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TITAN INDUSTRIES-WATCHES(MARKETING PLAN)
 
BY ASHUTOSH 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
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High income group
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Middle income group, and
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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 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
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lakme1

can you mail me the marketing plan and business plan on titan industries it will really helpful for me

reply02 / 17 / 2010
ssvd25

can u mail me its doc i hav a project on tittan at ssvd25@yahoo.com. it will b really helpful for me

reply10 / 12 / 2009
akgicbm

good work dear........................

reply08 / 30 / 2009
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