The paper 'Titan Watches and Strategies for Its Market" is a good example of a marketing case study. This report summarizes an in-dept analysis of Titan Watches and assesses strategies for its market. Titan Watches is a product of Titan Industries Limited, an extremely successful company in India having captured more than 50% of the market. It has penetrated the global market having established the Titan brand in many centers in Europe, Asia Pacific and the Middle East. The objective of the report is to perform an in-depth analysis of the watch industry, including Titan Industries Limited and develop strategic marketing tools that will help in the marketing decision of Titan Watches. 1.
Strategic Plan The strategic plan will be a management tool that will present the direction and goals of Titan Watches in response to the understanding of what the customer needs, and the current opportunities and challenges that the company is facing. The first five-year period of this strategic plan will focus on appraising and deepening Titan Watches’ approaches to its brand marketing work. Concurrently, Titan Watches will take more of a leadership role in the watch industry developing a market focus that is yet untapped in global standing, while protecting its image in India. 1.1 Vision In the coming years, the company is envisioned to be a world leader in the watch and jewelry business being at par with the Swiss and Japanese watches and capturing a large global market. 1.2 Mission Having established itself well in the Indian Market, Titan Watches’ mission is: Establishing a substantial and unique brand presence by developing lucrative niches in the global market such as the UK and USA 1.3 Summary of the Environmental Scan One of the most important parts of the strategic plan is a summary of the environmental scan which documents and determines facts and trends in the environment of an organization that will likely affect it. 1.3.1 PEST Analysis The PEST analysis helps to scan the external macro-environment in which the company operates.
It assesses the Political, Economic, Social, and Technological factors.
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