Marketing of Titan

1. Overview:
Titan Industries was established in 1984 as a joint venture
between the Tata Groupand the Tamil Nadu Industrial Development
Corporation.The company brought about a paradigm shift in the
Indian watch market, offering quartz technology with
internationals t y l i ng , ma n u f a c t u r e d i n a s t a t e - o f - t he - a r t f a c t o r y
a t Ho s u r , T a mi l N a d u . L e v e r a g in g i t s understanding of different
segments in the watch market, the company launched a
secondindependent watch brand-Sonata, as a value brand to those
seeking to buy functionally styledw a t c h e s a t a f f o r d a b l e p r i c e s . I n
a d d i t i o n i t f o c u s e d o n t h e y o u t h w i t h i t s t h i r d b r a n d – Fastrack.
It has also premium fashion watches by acquiring a license for global
brands suchas Tommy Hilfiger and Hugo Boss, while. It has also i n its
portfolio its first Swiss Madewatch 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 diversifie d into
fashion Eyewear by launching Fastrack Eye-Gear sunglasses, as well
as Prescription Eyewear. The Company leveraged its manuf acturing
competencies and branched into Precision Engineering Products and
Machine Building from2003.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.

2. Products:
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 Hosur, Dehradun, Roorkee and Baddi in
Himachal Pradesh and an ECB plant in Goa. Its main products are:
Watches: Currently manufactures four main watch brands
viz.Titanfor the premiumsegment,Fastrack– focused on the youth and
trendy fashion space,Sonatafor them a s s ma r k et a n d Xylysf or th e
p r e mi u m ma r k et . T h e Ti ta n b r a n d a r c h i t ec tu r ec omp r i s es
s ev er a l s u b -b r a n d s , e a c h o f wh i c h i s a l ea de r i n i ts s e g m en t .
N o ta b l e among them are:Titan Edge– T h e wor ld ' s s li mm es t
wa tc h wh i c h s ta n ds f or th e 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 likeWall Street, Heritage,Regalia,Octane, Orion, Diva,
Zoop, WWFand theAviator series, all of which form a part of the
Titanwardrobe. Sonata is todayIndia's largest watch selling brand
and is priced between Rs 295/- and Rs 1200/-. Thecompany's first
Swiss Made watch – Xylys is for the hi-end connoisseur and new
ageachiever. It also marketsTommy Hilfigerwatches under a licensing
arrangement andis introducingHugo Boss. Today, the Titan portfolio
has about 65% of the domestic market share in the organized watch
market.
Jewellery: Ta n i s h q i s In di a 's la r g es t a n d fa s te s t g r o wi n g
j e w el l er y b r a n d w i t h a premium range of gold jewellery studded
with diamonds or coloured 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 speciality retailers and is transforming the
jewellery market in India 102 boutiques in 72 c i ti es a c r os s th e
c ou n tr y . ‘ G ol d P l u s ' i s th e r ec en t r e ta i l o ff er i n g f or t h e ma s s
m a r k e t w i t h p la i n g ol d j e w el l er y s e l li n g t h r ou g h 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
2cities and hass u n g la s s es u n d er F a s tr a c k b r a n d a n d
p r es c r i p ti on ey ew ea r c on s i s ti n g o f F r a m es , Lenses, Sunglasses,
Accessories andContact Lenses of in-house brands and
other premium brands.
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 m a n u f a c t u r e r s i n E u r o p e a n d A m e r i c a . T h e
d i v i s i o n a l s o p r o v i d e s f u l l y i n t e g r a t e d Automation
solutions.

4. Brand Positioning
Since its introduction, Titan has been positioned as a premium
brand, providing highquality products. With its numerous sub -
brands catering to different segments, the challengethat Titan fa ces
is to create a strong brand image. It follows different positioning
strategies,these strategies can also be analysed as given below:
Attribute Positioning: 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 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 b i c olo u r l oo k , t h e 'R eg a li a ' r a n g e
r ep r es en ts t h e e s s en c e of dr es s -w ea r . R a g a h a s b een
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: Titan caters to several user groups- children
(the Dash), sportspersons and adventurers (PSI4000 and Fastrack
range). The Fastrack 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”).
Competitor Positioning: 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 increasin g
the price range to encourage more customers.

5. Price Positioning : 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.
Market Segmentation
Men’s segment:
With Titan positioning its range of watches as a life-style, the
Indian market started viewing watch more as a complement to dress
than just a time showing machine. They are also realising that,
unlike other forms of art that are meant to be admired, high-end
jewellery watches have that added bonus: practical luxury with a
function other than beauty. Watches have joined the list of tie,
deodorant and shoes to represent the occasion and flaunt your
status.
Nebula:
M a r k e t ed a s th e “ J e w el l er y c ol l ec ti on fr o m Ti ta n ” ,
N e b u la i s ta r g e te d t owa r ds affluent men who consider wearing
gold jewellery a symbol of status. Magical blend of most coveted of
metals, Gold and craftsmanship; Nebula is more of a connoisseur
watch with the l o w es t p r i c e mo d el a t R s .5 5 0 0 . I t i s m a r k e t ed a s
a “ wa tc h for di s c e r n i n g i n di v i du a l ” positioned as a gold jewel.
Regalia:
“Incredibly eye-catching…. magic in gold”.
The watch uses the unique combination of gold and bicolour looks
representing theessence of dress-wear. In India, gold-look is

6. associated with status but at the same time, thesilver -look is the
fashion of the day in international watches. With the combination of
both,this watch is targeted towards affluent businessmen. The
elegant looks and colours make it astrong competitor to the foreign
brands like the Tissot, Piaget and Rado.
T h i s i s a ls o ma r k e t e d a s a wa tc h f or g i f t “ Sp ec i a l W a tc h
f or s p ec i a l oc c a s i on ” , positioning this as a costly gift.
Insignia:
‘The World Watch from Titan.’The watch with fascinating
designs and precision engineering was targeted towardsthe
European markets. The complexity of this watch is 10 times more
than a regular titanwatch. Though it didn’t meet with much of a
success in Europe, this tag line and keywordInternational” are used
to position this watch as a world-class watch for
internationaltraveller with European tastes.
Classique:
“Power dressing now has a new weapon!”
“Timeless elegance captured on the wrist.”
Classique' is marketed as a fusion of function and
sophistication.
Classique with its looksfits the formal corporate image and is
positioned as a watch for corporate employees. Thisalso reinforces
the importance of watch along with the dress worn. These watches
aregeneric in their simplicity and find no real competitors except
HMT.
Spectra:
“Designed for those who look beyond the ordinary”. T h i s
b r a n d fr o m Ti ta n ex t en ds ov er wi d e r a n g e o f p r i c e s fr o m 9 0 0 -
7 0 0 0 . I t i s a classic premium watch with style, which boasts of
combining the sturdiness of steel with richness of gold. The
positioning of the watch is not very clear as it is targeted towards

7. thesalary earners with its lower price point models and appealing
models for the corporateexecutives at the higher end.
Sports Watches:
In the Indian scenario the sport awareness is n ot quite there.
And the market is notmature enough that consumers buy special
watches for sporting except in the super-premiumand segments
above that. A sports watch in the mind of an average Indian is a
polyamidewatch with stopwatch and trendy look. So th ere is no clear
distinction between sportswatches and casual watches. But in the
available market Timex, Casio, and Titan are major players and
after the lifting of QR restrictions, world famous Tag - Heur has also
enteredIndia but in the Connoisseur segment of sports watches.
PSI2000:
Titan has introduced a range of contemporary Precision Sports
watches. The brand ismarketed as tough, outdoor, adventure brand.
(Psychographically segmented) Ranging from800 to 7500, these
watches are in direct competition with foreign brands like Swatch
Irony.
Casual Wear:
The segment of watches that has a variety of brands and
models to appeal to the youthand mentally young people is casual
wear. The watches in this segment are mainly sportywatches, which
are unconventional and typically symbolize the attitudes of younger
generation.
Titan Fast Track:
“Cool watches from Titan”.The target audience for this watch,
in the 20-35 age groups include working adults and postgraduate
students of both sexes in metros and mini metros. T he Fast Track
user, in termsof attitude is one who wears an informal dress, wears
branded jeans, shirts, sunglasses and branded informal shoes. The
Fast Track personality is that of a young, energetic,achievement
oriented person, who seeks to express his or her individuality by

8. braking freefrom constraints of formal environment, without being a
rebel. Built around the Coolconcept, this watch from Titan has
virtually very few competitors because no one offers thefeature
combination and price but Casio (in digital range) and Espirit and
Swatch (in theanalog range) can be considered as competitors
feature-wise.
Technology Watches:
Wrist Watches have changed a lot from the inception - a time
showing conveniencemachine to a status symbol. But the underlying
concept remained unchanged, convenience.Stretching this concept a
bit with the development of technology are the technology
watchesavailable in the market. Watch for time, status has in the
new technology era is looked for convenience of carrying data. In to
the competitive market with people willing to pay a premium for
that advantage, a good number of brands have ventured.
Women’s segment
Dress Wear
Titan has chiefly three brands in this category.
Nebula (6000-65000)-
“The Jeweller’s Collection” Nebula is a precious jewellery watch
from Titan. It is marketed as ‘a magical blend of most coveted of
metals and engineering excellence’. The Nebula range of watches is
positioned as objects of ornamentation. A 21 carat gold watch,
studded with gems it istargeted at the upper most end of the market
in competition with brands such as Rolex andCartier.
Regalia
Regalia range is positioned as “Essence of dress wear”. It is
marketed as “Incredibly eye catching…magic in gold”. With the
unique combination of gold and bicolour looks andsleek case,
Regalia is targeted towards middle-aged women who consider watch

9. to be a statussymbol and also representing their delicacy. It is
available in many price points betweenRs.1800 onwards.
Raga and the Silver Raga
Raga and the Silver Raga collection are positioned as “Ethnic
Indian styling for thesophisticated woman”. Each piece is truly
unique and represents elegance, delicacy andfeminine. The designs
and the bracelets represent traditional Indian ornaments as well
ascontemporary style.
Fastrack
The woman's collection presents the all-new international
'Frosted' look, which istrendy and chic. The ad lin e: ‘Fastrack- ‘Cool
watches from Titan’ aims at building the brand around the ‘cool
‘concept.Fastrack is targeted at a personality that i s young,
energetic, achievement-oriented,who seeks to express her
individuality by breaking free from constraints imposed by
formalenvironments, without being a rebel. The positioning of
Fastrack for men and women isalmost the same.

10. New logo and tagline - “Be
More”Beyond style
Now, Titan wants to move from style statements to personality
statements. Accordingto Harish Bhat, chief operating officer,
watches, Titan Industries, a watch ought to denote thewearer’s mood
and personality. “With the explosion of options in a person’s life, our
coreconsumer is changing. And to keep up with them, Titan has
evolved too,” he says.On the adoption of ‘Be More’, Bhat says that
that statement is supposed to denote theaspirations of consumers to
make more of their lives and be whatever they want to be.
“Thewatch allows for such imaginative travels,” he says.Titan’s
agency, Ogilvy India, has devised a campaign featuring Aamir Khan
thatencourages people to find a new strand of their personality
every day. It all started with a logochange a few months ago (the
same font in a red and white combination), followed by acampaign
rolled out now.The ad filmopens on a shot of Aamir Khan sitting
alone on a roller coaster, statin, ‘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
behindhim. Here, he asks the viewers to try the adventure of getting
off at an unknown station, of exploring unknown lands .

11. Consumer Awareness
It was found that around 72% of the consumers in the
agegroup of 20-30 years possess Fastrack brand, 14% Sonata, 6%
Raga, 4% Nebula and only 2%own WWF and Edge

12. Period of use
The respondents were asked to mention since how long they
have been brand loyal toTitan. This was an open ended question and
hence various responses were received. Theminimum period of use
was set as one year, as mentioned earlier, while the maximum
periodof 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 therange of one to four years. 24%
respondents are in second category and the rest 12 % areusing it for
more than seven years.

13. 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 therespondents.
Reason % of Respondent
Attractive design 78%
Reasonable price 14%
Brand image 44%
Good quality 50%

14. Titan’s advertisements
Titan advertises its watches in almost all media vehicles. The
advertisements can beseen in TV, magazines, newspaper, hoardings,
billboards, radio and so on.All the 50 respondents have seen the
advertisements of Titan watches in variousmedia. This was a multi -
response question and the options given to select were restricted
toTV, magazines, newspapers, hoardings and radio.The findings of
the survey have been summarized in a table as follows :
Media No. of respondents (as %)
TV 82%
Magazine 50%
Newspaper 72%
Hoardings 30%
Facebook 40%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
TV Magazine Newspaper Hoardings

15. Conclusion
The suggestions to improve consumer awareness about brand
repositioning strategy of Titan are as follows:
•To increase its visibility, Titan Company can sponsor events similar
to fashion showsin which all latest designs launched are displayed.
This would have multiplier effectas 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 customersabout various sales promotion offers from time-
to-time.
•Invest more in R&D as customer expectations are changing rapidly.
Though Titan hasgot more product collections, it should focus on
introducing more varieties in alreadyexisting 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 andcomplements both traditional and western wear.
•Majority of the population in India live in rural areas. So,
showrooms should be set upat 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 repairingof watches should be made fas ter. This can be
done by ensuring the spare partsavailability and training all sales
personnel in Titan showrooms to undertake thesetasks.
•Tie up with international watch brands and make them available
locally.
•Make use of internet to spread awareness among consumers about
the brand.

16. TITAN
Kallol Kumar Sarkar
2011096
Sec- B
Marketing Management –II
Institute of Management Technology, Nagpur