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    Case Study On Titan

    Uploaded by

    Tejas Chandanshive
    The document discusses market segmentation strategies for Titan watches. Titan segments its business into three main categories: mid-premium segment, focus on youth, and luxury. It analyzes Titan's segmentation criteria including geographic, psychographic, and behavioral segmentation. The key strategies proposed to target these segmented markets include catering to different occasions and fashion trends in India, promoting unique high-tech designs, allowing customization, and adjusting prices to be competitive.

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    Case Study On Titan

    Uploaded by

    Tejas Chandanshive
    193 views2 pages
    The document discusses market segmentation strategies for Titan watches. Titan segments its business into three main categories: mid-premium segment, focus on youth, and luxury. It analyzes Titan's segmentation criteria including geographic, psychographic, and behavioral segmentation. The key strategies proposed to target these segmented markets include catering to different occasions and fashion trends in India, promoting unique high-tech designs, allowing customization, and adjusting prices to be competitive.

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    CASE STUDY ON TITAN

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    The document discusses market segmentation strategies for Titan watches. Titan segments its business into three main categories: mid-premium segment, focus on youth, and luxury. It analyzes Titan's segmentation criteria including geographic, psychographic, and behavioral segmentation. The key strategies proposed to target these segmented markets include catering to different occasions and fashion trends in India, promoting unique high-tech designs, allowing customization, and adjusting prices to be competitive.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    193 views2 pages

    Case Study On Titan

    Uploaded by

    Tejas Chandanshive
    The document discusses market segmentation strategies for Titan watches. Titan segments its business into three main categories: mid-premium segment, focus on youth, and luxury. It analyzes Titan's segmentation criteria including geographic, psychographic, and behavioral segmentation. The key strategies proposed to target these segmented markets include catering to different occasions and fashion trends in India, promoting unique high-tech designs, allowing customization, and adjusting prices to be competitive.

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    © All Rights Reserved
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    of 2

    CASE STUDY ON THE MUSINGS OF

    TITAN 
    Q. Analyse the case in detail and explain the segmentation criteria for Titan watches, and
    also explain in detail your strategy to target the segmented market. 

    There are various types of customers, each with their own set of requirements. When it comes to
    market segmentation, need-based segmentation is the indisputable champion. It's possible that a
    segment has another useful identifying trait that can be used to identify it. A variety of
    perspectives are imbibed by the variable by which a market is split.

    The Titan watch has segmented its business into three main categories:  

     Mid-premium segment
     Focus on youth
     Luxury 
    The titan was founded in 1984, and 96 years later, they have opted to seek specialised niches,
    something no other competitor brand has done before. As a result, they gambled and were
    rewarded handsomely. To make money, survive, maintain market share, and lead successfully, we
    must first meet the wants and desires of our clients and as the customers come in all forms and
    sizes, each with their own set of requirements.

    Market Segmentation:
    According to Philips Kotler, market segmentation can be defined as – “The act of dividing a market
    into distinct groups of buyers who might require separate products and/or marketing mixes.” 

    According to Wendell Smith, marketing segmentation can be defined as marketing segmentation can
    be defined as – “Consists of heterogeneous market as a number of smaller homogeneous markets in
    response to differing product preferences among important market segments.” 

    The Titan’s Segmentation Criteria for Watches are differentiable, accessible, actionable,


    measurable, substantial and profitable. 

    The following is my take on segmented market targeting: -

    A market segmentation plan, in my perspective, divides our client or business base along
    demographic, regional, behavioural, or psychographic lines, or a mix of these factors. A commercial
    strategy for splitting a large target market into smaller, more manageable divisions is market
    segmentation. I noticed the importance of market segmentation through the titan watches case
    study market, and they targeted their market primarily on these three criteria:
     Mid-premium segment-Provide superior service and design.
     Focus on youth -Providing better designs. 
     Luxury- Above-average products and services.

    Types of Market Segmentation: 

    1.Titan's geographic segmentation- It is primarily based on rural and urban areas. It has Sonata for
    the rural market and Fast Track, HTSE for the urban market.
    2. Psychographic Segmentation -It’s a sort of market segmentation used in marketing research that
    divides customers into sub-groups based on similar psychological characteristics, such as
    subconscious or conscious beliefs, desires, and priorities, in order to explain and predict customer
    behaviour.

    3.Behavioural Segmentation It is the process of breaking a large consumer or company market,


    various range, based on occasion as formal wear, fashion etc. For example, Titan introduced Flip for
    its loyal customers.

    My strategy to target the segmented market

     Due to emerge the fashion trends Indian prefers have different variety watch in
    different occasion. So, nowadays most of the Indian has possess more than one
    watch. Furthermore, with the improve technology in India, online selling is a great
    distribution channel for Titan. Through the online selling Titan can gain more market
    share.
     Titan should let consumer to know that its product is very unique and able offer a
    wristwatch which has many functions, high-tech design, price affordable, good
    quality and services which competitors are difficult to duplicate it.
     Titan provides a choice for customer to customize the wristwatch. 
     Titan should adjust the price match with the competitors offering because these
    segment consumers are very price sensitive.

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