Technological Factors

2.1.4 Technological factors

In recent years, Information Technology industry in India has a average growth rate of 30%. This is one of the most important industries in the Indian economy. In 2008, Information Technology industry also contributed 35% of total exports of India . Besides, India ranks 4th in the world for the highest number of Internet users with 81 million people (See appendix 8)

Internet will help Citizen Group at Japan control activities at all branches and through the Internet, company can deploy works and transmit important information across its company extensions

The rivalry amongst current competitors in the industry is high since there are many competitors such as Seiko, Timex, Swatch, Citizen and such other Chinese timepieces brands. These competitors are also well-known brands in the market which offer the same range of watches as Sheen.

The threats of new entry is low because Singapore is considered as a watch trade center in Asia, then, almost all brands from high-end to low-end are operating business in this market. It can be said that customers can find any brand of watch in Singapore.

Customers have a strong influence on business operation of Sheen brand. Needs of customers is much diversified and can change any time, thus, if Sheen can not satisfy them, they can switch to other brands since there are many watches brands in this industry.

The products substitute for timepieces are mobile phone, mp3, mp4, etc. The threat from substitutes is high because nowadays these substitutes are very popular, especially mobile phone. The mobile phone penetration rate in 2009 was 137.4% (See Appendix 11).

4.3 SWOT Analysis

An SWOT (strengths, weaknesses, opportunities and threats) is a tool for analyzing an organization's competitive position in relation to its competitors (Basu R, 2009). Following is a SWOT analysis for Casio Sheen wristwatches in Singapore market.

4.3.1 Strengths

* Global branding: Sheen brand is owned by Casio Company - a very common brand which was ranked at 117th in 3000 popularity brand in 2009 .

* A wide range of product lines with distinctive designs: Sheen's lineup includes 5500 series, 5000 series, 4000 series, 3000 series and Edifice/Sheen pair series with over 60 different models . Thus, it leaves customers many choices when they want to buy a watch.

* Quality products: Casio commits to making products that earn high marks in every possible aspect, including safety, of course, as well as function, design, price, reliability and durability, serviceability, and environmental conservation .

* Excellence customer support centre (See Appendix12).

* Affordable prices: Sheen offers its watches with many