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PERSONAL LEARNING PAPER- TITAN
Submitted By: Priya Mariam Simon
automobile and aerospace industries where it could leverage its precision engineering skills. leather accessories and sunglasses.TITAN Introduction Titan is the market leader in the Indian watch industry. Tanishq was branded and had been set up as an exportoriented unit to complement the watches division. Titan realized that its watches alone might not be able to price open the global market. It has also established a strong presence in the area of branded gold jewellery. . Titan had revolutionized the watch market with its emphasis on style and international quality. making several changes in the product and product mix. Titan believed that the Indian consumers desire to own a good looking watch had been totally ignored. under the leadership of Xerxes Desai. Despite these setbacks. Titan decided to focus on the domestic market. The company started the manufacture of jewellery and jewellery watches in 1994. Titan also looked at opportunities in instrumentation. owned by Titan. Titan started reworking its strategy. uniqueness and they have a market from steel to gold to diamonds. It had created strong brand equity in India and some overseas market. When people buy a Titan they know it’s a piece of quality and is backed by the Tata’s. Titan Edge is a unique creation in the world. HMT was the market leader. style. Titan with its top management team and the backing of the TATAs has achieved one of the leading marketing companies. The company also began extension forays into silverware. Titan went ahead with its plan to make the quartz watches. When it entered the market. Titan decided to grow the market by encouraging ownership of multiple watches thereby stimulating the purchase of replacement watches and targeting under penetrated segments like women and first time buyers. In 2002. By the early 2000’s Titan’s share of the legal watch market had dropped. Titan looked at new business opportunities. Titan’s innovations in the field of technology. The company made only a handful ordinary looking quartz watches and had neglected styling as a whole. Titan announced plan to regain its market share. Core Competency Titan’s core competency is Quality delivered at each purchase and this is for the lower segment watches like HMT and Maxima. Company History Titan was set up in July 1984. The Company’s diversification into jewellery was a good gamble. with its corporate office in Bangalore.
intensive advertising and promotion. with advertisements saying: The next time your husband wants to buy you a saree ask him for a Titan watch. Titan realized it would have to use other ways to motivate people to buy their watches. They put in place an integrated marketing mix consisting of attractive designs. This campaign was an enormous success. competitive prices. The advertisements featured two or more people. Titan’s approach to distribution marked a different example. Titan believed that different brands have to be created for the different segments. sufficient inventory. Distribution Titan’s watches were sold in thousands of stores including company showrooms and exclusive stores. Music became an essential part of Titan’s advertisements. Titan decided that it would change the way watches were marketed in the country. In the early 2000s. siblings coming for specific occasions. Targeting and Positioning Titan first launched its quartz range with heavy advertising.parents. priced higher than the other watches. Psycho graphic (lifestyle and personality). Titan has segmented the market on the basis of the following variables: Demographic (age and social class). a logistical support system and a well timed promotional campaign. high quality products. Segmentation became an important issue as their operations expanded.Marketing-Watches The quartz watch was an entirely new product for India. The first advertisement described the titan quartz as the international watch that could be bought in Indian rupees. Titan’s marketing strategy had five main bases: a product of international quality. reaching out to the retail channels directly. and specialized retail shops to control the presentation. Indian designs. Later campaigns also positioned the watch as a gift item. spouses. Behavioural (benefits and . These shops acted as Titan dealers. replace batteries or change straps. In addition to this they opened hundreds of service centres to repair watches. Titan decided not to compete directly with mechanical watches from HMT. though they stocked other brands. They opted to find a way around wholesalers. Titan’s shops were easily recognizable and located in the most fashionable shopping centres. Titan has segmented the watch market and identified clearly the needs of each group. Titan then started a scheme of converting some of the outlets to Titan shops. Segmentation. Titan’s ambitious marketing program aimed at positioning its watches as high quality fashionable products available in clean and comfortable surroundings.
The price range between Rs. After carrying out an in depth market study. The price tag did not matter to this segment. This is for the premium segment. The price range between Rs. Xylys. women and children Sonata is the value for money watch brand from Titan industries. The company realized that more women were wearing watches for functions. Sonata. moods and beliefs. Titan adopted a strategy of focus.1 lakh. It is a collection of intricately carved designs for women inspired by floral patterns and these watches are engraved with beautiful patterns in gold and precious stones. is targeting a new generation of achievers who are looking for symbols to reflect their lifestyle. 000 and Rs. men. Titan is considered to have one of the successful segmentation and targeting. • The next segmented consisted of consumers who preferred some fashion in their watches but to them price did matter. The Raga range remained for more special reasons. innovation and pride.500 and 700. The company used focused distribution supplementing its watch outlets with youth focused outlets like music stores and internet café’s for FasTrack. Nebula and Flip are sub-brands within Titan that are aimed at the youth. They were also willing to buy a watch on impulse.20. Targeting segments and User positioning. Xylys comes from the House of Titan. Titan targeted its Raga watches at women in the premium segment which gave them the feeling of intimacy. Titan identified three different specific market segments for its watches. • The third segment consisted of the lower income consumers who saw a watch mainly as a time keeping device and bought mainly on the basis of price. Raga. Geographical (region). It is targeted at consumers seeking durability and value with a clear positioning of “No compromise watch”. Titan tries to achieve competitive advantage by optimizing its strategy in the different market segments. The segments were arrived at using benefit and income level as the bases. Nebula-precious jewellery watches from Titan. .350 and 500.occasions. The price range between Rs. attitude. like marriages or parties. It offered slimmed down and sleeker watches for women. FasTrack. The young Indian racing driver Narain Karthikeyan was the brand ambassador. FasTrack was positioned as a youth brand. Titan Edge and Titan Steel are the mainstream Titan products which enhance the brands image of leadership. • The first consisted of the high income/ elite consumers who were buying a watch as a fashion accessory.
com/2007/07/brand-dilution-is-as-important-as-brand. The best design was launched as the new summer collection and also the received the first watch of that collection. They get the maximum market share from Sonata.htm http://www. This is the most salient feature of Titan. Titan comes out every year with a price discount sale on watches. schools and other happenings. The differences in the prices are justified with its important features and style. rise and be the product leader.com/titan/articles/20051011_timing. Titan provides the best quality watches at affordable price and design.blogspot. Also its advertising strategy is so brilliant that it captures the minds of customers thereby imparting an emotional thirst and motivating them to buy Titan brands. Titan is directly tapping the customers by sponsoring major events.com which invites children to use their creativity and imagination to design a watch.html .icmrindia. Conclusion Titan chooses to see that its product can survive. Since there is no one offering pure gold watches and jewellary watches so it is able to skim the market with their distinct products. Titan has its shop in almost all localities so it’s feasible for the customers to walk in to the Titan shops at any time irrespective to the distance. For example gold watches are preferred for a wedding occasion.Pricing Strategy Titan prices according to the features and value delivered. Titan concentrates on all economic class of customers there by achieving maximum customer base. They are trying to maximize their profits with the help of different product mix. Titan introduced a contest on cartoonnetworkindia. culturals and other fests in colleges.tata.com http://www.htm http://analyticsbhups. Another of promoting the Titan watches is through seasons. Promotion Titan ties up with various magazines. REFERENCES Marketing Management 12e South Asian Perspective. They have achieved a balance between cost focus and differentiation focus.titanworld.org/casestudies/catalogue/Marketing1/MKTA013.Philip Kotler and et al www. They help in providing customers convenience in their shopping. television and outlets where Titan watches were given as gifts for winning a particular contest.
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