SWOT ANALYSIS AND BCG MATRIX
Submitted To, Dr. GHS Prasad Associate Professor, FMS Department, NIFT, Hyderbad.
SUBMITTED ON: 31st AUGUST 2012
Submitted By, Deepika Sarode, 2nd Year 1st Semester, FMS Department, NIFT, Hyderabad.
. Received Best Design Award in Lifestyle Product Category Organized by Business World.5 mm) Four years of intensive R&D.TITAN OF INDIA HISTORY Titan watch division was started in 1987. Vision: Vision: To be a world-class. innovative and progressive organization and to build India‟s most desirable brands. Values and Standards: Values and Standards Total customer orientation Employee appreciation Performance culture and teamwork Creativity and Innovation Passion for excellence Corporate Citizenship TITAN’S Businesses: TITAN‟S Businesses Watches. and setup a strong distribution network across India. At launch it was the third watch company in India after HMT and Allwyn. It is the world‟s fifth largest and India‟s leading manufacturer of watches. and to contribute to the community. It is a joint venture between one of India's most respected business organizations. which lasted until 1998. Precision Engineering Currently Marketing Products in 26 countries with a larger footprint in the Middle East and Asia-Pacific regions Prescription Eyewear Innovation: Innovation Creation of Edge Slimmest commercially available watch “in the
universe”. Produced indigenously. and the Tamil Nadu Industrial Development Corporation (TIDCO). the Tata Group. Jewellery.(thickness: 3. Mission: Mission: To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach. Titan formed a joint venture with Timex.
Octane Growth: Nebula.3 amongst the top Life style Brands in the watches category by Business Today ( Oman) for the third year in a row Product: Product Product type convenience specialty Segmentation of TITAN Watch Market segmentation Based on user category Competitive prices Product life cycle: Product life cycle Sales Time Introduction: WWF. Every Ford Mondeo car rolling out of the plant in Genk. Total export sales of over Rs 100 crores in 2006-07 Ranked No. Now present in 26 countries outside India Among the top 3 brands in some Asian countries Selling 650k watches annually with increasing presence in jewellery. Dash Decline: Aqura
. Edge etc Maturity: Sonata. Raga.Retail Stores: Retail Stores ALL INDIA 10000 Dealers 2300 Towns World Of Titan 177 Showrooms 104 Towns Time Zones 119 Multi-brand-stores 90 Towns Service Centers 616 Centers 314 Towns Cutting Edge Technology: Cutting Edge Technology The Design Studio: Excellent Watch and Jewellery design. Insignia. Regalia. Has international award winning designs to its credit. Diva. Royal. Fastrack. Belgium has a Titan Clock. INTERNATIONAL BUSINESS: INTERNATIONAL BUSINESS One of India‟s first companies to market a consumer brand overseas. Zoop. Sophisticated Design & Development Centre Advanced Pro-E workstations and prototyping facility. Orion.
Octane and WWF. The Titan portfolio has over 60% share in the domestic market Share in the organized watch market.430.830. 4. To ensure adominant presence in the market the company has showrooms in every nook and corner of the country that caters to the needs of every segment of the people.420-4.Titan collections and customer and price based segmentation:
that are young and distinctive.550-1. Unique. delicate and feminine with each piece being truly.140
combines the sturdiness of steel with the richness of gold.500-5. Price: 10.
.960-2. Price: Rs. Price: Rs.
dateless styling and design simplicity.200
embellished with precious stones. It has several popular brands in its fold including Heritage. Regalia.595-1. It is elegant.000-45. -8. Exclusive watches for women. Price: Rs.1. Magic in gold and unique futuristic material.000. Price: Rs. imed at Upper Class.000 Titan Industries is the world's fifth largest and India's leading manufacturer of watches. Price: Rs. aimed at: Upper Middle Class – Upper Class.650-1830 plated cases matched with exquisite gold-plated straps.085. Price: Rs. Price: Rs. Aviator.1725-7770
Haven‟t penetrated the global market as some other international watch makers 2. Rural market may be tapped. Threats: 1. Introducing waterproof watches. India's leading watch manufacturer and the world's fifth largest. 2. in the organized watch market.SWOT Analysis •Titan has a domestic market share of 60 per cent. Strengths: 1. 6. Gifting concept 4. Their global sourcing and economies of scale give a significant price advantage and enable to offer an easy entry for consumers to the branded world at this price point. 3. Pricing 3. Competitors: Premium segment: Mobile:
. Exchanging offer 5. The varied offerings to diverse segments with a clear cut positioning. 3. Innovation is core to its strategy. Low market share as compare to the other watch manufacturers. Seasonality 3. Weakness: 1. Titan is the leader in the watch market of India 2. Distributing channels 2. Opportunities: 1.
The company has 247 exclusive showrooms christened World of Titan'. The initial range was 350 models. 20. The company has manufactured more than a 100 million watches till date. Titan offered Aurum and Royale in the gold / jewellery watch range.Strengths: 1. 1 lakh. 2. High Income Segment: This is for high income/ elite consumers who buy watch as a fashion accessory not as a mere instrument showing time. As such they keep on changing their model as per the taste and preference of customers. They are also willing to buy a watch on impulse. Titan invests a good amount of money for their research and new innovation. These segments are determined based on benefit and income level. Being owned by Tata group. Titan Industries is the world's fifth largest and India's leading manufacturer of watches. functions and price. it has a good „Tata‟ culture. Titan has the government support. and has a customer base of over 80 million. making it amongst the largest chains in its category backed by 700 after-sales-service centers. Titan decided to inundate consumers with a wide choice in style. Titan is the leader in the watch market of India Tata group being is one of the respected groups in India.000 and Rs. They care for their employees. Retailer: Titan brought in the concept of retailing into the watch market. The Titan portfolio has over 60% of the domestic market share in the organized watch market. The varied offerings to diverse segments with a clear cut positioning. The price tag does not matter to them. which would later become the world's largest network of exclusive watch stores. The Company has a world-class design studio that constantly invents new trends in wrist watches. After carrying out an in-depth market study.
. The prices are between Rs. established a network of fine showrooms. Titan identified three distinct market segments for its watches.
aimed at withstanding the rigors of daily life. 3. Weakness: 1. 500-700. Cutting Edge Technology The Design Studio: Excellent Watch and Jewellery design. it offered the SONATA range. While they have the capacity to pay the price required for a good watch. they will not purchase a watch without comparing various offers in the market. Haven’t penetrated the global market as some other international watch makers Retail Stores: Retail Stores ALL INDIA
. Innovation is core to its strategy: Innovation Creation of Edge Slimmest commercially available watch “in the universe”. when the arrangement with Timex was terminated.5 mm and a wafer thin movement of 1. (thickness: 3. For this segment. Low Income Segment: The third segment consists of the lower-income consumers who see a watch mainly as a time-keeping device and buy mainly on the basis of price.Titan Edge.5 mm) Four years of intensive R&D. Titan Industries has claimed to have manufactured the world's slimmest wrist watch . The price range is Rs. The price range was Rs. 350-500. Received Best Design Award in Lifestyle Product Category Organized by Business World. Has international award winning designs to its credit. Titan also offered the RAGA range for women in this segment. Belgium has a Titan Clock. Every Ford Mondeo car rolling out of the plant in Genk. Titan offered the Exacta range in stainless steel. Produced indigenously. Produced indigenously after four years of research and development.Medium Income Segment: These consumers prefer some fashion in their watches but to them price does matter.15 mm. Sophisticated Design & Development Centre Advanced Pro-E workstations and prototyping facility. Titan first offered the TIMEX watches and later. the Titan Edge has a total slimness of just 3.
titan raga.Towns Service Centers 616 .
Globalized: As the company is Indian based which leads it to the strength. In the mid-price segment the company is not performing up to the mark due to the lack of choice of consumers.Towns Time Zones 119 . nebula are least selling variants as they are premium. Average price for Titan is Rs.550.Multi-brand-stores 90 . where as it is the weakness also because the company not sufficiently globalized 2. Low cost watches like sonata. are present in most of the developed countries. Tag Heuer. Main USP is low cost watch.Centers 314 .10000 .Towns Titan watches are exported in over 40 countries.Showrooms 104 . Pricing: The average price of Titan in mid-price segment is very high than the other competitor.
. and octane are most selling while xylus.Towns World Of Titan 177 . Rolex.Dealers 2300 .1100 while the price for HMT is Rs. Swatch.
At the time of festival. Distributing channels: Nearly 34 million watches are sold through gray market channels. in any condition functional or otherwise and receive a flat discount of 25% on their purchase of a brand new. Gifting concept Titan started as a brand which was associated with gifting and relation. 2. . Opportunities: 1. Exchanging offer Rural market. The fight concept sells well for people have come to associate Titan with love care and makes emotion run high. of any make. Exchanging offer The Titan stores offer exchange offer of any old watch. Titan has less market share. The market is more demonstrate by middle class people and for them Titan is quite costly. stylish and technologically advanced watch from Titan. 3. The fast track brand is promoted in month of June-August when schools and colleges re-open.3. people like to possess multiple watches for different occasions and events. compared with 250 watches per 1. like Diwali Titan promotes Nebula. Titan market share is between 18-20% which is far lower than HMT and Maxima. 2.000 people in a developed society. Currently.Gold watches and pairs are the like as a wedding occasion. Market share As the average price of Titan wristwatch is far more than the other competitor. sales in India stand at an low number of 25 watches per 1. Seasonality With a changing consumer attitude.000 people.
. Among 75% market share in mid-segment. Bandhan because there is demand for the products.
Premium international watch brands such as Swatch. Unorganized sector/ Grey market. the need of wristwatch is in decreasing trend. Tissot. Mobile: Mobile phones acting as substitutes of the watches Now a days people can get the time and the other feature in mobile phone. Tissot. Threats 1.D.Rolex. So. Swatch and Citizen. Esprit. Rado. particularly in the premium segment 3. Longines. Casio b. Omega. People can talk and see the time in a cell phone and some people think that there is no need of wristwatch.
. it will be extremely difficult for the Indian players to maintain a sustainable growth. Citizen. Competitors: Too many players will dilute the market& the profit margin As we know that lots of Foreign brands are entering in our country with their branded watches. etc. Chinese watches d.
Now that the Indian market is widely open to importations. c. 2. As the removal of quantitative restrictions on import watches leads to threat to titan. Rado and Omega entered in India. Swiss.Citizen. a. Tag Heur. Premium segment: As in premium segment Titan is getting threats from reputed international brand such as Espirit. Stiff Competition faced by foreign brands. Japanese.
Competitors: 1. Citizen 4. Casio 3. Tag Heuer
. Rolex 6. Timex 2. Swatch 5.
Jharokha. Konark. Earlier they had launched Heritage collection about a year back based on beautiful monument of India including The Taj-Mahal. Cash Cow: It basically includes the watches Fast Track. ? (Infinity): As the titan launched the 4 feet tall watch replica created by the acclaimed by the sculptor artist Mr.
TITAN . EDGE and NEBULA. Here we are considering the different watches as in different segment according to its performance as well as the market share.BCG matrix helps to understand the watches playing a important role for titan industries. Red Panda . Arun Verma. The replica was launched on 13th August 2008 in Delhi. Ajanta.WWF as the market growth is also high there.
.WWF: The Titan. Pectra for the titan.WWF collection is inspired from six species namely the Tiger. As in this segment these watches are playing important role so it require certain amount of money which will help it out to sustain into the market as well help in liquidity. Lakshmi Vials Place. Indian Rahino Gnagetic river Dolphin . It includes the watches namely REGALIA. The INFINITY this unique 4 feet tall watch weight around 70 kgs with solid circumference of 8 feet and width of 30 inches. This watch contains 800 dials and 1800 straps.Whale shark and Oliver Ridley Turtle. Exacta. As it is the new collection it requires more investment for Tiatn .
com http://www.com www.com/doc/19029098/Titan-Brand-Auditdps http://www.com www.titanwold.html http://www.economictimes.google.scribd.indianfoline.authorstream.thehindu.com www.com/brandguide/lifestyle-and-retail/2666-titan.com www.com www.REFERENCES www.tatagroup.com/titan www.com/Presentation/kaifi-238115-titan-education-ppt-powerpoint/