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 of Time 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