WORLD OF TITAN

INTRODUCTION • Titan is the largest watch company in India and the fifth largest in the world. • Titan manufactures over 90 million watches across 30 countries and cumulative. • Titan Industries was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO). • The company set up its corporate office in Bangalore (Karnataka) and its watch manufacturing facility in Hosur (Tamil Nadu). • The majority stake in the company is held by the promoters, with TIDCO having 28 per cent of the shares and Tata Group companies owning 25 percent of the shares. • Public holding in the company is around 28 per cent. The rest of the stake is held by foreign institutions, non-resident Indians, mutual funds and other institutions.

1989 : Aqura was launched, the trendy range for the youth, colour ful, smart and affordable plastic watches: “The other side of Titan for the other side of you.” 1992 : Raga the ethnic range, with striking symbolism from ethnic India, for the sophisticated woman 1993, Insignia was launched, very distinctive and international-looking top-end watches, for those seeking exclusivity and status. 1994, 2000 was launched, rugged, sporty and very masculine watches with serious sports features (200-m water resistance, high precision chronographs) for those with the penchant for adventure. 1995 Tanishq was launched, the most desirable jewellery brand was launched. 1996 Dash was launched, the cute and colourful range for kids. 1997 Sonata was launched, the affordable, good quality range for the budget-conscious. 1998 Fastrack was launched, the cool, trendy, funky range for the young. 1999, Nebula was launched, the solid gold and diamond-studded range of luxury watches for those affluent people to whom gold is a precious acquisition. 2001, Steel was launched, the smart and contemporary collection for the young 21st century executive. 2007 TITAN EYE+ was launched, the prescription eyewear 2008 Brand collections like the Octane, Diva, WWF and Zoop - each of them unique and fascinating were launched.

Profit and Lost Sheet

Net Income

CORE PRODUCTS

Titan Eye +: Eye Wear

Tanishq : Jewelry

TITAN : Watches

Precision Engineering Division

Precision Engineering Division

Precision Engineering Division
Leveraging precision engineering core competencies from watch making, Titan initiated a PRECISION ENGINEERING DIVISION in 2002, catering to global majors across industry verticals like aerospace, automotive, oil & gas, engineering, hydraulics, solar and medical instruments.

• With an investment of over $10 million, the setup has four main business units
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Precision Engineering Components & Sub-Assemblies (PECSA) Machine Building & Automation Solutions Tooling Solutions Electronic sub-assemblies

TITAN EYE +

PRODUCTS

Frames

Contact Lenses

Optical Lenses

Sunglasses

The Inception Phase
• • • In March 2007 Titan industries and TIDCO announced their joint venture into prescription eyewear business. Operations started in April 2007. Expansion plan in the offing :plan to open 150 eye+ stores and 100+ franchised stores.

Product and services : Titan Eye +
Frames: Eye+ and Dash brand(children) and host of international brands. Optical Lense: Offers Essilor, Kodak and Titan lenses. Have entered into a technical pact with Sankara Nethralaya for training of retail and clinic staff. Contact Lenses : Also houses contact lenses from J&J,B&L. A variety of sunglasses including Fastrack.

The Eyewear Market - An Untapped opportunity
MARKET SIZE • 30% of population needs correction in vision i.eapprox. 300 million users. • 25-35 million units of eyewear per annum. • Rs.1500-1800 per annum. • Comparable to watch industry. • Almost everyone above 40 years of age need correction. • A double digit growth rate of 15%-20%.
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DEMAND DRIVERS • Urbanization. • Literacy. • Penetration of TV & Computers. • Poor eye health due to lifestyle/improper diet. ü
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OUTSOURCE
FR A M E & LE N S M A N U FA C T URI G N W H O LE S A LE D IS T R IB U T I ON LE N S FIN IS H IN G &ASSEMBL Y

D ESI N G &MARKETI NG

R E TA IL S E R V IC E

Fo cu s o n d e si n a n d h i h m a rg i a re a s: g g n D E S I N , R E TA I , S E R V I E & M A R K E T I G . G L C N

Product

TANISHQ

Introduction
• • • • • • Tanishq was launched in the year 1995. It was the first time Titan had ventured into business other than watches. Changed its image from a watch manufacturer to a fashion accessories manufacturer. Titan was renamed Titan Industries Ltd. Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities. With an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the product range.

Brand positioning
Changed the brand positioning from that of an elitist and Westernized offering to a more mainstream, Indian one Shift from modern designs to more ethnic and traditional ones Introduction of Karat-meter Standardization of prices Quality assurance

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Besides its wide range of products, Tanishq also provides a host of value added services • Golden Harvest saving scheme • Gift Voucher purchase • Exchange of gold and diamonds • Anuttara
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Marketing Strategies, Sales & Distribution
Tanishq undertook certain marketing initiatives, including launching a heritage special collection and conducting sales promotion schemes to activate the market and attract customers. Wedding/Heritage Jewellery Festivals Customer Schemes Gold Plus Focus on Advertising

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M A R K ET SH ARE

Pro d u ct

TITAN WATCHES

Sonata

Dash!

Fastrack

Steel

Edge

Raga

Nebula

XYLYS

Market Positioning
BRAND FAST TRACK EXCTA SPECTRA ROYAL TITAN SONATA RAGA BANDHAN REGALIA EDGE NUBULA PURCHASING POWER (PRICE) RS. 550-1,430 595-1,430 650-1,830 960-2,830 CATEGORY YOUTH LOWER MIDDLE CLASS (Office wear) COMMON CLASS

Purchasing power of consumers
UPPER- MIDDLE CLASS 2000-4000 350-900 1,420-4,000 1,675-8,085 1,725-7770 4,500-5,200 10,000-45,000 UPPER CLASS COUPLES

LOWER MIDDLE CLASS & UPPER CLASS
LOWER MIDDLE CLASS - UPPER MIDDLE CLASS

UPPER MIDDLE CLASS-UPPER CLASS BUSINESS CLASS UPPER CLASS

Competitor Positioning

TITAN -WWF: • Inspired from six species namely the Tiger, Indian Rahino Gnagetic river Dolphin, Red Panda, Whale shark and Oliver Ridley Turtle. • It include the watches namely RAGA, EDGE and NEBULA. As it is the new collection it requires more investment for Tiatn-wwf as the market growth is also high there.
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Heritage collection • Based on beautiful monument of India including The Taj-Mahal, Lakshmi Vials Place, Jharokha, Konark ,Ajanta.  

PROMOTION


Advertising media:
Television Print Internet

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Titan brand ambassador: Titan Brand: Aamir Khan Sonata: Mahendra Singh Dhoni Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose

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• • Titan tagline: Be more Fast track tagline: How many you have?

SWOT Analysis on titan

Strength • Style • Models • Exclusive products • Other than these there have few more strength like• Contribution of owned brands and retail. The profit is accounted by being in the retail space which is booming. • Watches are available with popular functions like dates, multifunction and chronographic. • Guarantee/warranty   Weaknesses • Pricing of high end products • Globalization – Threat from new entrant   Opportunities • Seasonality • Gifting concept • Exchanging offer

D. • • •

Threats Competitor Premium segment Mobile Phones

Marketing Mix:


Price: As marketing objectives, the main consideration will be in changing price are followings. A. Survival: Titan prices its products according to the features. B. Market share: Pricing as per the market segments. For e.g. Sonata for the Lower Segments of the market. 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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Product: Quality and leadership are the two main terms for the Titan. As to achieve the marketing objective this aspects should also be considered. A. Product line: To increase the sales, the difference in the prices of the watches is justified by the features. B. Product pyramid: Portfolio of Titan’s product is of 3 distinct pricerange that can be defined in general, as Popular, Mid, and Premium. C. Product strategy: Titan created new segments and increasingly focusing on segments individually.

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Promotion: • Promotional pricing: • Marketing pricing: As by opening new shops such as the world of Titan – buy directly from the dealer and hence the element of middleman is not there. • 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. • Creative advertising: Titan introduces a contest on cartoon network in india.com which invites children to use creativity and design watch. The prize winning design was launched as a new watch in summer 2002 collection. • Promotion on occasion: Titan is one of the companies which formally believe in the policy of promotion the product based on the occasions. 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. • 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. • B.Value Mart: These outlets sell surplus stocks of Titan watches at reduced prices. • C.Sonata Stores: Sonata stores is also an Authorized Service Centre for Sonata &

Turning back the clock since 1995

R e co m m e n d a ti ons

Titan Watches • Titan can also look into diversifying watch business to – wall clocks, – table clocks – Business digital clocks. • Should also focus more on R&D to come up with new products.

Tanishq • Titan should go about aggressively marketing Tanishq, by using proper pricing strategy; so as to tab customers in tier 2 and tier 3 cities. • It should also strengthen its proper distribution chain network in these cities.

Titan Eye+ • Titan Eye+ being in nascent stages a proper pricing strategy like TITAN watches should be adopted to build proper market segment so as to target Tier 2 and Tier 3 cities also.

THANK YOU !!!
From : PGDM 2009 - 11 , We School , Bangalore Azharuddin Mansiya Chandan Priyadarshi Dharmesh Mehta Ishaque Mulla Rohan Desai Vijaysarathy Krishnan