Strategy Plan of Titan Watch Industry in India
The second part of the report is discussed about how to converting changes the segmentation, marketing goals, marketing strategies and marketing mix of Titan to improve the future performance. In order to gain more market share Titan should create the new segmentation. Titan should use geographic (cities variable) and demographic (age variable) to segment the market. Titan should target the Mizoram and Manipur (rural market) and target the youth group which is 13 until 30 years old. For the youth group, Titan should position on benefits on its watches. Moreover, goal is very important it able help Titan to focus the specific aim and achieve it. So, Titan should set the SMART goal to gain 15% market share in the Mizoram and Manipur market. In addition, Titan should use the Ansoff Matrix approach to growth the business and target the new consumer. Finally, Titan should change the marketing mix to fulfill different customer needs. Titan should use the specific innovative product strategy, competitive pricing strategy, provide online shopping, establish women outlet and use the product placement strategy to target the new customer and beat the foreign competitors.
This report is discussed about the Titan watch industry. Titan is the market leader in the India and fifth largest watch manufacture in the world. Titan established in 1984 by Xerxes Desai. In 1987, Titan joint venture with the one of the reputed organization in India, the TATA group. (Titan.com, 2008) Titan can be a market leader one of the reasons is that Titan joint venture with TATA, the watches provides by Titan is guarantee of quality which majority India consumers have faith in. Titan launched variety brand of watches, some of the sub-brand of Titan is show in the table below.
Besides that, the discussion of this report is focus on India market. The reason for consider India market because India is the fourth largest stable nation and fast-growing economy in the world. This report is divided into two parts, which is part one and part two. Part one is discussed about the PESTLE analysis, SWOT analysis and unique selling proposition of Titan. Recently, many foreign brands enter into the market of India and create strong competition. This influences Titan difficult to sustain growth in the market. So, part two is discussed about how to improve the marketing strategy of Titan to upgrade the performance in the future.(责任编辑：BUG)