Abstract
M.B.A.
Increased environmental pressure in a firms' local market are forcing many
companies to consider markets outside of their own to do maximize their
profitability. According to Henisz (2000) when expanding internationally, a firm's
management often must contend with a new culture, a new language, a new
social system, new market structures, and a new political system. Titan, a
premier brand in the Indian sub-continent aspires to assess the Gulf Cooperation
Countries (GCC) market for watches. Despite global market recessionary trends,
the luxury watch market in the GCC reflects a constant thirty percent increase in
business over the previous year, as measured on a monthly comparative basis.
The research will indicate that Titan cannot simply apply the local strategies used
in India, as this global market possesses different characteristics to those
experienced in the GCC, the importance if brand utility may provide a distinct
differential over the major competitors in this market. Though the model that is
derived will be based on the Titan experience, it will also be applicable to other
items in the luxury goods market, and may be utilised to facilitate market entry for
all luxury goods which will be categorised in the same band as watches,
examples of these include fashion accessories, sunglasses, perfumes and
jewellery. The aim of the study was to develop a model to guide the market entry process
for new watch brands under the Titan umbrella into the GCC market.