consideration ,as it is need foe the company to open some showrooms in the rural area and as the company don/t have so much market share in the foreignmarket ,so to expand the business company should launch its showroom all over the globe inthe more number.
Market share of the competitor in domestic market
HMT19%Maxima13%Rado7%Casio3%The strongest selling point of Titan is that it is available and affordable. Titan provides watchesfor all segments, like from low-cost Sonata for first time user, Fast-track for the trendy young,Dash for the kids, and the higher priced Regalia and Nebula to the premium segment customer.The Indian watch market is estimated at 25 million watches a year, where the domestic sales is 6million watches per annum. The rural segment is the diverse market in the present scenario. Thekey success story of Titan is capturing the rural market on a large scale. The range costs is between Rs. 495 to Rs. 1200. And the model is available exclusively in all showrooms and issold mainly in small-town in India.
ICBM-School of Business ExcellencePage 3

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