Titan Watches Essay Example for Free

Titan Watches EssayThe market surveys show that b arely 20% of adult Indians own a watch and ab aside 90% of them own a single watch. So as to sustain and strive in this scenario, a party has to market itself well. Among those trade strategy employ by the companies, one is STP (segmentation, targeting, positioning) ANALYSIS. Here, STP analysis is done for a company which has got the highest market portion in the watch market of India and it is TITAN. As the worlds sixth largest manufacturer brand of watches, the companys products win 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 assembly of Companies and it was established in 1984. Titan Industries Ltd has split its principal(prenominal)line watch business into two-Sonata and Titan. As their managing film director says,volume growth will come from Sonata and value growth from Titan. CURRENT AFFAIRS emersion Ra te 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 by August 2007, in order to provoke 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 a three-fold growth. The STP Process SEGMENTATION Dividing the market by mathematical group the customer with similar tastes and preferences into one segment is called is called segmentation. Segmentation help marketers understand the needs of divers(prenominal) customers better and serve them with better value propositions. A market comprises of different consumers possessing innumerable tastes and preferences. Depending n their marketing approach and the nature of the products marketers can adopt different level s of segmentation. The levels of market segmentation are Segment Marketing Individual Marketing Niche Mark eting Local MarketingSegmentation is in any case sometimes identifying, capturing and retaining potential new markets. TITAN PERSPECTIVE Titan has segmented its business into three main categories ? ? ? Mass Mid-premium luxury