marketing strategies - titan

7/31/2019 Marketing Strategies - Titan

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Marketing Planning

Presentation on

Group 3:Aditya MishraAnnesha GhoshAnkit GoelAstha SaithHitesh BhatiaRaghav Shah

Saurabh Tondon


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Market Planning Structure

I. Market ScanningII. Identifying market segments and targets

III. Brand Equity and Positioning

IV. Pricing StrategiesV. Distribution networks

VI. Advertisement and sales promotion

VII. Tapping into global marketsVIII.Competitor and SWOT Analysis

IX. Recommendations


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I. MARKET SCANNING


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The Indian Watch Industry

50 million wrist watches sold every year

Average growth

rate 8-10%

As low as 40 watches per 1,000 people in

India as against 120 globally.


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Indian Watch Industry

Organised

Watch

Market

35%Un-

organized65%

% Share of the Indian Watch Industry Low market

penetration

Untapped extreme

low as well as high

end market

Unexplored Opportunity


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Demand in The Watch Industry

Lower End

(Rs.400 -

Rs.1000)

43%

Mass

(< Rs.400), 11

Premium

(>

Rs.5000), 13

Mid Upper

(Rs.1000 -

Rs.5000)

33%

Despite competition from the unorganised marketand Chinese products, demand from the mass

segment and the lower end segment comprises more

than 50% of market

Demand forValue for

Money


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Watch Market Share

Titan

65%

Timex

10%

HMT

8%

Others17%

% Market Share in Organised Watch Industry

Titan - market Leader

Titan has been

positioned as a

premium

brand, providing high

quality products.


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Survey Analysis

20

6

18

32

16

8

Type of watch

Sports watch

Digital Watch

Single strap

Chain watch

Bracelet watch

Others

8.2

3.200

Perception about watches

Accessory

Neccessity


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Survey Analysis

5644

0

20

40

60

Yes No

Preference of watch over cell-

phone

25

41

19

12 3

Attributes followed when making a buy decision

Quality

Price

Brand Image

Style/design

Warranty


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Survey Analysis

0

5

10

15

20

25

30

35

TitanTimex

Tag

HeuerKenneth

ColeCasio

NoneOther

35

24

6

4

19

10

2

Purchasing pattern of our sample


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Survey Analysis

0 10 20 30 40 50

Print Media

Electronic Media

Banners/Hoardings

Friends/Family

18

30

10

42

Source of Awareness


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Survey Analysis

10

48

2517

0

10

20

30

40

50

60

Between

15-22

Between

23-30

Between

30-40

Above 40

Age Groups

28

4

15

30

11

22

0

10

20

30

40

Nil Between

0K-15K

Between

15K-25K

Between

25K-35K

Between

35K-50K

Above 50K

Income Levels

59

41

Gender

Male

Female


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II. MARKET SEGMENTATION & TARGETING


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Segmentation

BASIS:

Age

Gender Income

Generation

Social Class Personality


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Age

GROUPING:

Less than 12 : Dash, Zoop. Between 12-20: Fast Track, Sonata

Between 18-30: Flora, Raga, Bandhan,

Between 30-55: Edge, Nebula, Raga, Orion Above 55: Regalia, Classique, Sonata


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Gender

Men : Automatic, Octane, Orion

Women: Raga, Raga Diva, Flora, Nebula,

Heritage

Unisex: Fast Track, Xylys, Sonata

Married Couples: Bandhan


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Income

High Income:Bandhan

Upper middleIncome (4-6

lakhs): Nebula

Middle Income (2.5-4lakhs): Steel, Raga

Low Middle Income (1-2.5 lakhs):Fast Track

Low Income(1 lakh): Sonata


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Generation

New Generation : Fast Track, Technology, Flip

Old Generation : Sonata


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Social Class

1st

SEGMENT Fashion driven

Segment

Eg: FastTrack, Royale, Nebul

a

2nd

SEGMENT Fashion and Price

sensitive

Eg: Raga,

3rd

SEGMENT Highly Price sensitive

Eg: Sonata


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Personality

CATEGORISATION:

Economy category

Luxury category

Sports & casual category

Fashion category

Formal category


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Our Analysis

Rise of Titan in the domestic market has been fastercompared to that in foreign market as the former is

more stable

As import duty is high for foreign players, Titan takesthe place ofvalue for money

A significant part of the domestic market still remainsuntapped


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IV. BRAND EQUITY AND POSITIONING


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The Transition

Pioneered the concept of gifting watches

Positioned itself as a fashion accessory rather

than a time keeping device

2006 Concept of matching watches with clothes

From a watch Brand to a lifestyle Brand

2008 Re-launched targeting the segment 18-30 with

the Tagline How many do you have?


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PRODUCT PORTFOLIO


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BCG Analysis

High

Low

Business

Growth

Rate

High LowRelative

Position


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Ansoff Model

FAST TRACK

There remains a huge

potential market.

ORION,

AUTOMATIC

Introducing new products

to bring in variety

EDGE

Differentiating factor:

slimmest watch. Attracts

new market

WWF

A diversification strategy.

Capturing new market with

a new product

Current

Market

Current Products New Products

New

Market


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V. PRICING STRATEGIES


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Pricing

To tap rural and semiurban markets Sonata super fiber

Rs 3500(gift

purpose)

To tap under 18segment

Zoop Rs 300- 900

To tap the buddingluxury segment

NebulaRs 9800-

170000


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VI. DISTRIBUTION NETWORKS


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TITAN INDUSTRIES LTD

Institution

Institutionalcustomers

CSD

DefencePersonnel

WOTTimeZone

DirectDealer

RedistributionStockist

Indirect

Dealers

CUSTOMERS

Titans Distribution Network


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VII. ADVERTISEMENT & SALES PROMOTION


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Initially pioneered the concept of " Gifting watches"

Next time your husband wants to buy you a saree, ask for a Titan watch instead

Targeted the premium segment of look and fashion conscious customers

To find watches like these you dont have to go to Europe, Japan, America or a duty free

shop

Targeted the typically price sensitive yet discerning Indian customer

International watch you can pay for in

rupees

You dont need to pay in dollars, pounds

or dirhams to buy a Titan watch

Communication


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Advertising through Print

Catalogueadvertisement

became itstrademark


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Through Commercials
http://localhost/var/www/apps/conversion/current/tmp/scratch29235/Onam.flv


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Through Commercials
http://localhost/var/www/apps/conversion/current/tmp/scratch29235/wedding.flv


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-LIVE LIFE TO THE FULLEST

Through Commercials
http://localhost/var/www/apps/conversion/current/tmp/scratch29235/amir.flv


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VIII. TAPPING GLOBAL MARKETS


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Titan in the Global Market

One of the first Indian company to market aconsumer brand overseas

Present in 32 countries abroad

Among the top 3 brands in some Asian countries

Selling close to 1 Million watches yearly in

International market

Total export sales of over Rs 100 Crores

Current International sales is $27 million


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III. COMPETITOR ANALYSIS

b d


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Foreign brands competition

TITAN

Low Cost Chineseproducts andthreat from

substitutes

Swiss BrandsJapanese

Brands

TIMEX

A l


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SWOT Analysis

STRENGTHS

Impressive quality

Innovation their forte

Good retail network

Good customer serviceInternational tie ups

WEAKNESSES

Unexplored mid segment

Untapped global market

Low rural penetration

OPPORTUNITIES

Market penetration as low as

35%

Huge business in export market

People prefer different watches

for different attires

THREATS

Foreign brands

Constantly updating with changing

fashion trends


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Recommendations

To increase its visibility, Titan Company cansponsor fashion shows

Association with FM radio channels for remind

er advertisements

Introduce exclusive collection for working

women

After sales service has to be improved. Make use of internet to spread awareness

among consumers about the brand.


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