PPT on Marketing and branding of Titan Products

Marketing and branding of Titan Products

1. The Titanic Success Presented by Rahul Jain Anurag Lad Onkar Rane

2. GIST OF CASE(SUMMARY ) The case explains the success story of Titan co. This is a story of new entrant challenging and confronting the former leader and successfully displacing it and emerging as the new leader. Titan , country's leading watch brand from the Titan Industries Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation ( TIDCO). TITAN CO. claimed that its watch division has a domestic market share of over 70 % in the organized market.

3. According to this case study :- Quartz is the fastest growing segment of the watch industry in India . Titan acquired the leadership position against the former leader HMT. “Innovative product strategy” Varieties over 500 Quartz in different quality, fashion, style and models. E.g.. Classic, Royal, Exacta & Fastrack range. Titan provided a product that combined quality and fashion extremely well. Product Positioning- Taste and lifestyle rather than as a time telling device.

4. To match the positioning Titan experimented with distribution, pricing & promotion strategies. Pricing Place (Distribution strategy) showroom concept and franchising (exclusive decor, ambience and staff ) Promotional strategy (Aggressive approach) Is your wrist still living in the past? You can have a choice of 700 models. No wonder over 10m people have chosen a Titan.

5. The most successful strategic move was its tie up with Timex . The ideal corporate gift. Going Global (Titan International marketing ltd.) – first Indian company to export watches. Established a co. in the Netherlands to control over E urope, USA and Middle east. After Titan which is the India’s 2 nd watch brand today ? By A & M, Titan was rated as the most admired consumer durable marketing co. in India.

6. LEARNINGS Titan’s confrontation strategy complete in all respects – High quality & technology, Innovation in product, Varieties of model, High profile promotion, Showroom led distribution, Enviable marketing. Since Titan entered very early in the market so as per porters five force model they got competitive advantages in all 5 five aspects.

7. Learning's on a 4 p’s based on case study Product - The two way product strategy was followed. Product Mix strategy product width - Time product, Eyewear, Jewellery . product length - Time product : FastTrack, Raga, Sonata, Z oop , B andhan , Purple. Eyewear : Frames, lenses , contact lenses , sun glasses. Jewellery : Tanishq , Gold plus, zoya . product depth : product variation in all category

8. Price - Titan prices according to the features and value. Pricing Objectives - Survival & Market share Product Pricing method 1. Mark-up pricing- The markup percentage could be based on other cost-related factors and may vary from 20 to 500%. 2 . Product line pricing- Price of the product based on their brand category. For example, Titan watches price varies from 350 to 800 rupees. 3 . Promotional pricing- Every year Titan comes with a price discount sale on the MRP of the watches

9. Place - showroom concept and franchising Promotion – Advertising Sales promotion Public relation On Occasions Sales promotion Sponsorship Seasonality Corporate gifts Titan brand ambassador: Titan Brand: Aamir Khan Sonata : Mahendra Singh Dhoni Raga : GulPanag , RaniMukherjee Rahul Bose Public relation Gift concept

10. CURRENT SENARIO W atch market with an income of Rs.1266.46 Crores. H ealthy growth of 23.3% and enhanced market share to 45.1%. Launched new ‘Purple’ range of watches. Untapped market waiting - 600 people in India do not wear a watch. Titan has 60-65% market share in wrist watch segment. Firm launches its first integrated store in Bhopal, offering watches and eye care products under one roof. Despite competition, the wrist watch market is growing annually by nearly nine per cent. The new integrated store has two sections 'World of Titan' and 'Titan Eye Plus’ and houses national and international watch brands and eyewear frames and sunglasses. On the occasion, the company also launched its latest 'Autumn Winter Collection' of time pieces .

11. INDUSTRY The  Quartz Crisis , (also known as the  Quartz Revolution ),  is a term used in the  watch making  industry to refer to the economic upheavals caused by the advent of quartz watches in the 1970s and early 1980s, which largely replaced mechanical watches . The majority of world watch production shifted to Asian companies that embraced the new technology.

12. CURRENT SCENARIO TITAN is expanding with new divisions year by year Watches Jewelry Accessories Precision Engineering Eyewear

13. WATCH Titan watches account for more than 6 0% market share Titan watches sold in about 32 countries Titan has claimed to have manufactured the world's slimmest wrist watch branded as Titan Edge 16 Nov 2011, Titan Industries acquired Swiss watch maker Favre Leuba  for Euro 2 millions.

14. JEWELRY Titan manufactures and sells it through three types of stores based on the segment of the society they target at - Tanishq , Zoya and Goldplus . Tanishq started in 1994 and challenged the established family jeweller system prevalent in India. In India, Tanishq has country wide presence In November 2012, Tanishq reached a landmark when it opened its 150th showroom in India Tanishq is one of the major Tata brands with a strong appeal for women.

15. EYEWEAR I n March 2007, Titan entered the prescription eyewear segment under the brand name Titan Eye+. Titan has set up its own lens manufacturing lab Titan Eye+ offers wide range of stylish and contemporary eyewear through exclusive optical stores across the country. Titan Eye + is in sync with Tata ‘s principles of quality and trust Eyewear offers international quality standards and practices

16. PRECISION ENGINEERING It is Division of Titan was started in 2002 to manufacture parts for automotive and aerospace Industries. The product range includes pointers, dashboard clusters like  fuel gauge, temperature gauge, gear shift indicators, clocks, injection molded plastic parts,  electromechanical assemblies for automobiles and  press tool, molds, jigs, fixtures for other industries .

17. RECOMMENDATIONS JRD Tata said : "If Quartz is the future, why invest in past technology ?“ Brand Trial Reminder Brand recall and continuous reminding ads leads to purchase behavior . Keep focusing on innovations. Appointing a brand ambassador having a global appeal. Provide quick and excellent post-sales service. Showroom should reflect as luxuries.