Rohith .V 1mz19mba22 Main Document

CHAPTER-1
INTRODUCTION i
Back in the early eighties, TATA GROUPS had identified the watch category has a potential in
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consumer market for the TATA‘S to enter, XERXES DESAI, a Tata veteran and then MD of TATA
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press, was chosen to lead watch venture. Titan is one of India's leading watch brands that has
brought a paradigm shift in the Indian watch market when it introduced its futuristic quarts
technology, complemented by international styling.

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Titan industries has reached out to the youth segment with fastrack, its third brand, trendy and chic.
Titan industries launched Tanishq, India‘s most trusted and fastest growing jewellery brand. Titan
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Company has also made its foray into eyewear, launching fastrack eyewear and sunglasses, as well
as prescription eyewear.
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The organization has leverage its manufacturing competencies and branched into precision
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engineering and machine building.Titan has head quarters at hosur India and it has its presence in 4
continent and 32 countries.

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The watch division boasts of over 300 exclusive showrooms christened ‗World of Titan', placing
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the brand amongst the largest chains in its category backed by over 650 after-sales-service centres.
Titan Industries is also the largest jewellery retailer in India with over 119 tanishq boutiques and
zoya stores, over 28 gold plus stores and over 120 Titan Eye plus stores.
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INDUSTRY iPROFILE
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Growth of Watch Industry in India: i i i i i
The present demand for wrist watches in India is estimated between 12 million and 15 million per
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i year. However, at present domestic production are only 7-2 million watches. The balancing being
met by watches brought into India from abroad.

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A growth projection for industry as whole is estimate to be 6% per annum. This explains the positive
reaction of the existing manufactures in the market to the new entrants.

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The government recent decision to throw open electronic digital watch manufacture to the private
sector with foreign share (up to 4%) is expected to encourage more new watch industries.
Predictions in the industry are that a shift from the present manufacture of automatic & mechanical
watches is inevitable. The current trend in the Indian markets is towards the more sophisticated
models. All over the world mechanical wound watches & to some extent the automatic watches
have given way to quartz & digital watches.

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For the customer more competitors means a greater variety & choice ,latest designs & models
,guaranteed after sales service &quality products from collaborative ventures with the worlds
renowned watch manufactures.

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Corporate Citizenship
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ii We ensure that a part of our resources is invested in environment and community betterment. Titan
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has built on this principle over the last 15 years, almost year after year: In 1989, it was Aqura, the
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trendy range for the youth, colorful, smart and affordable plastic watches for the youth: The other
side of Titan for the other side of you.

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 In 1992, it was Raga, the ethnic range, with striking symbolism from ethnic India, for the
sophisticated India woman who appreciated such things.

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 In 1993, it was Insignia, very distinctive and international-looking top-end watches, for
those seeking exclusivity and status.

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 In 1994, it was psi 2000, rugged, sporty and very masculine watches with serious sports
features (200-m mater resistance, high precision chronographs) for those with the penchant
for adventure.
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 In 1996, it was Dash, the cute and colourful range for kids.
 In 1997, it was Sonata, the affordable, good quality range for the budget-conscious.
 In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart.
 In 1999, it was Nebula, the sold gold and diamond-studded range of luxury watches for
those affluent people to whom gold is a precious acquisition.

 In 2001, it was Steel, the smart and contemporary collection for the young 21st century
executive.
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Brands for Titan i i
The main brands that have reigned on the Indian market for Titan over the years are:
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 EDGE i
Through cutting edge watch-making technology and four years of research and
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development, Titan. has created sensation by coming up with the world's slimmest
wristwatch "Titan Edge" of just 3.5 mm in thickness and a wafer thin movement of 1.15 mm
 NEBULA i
The Trousseau Collection of expensive jewelry watches for women from Titan bear
intricately carved designs in paisley and floral patterns. Watches may also have pearl dials,
or studded with 16 diamonds, or deftly crafted in solid Gold of 10 carats.

 FASTRACK i
This range has become the obsessions of the Indian youth, for their digital technology,
trendy shapes, and casual and sporty designs.

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 RAGA i
The watches in this collection are exclusively for women, whose gold, steel and bicolor
looks with leather bands or metallic bracelets signify feminine grace and substance.
 REGALIA i
The exclusive range of watches in gold and steel are meant for social occasions
 BANDHAN i
The collection in gold that is solely available in pairs, has been a 'must buy' for weddings
 FLIP i
The favorite among professionals, the watches enable their owners to switch from sporty to
corporate look or between professional and personal occasions with a "flip" of the dial.
 SONATA i
The wide collection that includes 400 models of watches is designed for customers, who
look for a mix between durability and affordability. These wrist-gears are water resistant
(for up to 30 meters) and come in metallic and a host of other cases with a guarantee of 1
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i year. i
 XYLYS i
The collection added was another feather in Titan's cap that consisted of a premium
selection of watches that are the result of exquisite craftsmanship. The collection was
created by Titan's design advisor Michael Foley in collaboration with renowned Swiss
designer Laurent Rufenacht.

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 OCTANE i
Launched in early 2008, this chronograph collection for men comes in steel-and-chrome
with a choice of eye-catching dials that complement a true metrosexual.

And in 2008, the brand has collections like the Octane, Diva, WWF and Zoop - each of them unique
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and fascinating.
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The company brought about a paradigm shift in the Indian watch market, offering quartz
technology with international styling, manufactured in a state-of-the-art factory at Hosur, Tamil

Nadu. In 1995, the company diversified into jewellery under the brand Tanishq to capitalise on a
fragmented market operating with no brands in urban cities. In 2005, the company launched its
second jewellery brand, Gold Plus, to capitalise on opportunities in small towns and rural India.
The company has now entered into eye wear, launching Fastrack eye-gear sunglasses and
prescription eye wear.

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Area of Business
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Titan's main products are: i i i
a) Watches
b) Jewellery i
c) Eye wear i i
d) Precision engineering i
COMPANY PROFILE i i
INTRODUCTION
Titan is a joint venture between TATA and Tamil Nadu Industrial Development Corporation
(TIDCO). Titan is in the forefront of the TATA value system of creating wealth for the nation and
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earning the respect of all the stakeholders and the community at large through excellence in every
aspect of the business and individual conducts. Set up in 1985 with an initial planned annual
capacity of two million watches, the company today produces over 6 million watches annually and
has successfully diversified into previous jewellery and premium clocks. The company is
acclaimed to be a visionary in the watch industry and is perhaps one of the few profitable watch
businesses in this part of the globe. The company has passionately pursued the business excellence
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model based on the Malcolm Baldridge Criterion and is assessed to be the second best in the group
behind TISCO.
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Tata:
The house of Tata‘s is the largest private sector group in India. The people who have made the most
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significant contribution to India‘s industrialization and progress in the 20 century through their
involvement in the diverse industry.

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According to the marketing white book 2005, the size of retail is as high as 85%. Within the
organized retail sector, clothing and textile dominate with a 36% share followed by watches and
jewellery, which has a 17% market share.

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Vision
a) Vision:
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To be innovative world class, contemporary and build India‘s most desirable brands.
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b) Customer focus:
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iiiiiiiiii Titan passionate about understanding customer needs and expectation delighting a customer is
therefore a nature outcome.

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c) Creativity and innovation:

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They were ideas company creativity and innovations are lifeblood.

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d) Performance culture and team work:
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iii ii iii ii i They dare to dream big and work together to realize it. High performance is a way of life with
them.
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e) Quality: i
iiiiiiiiii They will attain and maintain excellence in all that they do.
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f) Wealth creation:
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iiiiiiiiii They ensure creation of value in all that they do for stake holders.
g) Respect and care for the individual:

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iiiiiiiiii They value every Titanian and strive to fulfill his/her needs and aspiration.
h) Corporate citizenship:
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iiiiiiiiii They care about the environment and the community; they live in and will invest a part of their
resources in improving them.

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Mission
Titan seeks to achieve these value goals through a focused pursuit of outstanding quality in both the
ends that we target and the means that we adopt. Titan encourages and enables individuals and
groups to realize their fullest potential through rationality and creativity, cerebration and passion,
transparency and informality, pride in the past and excitement about the future.
Name of the Company: i i i
The name TITAN is an acronym derived from the names of the promoters.
Tata Industries & Tamil Nadu Industrial Development Corp.

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TITAN COMPANY LIMITED i i i
History of Titan i i i
Early 1980 TIDCO invites TATA to participate in a joint venture to manufacture wrist
watches.
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Mar. 1982 Memorandum of understanding signed between TATAS and FRANCE i i i i i i i
EBAUCHES to participate in a joint venture for the manufacture of watch

movements.
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Aug. 1982 Government of India accords approval to TIDCO for the project. i i i i i i i i i i
Mar. 1983 TATA float a new investment company - Questar Investment Limited
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specifically for this project.
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Feb. 1984 Agreement signed between TIDCO & QUESTAR INVESTMENT LTD., to
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set up a joint sector wrist watch manufacturing company – TITAN

WATHCES LTD.,
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Jul i 1984 Titan Watches Ltd., was incorporated

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Mar i 1985 Approval received by Titan Watches Ltd., to implement the project
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May 1985 Application to Government of India for phased manufacturing programme.

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Oct. 1985 Mr. Robert Director of Overseas, Projects France Ebauche visits India for
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finalization of product, product mix and technology.

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Mar. i 1986 Commencement of building construction i i i i
May 1986 Approval received for phased manufacturing of programme for a production
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capacity of 2 Million Quartz Analog wrist watches.

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Sep. 1994 The name ―TITAN WATCHES LTD.,‖ changed as

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― TITAN INDUSTRIES LTD.,‖

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1996 Tanishq
1997 Sonata,Exist Timex Sv i i
2004 Fastrack & Precision Engineering

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2005 Goldplus
2006 Xylys
2007 Eyewear
2009 Zaya
2010 Accessories Helios i
2013 SKINN Perfumes fastrack,helmets,e-commerce

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2014 Entry into Jewelley Dubai/Singapore Subsidiarization of presision

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Engineering
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2015 Launch of July Smart watch,Rollout of mount Blane stores

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2016- Acquisition of ―Carat Lane‖ pilot launch of ―Taniera‖ saree with rollout of 2
2017 stores.
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Titan Manufacturing Division and its Products
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A Titan industry has three major manufacturing divisions namely:

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 Watch division i i
 Quartz analog wrist watches i i i
 Jewellery division i
 Precision jewellery watches i i i
 Bracelet and new business division. i i i i
 Metallic bracelet and pieces. i i i
Strategies followed by Titan i i i
iiiiiiiii The following strategic priorities will form the basis for developing the vision of the division:
 Titan will invest in its watch brands to create profitable, desirable and powerful brands.
 Titan will create a delightful shopping and service experience for its consumer and build
enduring and profitable relationship with its associates.

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 Titan will improve manufacturing efficiencies and reduce capital employed in order to
achieve significant cost reduction and improve profitability.

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 Titan will use its core competencies in the areas of design and retailing to extend the brand
strengths to other prestigious, personal accessory category.

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 Titan will ensure that it continuously delivers increasing profits and profitability to its share
holders.
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Corporate Social Responsibility: i i
i A Titan industry has a clearly defined policy in social responsibility and believes that an
organization cannot be an island of excellence in a sea of troubled waters. CSR initiatives include
children‘s education, enabling the disabled, Artisan parks, women‘s empowerment environment
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management programmers and other community initiatives. Titan is a signatory to the Global
compact and has been awarded to the company.

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The manufacturing units of watch and jewellery division at Hosur are certified under ISO
9001:2002 quality management system standards as well as ISO 14001 environment system
standards.
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Goal of the Company:
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 Ensure high degree of satisfaction to all stake holders. i i i i i i i i
 Pals India on the world map of high quality goods and services.
 Constantly and value to the prestigious TATA name. i i i i i i i
Titan‟s Corporate Objectives:

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 A significant and respected global watch brand

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 The market leader in India i i i i i
 Ensure high degree of satisfaction to all stake holders i i i i i i i i i
 Place India on the world map of high quality goods and services
 Constantly add value to the prestigious TATA name. i i i i i i i
Five Core Values:

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The Tata group has always sought to be a value driven organization .these values continue to
direct the group‘s growth & business. The five core Tata values under pinning the way do
businesses are:
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Customer Focus: i iiiiii
 We are passionate about understanding customer needs and expectations.

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 Delighting our customer is therefore a natural outcome. i i i i i i i
Performance culture and term work: i i i i iiiiiiiiiiiiiiiiiiiiiii
 We dare to dream big and work together to realize it.

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 High performance is the way of life with us. i i i i i i i i
Quality:
 We will attain and maintain excellence in all we do.
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Creativity and Innovation:

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 We are an ideas company. i i i i
 Creativity and innovation are our lifeblood. i i i i i
Wealth creation: i iiiiiiiiiiiii
 We ensure creation of value in all that we do for our stakeholders.

Titan Derivation:
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The name Titan is an acronym derived from the words Tata industries and Tamilnadu. Titan
watches limited is a joint venture of Tata industries & Tamilnadu Industrial Development
Corporation Limited & located in state of Tamilnadu.

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Another contributing factor to the choice of the name was its rich meaning the word ‗Titan‘ means.
 One who has extraordinary size, strength, intellect or power.

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 Member of race of giants who were descendants of Uranus & Gaea, early Greek Gods.
Titan industries limited was incorporates in 1984 as joint venture between the Titan and Tamilnadu
i Industrial Development Corporation Limited. A Government of Tamilnadu undertaking. The

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company has its registered office on Hosur an industrial town in Tamilnadu titan corporate offices
located in Bangalore Karnataka state.

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“External Recognition for Titan Brand”:

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 Titan has won the ―retailer of the year ―award for 2005 for watches retailing and also
i retailer award in overall across other categories and brands it images fashion award
i successively for 5 years. i i i
 Titan bagged the ―Award for brand leadership‖ in the consumer durables category
i conducted by brand summit it also won the ―retailer of the year award ―for retail
i excellence in the lifestyle category at the India retail summit. i i i i i i i i i
 Business world ―Best lifestyle product design award‖ was bagged by titan ―Edge‖
i slimmest watch in the universe. i i i i
 Titan world watch campaign won the ―silver medal ―in the year 2004.
Titan Franchise
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 Titan is the market leader, having a variety of ranges The trainees learnt to become more
i approachable by observing the personnel department. i i i i i
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The World of Titan:
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We have revolutionized watch retailing in India, by setting up a chain of high profile stores. The
World of Titan is our face in the market, a store providing an international ambience showcasing
our entire range. This provides the customer with the complete brand experience - making it the
most preferred place to buy the most preferred watch from.

Current Network: i
Over a period of 20 years, the chain has grown to 235 showrooms at prime locations across 113
towns in India. These showrooms have grown along with the company, both in business and profits,
which is testimony to the success of the chain.

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 The World of Titan is the face of 'Titan' in the marketplace. Hence, each showroom has a
turnover of about Rs. 20 to 30 million a year in large cities and about Rs. half a million a
i year in smaller towns. All existing showrooms exhibit a consistently high growth of
about 15% to 25% every year.

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 The World of Titan stores show a healthy return on investment of more than 24%.
Although the net earning potential of a showroom varies from market to market, in all
cases it exceeds market rental value of the property.

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 Most showrooms break even in the first year and start making profits from the second
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 We have a dedicated retail team with professional expertise in setting up and operating
showrooms across the country. This team is dedicated to the World of Titan and works
on improving their business potential.

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Distribution in India: i i
A ikey ibusiness ipartner iof iTitan iin ithe imarketplace, iis ithe iredistribution istockiest. iThe
idistribution ichannel ihandles iwell iover i50% iof ithe iwatch ibusiness iof ithe icompany. iThe
imain ifocus iof ithis ichannel iis imarket ipenetration iand icoverage. iCurrently iwe ihave i65
idistributors ihandling iwell iover i6000 idealers iacross ithe icountry. i
Watch Industry: i i
Started as a watch company, Titan Industries' main focus has been to increase the breadth and depth
of its portfolio of product offerings. International labels such as Tommy Hilfiger and Hugo Boss are
now a part of its basket, along with Fast track — a brand targeting youth — and the mid-range brand
Sonata. The company manufactures more than nine million watches every year, has a customer
base of over 80 million, and accounts for 60 per cent of India's organized watch market.
Competitive Strengths:
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o Strong brands i
o Strong retailing, distribution and supply network. i i i i i
o Design experience. i
o Integrated manufacturing i
o Leading market position i i i
o Focus on quality i i
o Experienced management and technical team. i i i i
World of titan showrooms: i i i
World of Titan showrooms are both company managed and finished. Currently they have over
1,480 Exclusive Stores in 276 cities/towns Spanning over 1.9 Million Sq ft of Retail Space. The
company managed showrooms serve as flagship retailing stores designed to provide the best that
the world of titan has to offer to customers. They also influence the operations of other franchisees
and bring about uniformity across the retail chain.

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A) Watches:
Titan currently has four main watch brands. The premium brands are Titan and Xylys — a
Swiss made watch designed to attract the highend market segment. The company has launched two
sub-brands under the Titan umbrella; Titan Edge incorporates the world's slimmest watch
movement and Titan Raga is a brand aimed at women. Apart from these, the other offerings are
Heritage, Wall Street, Regalia, Aviator and the premium brand Nebula, which is crafted with gold
and precious stones. Sonata is India's largest selling watch brand. Fastrack focuses on youth and
trendy fashions. The company also markets Tommy Hilfiger and Hugo Boss under licensing
arrangements.
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The company has more than 200 exclusive showrooms, christened 'World of Titan', across 112
cities, making it one of the largest chains in its category. Its watches are sold through over 12,000
outlets in over 2,500 cities and are available in over 30 countries, primarily in the Middle East and
the Asia Pacific regions. Titan's after sales service is a benchmarked operation, with a network of
750 service centres and amongst the world's fastest turnaround times. The company has a world-
class design studio for watches and accessories.

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B) Jewellery:
Tanishq is India's largest jewellery brand, offering a range of gold and platinum jewellery,
embellished with precious stones. It is available in more than a hundred specialty boutiques in 71
cities across the country. The new brand `Gold Plus' is a retail offering for the mass market, selling
plain gold jewellery in more than 20 cities. The jewellery division has an exclusive design studio.
C) Eyewear:
Eye + is Titan's new division, selling Fastrack sunglasses and a range of prescription eyewear -
frames, lenses, sunglasses, accessories and contact lenses.

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D) Precision Engineering Division: i i
i This unit supplies precision components to the avionics and the automotive industry. It also
manufactures dashboard clocks as original equipment manufacturer (OEM) to car manufacturers in

Europe and America. The division also provides fully integrated automation solutions.
Location:
i i i i i i i i i i Headquartered in Bangalore, the company has manufacturing and assembly operations at i i i i i i i i i i
Hosur, Dehradun, Roorkee and Baddi (Himachal Pradesh) and an ECB plant in Goa.
Process Adopted At Titan Watches: i i i i
Titan produces stainless steel, brass watch cases by cold forging and machining operations. Watch
movements produced by titan are from highest class of precision technology adopted by world
renowned watch manufacturing in most of the areas automatic and semi-automatic machinery‘s are
used for mass production.

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i It is worth mentioning that the tool room is equipped with state of the art machinery‘s which can
produce micron accurate precession tooling for watch movement and case manufacturing.
PRODUCTION DEPARTMENT i
Production Department and Functions:

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a) Auto-Turning: iiiiiiiiiiiiii
iiiiiiiiiiii The manufacture of all cylindrical watch components.

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b) Assembly:
Planning and supervising process of assembly watch case parts.
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c) Case polishing: i
iiiiiiiiiiiiii Buffing and polishing watch cases to improve surface finish.

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d) Case plating: i
iiiiiiiiiiiiiiii Providing a various surface coating to case parts and straps.

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e) Costing:
Comparing actual and standard value and so find out the variance in order to reduce the cost.
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f) Designs:
Design innovation and the preparation of standards technical design incorporating
manufacturing details of finished products.

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g) Excise:
Full of documentation for both excise duty and service tax of finished goods and
manufacturing.
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h) Gears and assembly: i i
iiiiiiiiiiiiii The production of all gears required for watch manufacturing.

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i) Inspection and quality control: i i i
iiiiiiiiiiiiiiii Complete quality control through all stages of manufacturing and assembly.
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j) Press shop: i i
The production of steel metal components required for the manufacture of watch module.
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Quality Management: i i
 Titan have an in-house standards room, a well equipped reliability test lab, metallurgical test
lab apart from the measuring and test equipment required at each production shop
 The manufacturing facilities are certified for ISO 9000 quality systems.
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iiiiiiiiiiiiiiiii Titan is also certified for ISO 14000 Environmental Management Systems.
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MARKETING MANAGEMENT i
i INTRODUCTION
Titan‘s watch segment is the India‘s chief producer of watches and ranks fifth in the world in
production of watches.
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Company really understands the psyche of consumer and they offered quality products in classical
design with superior technology.

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Today the company has model for every prices segment and every market. Basically it deals with
three target market

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 High income group i i
 Middle income group, and i i i
 Lower income group i i
Titan alone holds 60% market share in domestic level whereas 60% in organized market.
As our Marketing Objectives is to increases Market Share of the company by 5% in the coming year
as well as to increase the profitability of the company by 10%.

The competitor are also playing an important role to grab the market share .We as the Marketer try
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to increase the market share by grabbing the opportunity from other company. To achieve this
company have to follow the marketing strategies, which basically include the marketing mix.
The marketing strategies basically include the 4 ps .

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There the marketer have to focus at first on PRICE ,which basically for The titan is not affordable
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in the Mid –Segment.

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We also have to implement this type of innovation to bring the flexibleness in our product.
As it is also important to do some creativity in advertisement by showing the importance of Time

to the mass. The company brand promoter is Amir Khan but the company can make it attractive by
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endorsing Katrina Kiaf .

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The place can be taken into consideration ,as it is need foe the company to open some show rooms
in the rural area and as the company don/t have so much market share in the foreign market ,so to
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expand the business company should launch its showroom all over the globe in the more number.
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Market share of the competitor in domestic market

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HMT 17%
Maxima 13%
Rado 7%
Casio 3%
The strongest selling point of Titan is that it is available and affordable. Titan provides watches for
all segments, like from low-cost Sonata for first time user, Fast-track for the trendy young, Dash for
the kids, and the higher priced Regalia and Nebula to the premium segment customer.
The Indian watch market is estimated at 25 million watches a year, where the domestic sales is 6
million watches per annum. The rural segment is the diverse market in the present scenario. The key
success story of Titan is capturing the rural market on a large scale. The range costs is between Rs.
495 to Rs. 1200. And the model is available exclusively in all showrooms and is sold mainly in
small-town in India.
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Though the company faced enormous challenges from its big list of competitor, the company still in
the number one position in domestic market because of the weakness of the competitor.
The company becomes more reliable and more acceptances to the consumer because of its
marketing mix. The company has adopted the new marketing innovation to improve the feature of
the product by time to time.

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Though the current financial environment is not in favor, but the company performing well and saw
an increasing trend in the profit chart.

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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, model, features, pricing policy, product
quality, etc.
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Companies certain initiatives and policy such as new innovative design, guarantee, the research and
development, wide dealer network, committed service team, discount and offers make the
company.
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When we talk about the ―wristwatch brand‖, remember the only Indian wristwatch market were so
shabby, one more ordinary than other and when the craze for ―imported watch‖ was not
implemented. That was before the time of titan, a name which brought the revolution in the Indian
wristwatch market.
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Titan wristwatch brand is the part of titan industry, which was launched in 1987 by TATA group.
TATA group had indentified the watch category as a potential consumer market for the TATA‘s to
enter.
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ENVIRONMENTAL ANALYSIS I
The marketing environment.

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Competitive Forces i
1.Competitor
There are lots of competitor in wrist watch segment which directly or in directly affecting the titan
watches industry. The major players‘ are-

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Domestic Level: i
 HMT
 Maxima-quartz
 Rado
 Casio
International level: i
 Espirt
 Swatch
 Citizen
 Tag heuer i
 Seiko
 Cartier
 Giordano
Fashion Houses: i
 Dkny
 Gucci
 Adidas
 Nike
 Bvlgar
Purchasing power of consumers i i i
BRAND CATEGORY
FAST TRACK i YOUTH

EXCTA,SONATA, TITAN i LOWER MIDDLE CLASS(Office wear)
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SPECTRA COMMON CLASS i
ROYAL UPPER- MIDDLE CLASS i i
RAGA UPPER CLASS i
BANDHAN COUPLES
REGALIA UPPER MIDDLE CLASS-UPPER CLASS
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BUSINESS CLASS i
EDGE
The company‘s watch sales grew by 18.8 per cent and its income increasing from Rs255.34 crore
during the second quarter of last year to Rs303.45 crore during the second quarter of this year.
On the basis of the above table and profit figure we easily understand consumer buying power in
target market.
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Marketing Mix: i
 PRODUCT
 PRICE
 PLACE
 PROMOTION
1.Product: Quality and leadership are the two main terms for the Titan. As to achieve the marketing
objectives this aspects should also be considered.

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A. Product line: To increase the sales, the difference in the prices of the watches are justified by the
features.
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B. Product pyramid: Portfolio of Titan‘s product is of 3 distinct price-range that can be defined in
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general, as Popular, Mid, and Premium. At the popular segment, the emphasis is on in volumes but
not in margins. At the premium segment, the emphasis is on profits and image but not in volumes.
Obviously, company giving more emphasis at the top of the pyramid as profits at the top of the
pyramid is very high. This pyramid guided the strategy of Titan.

C. Product strategy: Titan was first focused only on the premium segment of the watch market. As
per the product strategy they took, Titan moved in to the mass market for watches. To widen base,
Titan created new segments and increasingly focusing on segments individually. In the past few
i years Titan has took a lot of initiatives to focused on specific segments.

D. Product Quality: Quality and leadership are synonymous to Titan. It seek to achieve both
through their value for products compared to their prices.

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2.Price: As achieve our marketing our marketing objectives, we can do some change in the pricing .
The main consideration will be in changing price are followings.

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A. Survival:
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In case of some of the watches titan prices them according to the features .The Exacta is a simple
steel watch priced at Rs.600-1,100. As the company also deals with Spectra, Raga through pricing
policy.
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B. Market share:
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As we know that 70% of sales in watches come from the lower segment, therefore by pricing Sonata
at 350 onwards with guarantee.

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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, therefore market with low prices to
international players to gain market share.

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C. Market Skimming: In Indian watch industry there is no one offering pure gold watches,
watches in pair, jewellery watches. Here Titan offers there product with the Indian touch in its
design, the product, the love.

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3.Place: Keeping in mind about the young trendy and fashionable consumers, Titan distribute its
product and set up ‗world of titan‘ in different region. The consumers life style in India, especially
in urban area(because the turnover in urban area is 210 million, while the turnover in rural area is 90
million) plays a significant role in the success of Titan.

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A. Time Zone: Titan Industries brings together the country‘s leading watch brands under one roof,
providing the customer with variety in brands, looks and price ranges and also efficient after-sales
service. These 1142 Time Zones located across 89 towns which offer its customer the complete
watch shopping experience.

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B. Value Mart: These outlets sell surplus stocks of Titan watches at reduced prices. By doing these
it offering fabulous value for money with the same warranty as a regular full-priced watch enjoy.
However these shops would not be placed in the main locations and not working as a normal shops.
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.

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C. Sonata Stores: Sonata stores is also an Authorized Service Centre for Sonata & Titan brands.
Sonata store meet the large scale demand for the watch and also to attract customers in more. These
shops had full stocks of the watch in demand whereas the others could afford to maintain only
limited stock.
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Marketing Implementations: i
Marketing plan basically implemented on the basis of market segmentation .

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We have gone through the target market segment which basically include
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 High income class i i
 Middle income class i i
 Lower income class i i
The marketing mix is the part of marketing strategies ,which help to the company to match the
needs of the consumer as well as the need of company, because we know that “MARKETING IS
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i THE SOCITAL PROCESS WHICH HELP IN FULLFILLMENT

i i i i i i i i OF THE NEED i i
i ,DEMAND OF THE CONSUMER AT A PROFIT”. ii i i iii i i

Implementation is an integral part of strategy. It make sense when it is implemented into Indian i i i i i i i i i i i i i i i
jewellery market it saw an opportunity for an organized sector. The customer was moving towards
branded goods in other segments. Titan did the process of creating brands in the minds of customer.
4. Promotion:
i
ii Promotional pricing: i
A. Marketing pricing: As by opening new shops such as the world of Titan – buy directly i i i i i i i i i i i i i i i
from the dealer and hence the element of middleman is not there.
Promotion:
Marketing pricing: i i
in this category buys watches for 17-18% lesser than MRP and hence they are able to get the 17%
profit margin on sales.

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It is managing to successfully convince to the customer of the perceived value of ‗WORLD

WATCH‘ using hoarding all around the city, increasing buyer image, trust worthiness, innovation,
differentiation, value for the product.

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Price discount and allowances: Every year Titan comes with a price discount sale on the MRP of
the watches. The allowances varies from one segment to another.

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Creative advertising: Titan introduces a contest on cartoon network in india.com which invites
children to use creativity and design watch.

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The prize winning design was launched as a new watch in summer 2002 collection .
Type of advertising: Titan believes in making its ads clean, well made, touch on emotional chord.
As the company is using celebrities or superstars that is Amir Khan for the Titan watches.
As here we can say that a female actress would be more effective for the promotional purpose. It can
be Katrina Kaif, as now she is one of the popular actress in Bollywood.

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Promotion on occasion: Titan is one of the company which formally believes in the policy of
promotion the product based on the occasions.

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Branding and advertising: i i
Advertising, sales promotions and visual merchandising are essential for marketing consumer i i i i i i i i i i
durable products like watches. The company handles advertising at the national and regional levels.
This includes national advertising in press and TV and producing and distributing point of sale
material like posters. They use celebrity endorsements to increase the visibility of their brands.
Each of celebrity endorsers are carefully picked, keeping in mind their status in the market and its
reflection on brands.
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For fastrack sunglasses they have signed up with Bollywood celebrity John Abraham for promoting
sunglasses amongst the young audience. For titan watches they have signed with Amir Khan to
promote multiple ownership of watches.

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Quality Assurance: i
The time products division received ISO14001-1996 accreditation in March 2002.

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Titan derives is main strength from its Sales and Marketing team. The detailed list of the sales and
other distribution network is given below.

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Titan has categorized the demand of watches to attract various sections of the society.
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marketing teams were able to break the myth of the society that Watch is just a piece of valuable to a
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fashion accessory. Watch for an occasion was their motto. Initially the presence was felt only the
urban society. Later they penetrated the rural section by introducing a range for the likes of the rural
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section. Currently Titan has watches for every occasion and for a variety of price range starting
from Rs. 250 to Rs. 1,80,000/-.

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SWOT ANALYSIS i
A. Strength:
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1. Style: Titan first introduced the ‗style‘ concept in India and projected the watch as a fashion
accessory. Now a day‘s style is a very much evident factor among the youth. And there is a
craze for stylish wristwatch. So, Titan makes the peoples life more glorious by making
stylish wristwatch.
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2. Models: As Titan offers the best and the biggest range to customer to choose the watch of i i i i i i i i i i i i i i i i i
their choice with an affordable price.

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It offers about 14 different names with about 1000plus different varieties with a watch for
literally everyone.
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3. Exclusive products: Today Titan holds the pride for say that its products both within the
country and internationally running in battle position. Its EDGE the slimmest watch in the
world position.
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4. Contribution of owned brands and retail. The profit is accounted by being in the retail space
which is booming.
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5. Watches are available with popular functions like dates, multifunction and chronographic.
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6. Guarantee/warranty
B .Weaknesses
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1. Pricing: the average price of Titan in mid-price segment is very high than the other
competitor. Average price for Titan is Rs.1100 while the price for HMT is Rs.550. In the
mid-price segment the company is not performing up to the mark due to the lack of choice
of consumers.
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2. Market share: As the average price of Titan wristwatch is far more than the other
competitor, Titan has less market share. The market is more demonstrate by middle class
people and for them Titan is quite costly. Among 75% market share in mid-segment. Titan
market share is between 18-20% which is far lower than HMT and Maxima.
3. Globalized: As the company is Indian based which leads it to the strength, where as it is the
weakness also because the company not sufficiently globalized.

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C.Opportunities
1. Seasonality: At the time of festival, like Diwali Titan promotes Nebula, Bandhan because
there is demand for the products.

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 i Gold watches and pairs are the like as a wedding occasion.

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 The fast track brand is promoted in month of June-August when schools and
i colleges re-open. i
iiiiiii 2. Gifting concept: Titan started as a brand which was associated with gifting and relation. The
fight concept sells well for people have come to associate Titan with lovecare and makes
emotion run high.

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ii
3. Exchanging offer: The Titan stores offer exchange offer of any old watch, of any make, in any
i condition functional or otherwise and receive a flat discount of 25% on their purchase of a
i brand new, stylish and technologically advanced watch from Titan.

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D. Threats i
i i i i i i i i i 1. Competator: As we know that lots of Foreign brands are entering in our country with their
branded watches. As the removal of quantitative restrictions on import watches leads to threat to
titan.
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2. Premium segment: As in premium segment Titan is getting threats from reputed

i international brand such as Espirit, Swatch and Citizen.

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i i i i i i i 3. Mobile: Now a days people can get the time and the other feature in mobile phone. So, the
need of wristwatch is in decreasing trend. People can talk and see the time in a cell phone and some
people think that there is no need of wristwatch.

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CHAPTER 2 i
CONCEPTAL BACKGROUND AND LITERATURE REVIEW

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"A ibusiness ihas itwo-and ionly itwo-basic ifunctions: imarketing iand iinnovation."
„Peter iDrunker‟
Marketing istrategy iis ia iprocess ithat ican iallow ian iorganization ito iconcentrate iits ilimited
iresources ion ithe igreatest iopportunities ito iincrease isales iand iachieve ia isustainable
icompetitive iadvantage.
Developing ia imarketing istrategy
Marketing istrategies iserve ias ithe ifundamental iunderpinning iof imarketing iplans idesigned
ito ifill imarket ineeds iand ireach imarketing iobjectives. iPlans iand iobjectives iare igenerally
itested ifor imeasurable iresults. iCommonly, imarketing istrategies iare ideveloped ias imulti-
year iplans, iwith ia itactical iplan idetailing ispecific iactions ito ibe iaccomplished iin ithe
icurrent iyear. iTime ihorizons icovered iby ithe imarketing iplan ivary iby icompany, iby
iindustry, iand iby ination, ihowever, itime ihorizons iare ibecoming ishorter ias ithe ispeed iof
ichange iin ithe ienvironment iincreases. iMarketing istrategies iare idynamic iand iinteractive.
iThey iare ipartially iplanned iand ipartially iunplanned. iSee istrategy idynamics.
Marketing istrategy iinvolves icareful iscanning iof ithe iinternal iand iexternal ienvironments
iwhich iare isummarized iin ia iSWOT ianalysis. iInternal ienvironmental ifactors iinclude ithe
imarketing imix, iplus iperformance ianalysis iand istrategic iconstraints. iExternal
ienvironmental ifactors iinclude icustomer ianalysis, icompetitor ianalysis, itarget imarket
ianalysis, ias iwell ias ievaluation iof iany ielements iof ithe itechnological, ieconomic, icultural
ior ipolitical/legal ienvironment ilikely ito iimpact isuccess. iA ikey icomponent iof imarketing
istrategy iis ioften ito ikeep imarketing iin iline iwith ia icompany's ioverarching imission
istatement.
Types iof istrategies
Marketing istrategies imay idiffer idepending ion ithe iunique isituation iof ithe iindividual
ibusiness. iHowever ithere iare ia inumber iof iways iof icategorizing isome igeneric istrategies.
iA ibrief idescription iof ithe imost icommon icategorizing ischemes iis ipresented ibelow:
Strategies ibased ion imarket idominance i- iIn ithis ischeme, ifirms iare iclassified ibased ion
itheir imarket ishare ior idominance iof ian iindustry. i
Typically there are four types of market dominance strategies:

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 Leader
 Challenger
 Follower
 Nicher
Porter generic strategies

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strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the
market penetration while strategic strength refers to the firm‘s sustainable competitive advantage.
The generic strategy framework (porter 1984) comprises two alternatives each with two alternative
scopes. These are Differentiation and low-cost leadership each with a dimension of Focus-broad or
narrow.
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Product differentiation (broad)

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Cost leadership (broad)

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Market segmentation (narrow)

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Innovation strategies - This deals with the firm's rate of the new product development and business
model innovation. It asks whether the company is on the cutting edge of technology and business
innovation. There are three types:

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 Pioneers
 Close followers i
 Late followers i
Growth strategies - In this scheme we ask the question, ―How should the firm grow?‖. There are a
number of different ways of answering that question, but the most common gives four answers:
 Horizontal integration i
 Vertical integration i
 Diversification
 Intensification
Marketing warfare strategies - This scheme draws parallels between marketing strategies and
military strategies.
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 Build a shared vision for the firm‘s future.

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 Articulate your vision so that it can be communicated to others.

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 Get approval and support for the vision from senior leadership and,ultimately, your entire
staff.
i
 Create a framework for all future decision making.

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 Figure out (and agree on) how much you‘re going to spend on marketing and other
initiatives to make it happen.

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The discussion of strategic planning and marketing planning are divided into the following five
areas.
i
Strategic Planning i
Strategic planning is the process of developing a vision of who you are as a firm and what your
longterm goals are. It‘s about more than just marketing; it can influence everything: human
resources, finance, information technology, operations, hiring, promotions strategy, design

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process, client relationships, the design of your office, and absolutely anything else that affects your
firm and its performance.

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MARKETS FOR INDUSTRIAL GOODS i i i
The market is the place where supply meets demand. Suppliers and customers meet, discuss and
evaluate the conditions for exchange of goods and services, and exchanges take place. The
conditions under which these exchanges occur, especially that of price, are influenced by the
characteristics and structure of the market, for example, the number and market power of suppliers
and customers.
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The traditional economic theory of the market has of course been subject to challenge and
modification. However, it has influenced the models and principles used in marketing management.
The basic model that most of the literature in marketing is built on is the marketing mix model. The
key problems in marketing, according to that model, are:

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(a) to allocate resources to different competitive means or mix elements,

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(b) to design each mean as well as possible within the firm's resource limitations.
MARKETING ORGANIZATION i
Belter's sales operations are split into three areas as follows;

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1.Sales Manger — UK responsible for 60—70 per cent of total sales. Four area offices handling all
accounts, except two major ones which are managed from the Company's main office.
2. Sales Manager — Middle East, Africa, Eastern Europe, accounting for approximately 20 per
cent of total sales. One manager plus two sales engineers. The Company is currently building up an
agency—distributor network for this territory.

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3.Sales Manager — Western Europe, responsible for the remaining 20 per cent of total sales. The
sales manager is located in Brussels, with additional sales offices in Germany, France, and Italy.
The Brussels sales office is owned by Belter's parent group. All major commercial transactions are
carried out by Belter's Head Office, although the Brussels. Company does have some price
discretion. This European sales company takes 85 per cent of its products for sale in Europe from
Belter. The remaining 15 per cent of products are sourced from the North-American parent
company. Apart from the European operation, all agents and distributors overseas are handled from
the UK.
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BUYER- SELLER RELATIONSHIPS i i
A Customer Relationship in the United Kingdom

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The three aspects of the relationship which are studied are competition, technical development, and
personal contacts.
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This customer is Belter's largest and is responsible for 20 per cent of its total business. The
Company operates in the aerospace industry at the limit of current technology. The relationship
involves considerable development liaison on wholly new products.

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PURPOSE OF A MARKETING PLAN i i i i i
The purpose of a Marketing Plan is to:-

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Define the Market i i i
Refine the Production Plan to market requirements

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Develop a marketing strategy i i i i
Minimize risk i i
Marketing Plan covering each commodity based on their own study of the local market.
Defining the Market and Commodities- i i i i i

Market demand and prices -An assessment based on published market information , discussions
with local extension staff, farmers, dealers and buyers of the commodity of the likely demand and
prices on offer during the year and during any period of seasonal shortfall
Market Requirement- Varieties, size, grading, packaging, maturity demanded by the buyers in the
particular market.
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Yield /Price Assumptions- How much commodity will be available? How much premium grade?
Second grade? Losses? If the commodity /crop is aimed to be produced for a particular period e.g.
for a low supply period, while the price assumptions (expectation) may be higher some
reassessment of yield and cost of production assumptions in the gross margin analysis or partial
budgets is usually necessary.

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Marketing Returns and Costs Calculate expected income and costs in marketing i i i i i i i i i i i
Elements of Marketing i i i
There are four important elements in the marketing process:

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Prioritising the customer: Marketing begins with the customer, not the product. Knowing what
the customer needs or wants is essential.

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Process of selection: The farmer needs to know who to sell the product to. This will determine how
and where the produce is marketed.

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Promotion:The farmer is selling something that other people want to buy. Naturally, it is helpful to i i i i i i i i i i i i i i i
let them know that the product is available and of good quality.
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Supply, Demand, and Price i i i i
In a free market, prices for inputs and products are determined by supply and demand.
Supply ii
i Is what producers are willing to market at a certain price.

Demand
i Is how much consumers are prepared to buy at the market price.

In theory, as the price of a product goes up, the quantity supplied rises and the quantity demanded
falls. Likewise, when the price goes down, the quantity supplied falls and the quantity demanded
rises.
i i
Industrial or business to business (B2B) marketing i i i i ii i
An organization seeks to build a new warehouse. After documenting requirements, it obtains three
proposals from suitable construction firms. After a long process of evaluation and negotiation, it
places an order with the organization that it believes offers the best value for money.
An organization needs legal services and obtains submissions from two law firms. Analysis of the
proposals and subsequent discussions determines that there is no price advantage to placing all of
the work with one firm, and the organization decides to split the work between the two firms based
on an evaluation of each firm's capabilities.

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Main features of the B2B selling process are:

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Marketing is one-to-one in nature. It is relatively easy for the seller to identify a prospective
customers and build a face-to-face relationship. Highly professional and trained people in buying
processes are involved. In many cases, two or three decision makers must approve a purchase plan.
Often the buying or selling process is complex, and includes many stages (for example, request for
proposal, request for tender, selection process, awarding of tender, contract negotiations, and
signing of final contract). Selling activities involve long processes of prospecting, qualifying,
wooing, making representations, preparing tenders, developing strategies, and contract

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negotiations.
i
Blurring between B2B and B2C i i i i
Industrial marketing can cross the border into consumer marketing. For example, an electronic
component seller may distribute its products through industrial marketing channels (see channel
(marketing)), but also support consumer sales. Many products are equally desired by business and
consumers such as audio products, furniture, paint, hardware, etc. Nonetheless, manufactures and
service providers frequently maintain separate industrial and consumer marketing operations to
reflect the different needs of the two channels.

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Competitive tendering i
Industrial marketing often involves competitive tendering (see tender, tendering). This is a process
where a purchasing organization undertakes to procure goods and services from suitable suppliers.
Due to the high value of some purchases (for example buying a new computer system,
manufacturing machinery, or outsourcing a maintenance contract) and the complexity of such

purchases, the purchasing organization will seek to obtain a number of bids from competing
suppliers and choose the best offering. An entire profession (strategic procurement) that includes
tertiary training and qualifications has been built around the process of making important
purchases. The key requirement in any competitive tender is to ensure that...

The business case for the purchase has been completed and approved.
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The purchasing organization's objectives for the purchase are clearly defined.
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The procurement process is agreed upon and it conforms with fiscal guidelines and organisational
policies. The selection criteria have been established.

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A budget has been estimated and the financial resources are available.
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A buying team (or committee) has been assembled.

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A specification has been written.

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A preliminary scan of the market place has determined that enough potential suppliers are available
to make the process viable (this can sometimes be achieved using an expression of interest process).
It has been clearly established that a competitive tendering process is the best method for meeting
the objectives of this purchasing project. If (for example) it was known that there was only one
organisation capable of supplying; best to get on with talking to them and negotiating a contract.
Because of the significant value of many purchases, issues of probity arise. Organisations seek to
ensure that awarding a contract is based on "best fit" to the agreed criteria, and not bribery,
corruption, or incompetence.
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Bidding process i
Suppliers who are seeking to win a competitive tender go through a bidding process. At its most
primitive, this would consist of evaluating the specification (issued by the purchasing
organization), designing a suitable proposal, and working out a price. This is a "primitive" approach
because...
i
There is an old saying in industrial marketing; "if the first time you have heard about a tender is
when you are invited to submit, then you have already lost it."
While flippant, the previous point illustrates a basic requirement for being successful in competitive
tendering; it is important to develop a strong relationship with a prospective customer organization

well before they have started the formal part of their procurement process.
Developing a sales strategy/solution selling/technical selling i i i i i
The "art" of technical selling (solution selling) follows a three stage process...
Stage 1: Sell the appointment: Never sell over the telephone. The aim of the first contact with a
prospective purchaser is to sell the appointment. The reason is simple; industrial sales are complex,
any attempt to sell over the phone will trivialise your product or service and run the risk of not fully
understanding the customer's need.

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Stage 2: Understand their needs: The best method of selling is to minimise the information about
i your goods or services until you have fully understood your customer's requirements.
Stage 3: Develop and propose a solution. The solution is (of course) developed from your (or the
firm that you represent's) product or service offerings.

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The key features of a successful industrial sales organization.
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In industrial marketing the personal selling is still very effective because many products must be
customized to suit the requirements of the individual customer. Indicators such as the sales tunnel
give information on the expected sales in the near future, the hit rate indicates whether the sales
organization is busy with promising sales leads or it is spending too much effort on projects that are
eventually lost to the competition or that are abandoned by the prospect.

REVIEW OF LITERATURE i i
1.The marketing literature broadly indicates that a firm‘s marketing efforts impact its marketplace
and economic performance through the formulation and implementation of specific patterns of
resource deployments designed to achieve marketing objectives in a target market (Katsikeas et al.
2016; Morgan 2012)

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2.This formulation-implementation dichotomy perspective suggests that goal-setting and

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marketing strategy development systems are used as future-oriented decision-making frameworks

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to define desired goals and identify and select marketing strategy options that may enable these
goals to be accomplished, followed by a period of enactment in which firms seek to operationalize

the intended marketing strategy decisions to achieve the desired goals (Morgan et al. 2012; Noble &
Mokwa 1999; Piercy 1998)

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3.From this perspective, marketing strategy formulation involves managers making explicit ―what‖
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decisions regarding goals and the broad means by which they are to be accomplished in terms of
target market selection, required value offerings and desired positioning, timing, etc.
( Kerin et al. 1990; Slater & Olson 2001)

i i i i i i i i
4.Marketing strategy implementation concerns ―doing it‖ in terms of translating these broad ―what‖
marketing strategy decisions into a set of detailed and integrated marketing tactics and
accompanying these with appropriate actions and resource deployments to enact them ( Slater et al.
2010; Varadarajan & Jayachandran 1999)

i i i i i
5.The distinguished between strategy formulation and implementation, both the marketing and
i i i i i i i i i i
strategic management literature also suggests that they are interdependent, with implementation
(what a firm is able to do) shaping and constraining marketing strategy content decisions over time
Cespedes 1991; Moorman & Miner 1998)

i i i i i i
6.(Farajoun 2002; Mintzberg & Lampel 1999; Van de Ven 1992), and to a lesser extent in the
marketing.
i i
7.(Frankwick et al. 1994; Menon et al. 1999; Walker & Ruekert 1987), is 7 between strategy content
and strategy process. From this perspective, marketing strategy content concerns the specific
strategic decisions (e.g., what and how many segments to target, what the firm‘s value proposition
needs to be to achieve required sales) and integrated tactical marketing program decisions (e.g., the
required sales-force incentive plan, channel selection and merchandizing platform design,
i i i i i i i i i i
marketing communication media selection, etc.) made. Conversely, strategy process concerns the
organizational mechanisms leading to these marketing strategy decisions (e.g., situation

i i i i i i i i i i
assessment, goal-setting, top-down vs. bottom up strategic planning process, planning

i i i i i i i i i i
comprehensiveness, etc.) and those used to make and realize decisions regarding how they are
enacted (e.g., marketing mix planning, budgeting, internal communication, organization re-design,
i i i i i i i i i i
performance monitoring and control systems, etc.).

i i i i i i i
8.Varadarajan (2010) allows us to refine his original definition of marketing strategy. We therefore
define marketing strategy as encompassing the strategy decisions and actions (what) and strategy-
making and realization processes (how) concerning a firm‘s desired goals 2 over a future time-
period, and the means through which it intends to achieve them including selecting target markets
and customers; identifying required value propositions; and designing and enacting integrated
marketing programs to develop, deliver, and communicate the value offerings.

9. To ensure the representativeness and high quality of studies included in our review, we examined
the ten most influential marketing journals in Baumgartner & Pieters‘s (2003) .
10.―Marketing Strategy‖, ―strategy‖, or any other keywords or similar concepts listed in marketing i i i i i i i i i i i i
strategy conceptualization such as ―goals‖, ―strategic/marketing planning‖, ―marketing mix‖,

i i i i i i i i i
―integrated marketing program‖, and ―segmentation/targeting/positioning‖, etc. were retained for

i i i i i i i i i
further additional analysis.

i i i I
11. Varadarajan (2010), strategic marketing refers to the general field of study while marketing
strategy refers to the organizational strategy construct that is the principal focus of the field. Thus,
while all marketing strategy-focused papers are within the field of strategic marketing, not all
strategic marketing research concerns marketing strategy.

i i i i i i
12. Research on marketing strategy has been carried out with perspectives both of marketing
management and strategic management. Initial research in marketing strategywas devoted to

development of models for strategy development which were essentially generic in nature and can
be applied to large as well as small firms.

i i i i i i i i i
13. Few researchers had developed marketing models specific to small business. However, model
for marketing strategy particularly for small business in Indian scenario has only been attempted in
limited number of studies.

i i i i
14. It can be observed that the initial literature on models for marketing strategy or strategy
formulation considers only a few parameters or few stages and lacks a holistic approach.
Majority of the scales for measuring marketing strategy possessing high degree of validity and
reliability have been developed for large and multi-national companies. However, scales developed
for capturing the marketing strategies in Indian context are scarce.

15.Few studies have been devoted to validation of the scales developed indifferent sectors using
techniques such as confirmatory factor analysis. The applicability of these scales in Indian context
can be studied.
i i i i
16. While large number of studies on marketing strategy carried out internationally focused on
relationship between marketing strategy and performance, only a few studies in Indian context have
been reported particularly in small and micro business sector.

i i i i i i i i i
17.Numerous studies have been reported on marketing strategy pertaining to large business sectors
in both India and abroad. Detailed Investigation on insights regarding similarities and differences of
results may be attempted. Particularly, India in itself being a diversified country, huge potential
exist in identifying regional differences in adopting marketing strategy.

i i i i i i i i i i
18 .A very few studies reported have employed mathematical modeling techniques to correlate
factors influencing marketing strategy. Future research work can be devoted towards employing
different modeling techniques towards strategy formulation.

i i i i i i
19.Most of the studies in India address the effectiveness of these marketing efforts and the
problems faced by the small businesses in the country. It is also observed that a large number of
small businesses rely on short term strategies rather than long term strategies that influences their
revenue and sustenance. Thus a research towards development of appropriate long term marketing
strategy would form a significant contribution to literature.

i i i i i i i i
20. Literature identifies many antecedents and factors influencing marketing strategy. The
i i i i i i i i i i
relationship between factors and their influence on the strategy output and performance of the firm
needs
i i i has been observed that many factors exhibit mediating role between strategy and
performance which needs to be ascertained for Indian context.

i i i i i i i i i
CHAPTER 3 i
RESEARCH DESIGN ii
Research Problem i
Problem definition is the first and foremost part of the research process, without this research
i i i i i i i i iii i i i i i
cannot be completed until and unless there is a problem or objective, the research cannot be
initiated. Problem definition refers to the objective on which research has to be done, so problem
definition in my project is the study of the, marketing strategies of the firm and their effectiveness in
the market.
i i
Research Methodology i
It is one of the important aspects of any project. This gives us clear cut view of method so used while
gathering the information so needed for the completion of the report.

Type of study : Exploratory & descriptive (Cross-Selectional study) in nature.

i i i i i i i i i i
Objectives:
 To ireview ithe ibrand ipositioning istrategies iof idifferent isub-brands iof iTitan
iwatches.
 To ianalyze ithe ibrand irepositioning istrategies iof iTitan iwatches.
 To istudy iconsumer iawareness iand iperception iabout ithe ibrand irepositioning
Strategies iof iTitan iwatches.
 To irecommend isuitable imeasures ito ibe itaken iby ithe iTitan iCompany ito ifurther.
 Improve iits ibrand iperception iand iloyalty iamong iits icustomers.
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.
i
Scope i
We have chosen to concentrate on the choice of marketing strategies that are useful in companies
that provide services particularly, integrated facility services.

i i i i i i i i
Sources of Data Collection i I i
The relevant data was collected from both primary sources and secondary sources. The starting
point of my information gathering has been the secondary sources such as internet, books, and
journals and so on.

i i i i
ii First, I made a study of the brand positioning and repositioning strategies of Titan watches through
secondary sources such as internet, insurance magazines, and journals and so on. Then I conducted
a consumer awareness survey on brand repositioning strategies undertaken by Titan watches in

recent times.
i i
Primary Data: i
It is collected a fresh and for the first time and thus happen to be original in character. Under this
collection of data from surces of information and techniques such as personal interview and survey
through questionnaire for the customers has been considered.

i i i i i i i i
Secondary Data: i
It is already collected by someone else and which has already been passed through statistical
processing, under this project secondary data has been collected from journals, magazines & web
sites.
i
Sample size i
The sample size fir the survey 30-40

i i i i i i
Sampling size i
The data which had been collected from different respondents from the customers.
i ii i i i i i i i i i
Sampling technique i
It is a technique used in this project was non-random convenience sampling.

Statistical tool i
The statistical tools used for analysis are:

i i i i i i
1.Pie-chatrs and bar- graphs i i i
2.SPSS
3.MS.excel.
Limitations:
 The study is confined to Navi Mumbai area only

i i i i i i i i
 There is possibility of sampling errors in the study

i i i i i i i i
 The responses of the consumers may not be genuine

i i i i i i i i
 The questions included in the questionnaire may not be comprehensive.

i i i i i i i i i
iiiiii
CHAPTER 4 i
DATA ANALYSIS AND INTERPRETATION

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

i i i i i i i i
iiiiiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 1: Titan sub-brands possessed by respondents

i i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiii Table No1: Titan sub-brands possessed by respondents

i i i i i i
S.NO. Sub Brands

i Percentage
%
1 Fastrack 72
2 Sonata 14
3 Raga 6
4 Nebula 4
5 WWF 2
6 Edge 2
Analysis: Titan sub-brand owned i i i
This was a multiple choice question where respondents were asked to choose sub-brands of Titan
which they possess. It was found that around 72% of the consumers in the age group of 20-30 years
possess Fastrack brand, 14% Sonata, 6% Raga, 4% Nebula and only 2% own WWF and Edge.
2. Since how many months / years have you been using Titan watch?
iiiiiiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 2: Period of Titan watch‟s use

i i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No2: Period of Titan watch‟s use

i i i i i i
S.NO. Period Of Usage i i Percentage

Years %
1 2001-2004 64
2 2004-2007 24
3 2007-2010 12
Analysis: Period of use i i i
The respondents were asked to mention since how long they have been brand loyal to Titan. This
was an open ended question and hence various responses were received. The minimum period of
use was set as one year, as mentioned earlier, while the maximum period of use was determined. For
convenience, the different responses are categorized into three: 2001year – 2004years, 2004years –
2007years and 2007years – 2010years.64% of the respondents fall into first category, i.e., they are
using Titan watch in the range of one to four years. 24% respondents are in second category and the
rest 12 % are using it for more than seven years.

Q3.Why do you prefer Titan brand?
i i i i i
iii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 3: Reasons for brand preference

i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table 3: Reasons for brand preference

i i i i i
S.NO. Reasons No. of respondents

i i
(out of total 50)

i i i
1 Attractive designs i 39
2 Reasonable Price i 7
3 Brand image i 22
4 Good quality i 25
Analysis: Reasons for brand loyalty

i i i i
The respondents were asked to select the reasons from the options given for their preference for
Titan watches. For this question, multi-responses were received.

i i i i i i i i
4. Do you remember the original tagline of Titan watches? If yes, please mention.
iiiiiiiiiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 4: Recall of Titan‟s original tagline

i i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 4: Recall of Titan‟s original tagline

i i i i i i i
S.NO. Recall of Titan‟s Tagline i i i Percentage

%
1 YES 22
2 NO 78
Analysis: Recall of Titan‟s tagline

i i i i i
Titan‘s tagline, before brand repositioning exercise has been undertaken, was ―What‘s your style‖.
This tagline was adopted during first rebranding exercise in 2004.

The respondents were asked to indicate whether they remember the tagline in dichotomous way,
i.e., 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.

i i i i i i i
5.Have you seen the advertisement of Titan watches? In which media have you seen the
iadvertisement?
iiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 5: Major Advertisement media

i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No.5 Major Advertisement media

i i i i
S.NO. Major Advertisement Media

i i No. of respondents
i i
(out of 50)
i i
1 TV 46
2 Magazines 25
3 Newspaper 36
4 Hoardings 15
5 Radio 4
Analysis: Titan‟s advertisements

i i
Titan advertises its watches in almost all media vehicles. The advertisements can be seen in TV,
magazines, newspaper, hoardings, billboards, radio and so on.

i i i i i i i i
All the 50 respondents have seen the advertisements of Titan watches in various media. This was a
multi-response question and the options given to select were restricted to TV, magazines,
newspapers, hoardings and radio.

i i i i i
6: Awareness of brand ambassador

i i i i
iiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 6: Awareness of brand ambassador i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 6: Awareness of brand ambassador

i i i i i i
S.NO. Awareness of Brand Ambassador i i i No. Of Respondents i i
(out of 50)
i i
1 Don‘t know i 4
2 Correct responses i 46
Analysis: Brand Ambassador of Titan

i i i i
Aamir Khan is the brand ambassador of Titan since 2004. When the respondents were asked to
recollect the same, 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.
7. Are you aware of the new tagline of Titan?
i i i i i i i i i
iii
iiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 7: Awareness of new tagline

i i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 7: Awareness of new tagline

i i i i i i
S.NO. Awareness of new Tagline i i i Percentage

%
1 Aware 36
2 Not Aware i 64
Analysis: Awareness of new tagline – “Be More”

i i i i i i i
The survey has revealed that less than half of the total numbers of respondents are aware of new
tagline. 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.
i i i i i i i i i i
8. How do you rate the new designs of Titan?
i i i i i i i i i
iiiiiiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 8: Consumer perception of new designs

i i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 8: Consumer perception of new designs

i i i i i i i
S.NO. Consumer Perception i No. of Respondents

i i
(out of 50) i i
1 Poor -
2 Average 4
3 Above Average i -
4 Good 39
5 Excellent 7
Analysis: New designs of Titani i i i
Titan has launched several new designs in 2008 in its existing collections and as per its plans
introduced new product collections also. The respondents were asked to rate the new designs as
―poor‖, ―average‖, ―above average‖, ―good‖ and ―excellent‖.7 respondents feel that their designs
are ―excellent‖, 39 have rated them as ―good‖ and 4 have rated as ―average‖.
9. Have you seen the new campaign of Titan?
i i i i i i i i i
iiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 9: Awareness of new campaign

i i i i i
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 9: Awareness of new campaign

i i i i i i
S.NO. Awareness Of New Campaign i i i Percentage

%
1 Aware 50
2 Not Aware i 50
Analysis: New Campaign of Titan

i i i i
The survey has revealed that the percentage of respondents who have seen the new campaign
focussing on ―be more‖ featuring Aamir Khan is 50%.

i i i i i i i i i
10. Do you think the new advertisement is effective in inspiring consumers to have a new look
i everyday and be more in lives? i i i i i
iiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 10: Consumer perception of new campaign

i i i i i i
iii
iiiiiiiiiiiiiiiiiiiiiiiiiiii Table No 10: Consumer perception of new campaign

i i i i i i i
S.NO. Consumer Perception Of New Campaign i i i i No. Of Respondents

i i
(out of 25) i i
1 Not at all effective

i i i -
2 Effective 16
3 Highly Effective i 9
Analysis: Rating of New Campaign i i i i
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.
i
The respondents were asked to rate it as ―not at all effective‖, ―effective‖ and ―highly effective‖. 16
out of 25 respondents consider the new campaign to be ―highly effective‖ while the remaining 9
rated it as ―effective‖
i i i i
11. How do you rate Titan‟s exclusive showrooms?
i i i i i i i
iiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiii Figure 11: Consumer perception of store ambience

i i i i i i
iiiiiiiiiiiii Table No11: Consumer perception of store ambience

i i i i i i
S.NO. Store Ambience

i No. Of Respondents
i i
(out of 50) i i
1 Poor -
2 Average -
3 Above Average i 7
4 Good 36
5 Excellent 7
Analysis: Titan‟s exclusive showrooms

i i i
The respondents were asked to rate Titan‘s exclusive showrooms on 5 point rating scale – Poor,
Average, Above Average, Good and Excellent. The factors related to showrooms that were
provided to the respondents for rating are – store ambience, sales personnel, after sales service and
display of watches.
i i i
36 of the 50 respondents have rated store ambience as ―Good‖ and 7 each rated as ―Above Average‖
and ―Excellent‖. This proves that store ambience plays an important role in consumer perception of
service quality.
i i
12. How do you rate Titan‟s showrooms sales personnel?

i i i i i i i i
iiiiiiiiiiiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiiiiiiiiiii Figure 12: Consumer perception of sales personnel

i i i i i i
Table No12: Consumer perception of sales personnel

i i i i i i
S.NO. Sales personnel i No. Of Respondents

i i
(out of 50) i i
1 Poor 4
2 Average 4
3 Above Average i 7
4 Good 35
5 Excellent -
Analysis: Sales Personnel i i
With respect to sales personnel, 35 respondents rated them as ―Good‖, while 4 each rated as ―Poor‖
and ―Average‖, 7 respondents gave rating of ―Above Average‖.

i i i i i i i i i
13. How do you rate after sales service of titan?

i i i i i i i i i
Figure 13: Consumer Perception about after sales service

i i i i i i i
iiiiiiiiiiiiiiiiii i
iiiiiiiiiiiiiiiiiiiiiiii Figure 13: Consumer Perception about after sales service

i i i i i i i
iiiiiiiiiiiiiiiiiiiii Table No13: Consumer Perception about after sales service

i i i i i i i
S.NO. After Sales Service

i i No. Of Respondents
i i
(out of 50) i i
1 Poor 7
2 Average 4
3 Above Average i 4
4 Good 31
5 Excellent 4
Analysis: After sales service i i i
In the survey, 31 out of 50 respondents rated after sales service as‖ Good‖, 4 each as ―Average‖,
―Above Average‖, ―Excellent‖ while 7 respondents rated as ―Poor‖.

i i i i i i i i i
14. What is your perception about display of titan watches?

i i i i i i i i i
Figure 14: Consumer perception of Display of watches

i i i i i i i
iiiiiiiiiii iiiiiiiiii
iiiiiiiiiiiiiiiiiiiiii Figure 14: Consumer perception of Display of watches

i i i i i i i
iiiiiiiiiiiiiiiiii Table No14: Consumer perception of Display of watches

i i i i i i i
S.NO. Display Of Watches i i No. Of Respondents

i i
(out of 50) i i
1 Poor -
2 Average 4
3 Above Average i -
4 Good 24
5 Excellent 22
Analysis: Display of Titan watchesi i i i
Most of the respondents have given high ratings to the display of watches in Titan showroom. 22
respondents rated it as ―Excellent‖, 24 respondents as ―Good‖ and only 4 respondents gave rating of
―Average‖
i
15. What is your overall perception about Titan showrooms?

i i i i i i i i
Figure 15: Overall perception about Titan showrooms

i i i i i i
iiiiiiiiiiiiii
iiiiiiiiiiiiiiiiiiiiii Figure 15: Overall perception about Titan showrooms

i i i i i i
iiiiiiiiiiiiiiiii Table No15: Overall perception about Titan showrooms

i i i i i i
S.NO. Titan Showrooms

i No. Of Respondents
i i
(out of 50) i i
1 Poor -
2 Average -
3 Above Average i -
4 Good 30
5 Excellent 20
Analysis: Overall perception about titan showroom
i i i i i
The respondents were also asked to give overall rating to Titan‘s exclusive showrooms. It was
found that out of total 50 respondents, 30 rated as ―good‖ while the remaining considered the
showrooms to be ―excellent‖.
i i i i
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, after sales service and display of
watches in the showrooms play a major role in determining the customer perception about brand.
CHAPTER 5 i
FINDINGS
The findings of the consumer awareness survey are listed below:
i i i i i i i i i
 72% of the respondents in the age group of 20 – 30 years possess fast track watch. This
shows that the positioning strategy of these watches has been good.
 Most of the consumers prefer Titan watches for their attractive designs and good quality.
However, there is a misconception about pricing of Titan products among the consumers.
They perceive them to be high priced.

i i i i i i i
 Logos and taglines are rarely noticed by the watch consumers. Hence, any change in them
also goes unnoticed.

i i i
 Advertisement in mass media such as television, newspapers, and magazines are best means i i i i i i i i i i i i
to spread awareness about brand.

i i i i i
 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.

 Titan watches‘ designs are rated as ―good‖ by 78% of the respondents. This indicates that
they are looking forward for more innovative designs to be introduced by the company.
 Only 50% of the respondents have seen the new campaign launched by Titan watches in July
2008. This implies that the reach of the campaign in six months has been to more or less half
of the consumers. However, those who have seen the new campaign consider it to be
effective in conveying the message it intended to deliver, i.e., to ―be more‖ in lives.
 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.
i i
SUGGESTIONS
i i
Suggestions given by the respondents to improve brand image.

i i i i i i i i
Varied responses were received for this question. All the responses have been summarized as
follows:
i
 Introduce more trendy and innovative designs

i i i i i
 Focus on niche markets such as working men and women

i i i i i i i i i
 Spread awareness about availability of watches in lower segments as most of the

i i i i i i i i i i i i i i i i i i i i i i i
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.

i i i i
CONCLUSION iiiiiiiiiiiiiiiiiiii
 To iincrease iits ivisibility, iTitan iCompany ican isponsor ievents isimilar ito ifashion
ishows iin iwhich iall ilatest idesigns ilaunched iare idisplayed. iThis iwould ihave
imultiplier ieffect ias ithe ilatest idesigns ilaunched iby ithe icompany iget inoticed iby
idifferent isegments iof ithe icustomers iin ivaried iways.
 Tie iup iwith iFM iradio ichannels ifor ireminder iadvertisements iand iinforming
icustomers iabout ivarious isales ipromotion ioffers ifrom itime-to-time.
 Invest imore iin iR&D ias icustomer iexpectations iare ichanging irapidly. iThough iTitan
ihas igot imore iproduct icollections, iit ishould ifocus ion iintroducing imore ivarieties
iin ialready iexisting iproduct icollections. iIn iother iwords, ihaving ia ilimited ibut
imore idepth iin iproduct icollections iwould ibe imore iadvantageous.
 Introduce iexclusive icollection ifor iworking iwomen iwhich iis imore icontemporary
iand icomplements iboth itraditional iand iwestern iwear.
 Majority iof ithe ipopulation iin iIndia ilive iin irural iareas. iSo, ishowrooms ishould ibe
iset iup iat iplaces inearer ito ithem. iIntroduce icheaper iand irough iuse iwatches ifor
ithis isegment.
 After isales iservice ihas ito ibe iimproved. iThat iis, ithe iprocess iof iservicing iand
irepairing iof iwatches ishould ibe imade ifaster. iThis ican ibe idone iby iensuring ithe
ispare iparts iavailability iand itraining iall isales ipersonnel iin iTitan ishowrooms ito
iundertake ithese itasks.
 Tie iup iwith iinternational iwatch ibrands iand imake ithem iavailable ilocally.
 Make iuse iof iinternet ito ispread iawareness iamong iconsumers iabout ithe ibrand.

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CHAPTER-1

technology, complemented by international styling.

continent and 32 countries.

Growth of Watch Industry in India: i i i i i

met by watches brought into India from abroad.

reaction of the existing manufactures in the market to the new entrants.

have given way to quartz & digital watches.

renowned watch manufactures.

side of Titan for the other side of you.

sophisticated India woman who appreciated such things.

those seeking exclusivity and status.

those affluent people to whom gold is a precious acquisition.

Brands for Titan i i

or studded with 16 diamonds, or deftly crafted in solid Gold of 10 carats.

trendy shapes, and casual and sporty designs.

designer Laurent Rufenacht.

with a choice of eye-catching dials that complement a true metrosexual.

technology with international styling, manufactured in a state-of-the-art factory at Hosur, Tamil

prescription eye wear.

Titan's main products are: i i i

involvement in the diverse industry.

jewellery, which has a 17% market share.

therefore a nature outcome.

c) Creativity and innovation:

They were ideas company creativity and innovations are lifeblood.

g) Respect and care for the individual:

resources in improving them.

Name of the Company: i i i

Tata Industries & Tamil Nadu Industrial Development Corp.

TITAN COMPANY LIMITED i i i

Mar. 1982 Memorandum of understanding signed between TATAS and FRANCE i i i i i i i

EBAUCHES to participate in a joint venture for the manufacture of watch

set up a joint sector wrist watch manufacturing company – TITAN

Jul i 1984 Titan Watches Ltd., was incorporated

May 1985 Application to Government of India for phased manufacturing programme.

finalization of product, product mix and technology.

Mar. i 1986 Commencement of building construction i i i i

capacity of 2 Million Quartz Analog wrist watches.

Sep. 1994 The name ―TITAN WATCHES LTD.,‖ changed as

― TITAN INDUSTRIES LTD.,‖

2004 Fastrack & Precision Engineering

2013 SKINN Perfumes fastrack,helmets,e-commerce

2014 Entry into Jewelley Dubai/Singapore Subsidiarization of presision

2015 Launch of July Smart watch,Rollout of mount Blane stores

A Titan industry has three major manufacturing divisions namely:

 Quartz analog wrist watches i i i

 Precision jewellery watches i i i

 Bracelet and new business division. i i i i

 Metallic bracelet and pieces. i i i

Strategies followed by Titan i i i

enduring and profitable relationship with its associates.

achieve significant cost reduction and improve profitability.

strengths to other prestigious, personal accessory category.

Corporate Social Responsibility: i i

compact and has been awarded to the company.

 Ensure high degree of satisfaction to all stake holders. i i i i i i i i

 Constantly and value to the prestigious TATA name. i i i i i i i

Titan‟s Corporate Objectives:

 A significant and respected global watch brand

 The market leader in India i i i i i

 Ensure high degree of satisfaction to all stake holders i i i i i i i i i

 Constantly add value to the prestigious TATA name. i i i i i i i

Five Core Values: