INTRODUCTION

MARKETING STARTEGY

Marketing strategy is the comprehensive plan formulated particularly for achieving the

marketing objectives of the organization. It provides a blueprint for attaining these marketing

objectives. It is the building block of a marketing plan. It is designed after detailed marketing

research. A marketing strategy helps an organization to concentrate it’s scarce resouces on

the best possible opportunities so as to increase the sales.

Marketing strategy is a long-term, forward-looking approach to planning with the

fundamental goal achieving a sustainable competitve advantage

A marketing strategy is a business' overall game plan for reaching people and turning them

into customers of the product or service that the business provides. The marketing strategy of

a company contains the company’s value proposition, key marketing messages, information

on the target customer and other high-level elements.

The marketing strategy informs the marketing plan , which is a document that lays out

the types and timing of marketing activities. A company’s marketing strategy should

have a longer lifespan than any individual marketing plan as the strategy is where the

value proposition and the key elements of a company’s brand reside.

Marketing strategy is the total and unbeatable instrument or a plan shaped and

designed specifically for attaining the marketing objectives of a firm. A marketing

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mission and objectives tell us as to where we want to go and marketing strategy

provides us with the grand design for reaching out there

Importance of Marketing Strategy

 Marketing strategy provides an organization an edge over it’s competitors.

 Strategy helps in developing goods and services with best profit making potential.

 Marketing strategy helps in discovering the areas affected by organizational growth

and thereby helps in creating an organizational plan to cater to the customer needs.

 It helps in fixing the right price for organization’s goods and services based on

information collected by market research.

 Strategy ensures effective departmental co-ordination.

 It helps an organization to make optimum utilization of its resources so as to provide a

sales message to it’s target market.

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Nature of Marketing Strategies:

1. They are dynamic:

The concept of marketing strategy is relative as it is designed to meet the changing demands

of a situation. Each situation and event needs a different strategy that is why strategies are

revised and recast very frequently to cope up with the changes in a given situation or event.

2. They are futuristic:

A marketing strategy is forward looking. It orients towards future. A marketing strategy is

designed to bring out the organisation from a ditch of degression to the path of progress for

better change in the coming times.

3. They are complex:

A marketing strategy is a very complex plan impounding in its compound other plans or

firms of plans which area must to achieve the organizational goals. It is a compendium or

complex of plans within plan to out beat the strength and vitality of others in the line are

allied activities.

4. They provide direction:

Marketing strategies provide a set direction in which human and physical resources will be

allocated and deployed for achieving organisational goals in the face of change

environmental pressure, stress and strains and constraints and restraints.

5. They are all covering:

Marketing strategies involve the right combination of factors governing the best results. In

fact strategic planning warrants not only the isolation of various elements of a given situation

but a judicious and critical evaluation of their relative importance.

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Essentials of Marketing Strategies:

1. It is consistent:

A marketing strategy to be effective is to be consistent with the overall and specific

objectives and policies and other, strategies and tactics of the marketing organisation. Interval

consistency is an essential ingredient of a good strategy as it identifies the areas where the

strategic decisions are to be made imminently or in the long run.

2. It is workable:

Any strategy however laudable and theoretically sound is meaningless unless it is able to

meet the ever changing need of a situation. In this business world contingency is quite

common and the strategy that strikes at the head to contribute to the progresses and prosperity

of marketing organisation.

3. It is suitable:

A strategy is emergent of situations or environment. It is the subservient of changing

environment of business world. It is but natural that any strategy not suiting to .the

environment can impound the marketing organisation in the compounds of danger, digress

and frustration.

4. It is not risky:

Any strategy involves risks as uncertainty is certain; what is important is that the extent of the

risk involved or associated with strategy is reasonably low as compared to its pay-off or

returns. It is because; a high risk very strategy may threaten the survival of the marketing

organisation, let alone its success, if calculations go fit.

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5. It is resource based:

A sound strategy is one which is designed in the background of the available resources at its

command. A strategy involves certain amount of risk which can hardly be segregated. A

strategic decision warrants commitment of right amount of resources to the opportunity and

reservation of sufficient resources for an anticipated or “pass through” errors in such

demands of resources.

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 INDUSTRY AND COMPANY PROFILE

INDUSTRY PROFILE

The Indian watch industry began in the year 1961 with the commissioning of the watch

division of HMT. The first watch model manufactured by HMT was the Janata model in the

year 1962. HMT was the leader in the watch market till the Tata’s formed Titan Watches in

association with Tamil Nadu Industrial Development Corporation in the year 1987. They

took a major strategy decision, which later changed the face of the Indian watch market- to

manufacture only quartz watches. Liberalization in 1992 and the removal of quantitative

restrictions due to WTO has opened the doors for many foreign brands in the Indian market

viz. Tissot, Swatch, Omega, Rado, TAG Heuer, Rolex and many others. The import duties on

watches are falling which makes the Indian market look attractive for the global majors like

Casio, Swatch and Citizen.

Present Situation Of The Indian Watch Market

The Indian watch market is today of 40 million units, out which 60% is in the unorganized

sector in which the maximum number of watches are sold are below Rs.300. Quartz watches

form two thirds of the organized sector and the rest is split between mechanical and digital

watches. Even in the organized sector, three fourth of the sales by volume comes from

watches that are priced below Rs.1000.

Plastic as such is not acceptable to average Indian consumers, especially those from the small

towns and rural areas who regard it as cheap and flimsy. They want toughness- which

translates into a good quality metal model at a reasonable price.

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Watch is one of the consumer durables whose replacement rate is very high. The

replacement rate of watch is 33.8 % (Source: India market demographics report, 1998). This

is also due to the fact that the estimated scrap rate of wrist watches is 7.8%, which is

applicable after 6 years (Source: India market demographics report, 1998). So due to high

scrap rate, outdated models, and the shift from the mechanical watches to the quartz watches

is causing a very high replacement demand for watches. These along with the low penetration

levels represent the untapped market potential for watches in India.

Major Brands In India Watch Market

The major players in the Indian watch market include HMT, Titan and Timex. The other

players include Westar, Shivaki, Maxima, and SITCO. Foreign brands such as Cartier,

Piaget, Omega, Tiffany’s and Corrum, Gucci, Longines, Casio, Citizen, Tag Heuer and

Espirit are also making an inroad into the Indian market.

Titan has been consolidating its market share over the past decade. Timex watches, which

entered in India with collaboration with Titan, now independently has also gained substantial

market share.

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Segmentation of Indian Watch Industry

Based on price

1. Mass (Rs.350-600)

2. Popular (Rs.600-900),

3. Premium (Rs.900-1500),

4. Super-premium (Rs.1500-8000)

5. Connoisseur segments (above Rs.8000)

Based on user category

1. Men’s watches

2. Women’s watches

3. Youth watches

4. Kids watches

5. Sports wat

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 COMPANY PROFILE

Titan Company Limited, a joint venture between the TATA Group and the Tamil Nadu

Industrial Development Corporation (TIDCO) commenced operations in 1984 under the

name Titan Watches Limited. Titan Company is the fifth largest integrated own brand watch

manufacturer in the world. Over the last three decades, Titan has expanded and explored into

under penetrated markets and created leading brands across categories.

Titan Company Limited’s people-first approach to everything is driven by its aim to provide

elevating experiences to the people they touch. This orientation has led Titan to create iconic

time-pieces such as the confluence of the age-old art of watchmaking and technical mastery

that defines Edge; the women-first offerings by Raga which are the epitome of grace; Nebula

which is a blend of the rich heritage of Indian jewellery and the fine craftsmanship of watch

making; Octane for the confident man and Regalia for special occasions.

Titan has been known to believe in creating a Titan watch for everyone. Keeping this

objective in mind, Titan created ‘Sonata’, India’s largest selling watch brand, which has

established itself as a brand of great quality and unbeatable value for the customer. After

Sonata, Titan Company launched Fastrack in 1998 and became an independent urban youth

brand in 2005. The brand has carved a niche for itself within categories such as watches and

eyewear amongst the youth in the country. In 2009, Fastrack extended its footprint into

accessories with a range of bags, belts and wallets. Furthermore, with a license for premium

fashion watches of global brands, Titan Company repeated its pioneering act and brought

International brands into the Indian market along with its own Swiss made watch Xylys.

Titan Company launched ‘Tanishq’, India’s most trusted and leading jewelry brand. Tanishq

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has been synonymous with superior craftsmanship, exclusive designs and guaranteed product

quality. The jewellery is manufactured in a fully integrated manufacturing plant with state-of-

the-art equipment. The Tanishq retail chain currently has over 200 exclusive boutiques in

over 115 cities. Completing the jewellery portfolio is Zoya, the retail store in the luxury

segment, and most recently, CaratLane.

Titan Eyeplus, the third major line of consumer business from Titan Company Ltd, offers a

variety of differentiated products to the end consumer consisting of frames, lenses, contact

lenses and sunglasses. Benchmarked against the best in the world, Titan Eyeplus heralds

standardization in the eyewear industry.

With Titan’s recent expanse into the fragrance market in 2013, SKINN by Titan was

launched, for the urban, well-travelled Indian men and women. Designed by award winner

Master perfumers, the fine French fragrances from SKINN are manufactured and packaged in

France. Titan has also increased its portfolio with Taneira, the latest range of handloom

sarees.

Titan Company Limited has two exclusive design studios for watches and jewellery. The

Design Studio is a testimonial to the creative and innovative spirit of Titan Company and is a

cross-disciplinary amalgam of some of the most respected and skilled designers from across

the country. Creating Pioneering, user centric designs in Watches, Jewellery and Eyewear is

the core competence of the studio which makes it a unique entity in Titan Company.

Leveraging precision engineering core competencies from watch making, Titan initiated

TEAL (erstwhile PED) in 2005, catering to global majors across industry verticals like

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aerospace, automotive, oil & gas, engineering, hydraulics, solar and medical instruments.

With a retail footprint of over 1400 stores and a total retail area of over 1.8 m sq ft, Titan

Company has India’s largest specialty retail network spanning over 240 towns. Today, Titan

Company Limited is TATA’s largest consumer company, and India’s leading producer and

retailer of watches, jewellery, eyewear and accessories.

TITAN WATCHES: BRAND POSITIONING STRATEGIES

Overall strategies

Since its introduction, 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; these

strategies can also be analyzed as given below:

Attribute Positioning Strategies

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 13.a

market share. Raga, Classique and Regalia come under this strategy. Classique has been

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positioned as elegant corporate wear that leaves a quiet, but definite impression and fusion of

function and sophistication. Power dressing now has a new weapon! As Magic in gold and

bicolour look, the 'Regalia' range represents the essence of dress-wear. Raga has been

differentiated and positioned as exclusive watches for women. The Raga and Silver Raga

collection is elegant, delicate and feminine with each piece being truly unique.

User Positioning Strategies

Titan caters to several user groups- children (the Dash), sportspersons and adventurers

(PSI4000 and Fast track range). The Fast track 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”)

Benefit Positioning Strategies

The Fast track 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.

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Competitor positioning Strategies

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, and

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 & Price Positioning Strategies

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. In Indian market,

Sonata is a perfect example of Price positioning, titan came up with this segment when it was

facing heavy competition from lower end segment.

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 MARKETING MIX

The marketing mix refers to the set of actions, or

tactics, that a company uses to promote its brand or

product in the market.

All the elements of the marketing mix influence

each other. They make up the business plan for a

company and handled right, can give it great success.

But handled wrong and the business could take years to

recover. The marketing mix needs a lot of understanding,

market research and consultation with several people,

from users to trade to manufacturing and several others.

The Marketing Mix is the set of marketing tools often referred

to as the four Ps: The Product, its Price, Promotion and Place, that the

firm uses to achieve its objectives in its target market

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 1. PRICE:

As achieve our marketing our marketing objectives, we can do some change in the pricing.

The main consideration will be in changing price are followings.

A. Survival:

In case of some of the watches titan prices them according to the features .The Exacta is

a simple steel watch priced at Rs.600-1,100. As the company also deals with Spectra,

Raga through pricing policy.

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 B. Market share:

As we know that 70% of sales in watches come from the lower segment, therefore by

pricing Sonata at 350 onwards with guarantee. Titan prices its world watches which

compared equal to an international players like Calvin Klien where a customer pays 4

times as value of the world watch, therefore market with low prices to international

players to gain market share.

C Market Skimming:

In Indian watch industry there is no one offering pure gold watches, watches in pair

jewellery watches. Here Titan offers there product with the Indian touch in its design, the

product, the love.

PRODUCT:

Quality and leadership are the two main terms for the Titan. As to achieve the marketing

objectives this aspects should also be considered.

A. Product line:

To increase the sales, the differences in the prices of the watches are justified by the

features.

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B. Product pyramid:

Portfolio of Titan’s product is of 3 distinct price-range that can be defined in general,

as Popular, Mid, and Premium. At the popular segment, the emphasis is on in volumes

but not in margins. At the premium segment, the emphasis is on profits and image but

not in volumes. Obviously, company giving more emphasis at the top of the pyramid

as profits at the top of the pyramid is very high. This pyramid guided the strategy of

Titan.

C. Product strategy:

Titan was first focused only on the premium segment of the watch market. As per the

product strategy they took, Titan moved in to the mass market for watches. To widen

base, Titan created new segments and increasingly focusing on segments individually.

In the past few years Titan has took a lot of initiatives to focused on specific

segments.

D. Product Quality:

Quality and leadership are synonymous to Titan. It seeks to achieve both through their

value for products compared to their prices.

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 PROMOTION:

Promotional pricing:

A. Marketing pricing:

As by opening new shops such as the world of Titan – buy directly from the dealer and hence

the element of middleman is not there.

Here the retailer in this category buys watches for 17-18% lesser than MRP and hence they

are able to get the 17% profit margin on sales.

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It is managing to successfully convince to the customer of the perceived value of ‘WORLD

WATCH’ using hoarding all around the city, increasing buyer image, trust worthiness,

innovation, differentiation, value for the product.

Price discount and allowances: Every year Titan comes with a price discount sale on the

MRP of the watches. The allowance varies from one segment to another.

a) Creative advertising: Titan introduces a contest on cartoon network in india.com

which invites children to use creativity and design watch.

The prize winning design was launched as a new watch in summer 2002 collection.

Type of advertising: Titan believes in making its ads clean, well made, touch on emotional

chord. As the company is using celebrities or superstars that is kriti sanon for the Titan

watches.

b) Promotion on occasion: Titan is one of the company which formally believes in the

policy of promotion the product based on the occasions.

PLACE:

Keeping in mind about the young trendy and fashionable consumers, Titan distribute its

product and set up ‘world of titan’ in different region. The consumer’s life style in India,

especially in urban area (because the turnover in urban area is 210 million, while the turnover

in rural area is 90 million) plays a significant role in the success of Titan.

A. Time Zone:

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 Titan Industries brings together the country’s leading watch brands under one roof,

providing the customer with variety in brands, looks and price ranges and also

efficient after-sales service. These 1142 Time Zones located across 89 towns which

offer its customer the complete watch shopping experience.

B. Value Mart:

These outlets sell surplus stocks of Titan watches at reduced prices. By doing these it

offering fabulous value for money with the same warranty as a regular full-priced

watch enjoy. However these shops would not be placed in the main locations and not

working as a normal shops. This is to make the customer go to the shop rather than

the shop calling the customer and hence the locations are not very suitable for

shopping.

C. Sonata Stores:

A Sonata store is also an Authorized Service Centre for Sonata & Titan brands.

Sonata store meet the large scale demand for the watch and also to attract customers

in more. These shops had full stocks of the watch in demand whereas the others could

afford to maintain only limited stock.

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New Logo & Tagline – “Be More’’

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Kriti Sanon as brand ambassador :

Actress Kirti Sanon has become the brand Ambassador of Titan Watches and very soon she

will endorse the new and beautiful brand of watches. In this collection, they are featuring

beautiful story called "Own The Night" for their Moonlight collection. Earlier Katrina Kaif

was the brand ambassador for this collection. Kirti Sanon who is getting famous day by day

and has become the popular face of Tollywood and Bollywood industry has officially

replaced Katrina Kaif. According to Kirti, she is very happy after becoming the part of Titan

and currently busy in the shoot of ads which will be aired on TV very soon.

STRATEGIES

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 · Titan is also trying to reach new customer segments. They are now trying to target all

adults in socio economic classes A&B.

· Titan is also looking at innovative retail strategies and planned to launch ten

innovative product collections soon.

Table 2.Market share of the Competitor in Domestic Market:

Competitor in Domestic Market Market Share

HMT 19%

Maxima 13%

Rado 7%

Casio 3%

The strongest selling point of Titan is that it is available and affordable. Titan provides

watches for all segments, like from low-cost Sonata for first time user, Fast-track for the

trendy young, Dash for the kids, and the higher priced Regalia and Nebula to the premium

segment customer.

The Indian watch market is estimated at 25 million watches a year, where the domestic sale is

6 million watches per annum. The rural segment is the diverse market in the present scenario.

The key success story of Titan is capturing the rural market on a large scale. The range cost is

between Rs. 495 to Rs. 1200. And the model is available exclusively in all showrooms and is

sold mainly in small-town in India.

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 OBJECTIVE OF THE STUDY

1. To review the brand positioning strategies of different sub-brands of Titan watches.

2. To analyze the brand repositioning strategies of Titan watches.

3. To study consumer awareness and perception about the brand repositioning Strategies

of Titan watches.

4. To recommend suitable measures to be taken by the Titan Company to further

Improve its brand perception and loyalty among its customers.

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 SCOPE OF THE STUDY

 To determine the total profit and loss of the company throughout the year.

 To see how the firm runs in today’s competitive market.

 To see the companies marketing strategies aloe it to run smoothly in the market.

 To see how the firm can deals with its employees and its customers respectively.

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 RESEARCH METHODOLOGY

The purpose of methodology section in the report making is to describe the research process

that is followed while doing the main part. This would however include the research design,

the sampling procedure, and the data collection method.

DATA COLLECTION

Primary data: Data was collected through an interview schedule, consisting of both open

ended and closed ended questions.

Secondary data: Information that already exists somewhere, having been collected for

another purpose sources include census reports, trade publications, and subscription services.

Data that have already been collected and published for another research project. There are

two types of secondary data internal and external secondary data.

Sampling Procedure

A sample of 50 consumers who are brand loyal to Titan watches since more than a year and

in the age group of 20 – 30 years have been considered for this study.

DATA ANALYSIS INTERPRTATION

1. Which sub-brand of Titan watches do you possess?

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 Table No1: Titan sub-brands possessed by respondents

S.NO. Sub Brands Percentage

1 Fastrack 72

2 Sonata 14

3 Raga 6

4 Nebula 4

5 WWF 2

6 Edge 2

Data Analysis: Titan sub-brand owned

This was a multiple choice question where respondents were asked to choose sub-brands of

Titan which they possess. It was found that around 72% of the consumers in the age group of

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20-30 years possess Fastrack brand, 14% Sonata, 6% Raga, 4% Nebula and only 2% own

WWF and Edge.

2. Since how many months / years have you been using Titan watch?

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 Table No2: Period of Titan watch’s use

S.NO. Period Of Usage Percentage

Years %

1 2008-2011 64

2 2011-2013 24

3 2013-2017 12

Figure 2: Period of Titan watch’s use

Data Analysis: Period of use

The respondents were asked to mention since how long they have been brand loyal to Titan.

This was an open ended question and hence various responses were received. The minimum

period of use was set as one year, as mentioned earlier, while the maximum period of use was

determined. For convenience, the different responses are categorized into three: 2008year –
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2011years, 2011years – 2013years and 2013years – 2017years. 64% of the respondents fall

into first category, i.e., they are using Titan watch in the range of one to four years. 24%

respondents are in second category and the rest 12 % are using it for more than seven years.

Q3.Why do you prefer Titan brand?

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 Table 3: Reasons for brand preference

S.NO. Reasons No. of respondents

(out of total 50)

1 Attractive designs 39

2 Reasonable Price 7

3 Brand image 22

4 Good quality 25

Figure 3: Reasons for brand preference

Data analysis: Reasons for brand loyalty

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The respondents were asked to select the reasons from the options given for their preference

for Titan watches. For this question, multi-responses were received.

4. Do you remember the original tagline of Titan watches? If yes, please mention.

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 Table No 4: Recall of Titan’s original tagline

S.NO. Recall of Titan’s Tagline Percentage

1 YES 22

2 NO 78

Figure 4: Recall of Titan’s original tagline

Data Analysis: Recall of Titan’s tagline

Titan’s tagline, before brand repositioning exercise has been undertaken, was

“What’s your style”. This tagline was adopted during first rebranding exercise in 2004.

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The respondents were asked to indicate whether they remember the tagline in dichotomous

way, i.e., as “yes” or “no”. It was found that only 22% of the respondents were able to recall

the tagline and the remaining 78% answered in negative.

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5. Have you seen the advertisement of Titan watches? In which media have you seen the

advertisement?

Table No.5 Major Advertisement media

S.NO. Major Advertisement Media No. of respondents

(out of 50)

1 TV 46

2 Magazines 25

3 Newspaper 36

4 Hoardings 15

5 Radio 4

Figure 5: Major Advertisement media

Data Analysis: Titan’s advertisements

Titan advertises its watches in almost all media vehicles. The advertisements can be seen in

TV, magazines, newspaper, hoardings, billboards, radio and so on.

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All the 50 respondents have seen the advertisements of Titan watches in various media. This

was a multi-response question and the options given to select were restricted to TV,

magazines, newspapers, hoardings and radio.

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6: Awareness of brand ambassador

Table No 6: Awareness of brand ambassador

S.NO. Awareness of Brand Ambassador No. Of Respondents

(out of 50)

1 Don’t know 4

2 Correct responses 46

Figure 6: Awareness of brand ambassador

Data Analysis: Brand Ambassador of Titan

Kriti Sanon is the brand ambassador of Titan. When the respondents were asked to recollect

the same, it was found that 46 of 50 sample size were able to correctly mention the brand

ambassador while the remaining 4 did not give any response implying that they are not aware

of it.

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7. Are you aware of the new tagline of Titan?

Table No 7: Awareness of new tagline

S.NO. Awareness of new Tagline Percentage

1 Aware 36

2 Not Aware 64

Figure 7: Awareness of new tagline

Data Analysis: Awareness of new tagline – “Be More”

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The survey has revealed that less than half of the total numbers of respondents are aware of

new tagline. 36% of the respondents could correctly mention the tagline while the rest are not

even aware that Titan has adopted major rebranding strategies last year.

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8. How do you rate the new designs of Titan?

Table No 8: Consumer perception of new designs

S.NO. Consumer Perception No. of Respondents

(out of 50)

1 Poor -

2 Average 4

3 Above Average -

4 Good 39

5 Excellent 7

Figure 8: Consumer perception of new designs

Survey Analysis: New designs of Titan

Titan has launched several new designs in 2008 in its existing collections and as per its plans

introduced new product collections also. The respondents were asked to rate the new designs

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as “poor”, “average”, “above average”, “good” and “excellent”.7 respondents feel that their

designs are “excellent”, 39 have rated them as “good” and 4 have rated as “average”.

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9. Have you seen the new campaign of Titan?

Table No 9: Awareness of new campaign

S.NO. Awareness Of New Campaign Percentage

1 Aware 50

2 Not Aware 50

Figure 9: Awareness of new campaign

Data Analysis: New Campaign of Titan

The survey has revealed that the percentage of respondents who have seen the new campaign

focussing on “be more” is 50%.

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10. Do you think the new advertisement is effective in inspiring consumers to have a

new look everyday and be more in lives?

Table No 10: Consumer perception of new campaign

S.NO. Consumer Perception Of New Campaign No. Of Respondents

(out of 25)

1 Not at all effective -

2 Effective 16

3 Highly Effective 9

Figure 10: Consumer perception of new campaign

Survey Analysis: Rating of New Campaign

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The 50% of the respondents who have seen the new campaign were asked to rate it with

respect to how effective the campaign is in inspiring consumers to have a new look everyday

and be more in lives.

The respondents were asked to rate it as “not at all effective”, “effective” and “highly

effective”. 16 out of 25 respondents consider the new campaign to be “highly effective”

while the remaining 9 rated it as “effective”

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SWOT ANALYSIS

A. Strength

1. Style:

Titan first introduced the ‘style’ concept in India and projected the watch as a fashion

accessory. Now a day’s style is a very much evident factor among the youth. And there is a

craze for stylish wristwatch. So, Titan makes the peoples life more glorious by making stylish

wristwatch.

2. Models:

As Titan offers the best and the biggest range to customer to choose the watch of their choice

with an affordable price.

It offers about 14 different names with about 1000plus different varieties with a watch for

literally everyone.

3. Exclusive products:

Today Titan holds the pride for say that its products both within the country and

internationally running in battle position. Its EDGE the slimmest watch in the world position.

Other than these there have few more strength like-

Contribution of owned brands and retail. The profit is accounted by being in the retail space

which is booming.

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Watches are available with popular functions like dates, multifunction and chronographic.

Guarantee/warranty

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B. Weaknesses

1. Pricing:

The average price of Titan in mid-price segment is very high than the other competitor.

Average price for Titan is Rs.1100 while the price for HMT is Rs.550. In the mid-price

segment the company is not performing up to the mark due to the lack of choice of

consumers.

2. Market share:

As the average price of Titan wristwatch is far more than the other competitor, Titan has

less market share. The market is more demonstrate by middle class people and for them

Titan is quite costly. Among 75% market share in mid-segment. Titan market share is

between 18-20% which is far lower than HMT and Maxima.

3. Globalized:

As the company is Indian based which leads it to the strength, where as it is the weakness

also because the company not sufficiently globalized.

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C. Opportunities

1. Seasonality:

At the time of festival, like Diwali Titan promotes Nebula, Bandhan because there is

demand for the products.

- Gold watches and pairs are the like as a wedding occasion.

-The fast track brand is promoted in month of June-August when schools and colleges re-

open.

2. Gifting concept:

Titan started as a brand which was associated with gifting and relation. The fight

concept sells well for people have come to associate Titan with love care and makes

emotion run high.

3. Exchanging offer:

The Titan stores offer exchange offer of any old watch, of any make, in any condition

functional or otherwise and receive a flat discount of 25% on their purchase of a

brand new, stylish and technologically advanced watch from Titan.

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D. Threats

1. Competitor:

As we know that lots of foreign brands are entering in our country with their branded

watches. As the removal of quantitative restrictions on import watches leads to threat

to titan.

2. Premium segment:

As in premium segment Titan is getting threats from reputed international brand such

as Espirit, Swatch and Citizen.

3. Mobile:

Now a day’s people can get the time and the other feature in mobile phone. So, the

need of wristwatch is in decreasing trend. People can talk and see the time in a cell

phone and some people think that there is no need of wristwatch.

4. Marketing Objectives:

Titan industries in watch hold 70% in domestic level and 60% in Share in organized

sector market. Companies the marketing objectives is to increase in market share by

5%.Before implementing the of marketing strategies we must have to focus on certain

things, which include the BCG Matrix representation.

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A Titan industry has registered an Income of Rs.1, 104.85 crore as compared to previous year

which was Rs 7, 25.11. In all the income the Titan industry had contributed Rs.3, 03.45 crore.

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 FINDINGS OF THE STUDY

 72% of the respondents in the age group of 20 – 30 years possess fast track watch.

This shows that the positioning strategy of these watches has been good.

 Most of the consumers prefer Titan watches for their attractive designs and good

quality. However, there is a misconception about pricing of Titan products among the

consumers. They perceive them to be high priced.

 Logos and taglines are rarely noticed by the watch consumers. Hence, any change in

them also goes unnoticed.

 Advertisement in mass media such as television, newspapers, and magazines are best

means to spread awareness about brand.

 Celebrity endorsement of watches not only increases the visibility of the product but

also gives an assurance to the consumers that it is of high quality.

 Titan watches’ designs are rated as “good” by 78% of the respondents. This indicates

that they are looking forward for more innovative designs to be introduced by the

company.

 Only 50% of the respondents have seen the new campaign launched by Titan watches

in July 2008. This implies that the reach of the campaign in six months has been to

more or less half of the consumers. However, those who have seen the new campaign

consider it to be effective in conveying the message it intended to deliver, i.e., to “be

more” in lives.

 The after sales service and behavior of sales personnel have been given low ratings

compared to other variables mentioned in the questionnaire with respect to Titan’s

exclusive showrooms.

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 CONCLUSION

 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 designs launched by the company get noticed by

different segments of the customers in varied ways.

 Tie up with FM radio channels for reminder advertisements and informing

customers about various sales promotion offers from time-to-time.

 Introduce exclusive collection for working women which is more

contemporary and complements both traditional and western wear.

 Majority of the population in India live in rural areas. So, showrooms should

be set up at places nearer to them. Introduce cheaper and rough use watches

for this segment.

 Tie up with international watch brands and make them available locally.

 Make use of internet to spread awareness among consumers about the brand.

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 RECOMMENDATION

 Introduce more trendy and innovative designs

 Focus on niche markets such as working men and women

 Spread awareness about availability of watches in lower segments as most of the

consumers feel that Titan brand is synonymous with premium watches

 Take steps to change consumer perception that Titan watches are high priced.

 Improve after sales service.

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 LIMITATION OF THE STUDY

 The responses of the consumers may not be genuine.

 The questions included in the questionnaire may not be comprehensive.

 Continuous and reliable information was not available.

 Some of the information was confidential so much information was not revealed.

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ANNEXURE

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 QUESTIONNAIRE

1. Which sub-brand of Titan watches do you possess?

a) Fast track

b) Sonata

c) Raga

d) Nebula

e) Others, please specify

2. Since how many months / years have you been using Titan watch?

a) Two year

b) Three year

c) Four year

d) Five year

3. Why do you prefer Titan brand?

a) Attractive designs,

b) Reasonable price

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c) Brand image

d) Good quality

4. Do you remember the original tagline of Titan watches? If yes, please mention.

5. Have you seen the advertisement of Titan watches? In which media have you seen the

advertisement?

a) TV

b) Newspaper

c) Magazines

d) Hoardings

e) Radio

6. Who is the brand ambassador of Titan watches?

a) Kriti sanon

b) Akshay kumar

c) Salman khan

d) shahrukh khaan

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7. Are you aware of the new tagline of Titan?

a) Aware

b) Not aware

8. How do you rate the new designs of Titan?

a) Poor

b) Average

c) Above Average

d) Good

e) Excellent

9. Have you seen the new campaign of Titan?

a) Yes b) No

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10. Do you think the new advertisement is effective in inspiring consumers to have a new

look everyday and be more in lives?

a) Not at all effective

b) Effective

c) Highly effective

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 BIBLIOGRAPHY

BOOKS:

 Marketing Management – Philip Kotler

 Special Studies in Marketing- Romeo S. Mascarenhas

WEBSITES:

 www.titanwold.com

 www.tata.com/titan

 www.google.com

MAGAZINES:

 OUTLOOK BUSINESS (FEB, 2009)

 BUSINESS STANDARD (April-July 2009)

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