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Institute of Productivity & Management, Meerut: Report On Marketing of Services
Institute of Productivity & Management, Meerut: Report On Marketing of Services
&
MANAGEMENT, MEERUT
REPORT ON MARKETING OF SERVICES
RAKESH ROUSHAN
PRASANT KUMAR
NO. OF WORDS—7,395
We would like to show our gratitude to Resp. Prof. Mr. Sham Sharma, for
providing us with the golden opportunity to prepare an intellectual report, on
marketing of services of “Titan World Exclusive Showroom for Watches ” in
order to provide delight to the customers.
We are grateful to Resp. Prof. Mr. Sham Sharma, for guiding us to prepare
an aesthetic report on marketing of services by “ TITAN WORLD EXCLUSIVE
SHOWROOM FOR WATCHES” with the proper information and knowledge of
sixteen elements of formal report writing. Without his kind support it would
have been difficult for us to complete the report, so meaningful and
interesting in a short period of time.
We thank him whole heartily for his consent encouragement, warm response
and for filling every gap in our personal development and knowledge
enlightens and valuable idea that made this assignment successful.
We would like to thank the respected faculty members, library staffs, and
seniors of Institute of Productivity & Management, Meerut for providing us
such a valuable guidelines, ideas and intellectual support in order to
complete this report on marketing of services.
We would also like to thank the “World of Titan” people for their warm
response and great support in order to prepare the report aesthetic and
meaningful.
EXECUTIVE SUMMARY..............................................................................................................................4
RESEARCH METHODOLOGY....................................................................................................................5
TYPES OF DATA...........................................................................................................................................6
INTRODUCTION OF TITAN WORLD......................................................................................................7
COMPANY PROFILE...............................................................................................................................8
GLOBALIZATION AT A GLANCE..........................................................................................................9
ACHIEVEMENTS......................................................................................................................................9
PRODUCT PROFILE.............................................................................................................................10
SERVICE MARKETING OF TITAN WORLD.........................................................................................13
RATER MODEL FOR CUSTOMER SERVICE....................................................................................13
INTERACTION WITH FRONT LINE EMPLOYEE...........................................................................19
RELATIONSHIP BETWEEN SELLER AND BUYER........................................................................20
VALUE CREATION................................................................................................................................23
CUSTOMER FEED BACK FORM.............................................................................................................28
FUCTIONAL AREA OF “WORLD OF TITAN”......................................................................................29
GAP ANALYSIS OF SERVICES OF TITAN—........................................................................................37
CONSUMER REPORT...............................................................................................................................40
CONCLUSION.............................................................................................................................................42
BIBLIOGRAPHY.........................................................................................................................................43
We have written the brief introduction about the “ World of Titan” company
profile, achievements and global policy. We have specifically mentioned the
product profile of Titan world and brief description about the different
products available and the table related to different segments of customer
preferring different brands.
In this report you would see details regarding the fundamental tools of the
marketing of services like RATER model for customer service, relation
between sellers and buyer, the quality of frontline people, location factors.
Beside that we discussed how Titan creates value for its customer and get
feedback about their products and services. We also go through Titan
marketing, financing and HR strategy and brief analysis of gaps in delivering
services. We include charts and tables show consumers report on the
satisfaction and feedback for Titan products and services.
We have tried our level best to analyze the every aspect of services which
are generally rendered by the “World of Titan” exclusive showroom.
For any businesses it takes simple acts that please the customer at the
most unexpected moments, to result in Customer Delight.
It helps segment and target markets, in some cases describing the situation
may provide information and descriptive information is all that is needed to
solve business problems. The major emphasis in such studies is on the
discovery of the ideas and insights. Research design for such studies must
be flexible enough to provide opportunity for considering different aspects of
the problem under study. We collected data from following primary sources.
PRIMARY DATA For the purpose of collecting data we used following method.
In our project we have classified the data into two specific types:
1. PRIMARY DATA
2. SECONDARY DATA
QUESTIONNAIRE
INTERVIEW
2) SECONDARY DATA: Secondary data are those which already exist and
which have been collected for some purpose. In this project the vital sources
for collecting secondary data are:
LIBRARY BOOKS
NEWSPAPERS
INTERNET
Today, the Titan portfolio has over 60% of the domestic market share in the
organized watch market. The company has 247 exclusive showrooms
christened World of Titan', making it amongst the largest chains in its
category backed by 700 after−sales−service centers. The company has a
world−class design studio that constantly invents new trends in wrist
watches.
ACHIEVEMENTS
Titan Industries has been awarded the following:
PRODUCT PROFILE
Titan watches embarked on the fashion watches category with the launch
of 'Fastrack' in the year 1998. It seems like the ever changing fashion
industry just rubbed on a little bit of the novelty factor on the watch industry
as well. Titan's extraordinary and innovative technology coupled with a fresh
sense of style resulted in the Fastrack range of watches. It is believed that
Fast rack contributes to 4% of the Titan portfolio. Significant rise in Fast
rack sales has compelled Titan to establish it as a separate brand.
Exquisite, elegant and regal the Titan Raga is a classy feminine brand of
watch from Titan. This is the only brand in India which is designed
exclusively for women.
Associated with the Indian working class, the Sonata range comprises of
both analog and digital watches. The metal strap watches by Sonata was a
big hit with the Indian working class men. Sonata has forayed into the
plastic watch arena as well. Though the watches are of good quality they are
reasonably priced.
Most of the Titan steel watches are for gents while the range available for
women is meager. It contains a range of bracelet and leather strap watches
for men and women. There are about 32 models of Gents watches and these
watches are sensibly styled. The shape of the watch dials are rectangle,
round and tonneau.
Titan Bandhan Watches are meant for formal wear. They come as a set of
two or as a pair. They are a tribute to the undying bond of love between a
man and a woman. One of the pair is a ladies watch and the other is an
elegant looking men's watch. Titan Bandhan watches come in leather, steel
and gold straps and are exquisitely packaged.
These five dimensions have been found to be relevant for a wide range of
organizations and sectors, although the importance of each dimension will
vary from industry to industry. The model is used by organizations to
identify and assess customer expectations, to plan and improve services,
and to measure customer satisfaction.
When a customer comes in the showroom they give proper help or direction
to the customer to choose their product. They first try to know that up to
what range the customer want to purchase and what actually they want
that’s suits their personality. A customer basically looks for attribute and
quality with minimum price. For example, a youth of age 18- 25 years looks
for sporty and funky design. Then it’s become easy for Titan people to prefer
them to go for the brands like Fast rack or Octane. And if their business
class or upper class people visit in Titan showroom then they prefers them
to go for brands like Nebula, Orion, Raga etc.
Whatever they prefer to the customers most of them choose those brands.
In this way whatever they promise to their customer they are able to deliver
those promises every time, accurately and consistently.
Does your staff have the right knowledge and skills to deliver the service
you promised? Are they respectful of your customers? Do they convey
trust and confidence?
They have one of the largest service networks in the watch industry in India.
A ‘quick service’ initiative has been Customer Service
They have one of the largest service networks in the watch industry in India.
A ‘quick service’ initiative has been implemented at certain of their service
centres, which they believe has further improved their customer relations.
They recently used external surveys to track changing customer
From the tangibility point of view in the showroom they provide a wide
range of stylish watches that’s suits to the personality of customers. They
provide them catalogue and then identify the customer’s choice. They never
irritate with the customer’s and also show them new arrival watch collection.
During festive season and wedding season they have discount facilities, gifts
in order to delight their customers. Sometimes they gifts to their premium
In response to that question the Titan people says that there is three lady,
one manager and one watch care person. So, normally when more
customers visit simultaneously to the showroom it will be difficult to handle
Are you willing to help the customer, provide prompt service, and resolve
problems satisfactorily?
Titan people says that customer service is in our priority list and they try
their best to give 100% customer care facility. They say that their customer
care facility is available not only in India but it is available all over world.
Customer can easily access to our service as a quick service initiative has
been taken by the World of Titan.
They say that their customer service unit is information technology driven
and special initiatives have been made to link the service network through a
web based application. Service centre are fully computerized and able to
transfer data and daily basis information to the company about product and
service deliverables.
According to them all the employee of showroom are willing to help the
customers. They talk with customer very politely and rendering their
services and take care of their demand for services. While purchasing
Since customer service reaches at their peaks at that time when customers
being offered a drink and place to sit to enjoy their sweet time while they
shopping. But these are some facility in which the showroom is lacking.
The interaction between customer and frontline people shows that they
always ready to help. There politeness and way of talking to their customer
gives them feeling of respect and their importance for the Titan people.
It’s not a thing when you go to purchase in Titan showroom you will buy or
not, but it’s matter of building a good relationship and satisfy their
customer. When you enter the showroom the frontline staffs greet the
customers by welcome them in the showroom and says may I help you sir,
what can I do for you sir. And when the customer leaves the showroom they
Titan has a customer base over eighty million, despite that they maintain
complete information about their customer. As we visit the showroom we
see that frontline people behave very positively and show their curiosity to
help we people. What we see that they keep the information about their
customer and recognize them by their name itself.
Titan world provides online feedback facility to their customer and request
for suggestion in order to improve their product and services. Through
customer relationship management they maintain the customer I.D. to
redefined to suits them in a variety of ways which not only make them to
purchase more but also be loyal to that brand. So that they visit frequently
to the store and prefers Titan watches in comparison to that of other brands.
WORD OF MOUTH
It’s a way of influencing the decision of the customer. As a youth who use
the Fastrack brand they are very passionate and style conscious. Fastrack is
positioned itself as a youth brand generally prefers by the age group of 18-
As Titan targeted its Raga watches for women in the premium segment
which gives them the feeling of intimacy. This brand generally uses by
women during parties and functions, so it becomes easy for Titan to have a
positive word of mouth for their brand. In the Titan they have many
collections which enhance the brand image of leadership, innovation and
pride.
LOCATION
The showroom is not in any mall and there is also very poor parking facility
in front of the showroom. The other demerit is that the showroom is too far
from the main town. But when we look upon the “Internal marketing” of
the showroom in terms of its interior design, outlook, trained employees
and services regarding purchasing of products and watch care facility its
quite impressive for we people.
When businesses claim they are in business for the sake of consumer, they
must live up to the hype of their own creation. While it is true that all
businesses work with the intent of profit maximization, unless stated
otherwise, there are organizations that care for their consumers with
genuine intent. They are not there to exploit their consumers and make as
much profits as they could in as short a period as possible, but
managements intend the best for their consumers.
Customer value in its most basic form is merely the difference between the
benefit receive from a product and the cost associated with that product. Of
note, is that today's consumers are much more educated and informed due
to the power of the internet. As such, they will tend to purchase products
they feel are worth the cost needed to obtain such product. Consumers tend
to know exactly what they want to purchase and will not waste time with
unsuitable products.
Reducing price dramatically or changing price too often will erode your
products value. To maintain customer value refrain from volatile price
changes and embrace cost. Clearly demonstrating that the benefits of your
products far outweigh the costs associate with the product will work wonders
in wining customers over. Think of a time you purchased a product that you
found completely valuable ad that solved a need you had. Strive to provide
this same feeling of satisfaction to your customers and you will be rewarded
for doing so.
The EMG guarantees the following for the period of Extended Guarantee
The Exclusive Loyalty program of the World of Titan, designed to give its
members exciting rewards in recognition for their loyalty to World of Titan.
GIFT VOUCHERS
GIFT EXCHANGE
GIFT WRAPPING
Free Gift Wrapping & Special Gift Boxes for single and Pair
watches are available at all World of Titan stores across the
country at anytime in the year.
Excellent
Very good
Good
Average
Poor
MARKETING STARTEGY—
DISTRIBUTION
Titan decide to first focus creating a format, would enable it to build a strong
retail presence and bring the product closer to the customer. The idea was
to build and enhance the brand experience through retailing. This led to the
creation of the world of titan showroom, which exclusively showcased the
complete product range and provided a brand experience in terms of service
and convince.
At TITAN, retail has its own purpose, role and identity, which draws
inspiration from the product brand, is not subservient to it
Regional Retail
Managers
MIS
Signet-
WOT
Loyalty
Club
Training Promotions
Frontline And Visual Merchandisers
Staff Advertising
management
Titan first launched its quartz range with heavy advertising. The first
advertisement described the titan quartz as the international watch that
could be bought in Indian rupees. Later campaigns also positioned the watch
as a gift item, with advertisements saying: The next time your husband
wants to buy you a saree ask him for a Titan watch. This campaign was an
enormous success.
PRICING STRATEGY
Titan prices according to the features and value delivered. They get the
maximum market share from Sonata. Since there is no one offering pure
gold watches and jewellery watches so it is able to skim the market with
their distinct products. Titan comes out every year with a price discount sale
on watches. The differences in the prices are justified with its important
features and style. They are trying to maximize their profits with the help of
different product mix.
PROMOTION
Titan ties up with various magazines, television and outlets where Titan
watches were given as gifts for winning a particular contest. Another of
promoting the Titan watches is through seasons. For example gold watches
are preferred for a wedding occasion. Titan is directly tapping the customers
by sponsoring major events, cultural and other fests in colleges, schools and
other happenings. Titan introduced a contest on cartoon networkindia.com
which invites children to use their creativity and imagination to design a
watch. Besides that Titan has its brand ambassador as Amir Khan which
Today, Titan has over 60 per cent of the domestic market share in the
organized watch market. Its exclusive retail showroom chain – World of
Titan – is amongst the largest in its category. Titan watches are sold
through over 9,000 outlets in over 2,300 cities and internationally in over 30
countries including the UK, Spain, Greece and countries in the Middle East
and Asia Pacific. It’s after sales service is itself a benchmarked operation
with a network of over 616 service centers and has one of the world’s
fastest turnaround times. The company has a world-class design centre both
for watches and jewellery.
The return on capital employed has seen a significant increase driven mainly
by the enhancement in operational efficiency, including a reduction in capital
employed in the jewellery division, despite the rapid top line growth.
Reducing funds were employed in working capital of the domestic business
through new initiatives like supply chain management to bring down
Through their strong financial position the Titan world deliver the best
products and services to their customers. With that they able to satisfy their
needs and wants and try their best to feel their customers comfort and
delight.
HU
Titan appreciate that people are far more productive. And so Titan people
work in a space that’s delightfully creative. That allows for personal growth
and innovative thinking and encourages an easy camaraderie between
seniors and subordinates. They strive for excellence with team sprit fostered
by recreational activates and community service, as well as philosophy of
constant achievement
Titan offer:-
The issue of service quality can be used as an example to illustrate gaps. For
this example, there are several gaps that are important to measure. From a
Indicates the difference between the service expected by customers and the
service they actually receive. For example, customers may expect to wait
only 20 minutes to see their doctor but, in fact, have to wait more than
thirty minutes. So, what we observe in Titan showroom is that the
customers have not to wait too much. Titan people deliver fast and best
service to their customers. However during festive and wedding season
customer have to wait for the service to be render. For example the
customer have to wait for the employee to be free from other customers,
they have to wait till the billing completes. And this will create gap in their
service.
Represents the gap between the established delivery standards and actual
service delivered. Given the above example, management may establish a
standard such that telephone calls should be answered within thirty seconds.
However, if it takes more than thirty seconds for calls to be answered,
regardless of the cause, there is a delivery gap. So, what we found
regarding this gap is that there is no such type of gap in their service. And
they assured their customer that the services will be render on time. For
example if a customer comes regarding the watch repairing to the
showroom he will be promised to deliver their service on time and Titan
fulfill their promises.
CONSUMER REPORT
CONSUMER FEEDBACK
Public Criticisms 1
Public Praises 5
Consumer Complaints(open) 0
Consumer Complaints( Resolved) 0
Consumer Complaints(unresolved) 2
Consumer Interested 963
CONCLUSION
Titan is going all out to create and present a watch-buying experience that is
beyond the ordinary. Apart from the stylized and luxurious ambience of its
stores, Titan has designed an array of customer services such as
personalized laser engraving, a full service watch care centre, gift delivery
Titan chooses to see that its product can survive, rise and be the product
leader. They have achieved a balance between cost focus and differentiation
focus. They help in providing customers convenience in their shopping. Titan
has its shop in almost all localities so it’s feasible for the customers to walk
in to the Titan shops at any time irrespective to the distance. Titan provides
the best quality watches at affordable price and design. This is the most
salient feature of Titan. Titan concentrates on all economic class of
customers there by achieving maximum customer base. Also its advertising
strategy is so brilliant that it captures the minds of customers thereby
imparting an emotional thirst and motivating them to buy Titan brands.
BIBLIOGRAPHY
http://www.scribd.com/doc/28345615/Titan-Marketing
http://en.wikipedia.org/wiki/SERVQUAL
http://www.thehindu.com/business/
www.titanworld.com/worldoftitan/value-added-services
www.titanworld.com/assistance
www.jantareview.com/advanced-search.php?...TITAN%20SERVICE
%20CENTRE
http://www.titanworld.com/titan_stories
www.linkedin.com/companies/titan-services
http://www.titanworld.com/collections
www.titan.co.in/business-divisions/time-products.../sonata
www.infibeam.com/Watches/Titan.xhtml
www.indianmba.com/Faculty_Column/FC1101/fc1101.html
www.icmrindia.org/casestudies/catalogue/Marketing/MKTG110.
www.managementparadise.com/forums/...php/t-24229.