Lessons in Management Excellence

(L.I.M.E)
Case Study on TITAN
 SUMMARY OF CASE STUDY
• Titan's market share for legal watches has decreased to 50% in the new era of
increased competition and market saturation.
• With a budget allocation of Rs. 25 crore for watches and Rs. 5 crore for its jewellery
division Tanishq, the company is now prepared to fight for market share. Marketing
has begun to new consumer groups.
• In Titan's primary industry, watches, there is a fierce competition for wrist share.
• With the proliferation of unbranded watches at the lower end of the market, the
Chinese have taken over, Allwyn and Times are Japanese mid-range brands, and
Swiss dominate the luxury segment.
• A surprising new competitor for the title of widely used timekeeper
is the cell phone.
 SUMMARY OF CASE STUDY (Contd..)
• The emphasis on the high-end clientele and image has vanished. We are common folk, and
the average man is who we are aiming for.
• The lower end of the watch market, where volumes are huge and niches may be developed,
is currently the emphasis.
• Targeted niche consumer segments have been found based on lifestyle, socioeconomic
status, and personality types.
• Each market category is the target of a more targeted marketing strategy, with new models
being introduced and unpopular watch models being phased out.
• The important considerations are cost and design. Titan's excellent brand equity is one of its
strong suits.
• Titan is enhancing its distribution network, which includes 120 watch retailers, 56 jewellery
boutiques, and 65 distributors.
Q.What product, promotion and pricing
strategies would you suggest for Titan Watches?
Product Strategy of Titan Watches
Titan Company Limited has a beautifully designed product portfolio of
watches that caters to all demographics. Be it an iconic luxury
wristwatch or a fitness tracker watch or a kid looking for Marvel’s
Avengers-themed watch, Titan has all kinds of watches to offer.
Titan also has strong research and development (R&D) facilities through
which comes with the new technology of watches from time to time
and thus making the life of the customers easy.
• Price Strategy of Titan Watches
• Titan has a huge range of products to offer but let’s face it, not
everyone will have the same requirement when it comes to
purchasing the same. With this in mind, its pricing strategy ranges
from Rs. 1,000 to Rs. 25,000.
• Titan’s pricing strategy is as per the strength of the products and
services offered. That is why we endeavour to offer the best value to
our customers and strive to bring them compelling products at
reasonable prices.
Promotion Strategy of Titan Watches
Titan has been always active in promoting its products from time to
time, be it digitally or from the traditional. Just like its omnichannel
distribution strategy, it uses an omnichannel promotion approach using
all necessary mediums of communication to promote its ads.
The company uses Newspapers and Television as its primary form of
offline communication. It is an effective medium because both media
can reach a wider audience and reach large targeted groups.