Acknowledgement

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

student with the project guide begin the driving force behind”. I
would like to sincerely thank our project guide Prof.Subhadeep
Bhadra for giving us an opportunity to do this research project his
experience and knowledge has helped us immensely in successful
completion of this project .
We are also grateful to our university for its guidance.
Working on this project has been a great learning experience. we are
thankful to all concerned people who have played an active role in the
completion of this project.
 Table of content
1. Preface
2. Introduction
3. Profile of company
4. SWOT analysis
5. Product portfolio of titan and product range
6. Methodology used
7. Research design
8. Data analysis
9. Graphical analysis
10. Limitations of the study
11. Conclusion
12. Questionnaire
13. Bibliography
 Preface
Titan entered the watch market as a premium watch. But the
unorganized sector and low priced option from HMT gave titan
serious competition. The unorganized sector grew very fast —
almost 55% of the demand in the total market size of 45 million
watches was being met by the unorganized sector. With the
import duty reduced to 25% (earlier 50%) and with the import
license for watch movement being easy to obtain , many small-
time players cropped up. These small players offered competition
to Titan on the price front. Thus Titan launched low priced
segment Sonata.
“For us, the main concern was: Does the sum of all our
communication for Raga, classique and Regalia add up to Titan?
We felt it didn’t besides ; building each of them as separately
brands is a very expensive proposition .So, instead of a multi-
brand strategy here, we are going to unveil a single-brand one.
Titan has been facing a dilemma that whether it should market
these brands as independent sub-brands or not, but it because of
the high costs carried on with status quo but with more
emphasis on segments.
It is also putting in place a strategy to tap the rural market
rigorously. while has the product and the brand for this market
in the form of ‘sonata’, and reach in terms of distribution ,but in
terms of Titan they don’t have communication. Mistake
companies generally make in approaching the rural market is to
see as one large lump, while in reality the market is very
segmented and distinct.
Titan has been the first one to build upon style but in terms of
marketing if we consider classique or any other brand it was not
targeting any particular segment initially with a focus ,whether it
was the youngsters or the children. Thus there was a need to
foray into these already present segments.
 INTRODUCTION
TITLE OF THE PROJECT:
“Titan”

With fast pace of economical growth the Indian watch market

has also changed from need to demand. Different brand with
different technology design innovation have entered market.

The project is to give slight insight about customer loyalty to

particular brand (TITAN).

Than is a trustworthy brand in India , which pertains in all classes

from lower to very high class people.

EXECUTIVE SUMMERY:

Market research is done, collected data from customer to

arrive at conclusion.

The brand image affects the customer.

What should be the future trend ?

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

Titan utilizes the celebrities in there advertisement to reach

the all classes of people. It has used the VOLINE tune , which
made advertisement unique. Their aid are always full of
emotions & catching the heart & attention of people.
 Profile of the company

Titan company is the organization that brought about a

paradigm shift in the Indian Watch Market when its Futuristic
quartz technology, complimented by international styling . With
India’s two most recognized and loved brands Titan and Tanishq
to its credit, Titan company is the fifth largest integrated own
brand which manufacturer in the world.

The success story began in 1984 with a joint venture between the
Tata Group and the Tamil Nadu Industrial development
corporation .Presenting Titan Quartz watches that sported an
international look , Titan Company transformed the Indian watch
Market . After Sonata , a value brand of functionally styled
watches at affordable prices. Titan Company reached out to the
Youth segment with Fastrack, it’s this brand trendy and chic. The
company has sold 150 million watches world over and
manufactures over 15 million watches every year.

With a license for premium fashion watches of global brands. Titan

company repeated its pioneering act and brought international
brands into the Indian market. Tommy Hilfiger , FCUK . Timberland
& police as well as the Swiss made watch — Xylys owe their
presence in the Indian market to Titan company .

Entering the largely fragmented Indian jewelry market with no

known brands in 1995, Titan company launched Tanishq. India’s
most trusted and fastest growing jewelry brand. Gold plus, the
largest addition, focuses on the preferences of semi- urban and
rural India. Completing the jewelry portfolio is Zoya, the
largest retail chain in the luxery segment.

Titan company has also made its foray into eyewear , offering a
variety of differentiated product to the end consumer consisting
of frames ,lenses contact lenses, and accessories. Frames are
available in both international brands brands(Levi’s, Exprit,Hugo
boss etc.)and in house brands— Titan, Eye+ and Dash which is
an offering for children . The company has leveraged its
manufacturing competencies and branched into precision
engineering components and sub-assemblies, machine building
and automation solutions, tooling solutions and electronic sub
Institute of Management studies (Autonomous)
 SWOT ANALYSIS
The SWOT of Titan discusses the strengths, weaknesses,
opportunities and threats for one of the biggest watch companies
in India.

STRENGTH IN THE SWOT ANALYSIS OF TITAN

a) The varied offerings to diverse segments with a clear
cut positioning.
b) The quality of watches is impressive .
c) Innovation is core to its strategy .
d) Visual Merchandizing has been Titan’s strength ever since
its inception.
e) Good retails network by “WORLD OF TITAN”
f) Excellent customer service
g) International tie-ups with Hugo Boss and Tommy Hilfiger.

Weakness in the SWOT analysis of Titan

a) Waterproof watches not a part of its kitty.
b) Rural India does not form a substantial part of customer base.
c) Kids are fascinated with mobile phones rather than watches
and incidentally, they show the time.

OPPORTUNITIES IN THE SWOT ANALYSIS OF TITAN

a) Under-penetrated market for watches as only 35%
(approximately) of Indian population possesses watches.
b) Watches positioned as a fashion wear rather than just utility
products.
 c) With a changing consumer attitude , people like to possess
multiple watches for different occasions and events .
d) Huge market in the exchange business.
e) Introducing waterproof watches.
f) Rural market may be trapped .
THREATS OF SWOT ANALYSIS OF TITAN
From competitors –
a) Japanese -citizen , casio.
b) Swiss-Rolex, Omega, Rado , Tissot, Tag Heur . etc.
c) Chinese watches
d) Unorganized sector/Grey market.
e) Mobile phones and wall clocks are a substitute to watches.
f) The fashion trend keeps on changing.
 PRODUCT PORTFOLIO
OF TITAN AND PRODUCT RANGE

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

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

It is difficult to categorize Titan’s Royale, Regalia and classique as

premium or popular. Though they have a premium image they are
available at price less than ₹. 10000, Regalia (estimated sales-0.2
million units) is at the higher end with dress watches for special
occasions. The Royale range (estimated sales- 0.6 million watches)
caters to the gift segment. There is also Royale Crown in the upper
end of the Royale range , Classique is an office wears accessory that
is gold plated and leather strapped (estimated sales -1 million
units).Classique watches are targeted at the older , male segment of
the market, and profess timeless elegance through a combination of
fine leather straps, clean classis dials and sleek cases, thus making it,
“A perfect fit for formal wear”.Classique is embodiment of
everything that is everlasting yet contemporary. These watches tend
to be generic in their simplicity and final no real competitors except
HMT. These watches are priced between ₹550 to ₹3000. Though
there are very high priced watches in the above three ranges it is the
relatively low priced ones that sells. They all target the upper middle
class men and women in their thirties Royale, Classique and Regalia
are the watches that gave Titan popularity and the prestige it enjoys.
The spectra range in this price brand is a well designed Bimetal
watch (“ stylishness of gold and ruggedness of steel” ).It sold just
70,000 units in 1997-98. Titan industries launched
( september,2001) it’s range of watches in steel , targeted at urban
men and women in the age group of 25-35 years. The Titan steel
collection has a range of bracelets and leather strap watches for
both mem and women priced between ₹.1250 and ₹6000. The
range will be retailed through world of Titan , Time zone and other
retail outlets. The launch of the steel watches , available in 90
designs will be followed by an aggressive marketing campaign.

Titan Tanishq range initially targeted the European market with

limited success. In India also Tanishqq faced resistance because
Indian women do not treat watches as jewelry.
The company is exploring the possibility of filling up the gap in the
super premium segment. At present only Swiss brand have a
presence in this niche. TIL, however , has its Nebula range for both
men and women priced between ₹6,000 and ₹ 32,000. The new
range is expected to higher price than the Nebula range. In fact the
company’s focus would be on niche segments to grow the market.
By planning to launch a brand in the super premium category ,
Titan perhaps hopes to be present across all categories

Titan’s range is an interesting product concept that offered to give

dials that match with design on saris. This promise was unrealistic
and Raga flopped (estimated sales- 20,000 units ). Raga is now being
launched in more mellow colours and its positioning changed. Ragas
silver watch range also did not fare well because Indian dials.

Titan industries launched its Fastrack range of watches for women (For
men it is already present). The ladies watches are available in different
finishes frosted , polished and satin and come in varied geometric
shapes with trendy leather straps and classy metal bracelets. The
watches retail from ₹ 995 to ₹1950 and are attractively priced . The
watches which have been designed at Titan’s creative studio is the
outcome of research that has highlighted the need for a watch that is
fashionable , bold, unconventional and designed to accessories
western wears . A collection of watches with contemporary styles
those are young and distinctive . Design that go from the relaxed and
informal to the definitely sporty. The woman’s
collection presents the all new international ‘Frosted’ look , which is
trendy and chic l. The fastrack collection has elements like cool mesh
straps and features that include backlight and dual time. Also
presenting a range of fashion digitals in contemporary wrist hugging
cases with oversized displays and features that include countdown
timers, chronographs, lap timers, hourly crime , alarm and Hi- light
glow. Fastrack goggles are one of the products of titan which is
exclusively marketed by the company. It is popular amongst the
youth.

Dash is Titan’s reply to Gimmix and zap. Dash is available in 3 new

collections for kids – popeye , Digital and Lumibrite. Titan is the sole
license of popeye in India and this range is priced between ₹350
and ₹395. Giving popeye of the spinach eating fame the additional
responsibilty of keeping time, the Popeye brand of watches comes
in 6 different designs . The digital range in a collection of 10 digital
watches has features like EI-light compass and velcro Straps for the
sporty and is priced between ₹425 and ₹495 . And Lumibrite is a
glow watch that comes at ₹ 325 . The company has also brought out
a collection of five watches for the girls Priced at ₹295.
 Methodology used
 Gaining Knowledge about the product and services offered by
 Titan watches.
  Framing a questionnaire for collection of primary data.
  Mapping the city’s market for collection of primary information.
 Conducting a market survey by taking the response of
 the customers around the mapped markets.
  Analyzing the data.
  Sampling method purposive sampling.
 Data collection method primary data collection by preparing a
 questionnaire.
 Secondary data collection through the internet.
 RESEARCH DESIGN
Types of research :
For the project the type of research is descriptive and fundamental.
Descriptive research is an in-depth study of an entity, individual ,
institution , etc . It is in depth study of what it is, how it is , etc.
Descriptive research includes surveys and fact finding enquiries of
different kinds. The major purpose of descriptive research is
description of the state of affairs as it exists at present .

Fundamental research is mainly concerned with generalizations annd

with the formulation of a theory. With the help of fundamental
research , new theories can be derived or existing theories can be
modified. The objective of this research is just to acquire knowledge
about certain things. It is concerning human behaviour carried on with
a view to make generalizations about human behaviour and not done
to aim at certain conclusions.

Data collection :
Sample universe : BHUBANESHWAR
Sample size : 100
Sampling plan : stratified Random Sampling

Stratified Random Sampling: classify the population in convenient

number of groups i.e. strata. The group should be such that within
the group, there should be homogeneity in the members and
between groups there should be heterogeneity.
 INDUSTRY OVERVIEW
History of the Watch Market :
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.
1. Supplier power :
HMT has its own fully integrated operation for production of its
watches. Titan has its own production facilities for which it has
invested roughly 120 crore rupees over the year, the manufacturing
capacity of which is 6 million units. Also there has been a rise of low
cost producers in china and Taiwan which has provided an
opportunity for watch makers to outsource watch at low cost, just as
Titan has done to outsource the component for Dash. Due to the
large supply of watch movements available , there is little supplier
power in the watch market.

2. Buyer power :
The Indian watch buyer are very price sensitive , especially in the
lower end of the market. There is still a huge untapped market in
India with market penetration of only 20 units per thousand people
while the world average is more than 100. At the same time there
are a segment of people who are willing to pay a premium for
watches with good performance and with recognized brand name
so understanding the buyer’s preferences is very crucial in this
industry in order to gain a Substantial market share.

3. Entry Barrier :
The Indian watch market in the recent years has shown a
dramatic increase in the number of brands available in the
market due to removal of quantitative restrictions. So the new
entrant has to have an offering, which can be positioned and
differentiated from the other players in the market. This could be
 either price or functional or emotional appeal. So the prime
barrier for entry in the current context , for a new entrant is
to build a brand image and price competitively.

4. Threat of substitute :
There are no such substitute to watch as a product. However , in
terms of the companies offering various variations for watches such
as pendant watches and jewellery watches, some sort of
substitution has developed. Rich consumers prefer to purchase
watches more as a fashion accessory rather than simply for its
typical use .

5. Degree of Rivalry :
There are many companies in the Indian watch market, however,
the product ranges offered by them are manifold . This makes the
company very stiff. Also at the lower end of the market it is
basically the Value for money , which differentiates the players.
The strategic stakes for the producers are very high. Titan Ltd. The
largest company in terms of market share in the organized sector
has faced losses in the quarter ended June 2001 despite increase
in the market share due to macroeconomic situation. HMT faced
a similar situation when Titan was introduced in the 1980s leading
to a sharp fall in its market share.
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 ₹ 300 . Quartz watches form two third of the
organized sector, three fourth of the sales by volume comes from
watches that are priced below ₹1000.

Plastic as such is not acceptable to average Indian consumers,

especially those from the small town and rural areas who regard it as
cheap and flimsy. They want toughness which translates into a goid
quality metal model at a reasonable price.

Watch is one of the consumer durable 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 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 replacement demand for watches.
These along with the low penetration levels represent the untapped
market potential for watches in India.
 TITAN EYEPLUS
Titan eye the third major venture of Consumer business by titan
company , was launched into organized eye wear segment in
march 2007.
Titan eyeplus offers Indian consumers a world class optical retails
experience through products which showcase the best in contemporary
design and style, coupled with optical expertise guaranted thanks to
the technical collaboration with Sankara Netralaya, India’s premiere
eye care institute.

Benchmarked against the best in the world. Titan eye plis has played
a major role in elevating the eyewear category in India from its
traditional functional status to one that of a fashion statement the
brand has also redefined the way
The organized optic retail market in India operates through pioneering
concepts such as the open -touch -feel browse format complete
transparency in pricing ,style free insurance on spectacles etc. All of
this is backed by the high level of quality and trust that customer have
come to expect from the house of Tata and Titan Industries Limited in
particular. It has recently introduced the remote online eye testing
facility

Benchmarked against the best in the world. Titan Eyeplus herald

standardization in the eyewear Industry. Following Tata’s principles
of quality and trust, the brand offers international quality standards
enhanced by practices such as transparency in pricing, contemporary
design and styling in the highly fragmented and undifferentiated Indian
optical retail segment.

Titan Eyeplus has over 470 exclusive stores operating in over 200
cities and offers a wide range of stylish and contemporary eyewear.

Titan Eyeplus promises an unbeatable collections of sunglasses , with

a strong focus on quality and service for its customers. Various filters
created by Titan Eyeplus make a customer’s search easier and more
convenient. Do check out for offers in its filters. If any.

Buy sunglasses online after going through the detailed description of

the product separately on each page. You can use its Eye guide for help
with the frame size eye power and lenses
 Tanishq jewellers
Tanishq has emerged as India’s fastest growing jewellery brand and is a
name which signifies Superior craftsmanship exclusive designs and
superlative product quality. The term.Tanishq was coined by Mr.Xerxes
Desai by marrying the word ‘Tan’ meaning body and ‘Nishk’ meaning a
gold ornament.

The journey of Tanishq started with the launch of 18k gold watches
studded with precious Stone in 1994. But its soon grew into a 22k
jewellers who presented an exquisite range of gold and diamond
jewellery while striking a perfect balance between traditional appeal
and contemporary charm. The brand perfectly understands the ethos of
current Indian jewellery markets and keeps evolving along with its
changing demands and preferences.

Tanishq has brought to the market a whole new standard of business

ethics and product reliability. In the process beginning about a
transformation in which jewellery is bought or sold in India. Not only
does it abide by the stringent standard but also adheres to strict and
uniform guidelines across all 274 stores in 160 cities. with innovations
like karatmeter to check the purity of gold , the brand has won over
the customer’s hearts.
Following the line of ethical practice further adequate policies are in
place for their karigars and they are well taken care of with benefits like
health care and financial aid. It is also the only jeweller in India with a
state of art factory in Hosur. Tamil Nadu and takes utmost care to
ensure that it complies with labour laws and environmental standards.
There are three others units in Dehradun, Pantnagar and sikkim as well.

With retail sales of over of ₹10,000 crore in the last financial years.
Tanishq continues to rule the jewellery segments in India.
 Titan engineering anD
Automation limited
(TEAL)Titan Engineering and Automation Limited. Formerly known as
TITAN precision engineering division (PED) is a wholly own subsidiary of
Titan company Limited.

Born as an in house engineering team dedicated to high precision

component manufacturing and designing . Manufacturing automation
machines TEAL has augmented into realms beyond the initial setup. The
team now boasts of a full fledged machine building and automation and
component manufacturing business catering to the global markets.

AEROSPACE AND Defense

Aerospace and Defense business builds precision components and sub-
assemblies catering to the global Aerospace and Defense customers.

Journey of A&D started in 2005 leveraging the high precision

manufacturing pedigree of watch making in Titan company Limited.The
business has over the years made specific investment of over USD 20
million in the business with modern new green field facility in
Muduganapalli, Hosur.

With established Quality, System , Processes and ever demanding

expectations of the customers. We have decided to depeen our
relationship by continuing to make investment in capabilities.
Capacities and do everything possible to provide the best service and
be considered as an extended aim of our esteemed customers.

Rooted in the Titan’s cultures of attention to detail. A&D unit house a

state-of-art facility which manufactures precision machined
components and sub assemblies such as

Aerospace
Engine and Accessories
Aero system
Transmision
Landing system

Defence
Underwater system
Optronics
Missiles
UAVs
A&D unit serves various international customers such as :
UTC aerospace
Prat and whitney
Thales
 Business Divisions
WATCHES AND ACCESSORIES DIVISIONS :
The watch products divisions is where the Titan story begins. Today this
divisions has placed Titan company among the world largest retail
network. And earned the company the place of fifth largest integrated
watch manufacturer in the world .with over 4000 employees spread
Over three business units in Bangalore , India a manufacturing unit of
Hosure and 3 assembly plants located in the north of India, the division
continues to add world class brand to the company’s portfolio
Customers brand our customers have been at core of this growth and
divisions offers a slew of products that cater to their inherent needs.
Some of the most notable brands in the divisions portfolio are
Titan edge : The world’s slimmest watch( at 3.45 mm) that epitomized
the philosophy less is more.
Titan Raga : A feminant and oppulant accessory for today’s affluent
women.
Nebula : watches crafted with solid 18k gold and precious stone.
Sonata : India’s largest selling watch brands to suit the common
man’s wallet.
Xylys : A swiss -mad impeccably designed watch for the connoisseur
and new age achiever
Fastrack : watches created to accessorise the trendy youth of today.The
watch collection also boasts of collection such as Automatic, Heritage,
Nebula , Orion , Raga, Zoop and series like aviator, Octane and WWF.
Reyail : The watches and accessories divisions also markets some well
known international brands such as Tommyhilfiger, Timberland, police
and Fcuk under a license, agreement giving the new generations
customers an access to premium brands with their well equipped
retail chain.
The division has sold over a million watches through the unique format
of “world of Titan “where both house brands and licensed brands are
offered and through a vast network of dealers and lifestyles stores in
India and in 32 countries worldwide. The division offers after sells
Service network that has been considered benchmarked operation in
the industry.
The divisions constantly endeavours to understand and predict the
customers needs and strive to launch newer and trendier product
regularly.

Helios : India’s multi brand watch retailer offers an unmatched range of

largest designs across 30 international brands in addition to in-hoise
brands .These stores are specially design for the well travelled
connoisseur with a discerning taste in watches and a brand conscious
outlook.

Spread over a specious area of 2650 sq ft the high end multi brand
watch store houses more than 2200 watches and over 35 premium
international watch brand including versace ,seico ,
vorando ,mugoboss, citizen, Fossil, Titan , Xylys, Tommy hilfiger,
Raymond weil , Baume & mercier, and victormox amomgst others.
TITAN CUSTOMER SERVICES :
Spread across India with 748 services contact point is more than 265
towns, Titan company service centres network Is committed to deliver
a satisfying port sales experience to all customers.

The watch care centres are attached to the world of Titan and
authorized service centres are attached to multi brand outlets both
offer quick and high quality repairs for all types of watches currently
sold by Titan with a six moth service guarantee at the Titan watch care
centres all repair activities follows a strict and Systematic process that
is controlled and measure through an ISO audit system to ensure good
quality faster turnaround time and customers satisfaction . Titan
industries have various scheme in place . A post service follow up ( for
major repair ) activity