STUDY OF TITAN WATCHES

PRESENTED BY KARISHMA VERMA TYBMM ROLL 30

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.

 A firm differentiates itself from its competitors if it can be unique at something that is valuable to the buyer beyond simply offering low price. Titans first attempt at emphasizing its sub-brands didnt yield the desired results. Instead of targeting different customer segments with different subbrands (as is being done now), the watchmaker focused on product differentiation as the selling platform.

With product differentiation being replaced by segment-based focus, Titans sub-brands building has got bright chances of creating an identity of their own.

MODIFICATIONS IN TITAN
1994- Analog electronic watches with a choice of over 150 designs was manufactured 1987- The Company established a manufacturing facility at Hosur for the manufacture of components for watches 1989 - A new range of watches called `Aqura' was launched in December. 1991- The company undertook to set up a jewellery business at Hosur 1992- `Raga' introduced in June, `Spectra' a range of watches in steel and gold plated was reintroduced with a new look in August

 1993 - The name of the Company was changed with effect from 21st Sept. from Titan Watches, Ltd. to Titan Industries Ltd. 1994 - The Company introduced `Tanishq' range of watches made of 18 carat gold and studded with precious stones 2000 - Titan Industries has announced the launch of Cyber, a range of digital clocks 2001 - Titan Industries Ltd. has launched three new collections of its popular Dash brand of watches for kids -- Popeye, Digital and Lumibrite. 2004- Relaunches 'Raga', the women's watch range 2006- Titan to set up Tanishq exclusive stores in US, Titan Industries sets up boutique in Banjara Hills

BRAND PROFILE OF TITAN

Edge Raga Octane Zoop WWF Heritage Orion Nebula Sonata

Exacta

Titan Bandhan watches

Spectra Dash

Regalia
Fastrack Royale Classique Xylys

MAJOR COMPETITORS
Maxima-quartz Rado Casio

Domestic Level

International level

Espirit Swatch Citizen Tag Heuer Seiko Cartier Giordano

SEGMENTATION
Titan has segmented the market on the basis of the following variables: Demographic: The segmentation here is done on the basis of social class Psycho graphic: In Psychographic segmentation buyers are divided into different groups on the basis of lifestyle and personalities. Behavioral: Benefits: functional, attractive, reliable, Occasions: gifts, special occasions. Complementing this segmentation Titan is pursuing a three-pronged strategy Create a separate brand for the lower end of the segment. Create new (sub) brands for unaddressed segments, like kids. Re-aim existing sub-brands (Raga, Classique and Regalia etc) to attract specific customer segments, like businessmen, women etc.

POSITIONING
Titan has been positioned as a premium brand, providing high quality products. With its numerous sub-brands catering to different segments, the challenge that Titan faces is to create a strong brand image. It follows different positioning strategies; Attribute Positioning: When the company launched its products, it was the first to bring quartz watches to the Indian market. The company successfully leveraged this to penetrate the market and gain a market share. User Positioning: Titan caters to several user groups- children (the Dash), sportspersons and adventurers (PSI4000 and Fastrack range). The Fastrack range is seen as being contemporary, sturdy and reliable. The advertising, packaging and merchandising of this range is young, vibrant and cool (the ad line says Cool watches by Titan)

CONTD
Benefit Positioning: The Fastrack Digital range offers the customer a functional watch that is also attractive. The digital watch has a techno-geek image, but Titan seeks to differentiate its offering on the basis of superior style and attractiveness Competitor Positioning: With the entry of several foreign watchmakers into the market, Titan had to counter the threat. Most of the entrants are catering to the upper end of the market- Omega, Tissot, Cartier etc. Titan already had the Tanishq brand in this segment. However, it has tried to reposition this brand by increasing the price range to encourage more customers. Quality or Price Positioning: In the overseas market, especially in Europe where it is competing with Swiss and Japanese watches, it is positioning itself as valuefor- money: reasonably priced (less than Swiss watches and higher than Japanese), attractively styled and of good quality.

DISTRIBUTION STRATEGY
Titan successfully identified consumers psyche about the outlets of watch as watch store Titan by the exclusive outlets for selling the brands of titan called The World of Titan changed the perception of consumer It entered into a joint venture with Timex, it made inroads into the lower segment Its association with Titan in India led to wrong segment targeting

Since then, it has launched the Sonata range of watches that is in direct competition with the Timex range

PROMOTION
1. Advertising 2. Sales promotion 3. Public relation

Advertising media: Television Print Internet

Titan tagline: Be more Fast track tagline: Move on

CREATIVE ADVERTISING
Titan watches selected Aamir Khan as its branch ambassador Titan watches is taking watches as an accessory for self expression, and who better can pass this message to public than Aamir Khan Titan also thinks that there is a perfect fit between Aamir Khan and Titan because of their stature, timelessness The association with Aamir Khan and Titan is mainly due to the brand values that both Titan and the actor are associated with.

INTERNATIONAL BUSINESS
One of Indias first companies to market a consumer brand overseas. Now present in 26 countries outside India Among the top 3 brands in some Asian countries Selling 650k watches annually with increasing presence in jewellery. Total export sales of over Rs 100 crores in 2006-07 Ranked No.3 amongst the top Life style Brands in the watches category by Business Today ( Oman) for the third year in a row

SWOT ANALYSIS

STRENGTHS
Watches as a fashion accessory Quality or price positioning Brand image Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders. Customer value and offered after sales service in a showroom environment.

WEAKNESSES
Main USP is low cost watch. Lack of futuristic approach Lack of flexible thinking

CUSTOMER SERVICE
The Watch Care Centres are attached to the World of Titan and Authorised Service Centers are attached to the Multi-brand outlets Titan Customer Service also markets spares and accessories, such as batteries, leather and metal bracelets to all outlets that sell Titan, Sonata and Fastrack watches Titan Customer Service, with the ISO 9001 & 14001 certification, focuses on the best post-sale experience and complete customer contentment

SUGGESTIONS
Internet presence- The Company should try to increase its presence in internet space and try to create a good e-portal for its products to promote e buying. Increased usage- As we can see that 80% of users have just one or two watches, so company should try to increase usage by promoting various ranges for various occasion, situation and time. After Sale service- It is the single factor where company is lacking and needs to make effort. After sales service has to be improved. That is, the process of servicing and repairing of watches should be made faster. This can be done by ensuring the spare parts availability and training all sales personnel in Titan showrooms to undertake these tasks

CONTD
Event sponsorship- To increase its visibility, Titan Company can sponsor events similar to fashion shows in which all latest designs launched are displayed. This would have multiplier effect as the latest design launched by the company gets noticed by different segments of the customers in varied ways. Radio adds- Tie up with FM radio channels for reminder advertisements and informing customers about various sales promotion offers from time-to-time. Product Diversification - Titan can also look into diversifying watch business to wall clocks, table clocks Business digital clocks

THANK YOU !!!

BIBLIOGRAPHY
Brand builder of Titan www.google.com Scribd.com Wikipedia.org