/ Presented By: Divya Sethi 08EM-016 Dhyananshu Shankar 08EM-015 Neha Shandilya 08EM-023 Vivek Sinha 08EM-056 Uday Narayan Singh 08EM-049

TITAN - Brand Titan has never actively promoted the fact that it’s parent company is the Tata Group, at the same time it has never really done much to hide the fact. Thus by capitalizing on the name “Tata”, it has been it’s own identity as an Indian brand offering high quality watches at prices significantly below those of comparable foreign brands.

About Titan Titan, a joint venture between Tamil Nadu Industrial Development Corporation (TIDCO) and the renowned Indian business group Tatas, entered the watch market in 1984 Titan Company is the unquestioned leader in Indian Watch Industry. Titan is one of the most powerful brands in the Indian market, scoring very high on brand awareness, brand image and brand preference. Titan is today the sixth-largest "manufacturer-brand" in the world, after Casio, Citizen, Seiko, Swatch and Timex of America. Titan decided that it would be the shaper of the watch industry and not an adapter. They created competitive advantage through differentiation. They clearly identified that their main competitor was not HMT, but the gray market.

Re-Emphasis 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. Titan’s first attempt at emphasizing its sub-brands didn’t yield the desired results. Instead of targeting different customer segments with different sub-brands (as is being done now), the watchmaker focused on product differentiation as the selling platform. With product differentiation being replaced by segment-based focus, Titan’s sub-brands building has got bright chances of creating an identity of their own.

Brand profile of TITAN Edge Raga Octane Zoop WWF Heritage Orion Nebula Sonata Exacta Titan Bandhan watches Spectra Dash Regalia Fastrack Royale Classique Xylus

Major Competitors HMT Maxima-quartz Rado Casio Espirit Swatch Citizen Domestic Level HMT Maxima-quartz Rado Casio International level Espirit Swatch Citizen Tag Heuer Seiko Cartier Giordano Fashion Houses DKNY Gucci Adidas Nike Bvlgary

Watch Market Map Formal / Classic Nebula XYLYS Price Fastrack Omega,Rado, Longines Raymond Weil Tissot Nebula TITAN Citizen Timex Sonata, HMT, Maxima XYLYS Price Rs 500 1000 2000 4000 5000 10000 30,000 + Espirit, Swatch Fossil Giordano, DKNY, Carrera Tommy Hilfiger Fastrack Tag Heuer Hugo Boss C Dior Fashion/Sporty

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”)

Positioning 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 ‘value- for- money’: reasonably priced (less than Swiss watches and higher than Japanese), attractively styled and of good quality.

Identifying & Establishing Brand -Titan Titan banks on Cutting edge technology that has helped Titan create value-for- money price and the result is extraordinary marketing presence in about 40 countries, with a network of some 3,500 retailers abroad and high volume of domestic presence. Till date Titan is able to single-mindedly convey a point of differentiation that strikes the consumer then whether it is in terms of price (Sonata) or extraordinary beauty (Slim “Edge” watches). But the point is that whether the strategies which Titan is following will take Titan to a position of global uniqueness: a brand which brings information and ideas together from around the world, to fulfill human needs in novel ways and still go on for profitable growth. But maybe what's required is a campaign with executional variety a TV campaign that uses attention-getting devices to drive home the message. This would require greater creative risk. But then, if the stakes are reaching gigantic proportions it's time to get one's eyes in.

Brand Audit - Laws of Branding and Titan The Law of Contraction: A brand becomes stronger when its focus is narrowed. Titan has developed for itself an image of being “time-keeping experts” in the minds of the consumers. Although it is going for the brand extension (wallets, writing instruments, luggage etc.) but still the core focus is Watch Industry. The Law of Advertising: Once born, a brand needs to actively advertise in order to stay healthy and maintain market share. If done right, advertising is more of an investment than an expense. The Law of the Word: Titan in Indian watch market seems to have done this. The Law of Quality: Though quality is essential to the survival and growth of any brand, the fact remains that brands are not built by quality alone.

Brand Audit - Laws of Branding and Titan The Law of the Name: In the long run, a brand is nothing more than a name. The difference between products is thus not so much between the products, as it is between their names, or perceptions of the names. Seeing as how its name is perhaps the most important element of a brand. First of all, the name ‘Titan’ itself comes from Greek mythology, and symbolizes greatness, grandeur and power. It is easy to pronounce, as well as to remember. Even Titan sounds more classy and sophisticated than Hindustan Machine Tools (HMT). The Law of the Company: Brands are brands, and companies are companies. There is a difference. Titan is owned by the Tata Group, who though highly regarded in Indian industry are associated more with heavy industries such as steel and truck building, than with watch making. Chances are that no one would buy a Tata watch (it’s name invoking the same, if not greater reaction than an HMT). People would, however buy a Titan.

PROMOTION Advertising Sales promotion Public relation Advertising media: Television Print Internet Titan brand ambassador: Titan Brand: Aamir Khan Sonata: Mahendra Singh Dhoni Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose Titan tagline: Be more Fast track tagline: How many you have?

Creative Advertising Aamir Effect Catalogue Advertising Created by TVC. TVC introduced in Oct. 2004. Sales soared exponentially. Catalogue Advertising Used effectively to merchandise new models. Newspaper “Cuttings”.

THANKS

INTERNATIONAL BUSINESS One of India’s 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

Retail Stores 10000 Dealers 2300 Towns ALL INDIA 177 Showrooms World Of Titan 104 Towns 119 Multi-brand-stores Time Zones 90 Towns 616 Centers Service Centers 314 Towns

SWOT Analysis 19

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. 20

WEAKNESSES Main USP is low cost watch. Lack of futuristic approach Lack of flexible thinking 21

OPPORTUNITIES Nearly 34 million watches are sold through gray market channels. Currently, sales in India stand at an low number of 25 watches per 1,000 people, compared with 250 watches per 1,000 people in a developed society. Exchanging offer Rural market 22

THREATS Too many players will dilute the market & the profit margin Low priced China watches Mobile phones. 23