Technological Factors

Published: 2021-09-10 14:10:10
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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).

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