Customer Knowledge Consumer Awareness Survey Data Interpretation

Titan sub-brand owned This was a multiple choice question where respondents were asked to choose sub-brands of Titan which they possess. It was found that around 72% of the consumers in the age group of 20-30 years possess Fastrack brand, 14% Sonata, 6% Raga, 4% Nebula and only 2% own WWF and Edge.

Figure 4: Titan sub-brands possessed by respondents

2% 2% 6% 14% 4%

Fastrack Sonata Raga 72% Nebula WWF Edge

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: 1year 4years, 4years 7years and 7years 10years.

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.

Period of Titan watchs use

7 yrs - 10 yrs

4 yrs - 7 yrs

1 yr - 4yrs 0

10

20

30

40

50

60

70

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 from the respondents.

Reasons for brand preference

Reasons Attractive designs Reasonable Price Brand image Good quality

No. of respondents ( out of total 50) 39 7 22 25

Reasons for brand preference

40 35 30 25 20 15 10 5 0 attractive designs reasonable price brand image good quality

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. Figure 7: Recall of Titans original tagline

22%

yes 78% no

Types of media TV Magazines Newspapers Titans advertisements

No. of respondents 46 25 36

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. The findings of the survey have been summarized in a table as follows:

Major Advertisement media

Hoardings Radio

15 4

Major advertisement media

50 40 30 20 10 0 TV Magazines Newspapers Hoardings Radio

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.

Figure 9: Awareness of brand ambassador

Dont know

Correct responses

10

20

30

40

50

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.

Consumer perception of new designs

40 35 30 25 20 15 10 5 0 Poor Average Above Average Good Excellent

Titans exclusive showrooms The respondents were asked to rate Titans exclusive showrooms on 5 point rating scale Poor, Average, Above Average, Good and Excellent. The factors related to showrooms that were provided to the respondents for rating are store ambience, sales personnel, after sales service and display of watches.

Consumer perception of store ambience

40 35 30 25 20 15 10 5 0 Poor Average Above Average Good Excellent

36 of the 50 respondents have rated store ambience as Good and 7 each rated as Above Average and Excellent. This proves that store ambience plays an important role in consumer perception of service quality.

Consumer perception of sales personnel

35 30 25 20 15 10 5 0 Poor Average Above Average Good Excellent

With respect to sales personnel, 35 respondents rated them as Good, while 4 each rated as Poor and Average, 7 respondents gave rating of Above Average. Consumer Perception about after sales service

40 30 20 10 0 Poor Average Above Average Good Excellent

In the survey, 31 out of 50 respondents rated after sales service as Good, 4 each as Average, Above Average, Excellent while 7 respondents rated as Poor. Consumer perception of Display of watches

25 20 15 10 5 0 Poor Average Above Average Good Excellent

Most of the respondents have given high ratings to the display of watches in Titan showroom. 22 respondents rated it as Excellent, 24 respondents as Good and only 4 respondents gave rating of Average.

Overall perception about Titan showrooms

30 25 20 15 10 5 0 Poor Average Above Average Good Excellent

The respondents were also asked to give overall rating to Titans exclusive showrooms. It was found that out of total 50 respondents, 30 rated as good while the remaining considered the showrooms to be excellent. Around 50% of the respondents rated all the variables related to Titans exclusive showrooms as good. This shows that the store ambience, sales personnel, after sales service and display of watches in the showrooms play a major role in determining the customer perception about brand.

Findings of the survey The findings of the consumer awareness survey are listed below: 72% of the respondents in the age group of 20 30 years possess fastrack 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.

Recommendations 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? a) Fastrack 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? a) Yes b) No

6. In which media have you seen the advertisement? a) TV b) Newspaper c) Magazines d) Hoardings e) Radio

7. Who is the brand ambassador of Titan watches?

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

9. How do you rate the new designs of Titan? a) Poor b) Average c) Above Average d) Good e) Excellent

10. Have you seen the new campaign of Titan? a) Yes b) No

11. 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

12. 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 e) Overall showroom

13. What suggestions would you like to give to improve Titans brand image among customers?

Corporate Social Responsibility by TITAN Titan Industries has a clearly defined policy for Corporate Social Responsibility (CSR). As part of the companys CSR initiative, the manufacturing units of Watch and Jewellery Divisions at Hosur have acquired the certifications ISO 9001: 2000 Quality Management System Standards and ISO 14001:2000 Environment System Standard emphasising the efforts to be an ecologically responsible organisation. The companys diverse CSR initiatives include: Childrens education Enabling the disabled Artisan parks Womens empowerment Environment management programmes Miscellaneous community initiatives

Titan Industries community initiatives are committed to build partnership for social development, focus on sustainable initiatives and improve the quality of life of the communities where the initiatives operate. With a dedicated force of 250 enthusiastic employee volunteers, the company has formed a Community Development Forum. This forum works towards mobilising society and volunteers to make the community initiatives a success. The companys miscellaneous community development activities include orphanage support, HIV/Aids awareness, village adoption, vision improvement program, a program to provide work to rural unemployed women, community rehabilitation, tsunami relief work, eradication of child labour and environment protection, to name a few. The company has made a positive change in the lives of over 2000 people. Corporate responsibility begins at home

Titan Industries believes that corporate responsibility begins with the employees. The company ensures that the harmony, peace and inclusive approach at work place are maintained. Efforts are made to engage the employees in programs designed to fulfil our ecological and social responsibility. Various work-place initiatives are conducted to achieve this: War on Waste - an initiative that reduced the impact of manufacturing operations on the environment. At Titan Industries, Corporate Social Responsibility is more than philanthropy - it is an internal process that reflects the soul of the company. Successful CSR programmes: Titan Industries has embarked on and completed several community development programmes as part of its CSR initiative. A few among these successful projects are: Titan Scholarship - for students in Dharmapuri and Krishnagiri districts (Tamil Nadu), based on academic performance and socio-economic background for over 550 students form the economically backward section Titan Township a sustainable community in Hosur (Tamilnadu), that provides housing to 1300 residents collaborating with NGOs MCA and Ashraya Employment - to over 120 physically challenged people Karigar Park a social entrepreneurship project with six parks, benefiting over 400 artisans Titan School and Titan Foundation for Education - a primary school with over 550 students, expanding to classes IX and X with a provision to accommodate 160 more students Meadow Project (Myrada) a collaborated effort with self-help groups of rural women to provide gainful employment to more than 400 rural women in and around Hosur (Tamil Nadu) Recognition of CSR: As an appreciation of its significant contribution to the community welfare, Titan Industries has received the President of Indias Award' for employing the disabled. Titan Industries, a signatory to the Global Compact, is a recipient of the prestigious Helen Keller Award and the Mother Teresa Award. The company has also been ranked as one of the top four, top ten and Top eleven companies in the Karmayog CSR Rating of Indias Top 500 Companies in December 2007, 2008 and 2009 respectively. Other noteworthy awards for CSR include:

 FICCI-SEDF Award for Social Responsibility The Rotary Club of Bangalore Award for Corporate Citizenship The PHDCII Award for Good Corporate Citizenship Ranked among the nation's best corporate citizens, Titan Industries is committed to take on the social responsibility and fulfil it with dedication. CELEBRITY ENDORSEMENT IN TITAN Aamir khan has been at the centre of all celebrity endorsement for Titan. Some of the advertisements involving him are: A couple on holiday destination gave gift of titan watches to each other. The punch line was REDISCOVER THE JOY OF GIVING. This ad was targeted on young couples to go for Titan watches as it is a precious gift that one can give. After this ad, Aamir Khan was hired for the brand endorsement and it brought a revolution in the advertisements of Titan watches. The association with Aamir Khan3 was mainly due to the brand values that both Titan and the actor are associated with. We are both known for our commitment and obsession towards perfection, quality, innovativeness, setting new trends and our market leadership."- Bijou Kurien, Chief Operating Officer (Watches), Titan Industries Ltd. in 2004 With the celebrity endorsement, TIL hoped to promote the latest trends in the industry. The idea was to make watches that would be seen as style and fashion accessories rather than just utilitarian devices. The company decided to use Aamir in brand and product communication on television and in the print and outdoor media. Aamir Khan is planning to go somewhere and his servant brings in the box containing different varieties of the Titan Watches .And Aamir Khan is amused at the variety of watches and gets confused as to which watch should he take and ultimately takes the whole box with him for the 2-day trip. This ad aimed for showing the classic varieties of the Titan watches and the main emphasis was to show us to have many Titan watches at a time. Another ad shows that when Aamir Khan is with his grandmother and tells her that he would gift her Titan Watch if she agrees to get married. Though, the grandmother is emotional

about her Late husband, but she readily agrees to get married when she comes to know that the gift is Titan Watch. The punch line of this ad was KABHI KISI MOKE PAR KABHI YUHIN. According to our perception The main aim of this ad was to show us that Titan Watch is liked by every age group and can be gifted to our near ones without any special occasion too. The last campaign was Be More. Thats Aamir Khan in the latest Titan commercial asking you to live life to the fullest. Titan has unveiled its new campaign featuring brand ambassador Khan in a new television commercial that, to quote from the brands new tagline, asks consumers to Be more everyday. The latest campaign says Stay New. It is not much publicised on television but is more seen on the companys website. SOURCE OF BRAND EQUITY Titan belongs to the TATA Group and that is the biggest source of brand equity for it. Aamir Khan being associated with the brand also has contributed to the brand equity of the company Cutting edge technology and style is another source of brand equity for Titan