Case Summary
The XYLYS blog post highlights some of the historic challenges that Titans faced from their opponents. It addresses the strategies that Manoj Chakravarti has setup to manufacture XYLYS premium brand watches for the Indian market. Through prolonged experience, the senior advisor to Titan industries posts some of the marketing strategy that Titans Company has adopted in making premium watch brand. This watch brand is a product that competes favorably in the Indian market. Furthermore, there are some proposed feasible approaches and guide questions to be considered in formulating the possibilities of the Titan industry on manufacturing luxury watch brands.
Issues and Actions
In the presented case, it is evident that Titan Company faces stiff competition from other companies watch manufacturing in the Indian market (Mutum and Qing 253). However, such solutions as manufacture of quality watches in terms of durability, functionality, affordability, and makeup of a unique brand are the key solutions to it. Another solution is to adopt a market-mix strategy where watches of different qualities sell at distinct prices. The best solution to curb competition is by branding the product in a unique way and lowering the cost below any other compliments in terms of quality and quantity offered in the market.
The company faces another problem when designing the watches to be sold as unique brand in the market. A Swiss-made label is a symbol of elegance and beauty. In this quest, it is important that the senior advisor of the company includes this customization feature in making a unique watch brand. The customized watch brands may attract higher number of customers than in the current situation.
The company advisor proposes the application of several possibilities in nurturing the customer’s perceptions about the products. It is important for the company to conduct a research on the customers’ responses to various proposals that the company is intending to make. This factor is perceived in association with consumption and utility trends within the Indian market. From the study, the company can determine whether customer’s stereotypes are present and solve them.
Personal Takeaway
From the analysis, it is apparent that customer satisfaction and value of products are emphasized highly. In spite of the many challenges faced by Titan Company, it is practical that its strategic plan precedes the rest of the companies in the watch industry. Proper planning and implementation of the proposed plans are key strategies to facilitate business growth (Titan Launches Edge, the Slimmest Watch in the Universe par. 4).
From the blog post, a lot of information has been communicated regarding XYLYS case. The main ideas in the post have been aired in a comprehensive way.
Works Cited
Gaudeul, Alexia and Peroni, Chiara. “Reciprocal attention and norm of reciprocity in blogging networks”. Economics Bulletin 30.3 (2010): 2230-2248. Print.
Mutum, Dilip and Wang, Qing. “Consumer Generated Advertising in Blogs.” IGI Global 1.6 (2010): 248-261. Print.
Titan Launches Edge, the Slimmest Watch in the Universe 2002. Web.