VISION & MISSION

Our Vision: To be a world-class, innovative, progressive organisation and to build Indias most desirable brands. Our Mission: To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach, and to contribute to the community. Our Values and Standards: Total customer orientation - Customers take precedence over all else, always. Employee appreciation - We value and respect Titanians and endeavour to fulfill their needs and aspirations. Performance culture and teamwork - At Titan Industries, high performance is but a way of life and is nurtured by teamwork. Creativity and Innovation - Driven by innovation and creativity, we focus on smarter approaches and newer technologies. Passion for excellence - In all our pursuits, we ceaselessly strive for excellence. Corporate Citizenship - We ensure that a part of our resources is invested in environment and community betterment.

Introduction
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. 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 TATAs to enter. Xerxes Desai, a TATA veteran and the MD of TATA Press was elected to that business. By offering quality products and classic design with advanced technology to the consumers, Titan made a success story. Outstanding services, wide variety of models and effective marketing helped Titan to capture the market in its born stage. The reason behind the success of Titan watches was their research on the Indian consumer psychological mind. The company today has a model for every price segment and every market, urban and rural, regional and international. Titan brought quartz technology first in the Indian market and acquired first place by displacing HMT into second place, who offers mechanically driven wristwatch.

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It also brought a sense of style and design, which is only available in the West or in Japan at that point of time.

Major Competitor

There are lots of competitor in wrist watch segment which directly or in directly affecting the titan watches industry. The major players are-

Domestic Level: HMT

Maxima-quartz

Rado Casio International level: Espirt Swatch Citizen

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Tag heuer

Seiko Cartier Giordano Fashion Houses: Dkny Gucci Adidas Nike

Bvlgary

Among all these competitors, Maxima-quartz and HMT are major players .The strength and weakness of the companies varies from segment to segment.

Spending habit of consumers

Despite of high inflation, high oil prices and high volatility in gold prices, watch segment of Titan Industries doing well in the current fiscal. For these, watch segment sales income increased from Rs.168.83 crore during the first quarter of last year to Rs.171.89 crore during the corresponding period this year. These data indicate that consumers spending pattern is increasing respective target market. From the above information we can easily understand that consumers buying more of Titan wristwatch. There are few reasons behind the growth in sales of Titan .They are as follow.
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Brand name Quality of the products Features ,which differentiate from others Attractive models New innovation

III. SWOT Analysis A. Strength:

1. Style: Titan first introduced the style concept in India and projected the watch as a

fashion accessory. Now a days 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.
2. Models: As Titan offers the best and the biggest range to customer to choose the watch

of their choice with an affordable price. It offers about 14 different names with about 1000plus different varieties with a watch for literally everyone.
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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Other than these there have few more strength like-

4. Contribution of owned brands and retail. The profit is accounted by being in the retail space which is booming.
5. Watches are available with popular functions like dates, multifunction and

chronographic.
6. Guarantee/warranty

A. Weaknesses

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.
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.

B. Opportunities
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1. Seasonality: At the time of festival, like Diwali Titan promotes Nebula, Bandhan

because there is demand for the products. - Gold watches and pairs are the like as a wedding occasion. -The fast track brand is promoted in month of June-August when schools and colleges re-open. 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. 3. Exchanging offer: The Titan stores offer exchange offer of any old watch, of any make, in any condition functional or otherwise and receive a flat discount of 25% on their purchase of a brand new, stylish and technologically advanced watch from Titan.

D. Threats
1. Competitor: 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. 2. Premium segment: As in premium segment Titan is getting threats from reputed international brand such as Espirit, Swatch and Citizen. 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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Marketing Mix:
PRICE PRODUCT PROMOTION PLACE

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. A. Survival: 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. B. Market share: As we know that 70% of sales in watches come from the lower segment, therefore by pricing Sonata at 350 onwards with guarantee. 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. 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.

Product:
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Quality and leadership are the two main terms for the Titan. As to achieve the marketing objectives this aspects should also be considered. A. Product line: To increase the sales, the difference in the prices of the watches are justified by the features. B. Product pyramid: Portfolio of Titans product is of 3 distinct price-range that can be defined in 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 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.

Promotion:
Promotional pricing:
A.

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.

Here the retailer in this category buys watches for 17-18% lesser than MRP and hence they are able to get the 17% profit margin on sales. 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.
B.

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 . 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.
C.

Promotion on occasion: Titan is one of the company which formally believes 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 countrys 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. 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.

D. Head office, regional office, showrooms:

Offices

Address

Tower A, Golden Enclave Corporate Airport Road, Bangalore Office 560 017 Regional Office North Regional Office East Regional Office West Regional Office South No. 202, Okhla Industrial Area, Phase 3, New Delhi

Telephone +91-80-6660 9000, +91-806660 9027, +9180-6660 9028 011-66603260 / 66628680 / 26332619 / 26332620

Fax

Email

+91-80-2526 9923, +91-80- webmaster@titan.co.in 2526 3001 011-26321994webmaster@titan.co.in

Block 'C', 8th Floor, 033-22495553 / Apeejay House 15, Park 5556 22495167 Street Kolkata - 700 016 The Metropolitan 9th Floor, Plot No. C-26/27 022-26571128 Bandra-Kurla Complex 32 Bandra East Mumbai - 400 051 Mitra Towers #10/4 Kasturba Road Bangalore - 080-4150 4000 560 001

033-22494941webmaster@titan.co.in

022-26571717webmaster@titan.co.in

080-4150 4111

webmaster@titan.co.in

IN HYDERABAD:
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16-11-741-C/2B NANDINI COMPLEX, DILSUKHNAGAR500036 PH: 040-24040019 AMRUTHA MALL, RAJ BHAVAN ROAD BEGUMPET, PANJAGUTTA500016 PH: 040- 23325056 55611424 2, UPPER GROUND FLOOR METHODIST COMPLEX, ABIDS500001 PH: 040-55513580 PRASADS, OFF. N.T.R.GARDENS L.I.C.DIVISION P.O.500063 PH: 040-23450228 103&104, ALLURI TRADE CENTRE NEAR KPHB COLONY, KUKATPALLY500 072 PH: 23062744/ 23060654 LIBERTY PLAZA 3-6-365, BASHEERBAGH500029 PH: 040-23220107 SHOP NO 4, CITY CENTRE MALL BANJARA HILLS500 072 PH: 040-66611888 2-85,Chandanagar, 500050 040- 23030307/66139139 MBR PLAZA,(NEXT TO LEVIS), DR.A.S.RAO NAGAR,040-42213362 DOOR NO.3-10-6,CG GOPAL RAO COLONY, TIRUMALGHERI MAIN ROAD,KARKHANA,500015

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Marketing Implementations: Marketing plan basically implemented on the basis of market segmentation . We have gone through the target market segment which basically include High income class Middle income class Lower income class

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 THE SOCITAL PROCESS WHICH HELP IN FULLFILLMENT OF THE NEED ,DEMAND OF THE CONSUMER AT A PROFIT. Implementation is an integral part of strategy. It make sense when it is implemented into Indian 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.

Budget and control:

It is very important to make a control on Budget to reduce the operating cost which we can reduce to certain amount by the following ways. Retailing: Titan bring in the concept of retailing into the watch market ,which will really help in making the Direct relation with customer. This will help in reducing the cost of intermediaries.
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Advertisements cost: As for reducing the cost of companies we can take advertisement into consideration. We can reduce the TV ads cost by reducing the duration of advertisement.

Source of informations:
www.titanwold.com www.tata.com/titan www.google.com www.indianfoline.com www.thehindu.com www.economictimes.com

BOOKS REFERED
MARKETING MANAGEMENT PHILIP KOTLER

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