Pestel Analysis of Titan Watches
Pestel analysis of Titan Watches
PESTEL analysis : Pestel stands for Political, Economical, Sociocultural, Technological Environmental, Legal analysis of the external environment affecting the business. PESTEL analysis is done by managers to understand the macro environmental factors affecting the business. These analysis are strategic tools for understanding market growth, market share, latest trends etc. * Political factors : These refer to the relevant government policies that affect the business environment. For eg. Tax policy,labour law , minimum wages law ,tariff rates etc * Economic factors : These refer to the macro economic factors that may affect the business. For eg. Inflation, Gross National Income, Gross domestic product, REPO rate, reverse Repo rate. * Socio-cultural factors : These refer to the various social and cultural factors prevalent in the business environment. For eg. Greater awarness of the people towards environment, changes in taste of the consumers, average age of the consumers etc. * Technological factors: These include the technological factors such as R&D activity, automation and other innovations which has changed the way business is conducted. For eg MP3 players, IPOD, Iphone, Tele conferencing, cloud computing to name a few. * Environmental factors: These include the environmental and ecological factors that affect the business for eg climate change, global warming, and rapid depletion of our natural resources. * Legal factors: These refer to the legal environment in which the business is conducted. For eg. Trade barriers, consumer law, anti dumping duty, corporate acts. Titan group Titan was formed in 1984 with the joint venture of Tata group and the Tamil Nadu international development corporation. It is mainly present in the watch industry although it has successfully forayed into the jewellery segment with the launch of Tanishq. Some of the notable
PESTEL analysis : Pestel stands for Political, Economical, Sociocultural, Technological Environmental, Legal analysis of the external environment affecting the business. PESTEL analysis is done by managers to understand the macro environmental factors affecting the business. These analysis are strategic tools for understanding market growth, market share, latest trends etc. * Political factors : These refer to the relevant government policies that affect the business environment. For eg. Tax policy,labour law , minimum wages law ,tariff rates etc * Economic factors : These refer to the macro economic factors that may affect the business. For eg. Inflation, Gross National Income, Gross domestic product, REPO rate, reverse Repo rate. * Socio-cultural factors : These refer to the various social and cultural factors prevalent in the business environment. For eg. Greater awarness of the people towards environment, changes in taste of the consumers, average age of the consumers etc. * Technological factors: These include the technological factors such as R&D activity, automation and other innovations which has changed the way business is conducted. For eg MP3 players, IPOD, Iphone, Tele conferencing, cloud computing to name a few. * Environmental factors: These include the environmental and ecological factors that affect the business for eg climate change, global warming, and rapid depletion of our natural resources. * Legal factors: These refer to the legal environment in which the business is conducted. For eg. Trade barriers, consumer law, anti dumping duty, corporate acts. Titan group Titan was formed in 1984 with the joint venture of Tata group and the Tamil Nadu international development corporation. It is mainly present in the watch industry although it has successfully forayed into the jewellery segment with the launch of Tanishq. Some of the notable