INTRODUCTION
The market surveys show that barely 20% of adult Indians own a watch and about 90% of themown a single watch. So as to sustain and strive in this scenario, a company has to market itself well. Among those marketing strategy applied by the companies, one is
STP
(
segmentation
,
targeting, positioning
)
ANALYSIS
. Here, STP analysis is done for a company which has gotthe highest market share in the watch market of India and it is
TITAN.
As the
world’s sixthlargest manufacturer
brand of watches, the company's products attract the classes and masses both.The 960-crore
Titan Industries Ltd
(TIL) is a conglomerate between the
Tamil Nadu industrial Development Corporation
and the
Tata Group of Companies
and it was
established in 1984
. Titan Industries Ltd has
split
its mainline watch business into two:-
Sonata
and
Titan
. As their managing director says,”
volume growth will come from Sonata and value growth from Titan
”.
CURRENT AFFAIRS:
Growth Rate:
Titan is maintaining a
growth rate of 30-35%.Future Plans:
✔
Titan is planning to roll out its own
Swiss
made premium watches
brand `
Xylys
'
byAugust 2007, in order to lure the watch market. Xylys would be competing with premium international brands including
Tissot
and
Rado
.
✔
Titan is aiming to be a
$1 billion company by 2010
(Rs 4,700) crore hence acquiring athree-fold growth.
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