Name Nidhi Sharma (MBA 1st Sem.

Type Industry Founded Founder(s) Headquarters Area served

Joint venture Watches 1987 Ratan Tata Bangalore, India 4 continent and 40 countries. India and other countries esp.Middle east, Asia Pacific and Africa

Key people

Xerxes Desai, Founder

Products

Watches, Jewellery, Eyewear & Precision Engineering

Revenue

6,532.97 crore (US$1.32 billion)

Parent Website

Tata Group www.titanworld.com

 REPORT: Titan Industries is the world's fifth largest wrist watch manufacturer and India's leading producer of watches under the Titan, Fastrack, Sonata, Nebula, RAGA, Regalia, Octane & Xylys brand names. It is a joint venture between the Tata Group, and the TIDCO. Its product portfolio includes watches, accessories and jewellery, in both contemporary and traditional designs. It exports watches to about 32 countries around the world with manufacturing facilities in Hosur, Dehradun, Goa and manufactures precious jewellery under the Tanishq brand name, making it India's only national jewellery brand. It is a subsidiary of the Tata Group.

INTRODUCTION Titan industries limited- a joint venture of The Tamil nadu industrial development corporation and Tata group of industries was setup in 1987 under the leadership of Xerxes desai who was the vice chairman and the managing director of the company. Initially, Titan entered the market as a watch manufacturing company. Then later in 1995, it entered into the manufacturing of precious jewellery segment under the brand name Tanishq .

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The company also manufacturers charismatic decorative table clocks in many classical and ethnic styles. Titan watches currently hold 25% of share in Indian watch market. Its manufacturing facility includes a buildup area off 33000 sq.meters that employs around 3700 personnel s. Its main manufacturing plants are located in Hosur in Tamil nadu with an assembly unit in Dehra Dun in Uttar Pradesh. It has also come up with an electronic circuitry manufacturing division in Goa. The companies headquarter is located in Bangalore.

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In a short period of time, Titan has built an inevitable name for its products, services and corporate practices. In a survey conducted by Economic times, Titan was voted as India s most admired brand . Infact Titan industries were also ranked as India s leading consumer durable marketing company for seven consecutive years from 1993-1999.

SCANNING
Environmental scanning can be defined as the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market.

Modes of scanning:- There are three modes of scanning the business environment: Systematic scanning Ad hoc scanning Processed-form scanning

 Systematic scanning Information related to markets and customers, changes in legislation, regulations having a direct impact on the organization's activities, government policy etc are collected continuously by taking relevant factors into account.

 Ad-hoc scanning Conducting special surveys and studies to deal with environmental issues from time to time.

Processed-form scanning Using information in a processed form available from different sources inside and outside the organization.

Scanning

SWOT

PEST

Strengths SWOT Weaknesses Opportunities Threats

POSITIVE/ HELPFUL to achieving the goal

NEGATIVE/ HARMFUL to achieving the goal

INTERNAL Origin facts/ factors of the organization

Strengths Things that are good now, maintain them, build on them and use as leverage

Weaknesses Things that are bad now, remedy, change or stop them.

EXTERNAL Origin facts/ factors of the environment in which the organization operates

Opportunities Things that are good for the future, prioritize them, capture them, build on them and optimize

Threats Things that are bad for the future, put in plans to manage them or counter them

 Strengths
a) The quality of watches is impressive. b) Innovation is core to its strategy. c) Visual Merchandizing has been Titan s strength ever since its inception. e) Good retail network by WORLD OF TITAN f) Excellent customer service.

 Weaknesses:-a) Waterproof watches not a part of its kitty. b) Rural India does not form a substantial part of customer base. c) Kids are fascinated with mobile phones rather than watches and incidentally, they show the time.

 Opportunities a) Under-find out market for watches as only 35% (approximately) of Indian population possesses watches. b) Watches positioned as a fashion wear rather than just utility products. c) Huge market in the exchange business. d) Introducing water proof watches. e) Rural market may be tapped

 Threats From competitors a) Japanese- Citizen, Casio b) Chinese watches c) Unorganized sector/ Grey market. d) Mobile phones and wall clocks are a substitute to watches. e) The fashion trend keeps on changing.

PEST

PEST analysis:A PEST analysis is an analysis of the external macroenvironment that affects all firms. P.E.S.T. is an acronym for the Political-legal, Economic, Sociocultural, and Technological factors of the external macro environment. The PEST analysis is particularly useful for strategic managers in international business which operate in a number of different national environments.

 POLITICAL ENVIRONMENT The political situation in India has been that of unrest. The current economic policy imposes huge tax burdens on each players of the economy, thus reducing profit margins. Uncertainty is very high in terms of different government dictating terms and conditions every now and then.

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The tax imposed by the government on big industries is forcing them either to shut down or to shift there manufacturing facilities abroad. The removal of Quantitative Restrictions has seen a flood of international players getting into the Indian market. Titan is somehow a victim of this as in-house production is very expensive.

Cont . We will manufacture only if we can do it faster and cheaper than anyone else in the world, - xexras desai It simply costs low to Titan watches if it imports the components from abroad and the just assemble it.

 ECONOMIC ENVIRONMENT The Indian government is currently going through a recession period characterized by a very slow increase in GDP, high inflation and high unemployment plus there is a reduction in disposable income with people. Clearly, despite a dismal domestic environment where lower-priced even spurious products have been flooding the mushrooming grey market, more than half of the approximately 25 million watches sold in India are smuggled or made out of smuggled parts.

 SOCIAL ENVIRONMENT Titan is fully committed towards making a contribution to the environment by minimizing the impact of its activities on the environment. From the very beginning, Titan has been an environmentally conscious company and puts its policies into action by choosing the right technologies, continuously investing in new technologies to reduce material consumption, energy consumption and to minimise air, water and pollution due to solid waste generation.

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Titan ensures that products meet or exceed Health, Safety and Environmental requirements. The company has also started employing the women labour force for its sideline activities like cooking food for employees, laundry etc. All working premises of Titan are non-smoking zones and a lot of emphasis is given to create green areas in the factories and neighbourhood. Titan has planted more than 10,000 trees in and around Hosur to create Green belt through its volunteers

TECHNOLOGICAL ENVIRONMENT Titan industries have one of the world s most sophisticated plants to manufacture the watches. The technicians from Europe train the Indian employees of the company. The company regularly upgrades its technology. It has ability to plate tiny watches parts with uniform thickness. The plating process is carried out in a closed chamber. The company has taken additional measures to avoid the emission of toxic fumes. The people who are working are not exposed to the plating chemicals.

CONCLUSION: Titan is growing rapidly and has successful operations. All these can be confirmed from lots of information. Titan has obtained a high reputation in a short period. As a latecomer of watch industry of India, the company surpassed the formers and has got the first position of marketing share. As a watch company, Titan founded a famous jewelry brand successfully. It adopted appropriate marketing strategies which defeated competitors, meanwhile expanded its marketing share on local market.