COMPANY PROFILE

6.1 Overview:
Titan Industries was established in 1984 as a joint venture between the Tata Group
and the Tamil Nadu Industrial Development Corporation. The company brought about a
paradigm shift in the Indian watch market, offering quartz technology with international
styling, manufactured in a state-of-the-art factory at Houser, Tamil Nadu. Leveraging its
understanding of different segments in the watch market, the company launched a second
independent watch brand-Sonata, as a value brand to those seeking to buy functionally styled
watches at affordable prices. In addition it focused on the youth with its third brand
Fastrack. It has also premium fashion watches by acquiring a license for global brands such
as Tommy Hilfiger and Hugo Boss, while. It has also in its portfolio its first Swiss Made
watch brand Xylys.
In 1995, the company diversified into jewellery under the brand Tanishq to
capitalize on a fragmented market operating with no brands in urban cities. In 2005, the
company launched its second Jewellery brand, Gold Plus, for capitalizing on the opportunity
in small towns and rural India.
The company has now diversified into fashion Eyewear by launching Fastrack EyeGear sunglasses, as well as Prescription Eyewear. The Company leveraged its manufacturing
competencies and branched into Precision Engineering Products and Machine Building from
2003.
Today Titan Industries is India's leading manufacturer of watches and jewellery
employing 3,800 people. Titan and Tanishq are among the most admired brands in their
categories.

6.2 PRODUCTS:
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The company manufactures over 8 million watches per annum and has a customer
base of over 80 million. It has manufacturing and assembly operations at Hosure, Dehradun,
Roorkee and Baddi in Himachal Pradesh and an ECB plant in Goa. Its main products are:

1. Watches: Currently manufactures four main watch brands viz.

Titan for the premium segment,
Fast track focused on the youth and trendy fashion space,
Sonata for the mass market and
Xylys for the premium market.
The Titan brand architecture comprises several sub-brands, each of which is a
leader in its segment. Notable among them are:
Titan Edge The world's slimmest watch which stands for the philosophy of
"less is more";
Titan Raga the feminine and sensuous accessory for today's woman,
Nebula - crafted in solid gold and precious stones and several other
collections like Wall Street, Heritage, Regalia, Octane, Orion, Diva, Zoop,
WWF and the Aviator series, all of which form a part of the Titan wardrobe.
Sonata is today India's largest watch selling brand and is priced between Rs
295/- and Rs 1200/-.
The company's first Swiss Made watch Xylys is for the hi-end connoisseur
and new age achiever. It also markets Tommy Hilfiger watches under a
licensing arrangement and is introducing Hugo Boss. Today, the Titan
portfolio has about 65% of the domestic market share in the organized watch
market.
The company has 225 exclusive showrooms christened 'World of Titan', making it amongst
the largest chains in its category. Titan watches are sold through over 12,000 outlets in over
2,500 cities and internationally in over 30 countries, primarily in the Middle-East and Asia
Pacific

2. Jewellery: Tanishq is India's largest and fastest growing jewellery brand with a premium
range of gold jewellery studded with diamonds or colored gems and a wide range in 22kt
pure gold. Platinum jewellery is also a part of the product range Tanishq is one of India's
largest specialty retailers and is transforming the jewellery market in India 102 boutiques
in 72 cities across the country. Gold Plus' is the recent retail offering for the mass market
with plain gold jewellery selling through 19 stores in 19 towns. The jewellery division has its
own design studio.

3. Eye wear: Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and has
sunglasses under Fastrack brand and prescription eyewear consisting of Frames, Lenses,
Sunglasses, Accessories and Contact Lenses of in-house brands and other premium brands.

6.3 PRECISION ENGINEERING

The company's Precision Engineering Division supplies precision components to the
avionics and the automotive industry. It also manufactures dashboard clocks as OEM to car
manufacturers in Europe and America. The division also provides fully integrated
Automation solutions

6.4 AWARDS
The company has been awarded the following distinctions:

Being named the No.1 Brand in the Consumer Durables category in the "Brand
Equity" Survey of The Economic Times, a leading Indian financial daily.

The Titan Design Team won the Young Design Entrepreneur of the Year award at the
design awards instituted by the National Institute of Design and Business World, a
leading Indian magazine. The team has won 7 accreditations also.

Both Titan and Tanishq have been adjudged "Most Admired Brands" as well as
"Retailer of the Year" by Images Fashion Forum in consecutive years.

Retail Asia and Media Magazine Singapore adjudged Titan Industries as amongst
the leading Retailing Companies in India.

Titan has won the Brand Leadership award at the India Brand Summit. The Time
Products Division of the company was awarded the JRD QV Award in 2006.

ADVERTISING 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
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.
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.

4.7 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.

TITAN WATCHES: BRAND REPOSITIONING STRATEGIES

5.1 New Logo & Tagline Be More

Titan Industries decided to revamp its flagship watch brand, Titan, with the intention of
making it more youthful and relevant to the changing times. The brand, launched more than
24 years ago, has undergone a major repositioning exercise only once before five years ago,
when Hindi film actor Aamir Khan was appointed brand ambassador. What followed later
was the Whats Your Style? campaign, which tried to increase watch consumption per
person, by suggesting the use of different watches for different occasions.
Beyond Style
Now, Titan wants to move from style statements to personality statements. According to
Harish Bhatt, chief operating officer, watches, Titan Industries, a watch ought to denote the
wearers mood and personality. With the explosion of options in a persons life, our core
consumer is changing. And to keep up with them, Titan has evolved too, he says. On the
adoption of Be More, Bhatt says that that statement is supposed to denote the aspirations of
consumers to make more of their lives and be whatever they want to be. The watch allows
for such imaginative travels, he says.

Titans agency, Ogilvy India, has devised a campaign featuring Aamir Khan that encourages
people to find a new strand of their personality every day. It all started with a logo change a
few months ago (the same font in a red and white combination), followed by a campaign
rolled out now.
The ad film opens on a shot of Aamir Khan sitting alone on a roller coaster, stating, Be born
every day. Next, he is seen chasing the shadow of an aircraft on a beach, then, sitting beside
a truck driver, in the middle of nowhere, with a trail of chassis trucks behind him. Here, he
asks the viewers to try the adventure of getting off at an unknown station, of exploring
unknown lands.
As he crashes his vehicle while go-karting, Khan waves to the others around him,
while his voiceover explains the importance of making ones own mistakes. Further on, he
talks of not making your passport photos last longer than three months you need to
constantly reinvent yourself and adopt a new look every day (cut to shots of Khans varied
hairstyles and looks in his movies, shown in an ambient way through posters and T-shirts).
Shock your reflection! says Khan, as we see him with funny accessories framing his face.
The next vignette has him practicing meditation while slyly checking out a girl walking past
(Explore). Cut to a shot of children, with Khan explaining how we aspired to be different
people as kids lets revive that aspiration today. Wearing amour (sword and all), Khan
Reiterates, Be Born, Every Day. Titan. Be More.
Malvika Mehra, group creative director, Ogilvy & Mather Bangalore, says, Be More
pushes people to live many lives in one. We want to trigger people into questioning, Why
should we be single minded and boring? Time to be multi-faceted, just like Titan!
Khan fit the bill as Ogilvy borrowed from his own life and work and his need to constantly
experiment and reinvent himself. Be it Mangal Pandey or Lagaan or Dil Chahta Hai, Aamir
always manages to look different in every role, explains Mehra. So we showed him doing
things that were spontaneous, such as exploring places or go-karting. The idea, simply put,
is to live life to the fullest with Titan being the instrument of such expressive liberation.

5.2 The Ad Making Aamir Khan:

The ad was directed by Prasoon Pandey of Corcoise Films; this is Pandeys third Titan
film, the earlier two involved Khan and his assistant, played by the late Vihang Nayak. The
first film had Khan confused about which watch to match with each outfit hes packing
before a trip, while the second film showed him delighting a girl in a mall with a watch. This
third film has a much stronger script than those two, shrugs Pandey. Its about bringing a
mindset onto the screen with a better celeb-brand marriage.
Shot entirely in Chennai, the film has been shot in a way that suggests that multiple
locations were used for the shoot, as opposed to one city. We had fast paced shots to spread
the look of the film, says Pandey. When asked why Chennai, he quips, Because it was
Raining in Mumbai then!
Several layers were added to the film. To show the aspirations of children, a young
girl was shown staring at an object and, later in the frame, you see the object is a butterfly
the girl wants to fly.
Kids are freer in their thinking than adults and we hope this has been portrayed,
Pandey says. Even the last frame of the ad, which has Khan dressed as a mock warrior (with

an impromptu utensil serving as his helmet), was made to look like the man had made use of
things lying nearby in a spontaneous way.

5.3 Titan Raga Signs Katrina Kaif As Brand Ambassador 2012:

September 20th, 2011:

Aiming to widen its appeal amongst Indian women, Titan, Indias most preferred
watch brand, today announced their association with Bollywoods most beautiful and
charming Diva, Katrina Kaif. Ms. Kaif has been signed as the brand ambassador for their
exclusive womens watch brand, Titan Raga.
Incepted in the year 1992, Titan Raga has won the hearts of millions. Designed
exclusively for women, these exquisite and elegant timepieces perfectly capture the essence
of beauty, femininity and sensuality. The brand has grown over a period of time in sync with
the evolving tastes of the contemporary Indian woman.
Mr. Ajoy Chawla commenting on the brand said, Driven by continuous launch of
new designs and collections, Raga has witnessed a 27% CAGR in the last 5 years and will be
Rs.400 crore brands this year! However, the potential in the womens segment is still huge as
watch penetration even amongst SEC A/B women is still very low. A brand ambassador will
help to make the watch a desirable accessory amongst women.

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Further talking on their association with Katrina, Mr. Chawla said, Titan Raga
stands for beauty, femininity and sensuous self expression. While embodying these core
values, Katrina also symbolizes the changing face of the successful, graceful and
contemporary Indian woman.

Talking about her association with the brand Katrina Kaif said, (Smiles) Titan needs no
introduction, this vibrant and up-to-the-minute brand has been touching our daily lives in
the most beautiful way possible. It gives me immense pleasure and satisfaction to be
associated with the most popular and only womens watch brand in the country. Besides
being a timekeeper that helps me keep up with my busy schedules, it also adds to my style
quotient. I feel watch designs from Titan Raga are truly exclusive and contemporary. I am
really looking forward to the exciting days ahead with the iconic brand Raga, which
embodies beauty, sensuality and femininity with great creativity.
As a brand ambassador of Titan Raga, the renowned actress will play a key role in
shaping brand communication on television, print, outdoor and other media.

5.4 New Collections and Designs:

1. Sonatas sub-brand:
Sonata has launched the Yuva 2008 collection, a series of colourful watches. They
are available in both casual and formal styles to complement the young, new look for college
or office wear.
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The collection has watches for both men and women at price s starting at Rs 645.
They are available in both gold and steel looks, with both metal and leather straps. Sonata,
the watch brand from the Tatas, launched the Super Fiber, targeted at the sub-Rs 500 market
in urban, semi-urban and rural India.

The watches have been designed primarily for youth in the 16-30 age group, and will be
available in a price range of Rs 275 to Rs 550. The tag line for this sub-brand is Super
Strong, Super Style.
The company announced 360-degree marketing campaign for the new offerings. It
also unveiled its TV commercial featuring Indian ODI captain Mahendra Sing Dhoni, in a
brand new avatar.
2. Titan Raga Hazel Collection
Titan Raga has launched the Hazel collection, inspired by the hues of nature. Priced
between Rs 2,195 and Rs 4,000, this range comprises five styles with versions in gold, steel
and bi-metal finish. They are available as bracelets and kadas with textured or patterned look
and mother-of-pearl dials.
3. Octane
Titan has launched the Octane collection of chronograph, multifunction and
retrograde watches for the urban man. The range is described as blending style and
technology. The collection has over 35 styles and is priced between Rs. 5,000 and Rs 7,500.
4. Nebula Celeste
It is a limited edition collection of jewellery timepieces. They are crafted in 18k white
and yellow gold. Prices range from Rs. 6 lakh to Rs. 12 lakhs.
5. Raga Crystals
Titan Industries Ltd has unveiled its new Raga Crystals collection of watches in
Kerala. The two new watches, called Venus and Fairy Dust, are available in yellow metal and
bi-metal versions. Venus is priced at Rs 4,450 and Fairy Dust at Rs 4,750.

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6. Titans Stambha
A new ladies Heritage wrist watch Stambha signifying fame, prosperity and good
luck was unveiled as part of Heritage collection. Mr.Vijesh Rajan, Regional Sales Manager
(South), launching the watch collection, said that plans are on the anvil to launch one new
collection every month, reflecting the 3000-year old art and cultural history of the country.
A sale of around 7,500 watches has been fixed as a target for this fina ncial year in the
Heritage collection, he added. The prices in the collection range between Rs 5,000 and Rs
10,000.
7. Nebula Zeus
It is a mechanical automatic watch in solid gold for men. Priced at Rs.1, 10,000, the
limited edition watch (500 pieces) harks back to an older era of luxury and romance.
The Nebula Zeus watch has been crafted using Swiss made mechanical automatic
movement with gold finish and a sapphire crystal back cover. Other features include an
instant start, a second hand stop device for accurate time setting; 42 hours reserve powers and
auto wind convenience. The watch collection was launched by singer and actor, Vasundhara
Das.
8. Raga Shimmer
It comprises of a collection of exquisitely designed studded watches that complement
both Indian-wear as well as Western-wear. Priced between Rs 2,995 and Rs 4,495, the new
collection comprises watches in gold, steel and bi-metal finishes.
9. Raga Diva
An exquisite range of watches for women in the Kerala market. Inspired by traditional
Kundan work, this collection has been rendered in a delightfully contemporary form. It is
priced between Rs 4,000 and Rs 10,000.
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10. Titan Nebula Duet Collection

Titan Nebula, the premium 18K gold watch brand from Titan, today launched the
Duet collection three pairs of specially crafted gold watches for the wedding season.The
most premium collection for this wedding season was unveiled by popular actor Gul Panag.

OTHER STRATEGIES

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.

5.5 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.

14

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.
Though, The Company faced enormous challenges from its big list of competitor, the
company still in the number one position in domestic market because of the weakness of the
competitor. The company becomes more reliable and more acceptances to the consumer
because of its marketing mix. The company has adopted the new marketing innovation to
improve the feature of the product by time to time.

Though the current financial environment is not in favor, but the company performing well
and saw an increasing trend in the profit chart.
The company trying hard to convert its weakness into strengths and threats into strengths and
threats into opportunities by bring revolution in the product style, model, features, pricing
policy, product quality, etc.
Companies certain initiatives and policy such as new innovative design, guarantee, the
research and development, wide dealer network, committed service team, discount and offers
make the company.

15

TO FIND OUT THE BRAND PREFERENCE FOR WATCHES

Environment Analysis:
The Marketing Environment:

A.

Competitive Forces

Major Competitor
There are lots of competitor in wrist watch segment which directly or in directly affecting the
titan watches industry. The major players are Domestic Level:

HMT

Maxima-quartz

Rado

Casio

International level:

Espirt

Swatch

Citizen

Seiko

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 Fashion Houses:

Dkny

Gucci

Adidas

Nike

Among all these competitors, Maxima-quartz and HMT are major players .The strength and
weakness of the companies varies from segment to segment

Industrys Role
As there have many competitor exists in this Industry, the competition is too much. Whenever
any company bring changes in its marketing mix, all the companies also implement changes
in their marketing mix to sustain in the competition. By that the structure of whole industry is
changing and affects the competitive forces in the Industry.

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MARKETING MIX:

PRICE

PRODUCT

PROMOTION

PLACE

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.
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:
18

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.

2. 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.

B. Product pyramid:
Portfolio of Titans 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.

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D.Product Quality:
Quality and leadership are synonymous to Titan. It seeks to achieve both through their
value for products compared to their prices.

3. 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.
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 Amir Khan 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.

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4. 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 consumers 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:
Titan Industries brings together the countrys 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.
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These shops had full stocks of the watch in demand whereas the others could afford to
maintain only limited stock.

CONSUMER BUYING BEHAVIOR:

Cultural
Social
Culture

Reference group

Personal

Subculture

Family

Age and life-

Social Class

Roles and

cycle stage

statuses

Occupation
Economic
circumstances
Lifestyle

Psychological
Motivation
Perception
Learning
Beliefs and
attitudes

Personality and
self-concept

A. Cultural Factors

Value, perception, and preferences

Nationalities, religion, race, geographical regions

Social class

B.Social Factors

Reference Groups Social Class

Roles & Status

C.Personal Factors

22

Buyer

Economics Circumstances

Occupation

Age & Life Cycle Stage

Lifestyle

Personality and self-concept

D.Psychological Factors

Motivation

Perception

Learning

Beliefs and attitudes

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STP ANALYSIS
The STP Process:

SEGMENTATION:
Dividing the market by grouping the customer with similar tastes and preferences into one
segment is called is called segmentation.
Segmentation help marketers understand the needs of different customers better and serve
them with better value propositions.
A market comprises of different consumers possessing innumerable tastes and
preferences. Depending on their marketing approach and the nature of the products marketers
can adopt different level s of segmentation. The levels of market segmentation are:

Segment Marketing
24

Individual Marketing

Niche Marketing

Local Marketing

A)

SEGMENT MARKETING:
Marketers target more than one segment when it is not economically feasible to
design products and services for individual segments. The focus of segmenting the
market will be on providing enhanced service to the customer by offering customized
products that will satisfy the needs and wants of customer in that particular segment to
a large extent. Segmentation is also sometimes identifying, capturing and retaining
potential new markets.
TITAN PERSPECTIVE
Titan has segmented its business into three main categories:

Mass

Mid-premium

luxury

B) INDIVIDUAL MARKETING:

Individual Marketing is the extreme level of segmentation in which marketers focus

on individual customers.
TITAN PERSPECTIVE
Titan has not applied this for its marketing.
C) NICHE MARKETING:

A niche is more narrowly defined group, typically a small market whose needs are not
well served. Marketers usually identify niches by dividing a segment into sub
segments or defining a group seeking a distinctive mix of benefits.

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TITAN PRESPECTIVE
In a study conducted to study the customers of watch market, it is revealed that 42%
of them are youth. So, TITAN tried to target this by:

introducing FAST TRACK

price offering from Rs 500(affordable)

watches with style statements

D) LOCAL MARKETING:

Marketing programs being tailored to the needs and wants of local customer groups.
The prominence of local marketing has also become very dominant.
TITAN PERSPECTIVE
All the products of TITAN are addressed to all the customers as a whole. Localized
products are not available. But some products which are available in UK have some
pictures of eminent personalities on their Dial like M.K. Gandhi, Mr. Jawaharlal
Nehru, etc. so that the customers can identify the product with those dignitaries.

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CRITERIA FOR SEGMENTING CONSUMER MARKET:

Markets are mostly segmented on the basis of geographic, demographic and psychographic
factors:
Geographic segmentation:
It calls for dividing the market into different geographic units such as nations, states, regions,
countries, and cities.
Demographic segmentation:
In this the market is divided into groups on the basis of variables such as age, family, size,
life cycle, gender, income, occupation, education, religion, race, generation, nationality,
social class. These variables are the most popular basis for distinguishing customer groups.
The following are some of the demographic variables used to segment the market:

Age and life cycle stage: Consumer wants and preferences change with age.
These tastes and preferences are not constant and change with time.

TITAN PERSPECTIVE
Titan markets its products for all following age groups:
a) For the age group 12-20, brands like TIMEX, Sonata, etc.
b) For the age group 18-30, brands like FAST TRACK, TECHNOLOGY, SONATA, etc.
c) For the age group 30-55, brands like SONATA, NEBULA, RAGA, STEEL, REGALIA,
BANDHAN, etc.

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GENDER:
Gender segmentation has been applied to clothing hairstyling cosmetics, wristwatches,
magazines etc. There are certain brands, which are positioned exclusively for a specific sex.
TITAN PERSPECTIVE
Titan markets its product across:

Sex (steel, regalia, nebula, fast track, technology, sonata, edge, flip)

Gents (flip)

Ladies (raga)

Married couples (bandhan)

INCOME:
Marketers tend to segment product and services on the basis of income groups. Nowadays,
companies have recognized the potential of lower end income groups and have started
targeting them.
TITAN PERSPECTIVE
Titan offers its products with a price range to suit the different income groups such as:
- Below Rs 500
- Between Rs (500-1500)
- Between Rs (1500-3000)
- Between Rs (3000-5000)

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- Between Rs (5000-10000)
- Above Rs 10000

GENERATION
Generation plays a major role in segmenting markets. Every generation is deeply influenced
by various activities. Such influences deeply impact their product purchase pattern.

TITAN PERSPECTIVE
Titan has many products to satisfy all the generations. And through constant
innovation Titan developed many products for new generations like FAST TRACK,
TECHNOLOGY, and FLIP etc

SOCIAL CLASS
Social Class segmentation is influenced by customer choices of automobiles, interior
decoration, clothing preferences etc. The tastes and preferences of the social class also change
according to time.
TITAN PERSPECTIVE
Titan has realized the demand of the society and has marketed its products for each of the
following social strata.

29

BEHAVIORAL SEGMENTATION:
Organizations can divide markets on the basis of behavior that consumer shows towards the
usage of the products. Various variables for segmenting market on the basis of purchase
behavior of customers are occasions, benefits, user status, usage rate, loyalty, etc.
OCCASIONS:
Markets can be classified on the basis of various occasions that customers encounter because
people need different products for different occasions.
TITAN PERSPECTIVE
Titan also offers occasion specific products like
FormalNEBULLA,
STEEL
RAGA,
GOLD&STEEL,
Dress wear
REGALIA,
RAGA,
GOLD&STEEL,
ROYALE.
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FashionSTEEL,
RAGA,
GOLD&STEEL,
FAST TRACK.
BENEFITS:
Market is divided on the basis of the benefits customers seek from the products. Benefit
segmentation can be used to position various brands within the same product category.
TITAN PERSPECTIVE
Titan product has benefits like:

It provides the TITAN WORLD SERVICE CENTRE in 174 towns.

It provides a huge product range to choose from.

Its products have good life cycle.

Usage Rate: The usage rate of a particular product/service can be divided into heavy,
medium and light. Marketers are usually attracted to heavy users than other type of
users.

Loyalty Status: The loyalty status of a particular market can be divided into different
groups, according to the intensity of their loyalty to these brands.

31

MARKET SEGMENTATION PROCEDURE

It is a three step procedure:
1.

Service stage:
Here the researcher conducts exploratory interviews and focused groups to gain
insights into consumer motivations attitudes and behaviors.

Then the researcher prepares a questionnaire and collects data on attributes and their
importance ratings, brand awareness and brand ratings, product usage patterns,
attitudes towards product category and demographics, geographic, psychographics
and media graphics of the respondents.

2.

Analysis Stage:
In this the researcher applies factor analysis to the data to remove highly correlated
variables then apply cluster analysis to create specific number of maximally different
segments.

3.

Profiling stage:
Here each cluster is profiled according to its distinguishing attitudes, behavior,
demographics, psychographics, and media graphics and media patterns. Each segment
is given a name depending on its dominant characteristics. Market segmentation
should be redone periodically because they change.

32

EFFECTIVE SEGMENTATION:
For effective segmentation, segmentation variables need to exhibit certain characteristics.
These are discussed below:

Measurable:
The variable used for the segmentation of the markets should be measurable to be
effective. For example, a variable like the purchasing power of potential customer is
measurable.

Substantial:
When dividing the market into segments, a marketer should take enough care to see
that each segment consist of adequate number of customers worth catering to.

Accessible:
The segment of the market that a marketer is trying to target should be accessible to
him.
The appropriate selection of the media, its coverage and other factors like the product
distribution facilities play a major role in a marketer becoming accessible to
customers.

Differentiable:
Each segment of the market should be different from others in terms of its needs and
wants. Each segment requires different marketing strategies because it responds to
different strategies differently.

33

Actionable:
A segmentation variable should help marketers develop effective marketing programs
to attract and serve potential customers effectively.

TARGETING:
It is the second stage of the Segment Target Position (STP) process. After the most
attractive segments are selected, a company should not directly start targeting all these
segments. The attractiveness of the segments is also depending on other important factors. In
the main activity of defining a target market, four sub activities are given which are the bases
for deciding on which segments will actually be targeted.
The four sub activities within targeting are:
1. Defining the abilities of the company and resources needed to enter a market
2. Analyzing competitors on their resources and skills
3. Considering the companys abilities compared to the competitors
4. Deciding on the actual target markets.
After the market has been separated into its segments, the marketer will select a
segment or series of segment and target it/them. Resources and efforts will be targeted
at the:

34

A)

The first is the single segment with a single product. In other word, the marketer
targets a single product offering at a single segment in a market with many segments.
For example, Titans sub brand, Raga is targeting the upwardly mobile ladies in the
upper premium segment.

B)

Secondly, the marketer could ignore the differences in the segments, and choose to
aim a single product at all segments i.e. the whole market. For example, Sonata and
Fast track brands of Titan are targeting mass and mid premium segment.

C)

Finally, there is a multi-segment approach. Here a marketer will target a variety of

different segments with a series of differentiated products. For example, Titan itself
provides with the number of different brands/products which are targeting different
segments in the market. Following is the table which represents the various sub
brands and their targeted segments of TITAN.

35

POSITIONING

Introduction:
The importance of an image has become an emotional part of everyone. A brand name
represents the image, character and personality of a brand. A brand name should be clear,
lucid, easy to remember, distinct from the competition and should not be generic to the
category. It should become customer's Top of the mind brand (TOMB). Most successful
brand names would satisfy these criterions to quite an extent. Brand loyalty is one thing
which has made the branding more popular. As someone rightly said "Brand loyalty is not
dead, it's just more like loyalty to a girl/boyfriend than loyalty to a husband/wife".
Vast flow of names today makes a brand harder to differentiate them unless they come out
with their own uniqueness. This way, they could come to their special position in everyday
life. The image following a particular name is also determined by the role of communication
it undergoes; of which the followings are included: its manner, personality, behavior, ethics,
values, etc. The importance of brands depends on the true ambitions of the company.

36

The increasing spread and domination of international brands has seemed inevitable for at
least the last 30 years. All around the world we have witnessed the disappearance of local
brands and local variants.

But despite this trend, local and regional brands still remain strong. In India, for example,
protected for many years by government policy from the invasion of foreign brands,
homegrown brands dominate many sectors - Tata automobiles and Titan watches, to name but
a few. In the end people want both global and local brands - brands that make them feel part
of wider international community and brands that root them in their home culture.

OBJECTIVES OF STUDY

To know the feedback of customers regarding the services which are being provided
by the company.

2. To understand the importance of client relationship.

To understand customer satisfaction regarding the products offered by the company.

To find out the problems faced by customer.

To know the Advertising Strategies towards the after sales service offers by Titan.

37

RESEARCH METHODOLOGY
Research Methodology is a systematic method of discovering new facts or
verifying old facts, their sequence, inter-relationship, casual explanation and the
natural laws which governs them. In it we study the various steps that are
generally adopted by a researcher in the studying his research problem along
with the logic behind them.
Different stages involved in research consists of enacting the problem,
formulating a hypothesis, collecting the facts or data, analyzing the facts and
reaching certain conclusion either in the form of solution towards the concerned
problem or in generalization for some theoretical formulation.
Type of Sample Design:
Sample Size:

Judgment Sampling

100 Percent Respondent of People

In Research Methodology mainly Data plays an important role.

The Data is divided in two parts:
38

a) Primary Data.
b) Secondary Data.
Primary Data is the data, which is collected directly by direct personal
interview,
Interview, indirect oral investigation, Information received through local agents,
Drafting a schedule, drafting a questionnaire.
Secondary Data is the data, which is collected from:

Various books.

Magazine and material.

Internet

The data which is stored in the organization and provide by the HR people are
also secondary data. The various information is taken out regarding that subject
as well other subject from various sources and stored. The last years data stored
can also be secondary data. This data is kept for the internal use of the
organization.
The HR manual is for the internal use of the organization they are secondary
data which help people to gain information. In this report the data plays a very
crucial role. For this report the data was provided to me by HR department and
other departmental head in the organization.

DATA COLLECTION AND INTERPRETATION

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

39

Figure 1: Titan sub-brands possessed by respondents

Table No1: Titan sub-brands possessed by respondents
S.NO.

Sub Brands

Percentage
%

Fastrack

72

Sonata

14

Raga

Nebula

WWF

Edge

Survey Analysis: Titan sub-brand owned

This was a multiple choice question where respondents were asked to choose subbrands of Titan which they possess. It was found that around 72% of the consumers in the age
group of 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?

40

Figure 2: Period of Titan watchs use

Table No2: Period of Titan watchs use
S.NO.

Period Of Usage

Percentage

Years

2001-2004

64

2004-2007

24

2007-2010

12

Survey 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:
2001year 2004years, 2004years 2007years and 2007years 2010years.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?

41

Figure 3: Reasons for brand preference

Table 3: Reasons for brand preference
S.NO.

Reasons

No. of respondents
(out of total 50)

Attractive designs

39

Reasonable Price

Brand image

22

Good quality

25

Survey Analysis: Reasons for brand loyalty

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.

42

Figure 4: Recall of Titans original tagline

Table No 4: Recall of Titans original tagline
S.NO.

Recall of Titans Tagline

Percentage
%

YES

22

NO

78

Survey Analysis: Recall of Titans tagline

Titans tagline, before brand repositioning exercise has been undertaken, was
Whats your style. This tagline was adopted during first rebranding exercise in 2004.
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.

5.

Have you seen the advertisement of Titan watches? In which media have you
seen the advertisement?
43

Figure 5: Major Advertisement media

Table No.5 Major Advertisement media
S.NO.

Major Advertisement Media

No. of respondents
(out of 50)

TV

46

Magazines

25

Newspaper

36

Hoardings

15

Radio

Survey Analysis: Titans 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.
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.

Figure 6: Awareness of brand ambassador

44

Figure 6: Awareness of brand ambassador

Table No 6: Awareness of brand ambassador
S.NO.

Awareness of Brand Ambassador

No. Of Respondents
(out of 50)

Dont know

Correct responses

46

Survey Analysis: Brand Ambassador of Titan

Aamir Khan is the brand ambassador of Titan since 2004. 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.

45

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

Figure 7: Awareness of new tagline

Table No 7: Awareness of new tagline
S.NO.

Awareness of new Tagline

Percentage
%

Aware

36

Not Aware

64

Survey Analysis: Awareness of new tagline Be More

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.

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

46

Figure 8: Consumer perception of new designs

Table No 8: Consumer perception of new designs
S.NO.

Consumer Perception

No. of Respondents
(out of 50)

Poor

Average

Above Average

Good

39

Excellent

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 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.

9. Have you seen the new campaign of Titan?

47

Figure 9: Awareness of new campaign

Table No 9: Awareness of new campaign
S.NO.

Awareness Of New Campaign

Percentage
%

Aware

50

Not Aware

50

Survey Analysis: New Campaign of Titan

The survey has revealed that the percentage of respondents who have seen the new
campaign focussing on be more featuring Aamir Khan is 50%.

10. Do you think the new advertisement is effective in inspiring consumers to have a
new look everyday and be more in lives?

48

Figure 10: Consumer perception of new campaign

Table No 10: Consumer perception of new campaign
S.NO.

Consumer Perception Of New

No. Of Respondents

Campaign
Not at all effective

(out of 25)
-

Effective

16

Highly Effective

Survey Analysis: Rating of New Campaign

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

7.2 FINDINGS
The findings of the consumer awareness survey are listed below:
49

 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 Titans

exclusive showrooms.

SWOT ANALYSIS:

A. Strength
1. Style:
50

Titan first introduced the style concept in India and projected the watch as a fashion
accessory. Now a days 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 likeContribution of owned brands and retail. The profit is accounted by being in the retail
space which is booming.
Watches are available with popular functions like dates, multifunction and
chronographic.
Guarantee/warranty
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:

51

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.
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.

D. Threats
1. Competitor:

52

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 days 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.

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.

CHAPTER 9- CONCLUSION

53

 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.
Invest more in R&D as customer expectations are changing rapidly. Though
Titan has got more product collections, it should focus on introducing more
varieties in already existing product collections. In other words, having a
limited but more depth in product collections would be more advantageous.
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.
After sales service has to be improved. That is, the process of servicing and
repairing of watches should be made faster. This can be done by ensuring the
spare parts availability and training all sales personnel in Titan showrooms to
undertake these tasks.
Tie up with international watch brands and make them available locally.
Make use of internet to spread awareness among consumers about the brand.

SUGGESTIONS AND RECOMMENDATION

54

Suggestions given by the respondents to improve brand image.

Varied responses were received for this question. All the responses have been
summarized as follows:
-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.

QUESTIONNAIRE
1. Which sub-brand of Titan watches do you possess?
55

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?
3. Why do you prefer Titan brand?

a) Attractive designs,
b) Reasonable price
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?
7. Are you aware of the new tagline of Titan?

a) Aware
b) Not aware
56

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

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

11. How do you rate Titans exclusive showrooms with respect to the following:

(1Poor, 2-Average, 3-Above Average, 4-Good, 5-Excellent)

a) Ambience

b) Sales personnel

c) After sales service

d) Display of watches

57

e) Overall showroom

BIBLIOGRAPHY

58

Marketing Management Philip Kotler

Special Studies in Marketing- Romeo S. Mascarenhas
www.titanwold.com
www.tata.com/titan
www.google.com
www.indianfoline.com
www.economictimes.com

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