Comparitive Study and Sales Promotional Stategies of Titan

5644 Words Mar 29th, 2012 23 Pages
INTRODUCTION:-

Wrist Watches form an integral part of the personality of individuals in the present era. Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item. For the watch industry, time seems in its favor what with the liberalization of the Indian market coupled with the rising purchasing power of the young and consumerist Indians

ABOUT THE WATCH MARKET IN INDIA :-

Indian watches market was for long dominated by public sector organizations like Hindustan Machine Tools Ltd. (HMT) and Allwyn (also famous for its refrigerators once upon a time!), and has now left the pioneers far behind or nowhere in market by private sector enterprises like
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Customers usually base their preferences and buying decisions on a variety of factors like price, durability, utility, aesthetic appeal and brand name. A combination of all these points ultimately forms the customer’s buying decision that translates into the purchase of a watch.

The retail sector has just begun to boom in India. Since the early 1990’s, Indian customers are relying more on departmental stores and shopping malls to purchase their wants and needs. This has come as a boon for watch manufacturers and dealers, who are now looking forward to utilize these new outlets to reach out to the Indian masses. Watch manufacturers are looking at a suitable mix to market their products ranging from exclusive retail outlets to display sections in malls and large departmental stores.

In the end, though India is still considered to be a difficult market to penetrate, due to reasons like price sensitiveness and its largely unorganized sector. However, with the right planning and the right partners and experienced collaborators, it is expected that both international and domestic watch manufacturers will do well in the Indian markets.

“TITAN”

|[pic] |
|Type |Joint venture |
|Founded |1984 |
|Headquarters