"titan" titan watches - corporate strategy & marketing management

TITAN WATCH COMMERCIALS

MAHENDRA PRABHU K13302113HM16

Type – Public (Parent TITAN company)Industry – Luxury accessories market in low income

developing countries like IndiaFounded – July 1987

Headquarters & Corporate office

– Bengaluru, Karnataka and Hosur, Tamil Nadu resp.

Area served – Global (60% market share in India)Key people – Vikram Kapur (Chairman), Bhaskar Bhat

(MD)Products – Watches/accessories, jewellery, Eyewear,

frames, lenses and precision engineering.Revenue – 2853 crore  (FY 2013-14 Q1)

Net income & Profits

– 439 crore (FY 2013-14 Q1)

Employees – 6,850

Parent – JV Tata Group & TIDCO (Tamil Nadu Industrial Development Corporation)

Website

www.titan.co.in

COMPANY PROFILE

KEY FACTS

Titan Industries Limited is the world's fifth largest wrist watch manufacturer and India's leading producer of watches under the HTSE, Fastrack, Sonata, Nebula, RAGA, Regalia, Octane, Dash! & Xylys brands. Its product portfolio includes watches, accessories and jewelry, in both contemporary and traditional designs.

It exports watches to about 32 countries around the world with ten manufacturing facilities across India in Hosur, Dehradun, Goa and manufactures precious jewellery under the Tanishq brand name, making it India's only national jewellery brand.

Titan Industries was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO).

Founder of titan is XERXES DESAI. The CEO of titan is BHASKAR BHATT. The company set up its Corporate office

in Bengaluru (Karnataka) and Registered office in Hosur (Tamil Nadu).

Investment of US$150 million in a 450,000 sq.ft. state-of-the-art facility. Titan manufactures over 100 million watches across 30 countries and cumulative. Has 10 manufacturing bases across India.

The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.

Titan Company is the organization that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India's two most recognized and loved brands Titan and Tanishq to its credit.

TITAN WATCH DIVISION

Titan Watch division was started in 1987. At launch it was the third watch company in India after HMT and Allwyn.

Titan formed a joint venture with Timex, which lasted until 1998, and set up a distribution network across India.

As of 2010, Titan watches account for a 60% share of the total Indian market and are also sold in about 40 countries through marketing subsidiaries based in London,  Aden,  Dubai and Singapore.

Titan Industries has claimed to have manufactured the world's slimmest wrist watch branded as Titan Edge. Produced indigenously after four years of research and development, the Titan Edge has a total thickness of 3.5 mm and a movement of 1.15 mm.

Apart from the Titan Edge, Titan also offers Steel, Regalia, Raga, Fastrack, Technology, Nebula, Bandhan, Sonata, Octane, specialR.

Vision StatementTo be a world class , innovative and progressive organization and to build

India’s most desirable brands

Mission Statement• To create wealth for all the stakeholders by

building highly successful businesses based on a customer centric approach, and to contribute to the community

Titan tagline: Be more

Fast track tagline: How many you have?

Marketing Strategy

Market segmentation of TITAN WatchesBased on price and income level of customersBrand positioning and social classbased on user category and demographics like age group and genderSensational brand status with ethnocentric loyalty

Advertising strategy and time-retail conceptconvenience and ambience shopping and retail formatSpecialtySpecial occasions, Seasons and FestivalsHigh quality at affordable prices: target customers of all income levelsBuilt brand visibility and weight through social media website like face book and Twitter

PRODUCT

Sales promotion:Sponsorship

Seasonality

Promotion through Contests

Public relation:Gift concept

Promotion On Occasions

Advertising

media:Television

Print

Internet

Social media

1. Advertising2. Sales promotion3. Public relation

fastrack

Fastrack is a popular brand among youth in India. Fastrack watches come in a variety of styles,

shapes and colors. New models are launched very year.

TITAN EDGE

Positioned as World's Thinnest watch is developed by Titan R&D. With a thickness of 3.5 mm and an incredible slim movement of 1.15 mm.

The brand is targeting Corporate world, Business Executives and professionals.

TITAN-WWF

This series is being launched in collaboration with the International NGO -WWF

Targeted at the new generation consumers who wants to express their concern about animals and nature.

Added a touch of social equity to the brand

TITAN RAGA

Titan has made its presence in the ladies watch segment. Subsidiary brand Raga targets upwardly Mobile ladies in the premium segment

Epitome of feminine grace

NEBULA

A collection of intricately carved designs for women inspired by paisley and floral patterns

Perfect to complement a traditional or contemporary outfit

AVIATOR

Inspired by the World War II fighter planes and requirements of aero plane pilots.

Targeting the adventure spirit with fashion consciousness of global Indian.

PRICE

Titan prices according to the features and value delivered. They get the maximum market share from Sonata. Since there is no one offering pure gold watches and jewellery watches so it is able to skim the market with their distinct products. Titan comes out every year with a price discount sale on watches.

  Pricing Objectives Survival (i.e. Titan Exacta) Market share (i.e. Titan Sonata) Market skimming (i.e. Titan Nebula) Product quality

Pricing method Mark-up pricing Product line pricing Promotional pricing Pricing policy & strategy Three major segments Lower segment 1000 plus segment

PROMOTION Target best Advertising space Sales promotion across the year Dedicated and active PR cell 24*7 toll free call centre for CRM

Advertising media: Television Print (newspapers and magazines) Internet (online edition of newspapers) Social media websites like facebook Posters and Bill board hoarding

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

 Product Concept

Gift concept Promotion on occasions Luxury and ethnocentrism Niche status

World of Titan Showrooms - HeliosTime ZoneTraditional OutletsNon Traditional Outlets

SEGMENTATIONTARGETING

& POSITIONING

SEGMENTATION

Titan has segmented the market on the basis of the following variables: Demographic (age and social class), Psychographic (lifestyle and personality), Behavioral (benefits and occasions), Geographical (region)

The first consisted of the high income/ elite consumers who were buying a watch as a fashion accessory. They were also willing to buy a watch on impulse. The price tag did not matter to this segment. The price range between Rs.20, 000 and Rs.1 lakh.

The next segmented consisted of consumers who preferred some fashion in their watches but to them price did matter. The price range between Rs.500 and 700.

The third segment consisted of the lower income consumers who saw a watch mainly as a time keeping device and bought mainly on the basis of price. The price range between Rs.350 and 500.

TARGETING

DEMOGRAPHIC Age: 6-11, 12-19, 20-34, 35-49, 50-64, 65+ Gender: Male, Female Occupation: Professionals, Retired, Students,

Homemakers, Sportsmen Social Class: Working Class, Middle Class, Upper Middle

Class, Lower Upper, Upper Uppers

PSYCHOGRAPHIC Lifestyle: Culture- Oriented, Sports- Oriented, Outdoor-

Oriented Personality: Gregarious, Ambitious

POSITIONING

Demographics ( Raga, exclusive watches for women )

Youth ( Fastrack Digital, with “techno-geek” image )

Reliability ( Fastrack, contemporary, sturdy & reliable )

Technology ( Edge, slimmest collection of watches )

Affordability ( Sonata, ‘value for money’ )

RECENT TRENDS

Titan watches are sold in India through chain of exclusive retail stores controlled by Titan Industries.

As of 2010, Titan watches account for a 60% share of the total Indian market and are also sold in about 40 countries through marketing subsidiaries based in London, Aden, Dubai and Singapore.

  On 4 March 2010, Titan Industries announced the launch of its

first Titan flagship store, located at Opposite Shoppers Stop, Bandra Linking Road, Mumbai, India. The store is spread over 2,500 sq ft (230 m2) and houses more than 1500 watches on display from Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and many more. 

On November 16, 2011, Titan Industries acquired Swiss watch maker Favre-Leuba for Euro 2 million.

In October 2012, Titan partnered up with Zee Watch Group, becoming the sole distributors of Titan watches in the U.S.

NEW HTSE technology

In July 2011, Titan launched the HTSE (High Tech Self Energized) collection of watches which run on light. 

According to Titan, these watches can be charged with as low as 200 lux of light, which makes them chargeable with light even from a candle. 

In its press release, the company said that "HTSE draws its design inspiration from the most complex self-energising bodies built by mankind — space stations, satellites and spaceships.

Targeted at the tech-savvy, young urban male, this ultra-modern assortment is truly an epitome of style and technology. Inspired by International Swiss luxury brands.

These watches are at current available at select outlets in select cities throughout the world.

World of Titan Showrooms - HeliosTime ZoneTraditional OutletsNon Traditional Outlets

CONCLUSION

TITAN is a successful, world class, innovative and progressive organization and to build India’s most desirable brands. TITAN is successful in creating wealth for all the stakeholders by building highly successful businesses based on a customer centric approach, and has will to contribute to the society.

With a license for premium fashion watches of global brands, Titan Company repeated its pioneering act and brought international brands into the Indian market. Tommy Hilfiger, FCUK, Timberland & Police as well as the Swiss made - Xylys owe their presence in market to Titan Company.

Titan Company has also made its foray into new similar business segments like spectacle frames, sunglasses, powered lenses, jewellery, purses, belts and bags. Titan owns exclusives retail outlets like Tanishq and Titan Eye+ stores in shopping malls.

THANK YOU

email: mpkintouch21@gmail.comfacebook:

https://www.facebook.com/mpkintouch21

Titan is classic example of sensational brands having made in India tag. it's high on latest technology, precision & features, Indian cultural ethos and International fashion. Titan boosts large customer base with ethnocentric loyalty. Titan boosts large indigenous R&D centre and has proved its calibre and capabilities. Titan has large product range of successful subsidiary brands under its credit.