University Of Mumbai

Project Report On

MARKETING STRATEGY OF TITAN WATCHES

http://managementparadise.com/mba-projects/marketing-management-projects/

In Partial Fulfillment for Bachelors of Management Studies (BMS)

Under The Guidance Of

Prof. Deepa Makkad

Submitted By:

Chaitrali Chaware

Semester V T.Y.BMS (2012-2013)

Vishweshwar Education Society’s

Western College of Commerce & Business Management

Sanpada, Navi

Vishweshar Education Society’s

Western College Commerce & Business Management

Sanpada, Navi Mumbai

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 CERTIFICATE

This is to certify that

Mr. /Ms. ______________________________________________ of

TY.BMS has undertaken and completed the project work titled

_________________________________________ during the

academic year ____________________ under the guidance of

Mr. /Ms. ___________________ submitted on ____________ to

This college in fulfillment for Bachelor of Management Studies (BMS)

University of Mumbai.

Project Guide BMS H.O.D Principal External Examiner

Date:

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 DECLARATION

I, Chaitrali Ankush Chaware student of TYBMS, , Vishweshwar Education Society’s Western College of
Commerce & Business Management hereby declare that I have completed the project report on “Marketing
Strategy of Titan Watches” in the academic year 2012-2013.The information submitted by me is true &
original to the best of my knowledge.

Signature

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 ACKNOWLEDGEMENT

With great pleasure and a deep sense of gratitude I hereby acknowledge everyone who provided me with their
help, assistance and sustained support without which, even if I have had done this work, it would not have
been as it has turned out to be. Their enlightened feedbacks and directions can be sensed as the project moves
on.

I am sincerely thankful to my project guide, prof. Deepa Makkad; who provided me with all the theoretical
and practical inputs for my project. Without his thoughtful support this project would not have been
completed.

INDEX
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 S.NO. CONTENT PAGE NO.

1 Introduction 8

2 Research Methodology 15

3 Industry Overview 17

4 Titan Watches : Brand Positioning Strategies 22

5 Titan Watches : Brand Repositioning Strategies 24

6 Company Profile 67

7 Data Collection & Survey Analysis 71

8 Data Interpretation 87

9 Conclusion 92

10 Suggestions & Recommendation 93

Questionnaire 94

Bibliography 97

EXECUTIVE SUMMARY

Today, a wristwatch is considered as much of a status symbol as a device to tell time. In an age when cell
phones and digital pagers display tiny quartz clocks, the mechanical wristwatch has slowly become less of an
object of function and more a piece of modern culture. The Indian watch industry began in the year 1961 with
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the commissioning of the watch division of HMT. The first watch model manufactured by HMT was the
Janata model in the year 1962. HMT was the leader in the watch market till the Tata’s formed Titan Watches
in association with Tamil Nadu Industrial Development Corporation in the year 1987. Titan was the first
company to launch quartz watches in India. The Indian watch market is today of 40 million units, out of
which 60% is in the unorganized sector in which the maximum number of watches are sold are below Rs.300.
Quartz watches form two third of the organized sector and the rest is split between mechanical and digital
watches. Even in the organized sector, three fourth of the sales by volume comes from watches that are priced
below Rs.1000.

Watch is one of the consumer durables whose replacement rate is very high. The replacement rate of
watch is 33.8 %( Source: India market demographics report, 1998). This is also due to the fact that the
estimated scrap rate of wrist watches is 7.8%, which is applicable after 6 years (Source: India market
demographics report, 1998). So, due to high scrap rate, outdated models, and the shift from the mechanical
watches to the quartz watches it is causing a very high replacement demand for watches. This along with the
low penetration level represents the untapped market potential for watches in India.

After liberalization of Indian economy in 1992 many international players have entered the Indian Watch
market posing as competitive threat to the Indian companies.

Lately Titan has tried to reposition its Brand to capture more segments of the watch market retaining the
already served market segment. The strategy has been studied in deep during the project. Many brands and
companies are constantly reinvigorating their businesses and positioning them for growth. There is a constant
need to innovate, reinvigorate, update, recalibrate, or just simply fend off the competition in an effort to better
explain "why buy me."

Brand positioning creates a specific place in the market for the brand and product offerings. It reaches
a certain type of consumers and delivers benefits that meet the needs of several key target groups and user.

The actual approach of a company or brand's positioning in the marketplace depends on how it
communicates the benefits and product attributes to consumers and users. As a result, the brand positioning
of….

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 Download Full Project Report on
Marketing Strategy of Titan Watches
http://www.managementparadise.com/chaitrali.chaware/docu
ments/7390/project-on-marketing-strategy-of-titan-watches/

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