UNIVERSITY OF MUMBAI PROJECT REPORT ON MARKETING STRATEGY OF TITAN WATCHES IN PARTIAL FULFILLMENT FOR BACHELORS OF MANAGEMENT STUDIES 2011

-2012 PROJECT GUIDE PROFESSOR: PRERNA SHARMA SUBMITTED BY: ABHILASHA SRIVASTAVA SPECIALISATION IN MARKETING MAHATMA EDUCATION SOCIETY’S PILLAI’S COLLEGE OF ARTS,COMMERCE AND SCIENCE NEW PANVEL

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CERTIFICATE This is to certify that the work entered in this journal is the work of Ms. Abhilasha Srivastava TY BMS, have successfully completed a project report on the topic “MARKETING STRATEGY OF TITAN WATCHES” terms of the year 2010 – 2011 in the college as laid down by the college authority.

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DECLARATION I, Ms. ABHILASHA SRIVASTAVA student of TYBMS,MAHATMA EDUCATION SOCIETY’S PILLAIS’S COLLEGE OF ARTS,COMMERCE & SCIENCE , hereby declare that I have completed the project report on “MARKETING STRATEGY OF TITAN WATCHES” in the academic year 20102011 . The information submitted by me is true & original to the best of my knowledge.

Ms. Abhilasha Srivastava

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assistance and sustained support without which. [5] . who provided me with all the theoretical and practical inputs for my project. I am sincerely thankful to my project guide. it would not have been as it has turned out to be. Without his thoughtful support this project would not have been completed. Prerna Sharma. even if I have had done this work.ACKNOWLEDGEMENT With great pleasure and a deep sense of gratitude I hereby acknowledge everyone who provided me with their help. Prof. Their enlightened feedbacks and directions can be sensed as the project moves on.

INDEX S.NO. CONTENT PAGE NO. Executive summary List of tables List of graphs 1 2 3 4 5 6 7 8 9 10 Introduction Research Methodology Conceptual Framework Company profile Data collection and Survey Analysis Data interpretation Conclusion Suggestion / Recommendation Appendices Bibliography 1 7 9 50 53 69 73 74 75 78 [6] .

\ List of Tables S. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Content Titan sub-brands possessed by respondents Period of Titan watch’s use Reasons for brand preference Recall of Titan’s original tagline Major advertisement media Awareness of brand ambassador Awareness of new tagline Consumer perception of new designs Awareness of new campaign Consumer perception of new campaign Consumer perception of store ambience Consumer perception of sales personnel Consumer perception about after sales service Pg.No.No 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 Consumer perception about display of watches Overall perception about Titan showroom [7] .

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Content Titan sub-brands possessed by respondents Period of Titan watch’s use Reasons for brand preference Recall of Titan’s original tagline Major advertisement media Awareness of brand ambassador Awareness of new tagline Consumer perception of new designs Awareness of new campaign Consumer perception of new campaign Consumer perception of store ambience Consumer perception of sales personnel Consumer perception about after sales service Pg.No.List of Graphs S.No 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 Consumer perception about display of watches Overall perception about Titan showroom [8] .

outdated models. recalibrate. 1998). Even in the organized sector. There is a constant need to innovate. After liberalization of Indian economy in 1992 many international players have entered the Indian Watch market posing as competitive threat to the Indian companies. reinvigorate. due to high scrap rate. which is applicable after 6 years (Source: India market demographics report. This is also due to the fact that the estimated scrap rate of wrist watches is 7. out of which 60% is in the unorganized sector in which the maximum number of watches are sold are below Rs. The replacement rate of watch is 33. three fourth of the sales by volume comes from watches that are priced below Rs. HMT was the leader in the watch market till the Tata’s formed Titan Watches in association with Tamil Nadu Industrial Development Corporation in the year 1987. 1998). The Indian watch market is today of 40 million units.300. Watch is one of the consumer durables whose replacement rate is very high. This along with the low penetration level represents the untapped market potential for watches in India.1000. the mechanical wristwatch has slowly become less of an object of function and more a piece of modern culture. or just simply fend off the competition in an effort to better explain "why buy me.Executive Summary Today.8 %( Source: India market demographics report. So.8%. The Indian watch industry began in the year 1961 with the commissioning of the watch division of HMT. Titan was the first company to launch quartz watches in India. The first watch model manufactured by HMT was the Janata model in the year 1962. a wristwatch is considered as much of a status symbol as a device to tell time." [9] . and the shift from the mechanical watches to the quartz watches it is causing a very high replacement demand for watches.Many brands and companies are constantly reinvigorating their businesses and positioning them for growth. Quartz watches form two third of the organized sector and the rest is split between mechanical and digital watches. In an age when cell phones and digital pagers display tiny quartz clocks. Lately Titan has tried to reposition its Brand to capture more segments of the watch market retaining the already served market segment. update. The strategy has been studied in deep during the project.

Brand positioning creates a specific place in the market for the brand and product offerings. Then the communication strategy has been revamped to convey its new position. The data is presented using pie charts and bar diagrams.The second part of the project comprises of conducting a survey with the help of questionnaire. The company has first gone for change in logo and tagline. In the recent times. The actual approach of a company or brand's positioning in the marketplace depends on how it communicates the benefits and product attributes to consumers and users. internet.Introduction [10] . Quality. Chapter 1 . In recent times.The conclusion part of the report would provide an insight of consumer awareness regarding brand repositioning strategies and their effectiveness in revamping the brand. The present study consists of reviewing the positioning strategies of Titan watches. Product Attributes. analysis of brand repositioning strategies of Titan Company has been completed on the basis of secondary data. Hence. magazines and so on have been made use of. Primary and secondary sources of data have been made use of in the study. but most notably on five key issues: Price. Recognizing the importance of the customers in the business structure. Titan. i. the marketplace has become customer centric. Consumers today are well informed about the products. It reaches a certain type of consumers and delivers benefits that meet the needs of several key target groups and users. books.e. The first part of the project. Distribution. in order to provide more to its customers. selected through convenience sampling technique.. For this purpose. The survey is proposed to be conducted on a sample of 50 consumers who are loyal to Titan Company. and Usage Occasions. companies have started effecting brand repositioning exercises on a regular basis. The questionnaire consists of appropriate mix of open ended and closed ended questions. As a result. journals. consumerism has undergone a sea change.The main objective of the study is to find out whether the loyal consumers of titan watches are aware of the new positioning strategies of the company and how they perceive them. as compared to earlier times. the brand positioning of a company and/or product seeks to further distance itself from competitors based on a host of items. a major brand repositioning exercise has been planned by Titan Industries Ltd. An analysis of repositioning strategies of Titan also forms part of the study.

has defined brand positioning as "building (or rebuilding) an image for a brand". The appeal of brand repositioning is further heightened by the rising costs and high risk associated with launching a new brand.consumers' perceptions of the attributes that differentiate the brand from competitive offers – while repositioning also implies managing existing brand associations. The goal of positioning and repositioning strategies relates to the management of consumers' perceptions. If a brand has been established at the market for some time and wish to change their image they can consider repositioning. thus. Biel. brand repositioning and other revitalization strategies have become a business imperative for battling brand erosion. positioning focuses on the creation of brand associations . According to Solomon. The unique challenge of a repositioning strategy.1. Brand repositioning has received little attention in the marketing literature and has mostly been treated as a variation of brand positioning. However. for example. Through repositioning the company can reach customers they not intended to reach in the first place.basic functions: marketing and innovation. lies in rejuvenating the brand image to make it relevant in an evolving environment.Peter Drucker The rapid pace of change and intense competitive pressure in today's marketplace demand that brands continuously innovate and reinvent themselves to maintain their relevance and market position.1 Theory & Concept "A business has two .and only two . while honoring the brand equity heritage. position strategy is an essential part in the marketing efforts because companies have to use the elements in the marketing mix to influence the customers un- [11] ." . Repositioning can be required as the market changes and new opportunities occur. In this context. although one of the hardest actions in marketing is to reposition a familiar brand.

despite numerous campaigns designed to reposition the brand as trendy. and to broaden the brand proposition. 1. it is time to modify the proposition through update of the [12] . Numerous failed attempts at brand repositioning testify to the difficulty of developing and implementing such a tactic. elaboration and fortification stages. the risk of losing the credibility and reliability is high and the need for a thorough strategy is therefore necessary to avoid this occurrence. Specifically. while the soft drink brand. But. This involves the introduction of a new or a repositioned brand. but also extends to corporate strategy through an examination of corporate brands. During the movement from something less attractive and relevant towards a more attractive and relevant position several of strategic choices has to be made. Research into brand repositioning is relevant not only to the development of brand management theory. The ones responsible for the repositioning have to evaluate why a reposition is necessary. is this achievable? Some brands will on no account be thought on as a luxury brand and therefore an attempt to reposition will only damage the brand image or the actual company. Mountain Dew has remained relevant to the youth market through continuous repositioning in its thirty years of existence. when and how brands should be repositioned need to be addressed. The strategic importance of brand repositioning in preserving and enhancing brand equity. Whenever a reposition is in question it has to be of relevance from a customer perspective. and if the offer is the one who will change or just the brand name. During repositioning. After rolling out the strategy. seeking to underline the brand’s value over others. underscores the need to develop a better understanding of the dynamics of brand repositioning. Some analyst argue that to successfully reposition a establish brand name is almost impossible because repositioning of a brand can make the most loyal customer to switch brand. It is truly tough to change the customer’s perceived attitude towards a brand. coupled with the mixed results of repositioning attempts. There are several risk factors that have to be taken into consideration when preparation for a repositioning of the offering or the brand. and therefore the risk is great that the attempt to repositioning might be unsuccessful. Levis' Jeans has been losing market share to newcomers such as The Gap. in some circumstances a repositioning is necessary to gain credibility if the brand is eroded.2 Literature Review The repositioning strategy is rolled out in three stages: introductory.derstanding of the position. questions of whether. For example.

reposition concerns change the consumer’s perception of the brand” (PR. The market demand changes rapidly and [13] . or be involved in several different positions at the market. The purpose of the movement differs with regards to what the company wants to achieve. There are benefits and risks with both of this segments and it is of great significance that they are truly evaluated when deciding the next step in the process. When a company perceives the market as a demand curve. three examples of repositioning given by individuals in different professions is stated below: “Repositioning is a change. People’s minds select what to remember and it is therefore significant to convince the consumers with great arguments. Figure: Stages in brand strategy development The implication with the term” repositioning” is that a company modifies something that is already present in the market and in the consumer’s mind. it is important to understand that consumer’s minds are limited. it is obvious that reposition is about moving something to a newer and hopefully to a more attractive and relevant position. and when moving up and there is a need for reaching the premium segment and expand up wards. A company might want to reach out to a larger target group. principally about trigging the vision. figure. The definition of repositioning changes different individuals and professions. To view the different definitions and perceive a greater understanding about this concept. (Brand manager consultant) “Principally.personality and through repositioning. the purpose is to down stretch or up stretch in this curve.consultant) “Repositioning is built upon the change unique and differentiated associations with the brand in some kind of direction. To further understand the stages stated above. mission and value in a new direction that is more suited for the brand in the future”. When striving towards a new position in the market. it is about having a balance between the category party and differentiation when using reposition strategies” (Leading brand strategist) From these definitions. There is also a visible relation between price and quantity aspects. When moving down it is often spoken of as an expansion down wards.1 will guide you through the different phases that follow after establish a brand proposition.

Increasing relevance to the consumer 2. These are: 1. (2) gradual repositioning. It is not always that these nine categories are mutually exclusive. Making the brand contemporary 7. Bringing in new customers 6.therefore reposition can be necessary to meet these demands. Making the brand serious 4. Corstjens and Doyle (1989) identified three types of repositioning strategies: (1) zero repositioning. Often one reason leads to the other and a brand is repositioned sometimes for a multiplicity of reasons. and (3) radical repositioning that corresponds to a discontinuous shift towards a new target market and/or a new competitive advantage. repositioning is a very complicated matter and therefore there are no detailed theories or models. Increasing occasions for use 3. A four-phased brand repositioning approach can be followed to achieve the intended benefits: [14] . After examining the repositioning of several brands from the Indian market. where the firm performs incremental. and the only connection between all the different theories is that repositioning is moving something from somewhere towards a greater position at the market. the following 9 types of repositioning have been identified. which is not a repositioning at all since the firm maintains its initial strategy in the face of a changing environment. Changed market conditions. continuous adjustments to its positioning strategy to reflect the evolution of its environment. Differentiate from other brands 8. The aim with repositioning differ from person to person. As stated in the literature. Falling sales 5. newer and stronger arguments have to be established to convince them to stay as loyal customers.

etc.Phase I. ingredient branding. brand repositioning is more difficult than initially positioning a brand because one must first help the customer “unlearn” the current brand positioning (easier said than done). Developing the Brand Positioning Platforms Phase IV. Determining the Current Status of the Brand Phase II. that emphasize the new positioning and (3) associations with other brands (co-branding. (2) new products. This exercise is so critical to an organization’s success that the organization’s leadership team and its marketing/brand management leaders should develop it. preferably with the help and facilitation of an outside brand-positioning expert. Refining the Brand Positioning and Management Presentation The benefits that can be derived from brand repositioning exercises can be summarized as: · · · · Value over others Updated personality Relevant position “Up to date” image The risks associated with such strategies are: · · · · Loss of focus Neglecting original customers Losing credibility for the brand Confusing the brand Therefore. [15] .) that reinforce the new brand positioning. packaging. Three actions can aid in this process: (1) carefully crafted communication. What Does the Brand Stand for Today? Phase III. strategic alliances. co-marketing. etc.

Research Methodology 2.1 Objectives · To review the brand positioning strategies of different sub-brands of Titan watches · To analyze the brand repositioning strategies of Titan watches. · To study consumer awareness and perception about the brand repositioning [16] .Chapter 2 .

This study would help titan industry to understand the gaps in its communication strategy regarding brand repositioning exercises and the further measures to be taken for effective marketing communications. books. I made a study of the brand positioning and repositioning strategies of Titan watches through secondary sources such as internet.2 Limitations  The study is confined to Navi Mumbai area only  There is possibility of sampling errors in the study  The responses of the consumers may not be genuine  The questions included in the questionnaire may not be comprehensive. First. and journals and so on. As Titan has taken up [17] . 2.4 Sampling Procedure A sample of 50 consumers who are brand loyal to Titan watches since more than a year and in the age group of 20 – 30 years have been considered for this study. Then I conducted a consumer awareness survey on brand repositioning strategies undertaken by Titan watches in recent times. insurance magazines. and journals and so on. 2. The relevant data was collected from both primary sources and secondary sources.strategies of Titan watches · To recommend suitable measures to be taken by the Titan Company to further improve its brand perception and loyalty among its customers. The starting point of my information gathering has been the secondary sources such as internet.

mails. The first watch model manufactured by HMT was the Janata model in the year 1962.Conceptual Framework 3.5 Primary Data Collection Data was collected through an interview schedule. telephone contacts and one-to-one personal interviews. new designs and so on. recollection of earlier tagline and advertisement.brand repositioning strategies since July 2008.1 History of the watch market The Indian watch industry began in the year 1961 with the commissioning of the watch division of HMT.to manufacture only quartz watches. brand ambassador of Titan. The data was collected through e. consisting of both open ended and closed ended questions. consumers who have seen the previous and new campaign have been targeted 2. HMT was the leader in the watch market till the Tatas formed Titan Watches in association with Tamil Nadu Industrial Development Corporation in the year 1987. They took a major strategy decision. Liberalization in 1992 and the removal of quantitative restrictions due [18] . Chapter 3 . The schedule covered parameters like reasons for consumers’ brand preference. awareness of new tagline and campaign featuring Aamir Khan. which later changed the face of the Indian watch market.

Rado. Swatch. Tissot. TAG Heuer. Omega. Also there has been a rise of low cost producers in China & Taiwan which has provided an opportunity for watch makers to outsource watches at low cost. just as Titan has done to outsource the components for Dash.2 Indian Watch industry: SUPPLIER POWER No strong suppliers Lack bargaining power Rise of China. Taiwan as low cost suppliers BARRIERS TO ENTRY Cluttered Market DEGREE OF RIVALRY Increased number of firms Low switching costs THREAT OF SUBSTITUTES No close substitutes Lack of DifferentiaStrategic stakes are high tion BUYER POWER Price sensitivity . Swatch and Citizen.to WTO has opened the doors for many foreign brands in the Indian market viz. there is little supplier power in the watch market. Buyer Power: [19] . 3. The import duties on watches are falling which makes the Indian market look attractive for the global majors like Casio. Buyers’ Preferences Figure 3: Porter’s Five Forces Model 1. Supplier Power: HMT has its own fully integrated operation for production of its watches. Due to the large supply of watch movements available. the manufacturing capacity of which is 6 million units. 2. Rolex and many others. Titan has its own production facilities for which it has invested roughly 120 crore rupees over the years.

Threat of Substitutes: There are no such substitutes to watch as a product. some sort of substitution has developed. Also at the lower end of the market it is basically the Value for Money. So the prime barrier for entry. 3. This makes the competition very stiff. This could be either price or functional or emotional appeal. 3. The strategic stakes for the producers are very high. There is still a huge untapped market in India with market penetration of only 20 units per thousand people while the world average is more than 100. However. Titan Ltd. 4.. for a new entrant is to build a brand image and price competitively. 5.The Indian watch buyers are very price sensitive. which differentiates the players. Entry Barriers: The Indian watch market in the recent years has shown a dramatic increase in the number of brands available in the market due to removal of quantitative restrictions. So the new entrant has to have an offering. HMT faced a similar situation when Titan was introduced in the 1980s leading to a sharp fall in its market share. the largest company in terms of market share in the organized sector has faced losses in the quarter ended June 2001 despite increase in the market share due to macroeconomic situation. in terms of the companies offering various variations for watches such as pendant watches and jewellery watches. especially in the lower end of the market. which can be positioned and differentiated from the other players in the market. in the current context. the product ranges offered by them are manifold. Rich consumers prefer to purchase watches more as a fashion accessory rather than simply for its typical use.3 Present Situation of the Indian Watch Market [20] . At the same time there are a segment of people who are willing to pay a premium for watches with good performance and with a recognized brand name. So understanding the buyers’ preferences is very crucial in this industry in order to gain a substantial market share. however. Degree of Rivalry: There are many companies in the Indian watch market.

which entered in India with collaboration with Titan.8%. Casio. This is also due to the fact that the estimated scrap rate of wrist watches is 7. The replacement rate of watch is 33.which translates into a good quality metal model at a reasonable price. Plastic as such is not acceptable to average Indian consumers. and the shift from the mechanical watches to the quartz watches is causing a very high replacement demand for watches. The other players include Westar. Titan and Timex. Even in the organized sector. 1998). Titan has been consolidating its market share over the past decade. Omega. Quartz watches form two thirds of the organized sector and the rest is split between mechanical and digital watches.900-1500).350-600). So due to high scrap rate. Timex watches. Tag Heuer and Espirit are also making an inroad into the Indian market. out which 60% is in the unorganized sector in which the maximum number of watches are sold are below Rs. Shivaki. outdated models. Gucci. This along with the low penetration levels represent the untapped market potential for watches in India.300. Watch is one of the consumer durables whose replacement rate is very high. Premium (Rs. 3. Tiffany’s and Corrum. Maxima.600-900). three fourth of the sales by volume comes from watches that are priced below Rs.8%(Source: India market demographics report. especially those from the small towns and rural areas who regard it as cheap and flimsy.The Indian watch market is today of 40 million units. Super-premium (Rs.4 Major brands in the Indian watch market The major players in the Indian watch market include HMT. Foreign brands such as Cartier.5 Segmentation of Indian Watch industry Based on price • • • • Mass (Rs. Longines. SITCO. which is applicable after 6 years (Source: India market demographics report. now independently has also gained substantial market share. Citizen. 3.1000. 1998). They want toughness.1500-8000) [21] . Popular (Rs. Piaget.

6 Titan Watches: Brand Positioning Strategies Overall strategies Since its introduction. it was the first to bring quartz watches to the Indian market. delicate and feminine with each piece being truly unique. the challenge that Titan faces is to create a strong brand image.  User Positioning: [22] .8000) Based on user category • • • • • Men’s watches Women’s watches Youth watches Kids watches Sports watches 3. Power dressing now has a new weapon! As Magic in gold and bicolour look. these strategies can also be analyzed as given below:  Attribute Positioning: When the company launched its products. The Raga and Silver Raga collection is elegant. the 'Regalia' range represents the essence of dress-wear. With its numerous sub-brands catering to different segments. providing high quality products.• Connoisseur segments (above Rs. Classique and Regalia come under this strategy. Raga. Raga has been differentiated and positioned as exclusive watches for women. Titan has been positioned as a premium brand. It follows different positioning strategies. Classique has been positioned as elegant corporate wear that leaves a quiet. but definite impression and fusion of function and sophistication. The company successfully leveraged this to penetrate the market and gain a market share.

by suggesting the use of different watches for different occasions. vibrant and ‘cool’ (the ad line says “Cool watches by Titan”)  Benefit Positioning: The Fastrack Digital range offers the customer a functional watch that is also attractive. The digital watch has a “techno-geek” image. with the intention of making it more youthful and relevant to the changing times. The advertising.  Quality or Price Positioning: In the overseas market. it has tried to reposition this brand by increasing the price range to encourage more customers. Tissot.Titan caters to several user groups. sturdy and reliable. However. Sonata is a perfect example of Price positioning.“Be More” [23] .7 Titan Watches: Brand Repositioning Strategies Titan Industries decided to revamp its flagship watch brand. What followed later was the ‘What’s Your Style?’ campaign. titan came up with this segment when it was facing heavy competition from lower end segment. it is positioning itself as ‘value. Titan already had the Tanishq brand in this segment. has undergone a major repositioning exercise only once before – five years ago. packaging and merchandising of this range is young. Most of the entrants are catering to the upper end of the market.Cartier etc. 3. which tried to increase watch consumption per person. attractively styled and of good quality.  Competitor Positioning: With the entry of several foreign watchmakers into the market. In Indian market.for. New logo and tagline . especially in Europe where it is competing with Swiss and Japanese watches. The Fastrack range is seen as being contemporary. The brand.children (the Dash). sportspersons and adventurers (PSI4000 and Fastrack range).Omega.money’: reasonably priced (less than Swiss watches and higher than Japanese). launched more than 24 years ago. Titan. but Titan seeks to differentiate its offering on the basis of superior style and attractiveness. when Hindi film actor Aamir Khan was appointed brand ambassador. Titan had to counter the threat.

Titan Industries. shown in an ambient way through posters and T-shirts). As he crashes his vehicle while go-karting. then. Cut to a shot of children. [24] . Bhat says that that statement is supposed to denote the aspirations of consumers to make more of their lives and be whatever they want to be. On the adoption of ‘Be More’. According to Harish Bhat.” he says. ‘Be Born. while his voiceover explains the importance of making one’s own mistakes. Every Day. as we see him with funny accessories framing his face. Titan has evolved too. Be More’. chief operating officer. Further on. Khan waves to the others around him. watches. Wearing armour (sword and all). a watch ought to denote the wearer’s mood and personality. Ogilvy India. followed by a campaign rolled out now. Here. “With the explosion of options in a person’s life. Titan. ‘Be born every day’. sitting beside a truck driver. he talks of not making your passport photos last longer than three months – you need to constantly reinvent yourself and adopt a new look every day (cut to shots of Khan’s varied hairstyles and looks in his movies. “Shock your reflection!” says Khan. “The watch allows for such imaginative travels. with a trail of chassis trucks behind him. with Khan explaining how we aspired to be different people as kids – “let’s revive that aspiration today”. Next. And to keep up with them. Khan reiterates. It all started with a logo change a few months ago (the same font in a red and white combination).Beyond style Now. in the middle of nowhere. Titan’s agency. Titan wants to move from style statements to personality statements. The ad film opens on a shot of Aamir Khan sitting alone on a roller coaster. he asks the viewers to try the adventure of getting off at an unknown station. he is seen chasing the shadow of an aircraft on a beach.” he says. has devised a campaign featuring Aamir Khan that encourages people to find a new strand of their personality every day. stating. The next vignette has him practising meditation while slyly checking out a girl walking past (‘Explore’). our core consumer is changing. of exploring unknown lands.

is to live life to the fullest – with Titan being the instrument of such expressive liberation. group creative director. To show the aspirations of children.” she says. [25] . you see the object is a butterfly – the girl wants to fly. a young girl was shown staring at an object and. “Because it was raining in Mumbai then!” Several layers were added to the film. The first film had Khan confused about which watch to match with each outfit he’s packing before a trip. “‘Be More’ pushes people to live many lives in one. says. “Be it Mangal Pandey or Lagaan or Dil Chahta Hai. The ad making – Aamir Khan The ad was directed by Prasoon Pandey of Corcoise Films. “This third film has a much stronger script than those two.” Shot entirely in Chennai.” shrugs Pandey. Kunj Shah (who wrote the script) and N Ajesh of Ogilvy. he quips. “We had fast paced shots to spread the look of the film. Aamir always manages to look different in every role. “It’s about bringing a mindset onto the screen with a better celeb-brand marriage. this is Pandey’s third Titan film. ‘Why should we be single minded and boring? Time to be multi-faceted. later in the frame. “So we showed him doing things that were spontaneous.” The idea. The film was conceptualised by Mehra along with Amit Akali. the film has been shot in a way that suggests that multiple locations were used for the shoot. “That is the way many categories are moving. We want to trigger people into questioning. When asked why Chennai. says Mehra. played by the late Vihang Nayak. as opposed to one city.Malvika Mehra. the spontaneity in the ad is an indication of Titan’s gradual shift from the old to the youthful (from ‘My Dad’s Brand’ to ‘My Brand’). simply put.” explains Mehra. Anil Thomas. such as exploring places or go-karting. while the second film showed him delighting a girl in a mall with a watch. Ogilvy & Mather Bangalore. the earlier two involved Khan and his assistant.” says Pandey. In a sense. just like Titan!’” Khan fit the bill as Ogilvy borrowed from his own life and work and his need to constantly experiment and reinvent himself.

” Pandey says. steel and bi-metal finish. with both metal and leather straps. Titan Raga – Hazel Collection Titan Raga has launched the Hazel collection. They are available in both casual and formal styles to complement the young. It also unveiled its TV commercial featuring Indian ODI captain Mahendra Singh Dhoni. the watch brand from the Tatas. The tag line for this sub-brand is ‘Super Strong. this range comprises five styles with versions in gold. Nebula Celeste [26] . New Collections and Designs Sonata’s sub-brands Sonata has launched the Yuva 2008 collection. multifunction and retrograde watches for the urban man.195 and Rs 4. targeted at the subRs 500 market in urban. The collection has over 35 styles and is priced between Rs.500. and will be available in a price range of Rs 275 to Rs 550. The watches have been designed primarily for youth in the 16-30 age group. Sonata. They are available in both gold and steel looks. launched the Super Fibre. which has Khan dressed as a mock warrior (with an impromptu utensil serving as his helmet). a series of colourful watches.’ The company announced 360-degree marketing campaign for the new offerings. “in a brand new avatar”. Super Style.000. semi-urban and rural India. 5.“Kids are freer in their thinking than adults and we hope this has been portrayed. The collection has watches for both men and women at price s starting at Rs 645.000 and Rs 7. was made to look like the man had made use of things lying nearby in a spontaneous way. Priced between Rs 2. Even the last frame of the ad. inspired by the hues of nature. new look for college or office wear. Octane Titan has launched the Octane collection of chronograph. The range is described as blending style and technology. They are available as bracelets and kadas with textured or patterned look and mother-of-pearl dials.

450 and Fairy Dust at Rs 4. Nebula Zeus It is a mechanical automatic watch in solid gold for men. Other features include an instant start. a second hand stop device for accurate time setting. 42 hours reserve powers and auto wind convenience. the new collection comprises watches in gold. Priced between Rs 2. said that plans are on the anvil to launch one new collection every month. The two new watches. Priced at Rs.000.It is a limited edition collection of jewellery timepieces. The watch collection was launched by singer and actor.000 and Rs 10. are available in yellow metal and bi-metal versions. Venus is priced at Rs 4. prosperity and good luck was unveiled as part of Heritage collection. reflecting the 3000-year old art and cultural history of the country. MrVijesh Rajan. the limited edition watch (500 pieces) harks back to an older era of luxury and romance.500 watches has been fixed as a target for this fina ncial year in the Heritage collection. They are crafted in 18k white and yellow gold. launching the watch collection. steel and bi-metal finishes.1. Regional Sales Manager (South). Titan’s Stambha A new ladies Heritage wrist watch ‘Stambha’ signifying fame.995 and Rs 4. Prices range from Rs 6 lakh to Rs 12 lakhs. Raga Diva [27] . called Venus and Fairy Dust.750. A sale of around 7. Raga Shimmer It comprises of a collection of exquisitely designed studded watches that complement both Indian-wear as well as Western-wear. The prices in the collection range between Rs 5. Raga Crystals Titan Industries Ltd has unveiled its new Raga Crystals collection of watches in Kerala. The Nebula Zeus watch has been crafted using Swiss made mechanical automatic movement with gold finish and a sapphire crystal back cover.10. Vasundhara Das. he added.000.495.

Available in mother of pearl dials in both champagne and white options it is priced between Rs.000 and Rs 10. like from low-cost Sonata for first time user.30. It is priced between Rs 4.35. today launched the Duet collection – three pairs of specially crafted gold watches for the wedding season. Other Strategies · Titan is also trying to reach new customer segments. Inspired by traditional Kundan work.000. The most premium collection for this wedding season was unveiled by popular actor Gul Panag. They are now trying to target all adults in socio economic classes A&B. 500/and Rs.000.An exquisite range of watches for women in the Kerala market. Titan is also looking at innovative retail strategies and planned to launch ten innovative product collections soon. Titan provides watches for all segments. Fast-track for the trendy [28] .8 Market share of the Competitor in Domestic Market HMT Maxima Rado Casio 19% 13% 7% 3% The strongest selling point of Titan is that it is available and affordable. this collection has been rendered in a delightfully contemporary form. the premium 18K gold watch brand from Titan.1. · 3. Titan Nebula – Duet Collection Titan Nebula.

the company still in the number one position in domestic market because of the weakness of the competitor. The marketing environment. the research and development. The rural segment is the diverse market in the present scenario. discount and offers make the company. product quality. The company trying hard to convert its weakness into strengths and threats into strengths and threats into opportunities by bring revolution in the product style. And the model is available exclusively in all showrooms and is sold mainly in small-town in India. 1200. features. The company has adopted the new marketing innovation to improve the feature of the product by time to time. Companies certain initiatives and policy such as new innovative design. Environmental Analysis A. The Company faced enormous challenges from its big list of competitor. To find out the brand preference for watches. The major players’ are Domestic Level: [29] . Dash for the kids. The range cost is between Rs. Though the current financial environment is not in favor. The Indian watch market is estimated at 25 million watches a year.  Competitive Forces Major Competitor There are lots of competitor in wrist watch segment which directly or in directly affecting the titan watches industry. but the company performing well and saw an increasing trend in the profit chart. guarantee. model. wide dealer network. and the higher priced Regalia and Nebula to the premium segment customer. 495 to Rs. etc. The company becomes more reliable and more acceptances to the consumer because of its marketing mix. Though.young. where the domestic sale is 6 million watches per annum. pricing policy. committed service team. The key success story of Titan is capturing the rural market on a large scale.

· · · · HMT Maxima-quartz Rado Casio  International level: · · · · · · · Espirt Swatch Citizen Tag heuer Seiko Cartier Giordano  Fashion Houses: · · · · · Dkny Gucci Adidas Nike Bvlgary Among all these competitors. Maxima-quartz and HMT are major players .The strength and weakness of the companies varies from segment to segment Industry’s Role [30] .

As there have many competitor exists in this Industry.725-7770 UPPERMIDDLE CLASS UPPER CLASS COUPLES UPPER MIDDLE CLASS-UPPER CLASS [31] .675-8.085 1. all the companies also implement changes in their marketing mix to sustain in the competition. are having optimistic view towards economy. but the people who lives in urban area or metro city.430 650-1. but it affected all the countries due to United State financial crisis.000 1. Whenever any company bring changes in its marketing mix.430 595-1. People think that the economic condition of our country will be improved in the near future. By that the structure of whole industry is changing and affects the competitive forces in the Industry. Purchasing power of consumers BRAND FAST TRACK EXCTA SPECTRA ROYAL RAGA BANDHAN REGALIA PURCHASING POWER (PRICE) RS 550-1.830 CATEGORY YOUTH LOWER MIDDLE CLASS(Office wear) COMMON CLASS 960-2. This problem occurred not only in India.  Economic forces Economic landscape Indian corporate sector is nervous because of current Inflation.420-4. the competition is too much.830 1. Consumers view As we know that Inflation is in double digit figures. As we came to know from Federation of Indian Chamber of Commerce and Industry (FICCI) that 64% of the 413 companies are running currently in worst condition from last 6 months.

These data indicate that consumer’s spending pattern is increasing respective target market.83 crore during the first quarter of last year to Rs. On the basis of the above table and profit figure we easily understand consumer buying power in target market.  Brand name  Quality of the products  Features .89 crore during the corresponding period this year.168. watch segment of Titan Industries doing well in the current fiscal.45 crore during the second quarter of this year.They are as follow.000-45. For these.000 BUSINESS CLASS UPPER CLASS The company’s watch sales grew by 18. There are few reasons behind the growth in sales of Titan .500-5.which differentiate from others  Attractive models  New innovation  Political forces Political landscape: [32] . watch segment sales income increased from Rs.171. From the above information we can easily understand that consumers buying more of Titan wristwatch.8 per cent and its income increasing from Rs255. high oil prices and high volatility in gold prices. Spending habit of consumers Despite of high inflation.200 10.34 crore during the second quarter of last year to Rs303.EDGE NUBULA 4.

self elected by the people the country. the companies always want to make good relation with the political parties. Moreover. Titan decided to manufacture only QUERTZ (Analog and digital) and not mechanical and they would start plant to manufacture watches in wide variety in design and prices. In premium segment. Titan gets advantages in the target market through innovative technology. The industry can be directly affected by the certain rules such as change in Taxation rate. Our new Government took lots of steps to make the global relation as well as some steps to develop our country GDP. if Titan not accept the changes in technology then they can’t sustain in the market.they have to follow lots of regulatory norms.In 2004 /05 the new Government came through election in India.  Technological forces Impact of Technology Changing in technology always play a great role in the target market. Titan changes the technology in that ways which help in enhance the quality and the features to increase buyers’ value.  Legal and regulatory forces As the titan industries operates their business in the global area . These all steps help the Industries to get sustain in the market. it really helps the country development. As there is too much competition. because we know that India is a democratic country which is it. decreasing the rate of Inflation by decreasing rate of Cash Reserve ratio (CRR) as well as by decreasing the Repo rate. As all the steps help the Titan industry to compete in the watch industry. The performance of this sector for last few years are- Relation with political officials As we all know that TATA group is the one of reputed companies in the world. competitor will capture whole market by improve [33] .

They also takes some reasonably steps to improve the quality of life of the people of the areas in which they operates.  Sociocultural Forces Tata believes that improve the quality of the life of people and the employee is the primary purpose of their business. Tata Business Excellence Model and Tata Index for Sustainable Development which reflect its commitment to its Corporate Social Responsibility (CSR). The new innovations which can differentiate the company from the competitor are  Implementation of Heart-beat checking system in wrist watch. They were as follow. such as employee welfare.  High Income/Elite consumers In this segment mainly the consumer who buys a wrist watch as a fashion accessory. the environment and the welfare of the community at large.  Implementation of Blood pressure checking system in the wristwatch  Some companies can come with the watch which help in knowing the mood of the person. Technological changes The new marketing innovation can bring a drastically changes in the marketing activities of the company. Target market Identification The titan industry basically deals in three segments for its watches. It uses its resources in the best possible way.  Middle group: [34] . other companies will give a tough competition to titan. And in the mid-price segment. These CSR initiatives are spread across three core areas.technology. Tata adopt the Corporate Citizenship Index. Tata spends 5-7% of its profit after tax on several CSR initiatives. B.

Lower-income people:This segment mainly consisted of lower. B. Market share: [35] . These consumers would not purchase a watch without comparing various offers in the market.600-1. Raga through pricing policy. Survival: In case of some of the watches titan prices them according to the features . of respondents 46 25 36 15 4 · · PROMOTION PLACE Price: As achieve our marketing our marketing objectives. we can do some change in the pricing . A.income consumers who want watch mainly as the time –keeping device and purchase on the basis of price 3. As the company also deals with Spectra.In this segment mainly consumers like some fashion in their watches.9 Marketing Mix: · · PRICE PRODUCT Types of media TV Magazines Newspapers Hoardings Radio No.100.The Exacta is a simple steel watch priced at Rs. The main consideration will be in changing price are followings.

Product strategy: Titan was first focused only on the premium segment of the watch market. the emphasis is on profits and image but not in volumes. watches in pair. Product pyramid: Portfolio of Titan’s product is of 3 distinct price-range that can be defined in general. This pyramid guided the strategy of Titan. C. As to achieve the marketing objectives this aspects should also be considered. To widen base. Titan moved in to the mass market for watches. Obviously. At the premium segment. therefore market with low prices to international players to gain market share. D. At the popular segment. the difference in the prices of the watches are justified by the features. Titan created new segments and increasingly focusing on segments individually. In the past few years Titan has took a lot of initiatives to focused on specific segments. As per the product strategy they took. Product: Quality and leadership are the two main terms for the Titan. Mid. Product Quality: Quality and leadership are synonymous to Titan. and Premium. Titan prices its world watches which compared equal to an international players like Calvin Klien where a customer pays 4 times as value of the world watch. It seek to achieve both through their value for products compared to their prices. company giving more emphasis at the top of the pyramid as profits at the top of the pyramid is very high. C. Here Titan offers there product with the Indian touch in its design. B. the emphasis is on in volumes but not in margins.As we know that 70% of sales in watches come from the lower segment. Promotion: Promotional pricing: [36] . the product. the love. Product line: To increase the sales. jewellery watches. as Popular. Market Skimming: In Indian watch industry there is no one offering pure gold watches. therefore by pricing Sonata at 350 onwards with guarantee. A.

Marketing pricing: As by opening new shops such as the world of Titan – buy di- rectly from the dealer and hence the element of middleman is not there. The allowances varies from one segment to another. as now she is one of the popular actress in Bollywood. providing the customer with variety in brands. Creative advertising: Titan introduces a contest on cartoon network in india. innovation. well made. Price discount and allowances: Every year Titan comes with a price discount sale on the MRP of the watches. As the company is using celebrities or superstars that is Amir Khan for the Titan watches. value for the product. trust worthiness. C. Titan distribute its product and set up ‘world of titan’ in different region. A. As here we can say that a female actress would be more effective for the promotional purpose. especially in urban area(because the turnover in urban area is 210 million. The prize winning design was launched as a new watch in summer 2002 collection . B. Type of advertising: Titan believes in making its ads clean. Here the retailer in this category buys watches for 17-18% lesser than MRP and hence they are able to get the 17% profit margin on sales.A. Place: Keeping in mind about the young trendy and fashionable consumers. looks and price ranges and also efficient [37] . touch on emotional chord. The consumers life style in India. It can be Katrina Kaif. increasing buyer image. Promotion on occasion: Titan is one of the company which formally believes in the policy of promotion the product based on the occasions. Time Zone: Titan Industries brings together the country’s leading watch brands under one roof. while the turnover in rural area is 90 million) plays a significant role in the success of Titan. It is managing to successfully convince to the customer of the perceived value of ‘WORLD WATCH’ using hoarding all around the city.com which invites children to use creativity and design watch. differentiation.

These shops had full stocks of the watch in demand whereas the others could afford to maintain only limited stock. C. B. 3. This is to make the customer go to the shop rather than the shop calling the customer and hence the locations are not very suitable for shopping. Cultural Factors · · · Value. Sonata store meet the large scale demand for the watch and also to attract customers in more. However these shops would not be placed in the main locations and not working as a normal shops.10 Consumer Buying Behavior Cultural Social Culture Subculture Social Class Reference group Family Roles and statuses Personal Age and life-cycle stage Occupation Economic circumstances Lifestyle Personality and self-concept Psychological Motivation Perception Learning Beliefs and attitudes Buyer A. By doing these it offering fabulous value for money with the same warranty as a regular full-priced watch enjoy. These 1142 Time Zones located across 89 towns which offer its customer the complete watch shopping experience. religion. perception. geographical regions Social class B. and preferences Nationalities. Value Mart: These outlets sell surplus stocks of Titan watches at reduced prices. Sonata Stores: Sonata stores is also an Authorized Service Centre for Sonata & Titan brands.after-sales service. Social Factors · Reference GroupsSocial Class [38] . race.

- Dress Wear Titan has three brands positioned for this segment: Nebula. high-end jewellery watches have that added bonus: practical luxury with a function other than beauty. Regalia and Insignia. It is marketed as a “watch for discerning individual” positioned as a gold jewel. Watches have joined the list of tie. Magical blend of most coveted of metals. They are also realising that.· C. [39] . Psychological Factors · · · · Motivation Perception Learning Beliefs and attitudes  Men’s segment: With Titan positioning its range of watches as a life-style. Nebula: Marketed as the “Jewellery collection from Titan”.5500. Regalia: “Incredibly eye-catching…. Gold and craftsmanship. Nebula is more of a connoisseur watch with the lowest price model at Rs. magic in gold”. Nebula is targeted towards affluent men who consider wearing gold jewellery a symbol of status. Roles & Status Personal Factors · · · · · Economics Circumstances Occupation Age & Life Cycle Stage Lifestyle Personality and self-concept D. unlike other forms of art that are meant to be admired. the Indian market started viewing watch more as a complement to dress than just a time showing machine. deodorant and shoes to represent the occasion and flaunt your status.

Royale with its gold plated case and golden straps represents a formal every day watch targeted towards the employees who can’t afford multiple watches for occasions. the silver-look is the fashion of the day in international watches. With the combination of both. Insignia: ‘The World Watch from Titan. Royale: “Collection of designs that suit everyday wear”. Though it didn’t meet with much of a success in Europe. this watch is targeted towards affluent businessmen. - Classic Watches Watches that are for every-day use and those with less frills and more value are classi- fied as Classic watches. The watch [40] . positioning this as a costly gift.The watch uses the unique combination of gold and bicolour looks representing the essence of dress-wear.’ The watch with fascinating designs and precision engineering was targeted towards the European markets. In India. These watches are generic in their simplicity and find no real competitors except HMT. Classique with its looks fits the formal corporate image and is positioned as a watch for corporate employees. gold-look is associated with status but at the same time. This also reinforces the importance of watch along with the dress worn. The elegant looks and colours make it a strong competitor to the foreign brands like the Tissot. Piaget and Rado. Classique: “Power dressing now has a new weapon!” “Timeless elegance captured on the wrist.” Classique' is marketed as a fusion of function and sophistication. this tag line and keyword “International” are used to position this watch as a world-class watch for international traveller with European tastes. These watches are normally targeted towards middle and upper middle-income class consumers. The complexity of this watch is 10 times more than a regular titan watch. This is also marketed as a watch for gift “Special Watch for special occasion”.

includes designs from simple to dressy eveningwear switching between informal and formal looks based on the place and situation. Titan Fast Track “Cool watches from Titan”. The brand is marketed as tough. [41] . So there is no clear distinction between sports watches and casual watches. PSI2000: Titan has introduced a range of contemporary Precision Sports watches.Heur has also entered India but in the Connoisseur segment of sports watches. The positioning of the watch is not very clear as it is targeted towards the salary earners with its lower price point models and appealing models for the corporate executives at the higher end. - Casual Wear: The segment of watches that has a variety of brands and models to appeal to the youth and mentally young people is casual wear. This brand from Titan extends over wide range of prices from 900-7000. Spectra: “Designed for those who look beyond the ordinary”. which boasts of combining the sturdiness of steel with richness of gold. these watches are in direct competition with foreign brands like Swatch Irony. (Psychographically segmented) Ranging from 800 to 7500. A sports watch in the mind of an average Indian is a polyamide watch with stopwatch and trendy look. adventure brand. outdoor. which are unconventional and typically symbolize the attitudes of younger generation. Casio. It is a classic premium watch with style. world famous Tag. and Titan are major players and after the lifting of QR restrictions. But in the available market Timex. The watches in this segment are mainly sporty watches. And the market is not ma- ture enough that consumers buy special watches for sporting except in the super-premium and segments above that. - Sports Watches In the Indian scenario the sport awareness is not quite there.

The Fast Track user.a time showing convenience ma- chine to a status symbol. This brand is positioned to compete against the Citizen’s EcoDrive. achievement oriented person. The Nebula range of watches is positioned as objects of ornamentation. wears branded jeans. In to the competitive market with people willing to pay a premium for that advantage. status has in the new technology era is looked for convenience of carrying data. A 21 carat gold watch.The target audience for this watch. It is marketed as ‘a magical blend of most coveted of metals and engineering excellence’. This brand is marketed as mergers of classic elegance and technological mastery giving rise to multi-functional chronographs using the solar power. The Fast Track personality is that of a young. this watch from Titan has virtually very few competitors because no one offers the feature combination and price but Casio (in digital range) and Espirit and Swatch (in the analog range) can be considered as competitors feature-wise. But the underlying concept remained unchanged. sunglasses and branded informal shoes. shirts. Stretching this concept a bit with the development of technology are the technology watches available in the market. a good number of brands have ventured. Built around the Cool concept. who seeks to express his or her individuality by braking free from constraints of formal environment.  Women’s segment - Dress Wear Titan has chiefly three brands in this category. Technology (2350-8200): “Multi-functional watches for the Tech-savvy”. [42] . in terms of attitude is one who wears an informal dress. energetic. Watch for time. in the 20-35 age group include working adults and postgraduate students of both sexes in metros and mini metros. convenience. - Technology Watches Wrist Watches have changed a lot from the inception. Nebula (6000-65000)“The Jeweler’s Collection” Nebula is a precious jewellery watch from Titan. without being a rebel. studded with gems it is targeted at the upper most end of the market in competition with brands such as Rolex and Cartier.

It is marketed as “Incredibly eye catching…magic in gold”. The designs and the bracelets represent traditional Indian ornaments as well as contemporary style. they were positioned as “Watches for all dresses” with changeable dials matching the sari color. Each piece is truly unique and represents elegance. which is trendy and chic.1800 onwards. It is available in many price points between Rs. Raga and the Silver Raga Raga and the Silver Raga collection are positioned as “Ethnic Indian styling for the sophisticated woman”.Regalia Regalia range is positioned as “Essence of dress wear”. At the beginning. Keeping in mind Indian women’s love for jewellery. - Casual Wear Fastrack The woman's collection presents the all-new international 'Frosted' look. both these brands are repositioned as a perfect accessory that completes a woman's wardrobe. The positioning of Fastrack for men and women is almost the same. achievement-oriented. when the brands were launched. aims at building the brand around the ‘cool ‘ concept.  Children’s Segment [43] . energetic. The ad line : ‘Fastrack. without being a rebel. who seeks to express her individuality by breaking free from constraints imposed by formal environments. Both the watches are exclusively designed to appeal to women more as an ornamental possession than a watch. Fastrack is targeted at a personality that is young. With the unique combination of gold and bicolor looks and sleek case.‘Cool watches from Titan’. But the proposition was viewed with skepticism and hence didn’t meet with much success. delicacy and feminine. Regalia is targeted towards middle-aged women who consider watch to be a status symbol and also representing their delicacy. The Silver Raga has been crafted exclusively for the sophisticated woman who believes in value-for-money and who wears silver jewellery with élan.

000 -1.350-500.20.Titan has a brand called Dash! for kids. the SONATA range.495 and are marketed under the ad line: “Wow! Watches from Titan”. changeable bezel rings.  High class: Titan offered Aurum and Royale in gold watch range .500700.000. priced at Rs.They were Dash also has a special collection for girls.00. There were 100 different models in the range. There is also a Digital Range. Velco straps.  Lower-income group: Titan offered the Timex watches and later. and his friends. The three main collections from Dash include the ‘Popeye Collection’. These are bright. which has features like Ellight.  Middle income class: Titan offered the Exacta range in stainless steel.295. when the ar- rangement with Timex was terminated. colorful watches targeted at children aged 6-14 years. compass.There was 200 different models in the ranges.250 onwards to Rs. The current need can be satisfied by the following ways in the different segment. Need Analysis: Consumers need The demand and the need vary one market segment to another segment on the basis of prices & quality. These watches are priced Rs. Its features such as comic characters also appeal to the frivolous nature of the children. Current Marketing Objectives and Performance: Review of Marketing Objectives [44] . The price is between Rs. The prices ranges were Rs. The prices ranges are between Rs. So Titan is positioning Dash watches as ‘Fun’ watches for kids. which feature cartoon character Popeye. with stylish watches in all gold and precious metals.

3. Performance Analysis Titan Industries achieved significant growth during the year ended 2007-08.7 crore. the company seeks to reach the height of excellence atmosphere which is free from fear and threat.Current marketing objectives of TATA is to strengthen India’s Industrial base through the proper utilization of resources like employee and materials.11 STP Analysis The STP Process [45] . Watch segment sales also grew by 17.2 per cent to Rs 918. Besides. All brands of the company have performed well and new introductions in gents’ watches. the Raga Crystal for ladies.

SEGMENTATION Dividing the market by grouping the customer with similar tastes and preferences into one segment is called is called “segmentation”. TITAN PERSPECTIVE [46] . Segmentation is also sometimes identifying. Segmentation help marketers understand the needs of different customers better and serve them with better value propositions. TITAN PERSPECTIVE Titan has segmented its business into three main categories:    Mass Mid-premium luxury B) INDIVIDUAL MARKETING: Individual Marketing is the extreme level of segmenta- tion in which marketers focus on individual customers. The levels of market segmentation are: · · · · Segment Marketing Individual Marketing Niche Marketing Local Marketing MARKETING: Marketers target more than one segment when it is not A) SEGMENT economically feasible to design products and services for individual segments. Depending on their marketing approach and the nature of the products marketers can adopt different level s of segmentation. A market comprises of different consumers possessing innumerable tastes and preferences. capturing and retaining potential new markets. The focus of segmenting the market will be on providing enhanced service to the customer by offering customized products that will satisfy the needs and wants of customer in that particular segment to a large extent.

so that the customers can identify the product with those dignitaries. states. But some products which are available in UK have some pictures of eminent personalities on their Dial like M. occupation. Mr. income. regions.Titan has not applied this for its marketing. and cities. etc. family. religion. Jawaharlal Nehru. Demographic segmentation: In this the market is divided into groups on the basis of variables such as age. social class. nationality. life cycle. countries. education. typically a small mar- ket whose needs are not well served. TITAN PRESPECTIVE In a study conducted to study the customers of watch market. race. So. TITAN PERSPECTIVE All the products of TITAN are addressed to all the customers as a whole. it is revealed that 42% of them are youth. Gandhi. CRITERIA FOR SEGMENTING CONSUMER MARKET: Markets are mostly segmented on the basis of geographic. The prominence of local marketing has also become very dominant. These variables are the most popular basis for distin- [47] . Localized products are not available.K. gender. generation. Marketers usually identify niches by dividing a segment into sub segments or defining a group seeking a distinctive mix of benefits. demographic and psychographic factors: Geographic segmentation: It calls for dividing the market into different geographic units such as nations. size. TITAN tried to target this by: · · · introducing FAST TRACK price offering from Rs 500(affordable) watches with style statements D) LOCAL MARKETING: Marketing programs being tailored to the needs and wants of local customer groups. C) NICHE MARKETING: A niche is more narrowly defined group.

c) For the age group 30-55. Sonata. brands like TIMEX. flip) Gents (flip) Ladies (raga) Married couples (bandhan) Income: Marketers tend to segment product and services on the basis of income groups. [48] .guishing customer groups. SONATA. magazines etc. There are certain brands. sonata. nebula. technology. b) For the age group 18-30. etc. These tastes and preferences are not constant and change with time. Nowadays. brands like SONATA. STEEL. REGALIA. edge. regalia. brands like FAST TRACK. TITAN PERSPECTIVE Titan markets its product across:     Sex (steel. NEBULA. · Gender: Gender segmentation has been applied to clothing hairstyling cosmetics. etc. TECHNOLOGY. companies have recognized the potential of lower end income groups and have started targeting them. BANDHAN. The following are some of the demographic variables used to segment the market: · Age and life cycle stage: Consumer wants and preferences change with age. TITAN PERSPECTIVE Titan markets its products for all following age groups: a) For the age group 12-20. which are positioned exclusively for a specific sex. etc. fast track. wristwatches. RAGA.

Between Rs (3000-5000) . And through constant innovation Titan developed many products for new generations like FAST TRACK.Between Rs (1500-3000) .TITAN PERSPECTIVE Titan offers its products with a price range to suit the different income groups such as: . TITAN PERSPECTIVE [49] .Between Rs (5000-10000) . · Social Class: Social Class segmentation is influenced by customer choices of automobiles. TITAN PERSPECTIVE Titan has many products to satisfy all the generations. TECHNOLOGY.Above Rs 10000 · Generation: Generation plays a major role in segmenting markets. The tastes and preferences of the social class also change according to time.Between Rs (500-1500) . FLIP etc.Below Rs 500 . clothing preferences etc. Such influences deeply impact their product purchase pattern. Every generation is deeply influenced by various activities. interior decoration.

Titan has realized the demand of the society and has marketed its products for each of the following social strata. Always splash oomph on to your ward robes and smear danger on your look. In this category. etc.TIMEX and KARISHMA . TECHNOLOGY.These products have digital technology & of trendy shapes. KARISHMA. and NEBULA for this segment. FAST TRACK etc. People usually buy the product which suit their lifestyle TITAN PERSPECTIVE According to the life style of people Titan has segmented it’s product to fit the box. Titan has TIMEX. And in the mass section. watch is a fashion statement. values. GOLD-STEEL. sapphire crystal. In this range. lifestyle.  Second Segment: For this segment also. Titan has ROYALE. social group etc. · Lifestyle: People generally exhibit different lifestyle depending upon their income.  Third segment: For this segment.TECHNOLOGY.  First segment: For this segment. SONATA.like in the luxury section it has NEBULA. Psychographic Segmentation: Buyers are divided into different groups based on personality. watch is just an device to show the time. TITAN PERSPECTIVE [50] . etc. AURUM etc. AURUM. They endow their products with brand personalities that correspond to consumer personalities. scratch resistant. watch is all about fashion but price does matter to them. etc. They invest after a lot of thoughts. Titan has RAGA. · Personality: Marketers can use personality variables to segment markets. These products have specialties like European leather. crafted with 18 ct. solid gold & inlaid with precious stones. motivation. In the mid-premium section RAGA. People within the same demographic group can exhibit very different psychographic profiles. it has SONATA. belief.

the segmentation is also related to that. TITAN PERSPECTIVE Time has the same value for all irrespective of cast. 99 products In formal category. STEEL. TITAN PERSPECTIVE Titan also offers occasion specific products like Formal (NEBULLA.Titan advertises its products by portraying movie stars as user of its products and it offers a lot of option to its customers. · Occasions: Markets can be classified on the basis of various occasions that customers encounter because people need different products for different occasions. For example:In economy category. RAGA. GOLD&STEEL. 76 products ry. 60 products ry. loyalty. benefits. GOLD&STEEL. RAGA. GOLD&STEEL). BEHAVIORAL SEGMENTATION: Organizations can divide markets on the basis of behavior that consumer shows towards the usage of the products. FAST TRACK) [51] . creed and sex. Titan successfully segmented its products according to customer values. But it is basically related to type of generation they are in to. 26 products In sports & casual category. user status. 14 products · In luxury catego- In fashion catego- Values: Values affect customer behavior in the long run. ROYALE). STEEL. Dress wear (REGALIA. RAGA. Fashion (TECHNOLOGY. Still. usage rate. So. etc. Marketers can use values and beliefs to segment the markets. Various variables for segmenting market on the basis of purchase behavior of customers are occasions.

psychographics and media graphics of the respondents.· Benefits: Market is divided on the basis of the benefits customers seek from the products. Profiling stage: Here each cluster is profiled according to its distinguishing attitudes. and media graphics and media patterns. Each [52] . geographic. Marketers are usually attracted to heavy users than other type of users. · Usage Rate: The usage rate of a particular product/service can be divided into heavy. demographics. It’s products have good life cycle. Service stage: Here the researcher conducts exploratory interviews and focused groups to gain insights into consumer motivations attitudes and behaviors. behavior. It provides a huge product range to choose from. 2. according to the intensity of their loyalty to these brands. TITAN PERSPECTIVE Titan product has benefits like:    It provides the”TITAN WORLD” SERVICE CENTRE in 174 towns. medium and light. attitudes towards product category and demographics. 3. · Loyalty Status: The loyalty status of a particular market can be divided into different groups. MARKET SEGMENTATION PROCEDURE It is a three step procedure: 1. product usage patterns. Benefit segmentation can be used to position various brands within the same product category. psychographics. Analysis Stage: In this the researcher applies factor analysis to the data to remove highly correlated variables then apply cluster analysis to create specific number of maximally different segments. Then the researcher prepares a questionnaire and collects data on attributes and their importance ratings. brand awareness and brand ratings.

its coverage and other factors like the product distribution facilities play a major role in a marketer becoming accessible to customers. · Accessible: The segment of the market that a marketer is trying to target should be accessible to him. The attractiveness of the segments is also depending on other important factors. These are discussed below: · Measurable: The variable used for the segmentation of the markets should be measurable to be effective. · Substantial: When dividing the market into segments. TARGETING It is the second stage of the Segment “Target” Position (STP) process. · Actionable: A segmentation variable should help marketers develop effective marketing programs to attract and serve potential customers effectively. a company should not directly start targeting all these segments. The four sub activities within targeting are: [53] . a variable like the purchasing power of potential customer is measurable. Market segmentation should be redone periodically because they change. EFFECTIVE SEGMENTATION: For effective segmentation. Each segment requires different marketing strategies because it responds to different strategies differently. For example. · Differentiable: Each segment of the market should be different from others in terms of its needs and wants. In the main activity of defining a target market. a marketer should take enough care to see that each segment consist of adequate number of customers worth catering to. The appropriate selection of the media.segment is given a name depending on its dominant characteristics. four sub activities are given which are the bases for deciding on which segments will actually be targeted. segmentation variables need to exhibit certain characteristics. After the most attractive segments are selected.

Raga is targeting the upwardly mobile ladies in the upper premium segment. the whole market. Resources and efforts will be targeted at the: A) The first is the single segment with a single product. B) Secondly.the marketer could ignore the differences in the segments. [54] . After the market has been separated into its segments. For example. the marketer targets a single product offering at a single segment in a market with many segments. and choose to aim a single product at all segments i. the marketer will select a segment or series of segment and ‘target’ it/them.1. Deciding on the actual target markets. In other word. Defining the abilities of the company and resources needed to enter a market 2. Analyzing competitors on their resources and skills 3. For example. Sonata and Fast track brands of Titan are targeting mass and mid premium segment.e. Titan’s sub brand. Considering the company’s abilities compared to the competitors’ 4.

A brand name represents the image. Following is the table which represents the various sub brands and their targeted segments of TITAN. POSITIONING Introduction: The importance of an image has become an emotional part of everyone. easy to remember. there is a multi-segment approach. lucid. Here a marketer will target a variety of different segments with a series of differentiated products.C) Finally. character and personality of a brand. Titan itself provides with the number of different brands/products which are targeting different segments in the market. distinct from the competition and should not be generic to the category. It should [55] . A brand name should be clear. For example.

personality. homegrown brands dominate many sectors . Position is that one thing that one descriptive sentence or slogan the company is known for that one specific idea that first comes to mind about the product. As someone rightly said "Brand loyalty is not dead. Vast flow of names today makes a brand harder to differentiate them unless they come out with their own uniqueness. local and regional brands still remain strong. behavior. to name but a few. What is meant by brand positioning? Positioning is statement that shows how you are different. ethics. Brands have become assets in their own right.Tata automobiles and Titan watches. All around the world we have witnessed the disappearance of local brands and local variants. Why are brands so important? Strong brands help a company to maintain market share in the face of a changing competitive environment and it has been shown that a strong market share is associated with above-average profits.” [56] . they could come to their special position in everyday life. The importance of brands depends on the true ambitions of the company. The image following a particular name is also determined by the role of communication it undergoes. values. The increasing spread and domination of international brands has seemed inevitable for at least the last 30 years. It is that one characteristic that sets the service apart from competitors. better or more special than your competition. protected for many years by government policy from the invasion of foreign brands. Brand loyalty is one thing which has made the branding more popular. In addition. But despite this trend. of which the followings are included: its manner. For Volvo that one thing is “Safety.brands that make them feel part of wider international community and brands that root them in their home culture. etc. In the end people want both global and local brands .become customer's Top of the mind brand (TOMB). it's just more like loyalty to a girl/boyfriend than loyalty to a husband/wife". for example. This way. they represent low-risk opportunities for the manufacturer or service provider and they also represent reduced risk for the consumer. In India. Most successful brand names would satisfy these criterions to quite an extent.” McDonalds is “A fun place for kids.

But today there are so many choices for consumers that this term has a secondary derivation-"whitewashing. Titan then moved away from gifting. Titan was positioning itself as a fashion accessory rather than a time keeping device. we are all influenced by the effects of a powerful brand positioning-"brainwashed. Titan initially pioneered the concept of "Gifting watches". The ads were fresh and neat- [57] .” Why brand positioning is important? We need to be clear about why it is important to position a brand-and exactly what a brand is. Titan also found its persona in Mr." That is. This is why it is critical for a brand to be well positioned and uniquely differentiated." so to speak-to have preference for one versus another. easily caught the imagination of the market. We can determine the market position of a brand on the basis of the answers to the following four questions: 1 Why (which benefits and advantages does the new brand bring to the consumer) 2 When (determining the opportunities for which the brand is most suitable) 3 For whom (it is about the determination of the consumer of a brand or target group) 4 Against whom (determining the main competitive brands) TITAN PERSPECTIVE a. Aamir khan which provided the much needed edge to the brand. The ads captured the essence of gifting and along with the trendy music. Indonesia. Titan was careful in keeping the brand above the celebrity.In Jakarta. What does the result of brand positioning research show? The market position of a brand shows where a specific brand is located. b. Bluebird is “The safest way to travel by taxi. It also shows the relationship to competitive brands. As consumers. the brand choices are so varied and the differentiation so minimal in terms of product functionality that we're faced with a sea of indiscernible offerings. Customers who were fed up with ugly time machines welcomed the brand and Titan had a dream run for many years.

And TIL found that it was not safe even at the bottom of the pyramid. d. The appointment of Aamir Khan as brand ambassador for the Titan brand was seen as an attempt to broad base the appeal of the Titan brand. The company decided to use Aamir in brand and product communication on television and in the print and outdoor media. this is strategy that is worth trying out.ly executed. foreign brands were becoming increasingly popular in the early 2000s. Titan also was pushing another strategy. Chapter 4 . Again the strategy aimed at promoting the multiple watch owning concepts. the company relaunched the brand lowering the target segment to 18-30 year olds with the baseline “How many you have?". Though. Then the company found out that the youth in the age group of 11-20 years account for 42% of watch buying in India. c. thanks to the paradigm shifts in the retail scenario and the growing affluence of the Indian consumers. The idea was to make watches that would be seen as style and fashion accessories rather than just utilitarian devices. Based on this insight.Company Profile 4. For Titan. The grey market with cheap Chinese imports and the unorganized sector had cornered a sizable chunk of the low-end market. So Titan pushed the concept of "Matching Watches to Clothes" in the recent commercials. It has created the much needed freshness in the brand. Earlier Fastrack was targeted at 20-25 year olds and positioned along the line "Cool watches from Titan". the vast distribution and service network of TIL had served as an effective entry barrier in the 1990s.1 Overview [58] . even if the concept fails. Watches were perceived as a onetime buy and consumers seldom owned multiple watches. Fastrack also launched a range of fashion accessories like Sunglasses trying to be a lifestyle brand. Since men are becoming more serious customers of fashion accessories.

Leveraging its understanding of different segments in the watch market. Titan for the premium segment. The Company leveraged its manufacturing competencies and branched into Precision Engineering Products and Machine Building from 2003. the company launched its second Jewellery brand. It has also premium fashion watches by acquiring a license for global brands such as Tommy Hilfiger and Hugo Boss.2 Products The company manufactures over 8 million watches per annum and has a customer base of over 80 million. Sonata for [59] . offering quartz technology with international styling. Fastrack – focused on the youth and trendy fashion space. Dehradun. In addition it focused on the youth with its third brand – Fastrack. the company diversified into jewellery under the brand – Tanishq to capitalize on a fragmented market operating with no brands in urban cities.800 people. It has also in its portfolio its first Swiss Made watch brand – Xylys. manufactured in a state-of-the-art factory at Hosur. Gold Plus. as a value brand to those seeking to buy functionally styled watches at affordable prices. while. The company has now diversified into fashion Eyewear by launching Fastrack EyeGear sunglasses. In 2005.Titan Industries was established in 1984 as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Tamil Nadu. Titan and Tanishq are among the most admired brands in their categories. Its main products are: · Watches : Currently manufactures four main watch brands viz. the company launched a second independent watch brandSonata. The company brought about a paradigm shift in the Indian watch market. as well as Prescription Eyewear. Roorkee and Baddi in Himachal Pradesh and an ECB plant in Goa. In 1995. for capitalizing on the opportunity in small towns and rural India. It has manufacturing and assembly operations at Hosur. Today Titan Industries is India's leading manufacturer of watches and jewellery employing 3. 4.

3 Precision Engineering [60] . the Titan portfolio has about 65% of the domestic market share in the organized watch market. all of which form a part of the Titan wardrobe. Accessories and Contact Lenses of in-house brands and other premium brands. primarily in the Middle-East and Asia Pacific. Sonata is today India's largest watch selling brand and is priced between Rs 295/. Lenses. WWF and the Aviator series. Its after-sales-service is itself a benchmarked operation with a network of 750 service centres and amongst the world's fastest turnaround times. Platinum jewellery is also a part of the product range Tanishq is one of India's largest speciality retailers and is transforming the jewellery market in India 102 boutiques in 72 cities across the country. ‘Gold Plus' is the recent retail offering for the mass market with plain gold jewellery selling through 19 stores in 19 towns. Diva. 4. Heritage. · Eye wear : Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and has sunglasses under Fastrack brand and prescription eyewear consisting of Frames. Nebula . Orion. · Jewellery : Tanishq is India's largest and fastest growing jewellery brand with a premium range of gold jewellery studded with diamonds or coloured gems and a wide range in 22kt pure gold. Today. The company has a world-class design studio for watches and accessories. Sunglasses. Notable among them are: Titan Edge – The world's slimmest watch which stands for the philosophy of "less is more". The jewellery division has its own design studio. It also markets Tommy Hilfiger watches under a licensing arrangement and is introducing Hugo Boss. Regalia.crafted in solid gold and precious stones and several other collections like Wall Street.the mass market and Xylys for the premium market.and Rs 1200/-. Titan watches are sold through over 12.500 cities and internationally in over 30 countries. making it amongst the largest chains in its category. Octane.000 outlets in over 2. The Titan brand architecture comprises several sub-brands. The company's first Swiss Made watch – Xylys is for the hi-end connoisseur and new age achiever. each of which is a leader in its segment. Titan Raga – the feminine and sensuous accessory for today's woman. · · The company has 255 exclusive showrooms christened 'World of Titan'. Zoop.

Chapter 5. The division also provides fully integrated Automation solutions 4. · The Titan Design Team won the Young Design Entrepreneur of the Year award at the design awards instituted by the National Institute of Design and Business World. · · Titan has won the Brand Leadership award at the India Brand Summit. a leading Indian financial daily.The company's Precision Engineering Division supplies precision components to the avionics and the automotive industry. It also manufactures dashboard clocks as OEM to car manufacturers in Europe and America. · Both Titan and Tanishq have been adjudged "Most Admired Brands" as well as "Retailer of the Year" by Images Fashion Forum in consecutive years. The Time Products Division of the company was awarded the JRD QV Award in 2006.4 Awards The company has been awarded the following distinctions: · Being named the No. a leading Indian magazine. · Retail Asia and Media Magazine – Singapore adjudged Titan Industries as amongst the leading Retailing Companies in India. Which sub-brand of Titan watches do you possess? Figure 1: Titan sub-brands possessed by respondents [61] .1 Brand in the Consumer Durables category in the "Brand Equity" Survey of The Economic Times. The team has won 7 accreditations also.Data Collection and Survey Analysis 1.

Table No1: Titan sub-brands possessed by respondents S. 6% Raga. It was found that around 72% of the consumers in the age group of 20-30 years possess Fastrack brand. 14% Sonata. 2 . 4% Nebula and only 2% own WWF and Edge.NO.Since how many months / years have you been using Titan watch? Figure 2: Period of Titan watch’s use [62] . 1 2 3 4 5 6 Fastrack Sonata Raga Nebula WWF Edge Sub Brands 72 14 6 4 2 2 Percentage % Survey Analysis: Titan sub-brand owned This was a multiple choice question where respondents were asked to choose subbrands of Titan which they possess.

e. Why do you prefer Titan brand? [63] . 64% of the respondents fall into first category. The minimum period of use was set as one year. i. while the maximum period of use was determined. For convenience..Table No2: Period of Titan watch’s use S. This was an open ended question and hence various responses were received. they are using Titan watch in the range of one to four years.NO. the different responses are categorized into three: 1year – 4years. 3. 24% respondents are in second category and the rest 12 % are using it for more than seven years. as mentioned earlier. 4years – 7years and 7years – 10years. 1 2 3 1-4 4-7 7-10 Period Of Usage Years 64 24 12 Percentage % Survey Analysis:Period of use The respondents were asked to mention since how long they have been brand loyal to Titan.

of respondents (out of total 50) Survey Analysis: Reasons for brand loyalty The respondents were asked to select the reasons from the options given for their preference for Titan watches. 4. For this question. Do you remember the original tagline of Titan watches? If yes.Figure 3: Reasons for brand preference.NO. Figure 4: Recall of Titan’s original tagline [64] . 1 2 3 4 Reasons Attractive designs Reasonable Price Brand image Good quality 39 7 22 25 No. multi-responses were received. please mention. Table 3: Reasons for brand preference S.

i.e. This tagline was adopted during first rebranding exercise in 2004. 1 2 YES NO Recall of Titan’s Tagline 22 78 Percentage % Survey Analysis: Recall of Titan’s tagline Titan’s tagline. Have you seen the advertisement of Titan watches? In which media have you seen the advertisement? Figure 5: Major advertisement media [65] .. before brand repositioning exercise has been undertaken. was “What’s your style”. as “yes” or “no”. It was found that only 22% of the respondents were able to recall the tagline and the remaining 78% answered in negative.Table No 4:Recall of Titan’s original tagline S. The respondents were asked to indicate whether they remember the tagline in dichotomous way.NO. 5.

5 Major advertisement media S. newspapers. newspaper. billboards. The advertisements can be seen in TV. hoardings. This was a multi-response question and the options given to select were restricted to TV. All the 50 respondents have seen the advertisements of Titan watches in various media. 1 2 3 4 5 TV Magazines Newspaper Hoardings Radio Major Advertisement Media 46 25 36 15 4 No.Table No. hoardings and radio. of respondents (out of 50) Survey Analysis:Titan’s advertisements Titan advertises its watches in almost all media vehicles.Who is the brand ambassador of Titan watches? Figure 6: Awareness of brand ambassador [66] . magazines. 6. magazines. radio and so on.NO.

7. Of Respondents (out of 50) Survey Analysis: Brand Ambassador of Titan Aamir Khan is the brand ambassador of Titan since 2004. it was found that 46 of 50 sample size were able to correctly mention the brand ambassador while the remaining 4 did not give any response implying that they are not aware of it. 1 2 Awareness of Brand Ambassador Don’t know Correct responses 4 46 No.Table No 6: Awareness of brand ambassador S. When the respondents were asked to recollect the same.NO. Are you aware of the new tagline of Titan? Figure 7: Awareness of new tagline [67] .

NO. 8. 36% of the respondents could correctly mention the tagline while the rest are not even aware that Titan has adopted major rebranding strategies last year.Table No 7: Awareness of new tagline S. How do you rate the new designs of Titan? Figure 8: Consumer perception of new designs [68] . 1 2 Aware Not Aware Awareness of new Tagline 36 64 Percentage % Survey Analysis: Awareness of new tagline – “Be More” The survey has revealed that less than half of the total numbers of respondents are aware of new tagline.

“above average”.Table No 8: Consumer perception of new designs S. The respondents were asked to rate the new designs as “poor”. Have you seen the new campaign of Titan? Figure 9: Awareness of new campaign [69] .NO. 9. 1 2 3 4 5 Poor Average Above Average Good Excellent Consumer Perception 4 39 7 No. of Respondents (out of 50) Survey Analysis: New designs of Titan Titan has launched several new designs in 2008 in its existing collections and as per its plans introduced new product collections also. “good” and “excellent”. 39 have rated them as “good” and 4 have rated as “average”. 7 respondents feel that their designs are “excellent”. “average”.

NO. 10. Do you think the new advertisement is effective in inspiring consumers to have a new look everyday and be more in lives? Figure 10: Consumer perception of new campaign [70] . 1 2 Awareness Of New Campaign Aware Not Aware 50 50 Percentage % Survey Analysis: New Campaign of Titan The survey has revealed that the percentage of respondents who have seen the new campaign focussing on “be more” featuring Aamir Khan is 50%.Table No 9: Awareness of new campaign S.

Table No 10: Consumer perception of new campaign S. How do you rate Titan’s exclusive showrooms ? Figure 11: Consumer perception of store ambience [71] .Of Respondents (out of 25) Survey Analysis: Rating of New Campaign The 50% of the respondents who have seen the new campaign were asked to rate it with respect to how effective the campaign is in inspiring consumers to have a new look everyday and be more in lives.NO. “effective” and “highly effective”. The respondents were asked to rate it as “not at all effective”. 16 out of 25 respondents consider the new campaign to be “highly effective” while the remaining 9 rated it as “effective” 11. 1 2 3 Consumer Perception Of New Campaign Not at all effective Effective Highly Effective 16 9 No.

12. Of Respondents (out of 50) Survey Analysis: Titan’s exclusive showrooms The respondents were asked to rate Titan’s exclusive showrooms on 5 point rating scale – Poor. after sales service and display of watches. Good and Excellent.Table No11: Consumer perception of store ambience S. How do you rate Titan’s showrooms sales personnel ? Figure 12: Consumer perception of sales personnel [72] .NO. Above Average. The factors related to showrooms that were provided to the respondents for rating are – store ambience. Average. 36 of the 50 respondents have rated store ambience as “Good” and 7 each rated as “Above Average” and “Excellent”. sales personnel. 1 2 3 4 5 Poor Average Above Average Good Excellent Store Ambience 7 36 7 No. This proves that store ambience plays an important role in consumer perception of service quality.

Of Respondents (out of 50) Survey Analysis: Sales Personnel With respect to sales personnel. 1 2 3 4 5 Poor Average Above Average Good Excellent Sales personnel 4 4 7 35 No.Table No12: Consumer perception of sales personnel S.NO. 35 respondents rated them as “Good”. 7 respondents gave rating of “Above Average”. while 4 each rated as “Poor” and “Average”. 13. How do you rate after sales service of titan? Figure 13: Consumer Perception about after sales service [73] .

NO. 1 2 3 4 5 Poor Average Above Average Good Excellent After Sales Service 7 4 4 31 4 No. Of Respondents (out of 50) Survey Analysis: After sales service In the survey.Table No13: Consumer Perception about after sales service S. “Above Average”. What is your perception about display of titan watches? Figure 14: Consumer perception of Display of watches [74] . “Excellent” while 7 respondents rated as “Poor”. 4 each as “Average”. 14. 31 out of 50 respondents rated after sales service as” Good”.

What is your overall perception about Titan showrooms? Figure 15: Overall perception about Titan showrooms [75] . 24 respondents as “Good” and only 4 respondents gave rating of “Average” 15.NO.Table No14: Consumer perception of Display of watches S. 22 respondents rated it as “Excellent”. Of Respondents (out of 50) Survey Analysis: Display of Titan watches Most of the respondents have given high ratings to the display of watches in Titan showroom. 1 2 3 4 5 Poor Average Above Average Good Excellent Display Of Watches 4 24 22 No.

2 Findings of the survey [76] . after sales service and display of watches in the showrooms play a major role in determining the customer perception about brand. Of Respondents (out of 50) Survey Analysis: Overall perception about titan showroom The respondents were also asked to give overall rating to Titan’s exclusive showrooms. 1 2 3 4 5 Poor Average Above Average Good Excellent Titan Showrooms 30 20 No. It was found that out of total 50 respondents. 7. Around 50% of the respondents rated all the variables related to Titan’s exclusive showrooms as “good”. This shows that the store ambience. sales personnel. 30 rated as “good” while the remaining considered the showrooms to be “excellent”.Table No15: Overall perception about Titan showrooms S.NO.

those who have seen the new campaign consider it to be effective in conveying the message it intended to deliver. there is a misconception about pricing of Titan products among the consumers. and magazines are best means to spread awareness about brand.e. newspapers.. However.  The after sales service and behavior of sales personnel have been given low ratings compared to other variables mentioned in the questionnaire with respect to Titan’s exclusive showrooms.  Logos and taglines are rarely noticed by the watch consumers. Hence. This indicates that they are looking forward for more innovative designs to be introduced by the company. This implies that the reach of the campaign in six months has been to more or less half of the consumers. However. i.  Titan watches’ designs are rated as “good” by 78% of the respondents.The findings of the consumer awareness survey are listed below:  72% of the respondents in the age group of 20 – 30 years possess fastrack watch.  Most of the consumers prefer Titan watches for their attractive designs and good quali- ty. This shows that the positioning strategy of these watches has been good.  Advertisement in mass media such as television.  Only 50% of the respondents have seen the new campaign launched by Titan watches in July 2008. to “be more” in lives. Chapter 8 – Data Interpretation [77] . They perceive them to be high priced.  Celebrity endorsement of watches not only increases the visibility of the product but also gives an assurance to the consumers that it is of high quality. any change in them also goes unnoticed.

and the looks. watches in pair. Here a customer pays about 4 times a value of the world watch hence penetrating the market with low prices to international players to gain market share. This concept though exists with foreign competition has just come to India. Strength: 1. It consist of Tata guarantee. Titan capture the market by pricing the Sonata at Rs. Titan prices its world watches which are compared equal to an international competitor like Calvin Klein. Now a day’s style is a very much evident factor among the youth. Models: As Titan offers the best and the biggest range to customer to choose the watch of their choice with an affordable price. In the Indian watch industry there is no one offering pure gold watches. TITAN offers these products with the Indian touch in its designs. the products. And there is a craze for stylish wristwatch. 3. Hence it is able to skim the market with certain products in these ranges. III.In India 70% of the sales in wristwatches come from the lower segment. Titan makes the peoples life more glorious by making stylish wristwatch. Jewellery watches. It offers about 14 different names with about 1000plus different varieties with a watch for literally everyone. So. Other than these there have few more strength like- [78] . SWOT Analysis A. 350 onwards. So. Its EDGE the slimmest watch in the world position. Exclusive products: Today Titan holds the pride for say that its products both with- in the country and internationally running in battle position. Style: Titan first introduced the ‘style’ concept in India and projected the watch as a fashion accessory. 2.

550. where as it is the weakness also because the company not sufficiently globalized. The profit is accounted by being in the retail space which is booming. Opportunities 1. C. like Diwali Titan promotes Nebula. Titan has less market share. Watches are available with popular functions like dates. Titan market share is between 18-20% which is far lower than HMT and Maxima.1100 while the price for HMT is Rs. The market is more demonstrate by middle class people and for them Titan is quite costly. 6. multifunction and chronographic. Globalized: As the company is Indian based which leads it to the strength. Average price for Titan is Rs. Market share: As the average price of Titan wristwatch is far more than the other competitor. Weaknesses 1. In the mid-price segment the company is not performing up to the mark due to the lack of choice of consumers.4. Pricing: the average price of Titan in mid-price segment is very high than the other competitor. 5. Guarantee/warranty B. Contribution of owned brands and retail. Seasonality: At the time of festival. Among 75% market share in mid-segment. 2. Bandhan be- cause there is demand for the products. 3. [79] .

-The fast track brand is promoted in month of June-August when schools and colleges re-open. Companies the marketing objectives is to increase in market share by 5% . 3.which include the BCG Matrix representation. Mobile: Now a days people can get the time and the other feature in mobile phone. As the removal of quantitative restrictions on import watches leads to threat to titan. People can talk and see the time in a cell phone and some people think that there is no need of wristwatch. stylish and technologically advanced watch from Titan. Before implementing the of marketing strategies we must have to focus on certain things .45 crore. [80] .104.3.1. Competitor: As we know that lots of Foreign brands are entering in our country with their branded watches. Titan industries has registered an Income of Rs. the need of wristwatch is in decreasing trend. Threats 1.03. in any condition functional or otherwise and receive a flat discount of 25% on their purchase of a brand new. The fight concept sells well for people have come to associate Titan with lovecare and makes emotion run high.Gold watches and pairs are the like as a wedding occasion. Premium segment: As in premium segment Titan is getting threats from reputed international brand such as Espirit.85 crore as compared to previous year which was Rs 7. Swatch and Citizen. IV..11. 2. 3. D. Marketing Objectives: Titan industries in watch holds 70% in Domestic level and 60% in Share in organized sector market. Gifting concept: Titan started as a brand which was associated with gifting and relation. In all the income the Titan industry had contributed Rs. of any make.25. Exchanging offer: The Titan stores offer exchange offer of any old watch. So. 2.

Chapter 8 – Conclusion • To increase its visibility. Titan Company can sponsor events similar to fashion shows in which all latest designs launched are displayed. This would have multiplier effect as the latest designs launched by the company gets noticed by different segments of the customers in varied ways. [81] . • Tie –up with FM radio channels for reminder advertisements and informing customers about various sales promotion offers from time-to-time.

Invest more in R&D as customer expectations are changing rapidly. Though Titan has got more product collections, it should focus on introducing more varieties in already existing product collections. In other words, having a limited but more depth in product collections would be more advantageous.

Introduce exclusive collection for working women which is more contemporary and complements both traditional and western wear. Majority of the population in India live in rural areas. So, showrooms should be set up at places nearer to them. Introduce cheaper and rough use watches for this segment. After sales service has to be improved. That is, the process of servicing and repairing of watches should be made faster. This can be done by ensuring the spare parts availability and training all sales personnel in Titan showrooms to undertake these tasks.

• •

Tie up with international watch brands and make them available locally. Make use of internet to spread awareness among consumers about the brand.

Chapter 8 – Suggestions and Recommendation

Suggestions given by the respondents to improve brand image. Varied responses were received for this question. All the responses have been summarized as follows:

Introduce more trendy and innovative designs

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Focus on niche markets such as working men and women Spread awareness about availability of watches in lower segments as most of the consumers feel that Titan brand is synonymous with premium watches. Take steps to change consumer perception that Titan watches are high priced. Improve after sales service.

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Appendices

QUESTIONNAIRE
1. Which sub-brand of Titan watches do you possess?

a) Fastrack b) Sonata c) Raga d) Nebula

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e) Others, please specify…………………………….

2. Since how many months / years have you been using Titan watch?

3. Why do you prefer Titan brand?

a) Attractive designs, b) Reasonable price c) Brand image d) Good quality

4. Do you remember the original tagline of Titan watches? If yes, please mention.

5. Have you seen the advertisement of Titan watches? In which media have you seen the

advertisement? a) TV b) Newspaper c) Magazines d) Hoardings e) Radio

6. Who is the brand ambassador of Titan watches? 7. Are you aware of the new tagline of Titan?

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a) Aware b) Not aware
8. How do you rate the new designs of Titan?

a) Poor b) Average c) Above Average d) Good e) Excellent

9. Have you seen the new campaign of Titan?

a) Yes

b) No

10. Do you think the new advertisement is effective in inspiring consumers to have a new

look everyday and be more in lives? a) Not at all effective b) Effective c) Highly effective

11. How do you rate Titan’s exclusive showrooms with respect to the following:

(1–Poor, 2-Average, 3-Above Average, 4-Good, 5-Excellent)

a) Ambience b) Sales personnel

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com [86] .com www.titanwold.Romeo S. Mascarenhas WIBLIOGRAPHY www.com/titan www.com www.tata.com www.thehindu.google. What suggestions would you like to give to improve Titan’s brand image among customers? BIBLIOGRAPHY Marketing Management – Philip Kotler Special Studies in Marketing.c) After sales service d) Display of watches e) Overall showroom - 13.indianfoline.

com [87] .www.economictimes.

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