Acknowledgement

“The culmination of the project work is cornerstone in the life of any student

with the project guide being the driving force behind”. We would like to

sincerely thank our project guide Prof. Dr. B R Londhe for giving us an

opportunity to do this research project for our internal evaluation of research

methodology and whose experience and knowledge has helped us immensely

in successful completion of this project.

We are also grateful to our Institute for its guidance.

Working on this project has been a great learning experience. We are thankful

to all concerned people who have played an active role in the successful

completion of this project.

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TABLE OF CONTENTS

1.Preface 3 2.Introduction 4 3.Product Portfolio Of Titan & product range 54.Methodology Used 95.Research Design 106.Data Analysis 117.Graphical Analysis 128.Limitations of the study 139.Conclusion 1410.Questionnaire 1511.Bibliography 16

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Preface

Titan entered the watch market as a premium watch. But the unorganized sector and low priced options from HMT gave Titan serious competition. The unorganized sector grew very fast — almost 55% of the demand in the total market size of 45million watches was being met by the unorganized sector. With the import duty reduced to 25% (earlier 50%) and with the import license for watch movement being easy to obtain, many small-time players cropped up. These small players offered competition to Titan on the price front. Thus Titan launched low priced segment Sonata.

"For us, the main concern was: Does the sum of all our communication for Raga, Classique and Regalia add up to Titan? We felt it didn't besides; building each of them as separate brands is a very expensive proposition. So, instead of a multi - brand strategy here, we're going to unveil a single-brand one.

Titan has been facing a dilemma that whether it should market these brands as independent sub-brands or not, but it because of the high costs carried on with status quo but with more emphasis on segments.

It is also putting in place a strategy to tap the rural market rigorously. While has the product and the brand for this market in the form of 'Sonata', and reach in terms of distribution, but in terms of Titan they don't have the communication. Mistake companies generally make in approaching the rural market is to see as one large lump, while in reality the market is very segmented and distinct.

Titan has been the first one to build upon style, but in terms of marketing if we consider Classique or any other brand it was not targeting any particular segment initially with a focus, whether it was the youngsters or the Children. Thus there was a need to foray into these already present segments.

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Introduction

Title of the project:

“Watch the Titan”

Objective of the Project:

“Time is money”.

With fast pace of economical growth the Indian watch market has also changed from need to demand. Different brand with different technology design innovation have entered market.

The project is to give slight insight about customer loyalty to particular brand (TITAN).

Titan is a trustworthy brand in India, which pertains in all classes from lower to very high class people.

Executive Summary:

Market research is done, collected data from the customer to arrive at conclusion.

The brand image affects the customer.

What should be the future trend?

On the basis of survey conducted various finding & conclusion has been explained after analysis.

Titan utilises the celebrities in there advertisement to reach the all classes of people. It has used the VOLINE tune, which made the advertisement unique. Their ads are always full of emotion & catching the heart & attention of people.

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Product Portfolio Of Titan & product rangeSonata from Titan (Now sold under TATA) aims at the mass market and advertises itself as "a Titan watch at low price". Sonata sold an estimated 0.8 million pieces (1998-99) within four years of its launch. It is probably the largest selling sub brand from Titan. Titan entered the watch market as a premium watch but competition from the unorganized sector and low priced options from HMT forced Titan to introduce Sonata. Sonata was so successful that it cannibalized the brand from the extension’s low price connotation.

Titan's Exacta, a rugged steel watch starts at the low end of the price spectrum but offers high price versions as well. It is reportedly selling 1.0 million pieces per year because of the constant upgradation in its models.

It is difficult to categorize Titan's Royale, Regalia and Classique as premium or popular. Though they have a premium image they are available at prices less than Rs.1000. Regalia (estimated sales - 0.2 million units) is at the higher end with dress watches for special occasions. The Royale range (estimated sales - 0.6 million watches) caters to the gift segment. There is also Royale Crown in the upper end of the Royale range. Classique is an office wears accessory that is gold-plated and leather strapped (estimated sales - 1 million units). Classique watches are targeted at the older, male segment of the market, and profess timeless elegance through a combination of fine leather straps, clean classic dials and sleek cases, thus making it, " A perfect fit for formal wear." Classique is the embodiment of everything that is everlasting yet contemporary. These watches tend to be generic in their simplicity, and find no real competitors, except HMT. These watches are priced between Rs 550 to Rs 3000. Though there are very high priced watches in the above three ranges it is the relatively low-priced ones that sell. They all target the upper middle class men and women in their thirties. Royale, Classique and Regalia are the watches that gave Titan the popularity and the prestige it enjoys.

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The Spectra range in this price band is a well-designed bimetal watch ("stylishness of gold and ruggedness of steel"). It sold just 70,000 units in 1997-98. Titan Industries launched (September, 2001) its range of watches in steel, targeted at urban men and women in the age group of 25-35 years. The Titan Steel collection has a range of bracelet and leather strap watches for both men and women priced between Rs 1,250 and Rs 6,000. The range will be retailed through World of Titan, Time Zone and other retail outlets. The launch of the steel watches, available in 90 designs, will be followed by an aggressive marketing campaign.

Titan's Tanishq range initially targeted the European market with limited success. In India also Tanishq faced resistance because Indian women do not treat watches as jewellery.

The company is exploring the possibility of filling up the gap in the super premium segment. At present only Swiss brands have a presence in this niche. TIL, however, has its Nebula range for both men and women priced between Rs 6,000 and Rs 32,000. The new range is expected to higher price than the Nebula range. In fact the company's focus would be on niche segments to grow the market. By planning to launch a brand in the super premium category, Titan perhaps hopes to be present across all categories.

Titan's Raga is an interesting product concept that offered to give dials that match with designs on saris. This promise was unrealistic and Raga flopped (estimated sales - 20,000 units). Raga is now being launched in more mellow colours and its positioning changed. Raga silver watch range also did not fare well because Indian dials.

Titan Industries launched its Fastrack range of watches for women (For Men It is already present). The ladies watches are available in different finishes frosted, polished and satin and come in varied geometric shapes with trendy leather straps and classy metal bracelets. The watches retail from Rs 995 to Rs 1,950 and are attractively priced. The watches which have been designed at Titan's creative studio is the outcome of research that has highlighted the need for a watch that is fashionable, bold, unconventional and designed to accessories western wear. A collection of watches with contemporary styles

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those are young and distinctive. Designs that go from the relaxed and informal to the definitely sporty. The woman's collection presents the all-new international 'Frosted' look, which is trendy and chic. The Fastrack collection has elements like cool mesh straps and features that include backlight and dual time. Also presenting a range of fashion digitals in contemporary wrist hugging cases with oversized displays and features that include countdown timers, chronographs, lap timers, hourly chime, alarm and Hi-light glow. Fastrack goggles are one of the products of titan which is exclusively marketed by the company. It is popular amongst the youth.

Dash is Titan’s reply to Gimmix and Zap. Dash is available in 3 new collections for kids - Popeye, Digital and Lumibrite. Titan is the sole licensee of Popeye in India and this range is priced between Rs 350 and Rs 395. Giving Popeye of the spinach-eating fame the additional responsibility of keeping time, the Popeye brand of watches come in 6 different designs. The Digital range in a collection of 10 digital watches has features like El-light compass and Velcro straps for the sporty and is priced between Rs 425 and Rs 495. And Lumibrite is a glow watch that comes at Rs 325. The company has also brought out a collection of five watches for the girls, priced at Rs 295.

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Methodology Used:

Gaining knowledge about the product and services offered by titan watches

Framing a questionnaire for collection of primary data.

Mapping the city’s market for collection of primary information.

Conducting a market survey by taking the responses of the customers around the mapped markets.

Analyzing the data

Sampling method-purposive sampling

Data collection method- primary data collection by preparing a questionnaire.

Secondary data collection through the internet.

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Research Design

Type of research:

For the project, the type of research is descriptive and fundamental.

Descriptive research is an in-depth study of an entity, individual, institution,

etc. It is in-depth study of what it is, how it is, etc. Descriptive research

includes surveys and fact-finding enquiries of different kinds. The major

purpose of descriptive research is description of the state of affairs as it

exists at present.

Fundamental research is mainly concerned with generalizations and with

the formulation of a theory. With the help of fundamental research, new

theories can be derived or existing theories can be modified. The objective

of this research is just to acquire knowledge about certain things. It is

concerning human behaviour carried on with a view to make

generalizations about human behaviour and not done to aim at certain

conclusions.

Data collection:

Sample universe : BHUBANESWAR

Sample size : 100

Sampling Plan : Stratified Random Sampling

Stratified Random Sampling: Classify the population in convenient

number of groups i.e. strata. The groups should be such that within the

group, there should be homogeneity in the members and between the

groups there should be heterogeneity.

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Data Analysis

The data collected was sorted and then analyzed with the help of Microsoft

Excel. The analysis gave some important results in the key areas where the

products can capitalize on the opportunity to tap new clients. The Product has

the opportunity to develop new customer relations and increase the market

share.

The project included an in-depth study of the customer’s habits and their

current expectations from the products. The questionnaire so filled up by their

responses acts as a representative of the same. So it would be easy for the

company’s officials to pitch in to these traders while providing them the

customer services.

The data was analyzed taking into consideration the following criteria which

were the most important according to the products brand point of view.

1. Customer who is not satisfied with the brand has to focus.

2. To tap the customers who are with the habits of changing taste &

frequent switcher.

3. With high class range of watches, they have to tap the market of good

potential people.

4. With the celebrity participation in the promotion of the brand, the

brand’s reorganisation enhances & results in increase of the sale.

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Graphical Analysis

The series in the legend are the different criteria on which the data was analysed which have been mentioned above already.

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Limitations of the study:

Usually the market is indifferent to providing information about their personal likes & dislikes.

The customers are busy throughout the day. So they have to be approached tactfully so as to get the required information.

They have to be convinced about the secrecy of information and then the primary data is collected.

The customers have to be convinced about the product and so one needs to have a thorough knowledge of the product before interacting with them.

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Conclusion

Titan is the most trusted brand under the roof of TATA group.

Titan should focus on their promotion of high range products, like tanishq, Raga, etc. As promotion is not up to the mark & high class people still prefers global brands.

According to the project data analysis it found that titan has capture the 60% of the Indian watch market. In which 80% market is in low range watches.

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QuestionnaireMarketing Research of Titan

Dear People,

For the Research Methodology project we are undertaking a survey of Watches. We request your co-operation.

Sex: Male/Female Age : ______ Basic Qualification: ______

1. Which type of watch do you use?

Sports Chain Bracelet others _____________

2. which brand you are currently using ?

Titan Timex Casio others____________

3. Feature you consider while purchasing a watch ?

Warranty Quality Price Brand image Style /design

4. What level warranty of watch affects you while making a purchase ?

Priority Often Rare Not Affected

5. Does publicity of watches by celebrity affects your buying decision?

Yes No

6. Are you satisfide by the brand ou are using ?

Yes No

7. What features would you like to go for?

-------------------------------------------------

8. How often you swtiched off the brand ?

Very often Depends on mood Affordability No (Brand Loyal)

9. Given chance to change the watch which one would you go for?

Titan Casio Timex other_____________

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Bibliography

Research Methodology – Methods and Techniques

-C. R. Kothari

Research Methodology- Dr. v. p. Micahel

www.google.com

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Thank You

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