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Titan Market Research Project

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Market Research Project on Titan and Launch of Titan Smart watch

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Titan Market Research Project

  1. 1. Presented By: Madhur Khatore – PG14001 Manil Bangera – PG14047 Sneha Tyagi – PG14050 Suraj Kanojia – PG14140
  2. 2. Market Share 5% 21% 61% 7% 4% 2% Citizen Timex Titan Casio FastTrack Others Indian Watch industry is estimated to be around 1600 crores and Titan is riding on top of it with a market share of over 60%
  3. 3. Smart-watch Market in India 2015 •There is a huge market for smart watches with well established mobile phone brands as major players. •There is no watch brand in this market.
  4. 4. Study Background & Need for Research • Titan has been the Timekeeper of the Indian middle- class for decades • With International Brands flooding the market competition has spurred company to diversify • Only 5% of its total revenue comes from premium watch brands such as Zoya, Xylys and Nebula • Now the main question is whether Titan can become a Premium Watch Brand?
  5. 5. Type Problem Definition 1. Product Titan Watches 2. Market West Zone with special reference to Mumbai 3. Market Segment Titan has segmented its business into 3 categories 1. Mid-premium segment 2. Focus on the youth 3. Mass market 4. Current Mkt Share 60% in overall market of Watch Industry 5. Problem Out of total revenue only 5% of income comes from sale of Premium Titan Watches. Rest of the high end segment is dominated by Foreign players 6. MR Problem To find out the reasons for shortfall in our growth rate in Premium Titan Watches segments & suggest specific strategies to overcome it.
  6. 6. Problem Definition • Not too many consumers are purchasing Titan’s Premium watches(Zoya, Xylys and Nebula) while other watches in the same segment are doing well. Can Titan become a Premium Watch Brand? • If Titan comes out with Smart watches will consumers purchase smart watches made by Titan?
  7. 7. Type of Research • Causal Research find the reason why consumers are not buying Titan premium Brand watch. • Predictive Research we are making an attempts to predict the future outcome of launch of Titan Smartwatch in India
  8. 8. Research Objectives • To Find out Brand Image of Titan in the minds of the consumers • To Find out why high income group consumers are not purchasing Premium Titan Watches. • To find if prospect customers of Titan are positive and willing to make purchases, when Titan comes out with a Smart watch. • To find out what features they look for in the smart watch.
  9. 9. Information To Be Explored • To know about perception of consumers towards Titan. • To understand what the consumer desires are from the product • Analysing the buying pattern of consumers.
  10. 10. Research Design
  11. 11. Research Methodology •Interviewing Method: Live Interviews & Questionnaire •Market: Mumbai •Target Group: Potential and Existing users of Titan watch Age: 20 years and above. Sex: Male and Females. Income: 40K and above.
  12. 12. Sampling Methodology • Population Definition: Owners & Potential users of Titan watch High end watches – 30 yrs and above Smart watches – 20 yrs and above • Sampling Frame For existing customers: Database of Titan For potential customers: People visiting showrooms of premium watch brands. • Sampling Method For existing customers: Probabilistic (Random) For potential customers: Non Probabilistic (Convenient Sampling Method)
  13. 13. •Where will you meet the respondents? For existing customers: Take an appointment Malls Watch Retail Outlets •Approximate Sample Size 1000 Sampling Methodology cont….
  14. 14. THANK YOU
  • RushilPatel47

    Dec. 15, 2020
  • BhagirathsinhRathore

    Nov. 21, 2018
  • LavleenKaur10

    Mar. 13, 2018
  • anthonybeyer

    Nov. 30, 2015

Market Research Project on Titan and Launch of Titan Smart watch

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