22046549 a Project on Brand Repositioning Strategy of Titan Watches

7/26/2019 22046549 a Project on Brand Repositioning Strategy of Titan Watches

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YMTs College of Management

STUDY OF INDIAN WRIST WATCH INDUSTRY AND

REPOSITIONING STRATEGY OF TITAN WATCHES

A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OFTHE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF

MASTER OF MANAGEMENT STUDIES(2007-2009)

Submitted By

Anuranjan Jee

Roll N0.-24

Under the Guidane !"

Prof. Sachin Desh!"h

H.O.D. #$ar"e%in&'

Y$T(s Co))e&e of $ana&een%

#MT$% COLLEGE OF MANAGEMENT

Institutional Area, Sector-4, Kharghar,

Navi-Mumbai (Maharashtra)

University of Mumbai

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GUIDE CERTIFICATE

This is to certify that Mr Anuran!an "ee, #oll No-$4, stu%ent of Master of

Management Stu%ies, II year, &MT's ollege of Management of Mumbai niversity

has com*lete% his +or &S%!*+ of In*ian Wris% Wa%ch In*!s%r+ an*

Re,osi%ionin& S%ra%e&+ of Ti%an Wa%ches' un%er my gui%ance an% su*ervision for

the fulfillment of the MMS curriculum of &MT's ollege of Management, Mumbai

niversity for the aca%emic session $.-$/

To the best of my no+le%ge an% belief, this +or contains true an% com*leteinformation collecte%, stu%ie% an% com*ile% by the stu%ent himself

0rof Sachin 1eshmuh

231 (Mareting)

&MT's ollege of Management


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CERTIFICATE

This is to certify that Mr Anuran!an "ee, stu%ent of Master of Management Stu%ies-II

&ear of &MT's ollege of Management has com*lete% the *ro!ect +or title% S%!*+

of In*ian Wris% Wa%ch In*!s%r+ an* Re,osi%ionin& S%ra%e&+ of Ti%an Wa%ches

as *artial fulfillment of the re5uirement of the course curriculum of Mumbai niversity

for the aca%emic session $.-$/ The +or has been foun% satisfactory to the

e6tent that it is acce*te% as a *er5uisite to the %egree for +hich it +as submitte%

It is ho+ever un%erstoo% that the un%ersigne% %o not necessarily en%orse any

conclusion %ra+n or o*inion e6*resse% therein, but a**rove the *ro!ect for the

*ur*ose for +hich it is submitte%

Pr!"( Sahin De%h)u*h Dr( C( Ba+u

Pr!,et Guide Diret!r

AC-NOWLEDGEMENT


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7ith great *leasure an% a %ee* sense of gratitu%e I hereby acno+le%ge everyone

+ho *rovi%e% me +ith their hel*, assistance an% sustaine% su**ort +ithout +hich,

even if I have ha% %one this +or, it +oul% not have been as it has turne% out to be

Their enlightene% fee%bacs an% %irections can be sense% as the *ro!ect moves on

I am sincerely thanful to my *ro!ect gui%e, 0rof Sachin 1eshmuh, +ho

*rovi%e% me +ith all the theoretical an% *ractical in*uts for my *ro!ect 7ithout his

thoughtful su**ort this *ro!ect +oul% not have been com*lete%

I +oul% lie to use this *rivilege of mine to recogni8e the gratuitous hel* of Mr

hetan Anan% (#egional Manager, Mareting, North 1ivision, Titan), +ho gave me

an insi%er vie+ of the +orl% of Titan

0rimary %ata collection for the *ro!ect +as %one +ith the hel* of !unior

management stu%ents from colleges across Navi Mumbai I than them all for their

valuable time an% consi%erate assistance

Anuran!an "ee

$949$/

PREFACE

To%ay, a +rist+atch is consi%ere% as much of a status symbol as a %evice to tell

time In an age +hen cell *hones an% %igital *agers %is*lay tiny 5uart8 clocs, the


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mechanical +rist+atch has slo+ly become less of an ob!ect of function an% more a

*iece of mo%ern culture The In%ian +atch in%ustry began in the year :/;: +ith the

commissioning of the +atch %ivision of 2MT The first +atch mo%el manufacture% by

2MT +as the "anata mo%el in the year :/;$ 2MT +as the lea%er in the +atch

maret till the Tata's forme% Titan 7atches in association +ith Tamil Na%u In%ustrial

1evelo*ment or*oration in the year :/ ?uart8 +atches form t+o thir% of the organi8e% sector an% the rest is s*lit

bet+een mechanical an% %igital +atches @ven in the organi8e% sector, three fourth

of the sales by volume comes from +atches that are *rice% belo+ #s:

7atch is one of the consumer %urables +hose re*lacement rate is very high

The re*lacement rate of +atch is >>< =( Source: India market demographics report,

1998) This is also %ue to the fact that the estimate% scra* rate of +rist +atches is

.


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u*%ate, recalibrate, or !ust sim*ly fen% off the com*etition in an effort to better

e6*lain C+hy buy meC

Bran% *ositioning creates a s*ecific *lace in the maret for the bran% an%

*ro%uct offerings It reaches a certain ty*e of consumers an% %elivers benefits that

meet the nee%s of several ey target grou*s an% users

The actual a**roach of a com*any or bran%Ds *ositioning in the maret*lace

%e*en%s on ho+ it communicates the benefits an% *ro%uct attributes to consumers

an% users As a result, the bran% *ositioning of a com*any an%9or *ro%uct sees to

further %istance itself from com*etitors base% on a host of items, but most notably on

five ey issuesE 0rice, ?uality, 0ro%uct Attributes, 1istribution, an% sage 3ccasions

In recent times, consumerism has un%ergone a sea change onsumers

to%ay are +ell informe% about the *ro%ucts, as com*are% to earlier times 2ence, the

maret*lace has become customer centric #ecogni8ing the im*ortance of the

customers in the business structure, com*anies have starte% effecting bran%

re*ositioning e6ercises on a regular basis

In the recent times, a ma!or bran% re*ositioning e6ercise has been *lanne% by

Titan In%ustries t% in or%er to *rovi%e more to its customers The com*any has first

gone for change in logo an% tagline Then the communication strategy has been

revam*e% to convey its ne+ *osition The *resent stu%y consists of revie+ing the

*ositioning strategies of Titan +atches An analysis of re*ositioning strategies of

Titan also forms *art of the stu%y

The main ob!ective of the stu%y is to broa%ly un%erstan% the overall +rist

+atch in%ustry in In%ia Secon%arily to stu%y the bran% *ositioning an% re-*ositioning

strategy of Titan +rist +atches an% to fin% out +hether the loyal consumers of titan

+atches are a+are of the ne+ *ositioning strategies of the com*any an% ho+ they

*erceive them


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0rimary an% secon%ary sources of %ata have been ma%e use of in the stu%y

The first *art of the *ro!ect, ie, analysis of In%ian +rist +atch in%ustry an% analysis

of bran% re*ositioning strategies of Titan om*any has been com*lete% on the basis

of secon%ary %ata For this *ur*ose, internet, !ournals, boos, maga8ines an% so on

have been ma%e use of

The secon% *art of the *ro!ect com*rises of con%ucting a survey +ith the hel*

of 5uestionnaire The survey is *ro*ose% to be con%ucte% on a sam*le of G

consumers +ho are loyal to Titan om*any, selecte% through convenience sam*ling

techni5ue The 5uestionnaire consists of a**ro*riate mi6 of o*en en%e% an% close%

en%e% 5uestions The %ata is *resente% using *ie charts an% bar %iagrams

The conclusion *art of the re*ort +oul% *rovi%e an insight of consumer

a+areness regar%ing bran% re*ositioning strategies an% their effectiveness in

revam*ing the bran%, Titan

TABLE OF CONTENT

Sr( N!( T!1i% Pa2e N!(


[]


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$ The *rinci*le of re*ositioning

:G

> 0orter's Five Forces Mo%el

$

4 Titan sub-bran%s *ossesse% by

res*on%ents 44

G 0erio% of Titan +atch's use

4G

; #easons for bran% *reference

4;

. #ecall of Titan's original tagline

4.

< Ma!or a%vertisement me%ia

4 onsumer *erce*tion of ne+ cam*aign

G:


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:4 onsumer *erce*tion of store

ambience G$

:G onsumer *erce*tion of sales

*ersonnel G>

:; onsumer *erce*tion about after sales

service G>

:. onsumer *erce*tion about %is*lay of

+atches G4

:< 3verall *erce*tion about Titan

sho+room G4

Li%t !" Ta+3e%

Nu)+er Tit3e Pa2e N!(

: #easons for bran% *reference 4>

$ Ma!or A%vertisement me%ia 4G


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Chapter 1 - Introduction

4(4 The!r0 5 C!ne1t

"A business has two - and only two - basic unctions: marketing and inno!ation"

- Peter Dru*er

The ra*i% *ace of change an% intense com*etitive *ressure in to%ayDs

maret*lace %eman% that bran%s continuously innovate an% reinvent themselves to

maintain their relevance an% maret *osition In this conte6t, bran% re*ositioning an%

other revitali8ation strategies have become a business im*erative for battling bran%

erosion The a**eal of bran% re*ositioning is further heightene% by the rising costs

an% high ris associate% +ith launching a ne+ bran%


[11]
http://www.dontquoteme.com/search/quote_display.jsp?quoteID=2136&gameID=1http://www.dontquoteme.com/search/quote_display.jsp?quoteID=2136&gameID=1


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Bran% re*ositioning has receive% little attention in the mareting literature an%

has mostly been treate% as a variation of bran% *ositioning Biel, for e6am*le, has

%efine% bran% *ositioning as Cbuil%ing (or rebuil%ing) an image for a bran%C The goal

of *ositioning an% re*ositioning strategies relates to the management of consumersD

*erce*tions 2o+ever, *ositioning focuses on the creation of bran% associations -

consumersD *erce*tions of the attributes that %ifferentiate the bran% from com*etitive

offers +hile re*ositioning also im*lies managing e6isting bran% associations The

uni5ue challenge of a re*ositioning strategy, thus, lies in re!uvenating the bran%

image to mae it relevant in an evolving environment, +hile honoring the bran%

e5uity heritage

#e*ositioning can be re5uire% as the maret changes an% ne+ o**ortunities

occur Through re*ositioning the com*any can reach customers they never inten%e%

to reach in the first *lace If a bran% has been establishe% at the maret for some time

an% +ish to change their image they can consi%er re*ositioning, although one of the

har%est actions in mareting is to re*osition a familiar bran%

Accor%ing to Solomon, *osition strategy is an essential *art in the mareting

efforts because com*anies have to use the elements in the mareting mi6 to

influence the customers un%erstan%ing of the *osition 1uring the movement from

something less attractive an% relevant to+ar%s a more attractive an% relevant *osition

several of strategic choices has to be ma%e The ones res*onsible for the

re*ositioning have to evaluate +hy a re*osition is necessary, an% if the offer is the

one that +ill change or !ust the bran% name There are several ris factors that have

to be taen into consi%eration +hen *re*aring for a re*ositioning of the offering or the

bran% 1uring re*ositioning, the ris of losing the cre%ibility an% reliability is high an%

the nee% for a thorough strategy is therefore necessary to avoi% this occurrence

Some analyst argue that to successfully re*osition a establish bran% name is almost

im*ossible because re*ositioning of a bran% can mae the most loyal customer to

s+itch bran% But, in some circumstances a re*ositioning is necessary to gain

cre%ibility if the bran% is ero%e% 7henever a re*osition is in 5uestion it has to be of

relevance from a customer *ers*ective, is this achievableL Some bran%s +ill on no University of Mumbai

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account be thought on as a lu6ury bran% an% therefore an attem*t to re*osition +ill

only %amage the bran% image or the actual com*any

Numerous faile% attem*ts at bran% re*ositioning testify to the %ifficulty of

%evelo*ing an% im*lementing such a tactic For e6am*le, +hile the soft %rin bran%,

Mountain 1e+ has remaine% relevant to the youth maret through continuous

re*ositioning in its thirty years of e6istence, evisD "eans has been losing maret

share to ne+comers such as The Ha*, %es*ite numerous cam*aigns %esigne% to

re*osition the bran% as tren%y

The strategic im*ortance of bran% re*ositioning in *reserving an% enhancing

bran% e5uity, cou*le% +ith the mi6e% results of re*ositioning attem*ts, un%erscores

the nee% to %evelo* a better un%erstan%ing of the %ynamics of bran% re*ositioning

S*ecifically, 5uestions of +hether, +hen an% ho+ bran%s shoul% be re*ositione%

nee% to be a%%resse%

4(6 Literature Re/ie7

The re*ositioning strategy is rolle% out in three stagesE intro%uctory, elaboration

an% fortification stages This involves the intro%uction of a ne+ or a re*ositione%

bran%, seeing to un%erline the bran%'s value over others, an% to broa%en the bran%

*ro*osition It is truly tough to change the customer's *erceive% attitu%e to+ar%s a

bran%, an% therefore the ris is great that the attem*t to re*ositioning might be

unsuccessful

After rolling out the strategy, it is time to mo%ify the *ro*osition through u*%ate

of the *ersonality an% through re*ositioning There are benefits an% riss +ith both of

this segments an% it is of great significance that they are truly evaluate% +hen

%eci%ing the ne6t ste* in the *rocess To further un%erstan% the stages state% above,

figure: +ill gui%e you through the %ifferent *hases that follo+ after establishing a

bran% *ro*osition


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Fi2ure 48 Sta2e% in +rand %trate20 de/e3!1)ent

The im*lication +ith the term re*ositioning is that a com*any mo%ifies

something that is alrea%y *resent in the maret an% in the consumer's min% The

%efinition of re*ositioning changes %ifferent in%ivi%uals an% *rofessions To vie+ the

%ifferent %efinitions an% *erceive a greater un%erstan%ing about this conce*t, three

e6am*les of re*ositioning given by in%ivi%uals in %ifferent *rofessions is state%

belo+E

#epositioning is a change, principally about trigging the !ision, mission and !alue in

a new direction that is more suited or the brand in the uture$

%Bran% manager consultant)

&'rincipally, reposition concerns changing the consumer(s perception o the brand$

(0#- consultant)

epositioning is built upon the change o uni)ue and dierentiated associations with

the brand in some kind o direction, it is about ha!ing a balance between the category


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party and dierentiation when using reposition strategies$ (ea%ing bran% strategist)

From these %efinitions, it is obvious that re*osition is about moving something

to a ne+er an% ho*efully to a more attractive an% relevant *osition The *ur*ose of

the movement %iffers +ith regar%s to +hat the com*any +ants to achieve A com*any

might +ant to reach out to a larger target grou*, or be involve% in several %ifferent

*ositions at the maret There is also a visible relation bet+een *rice an% 5uantity

as*ects 7hen a com*any *erceives the maret as a %eman% curve, the *ur*ose is

to %o+n stretch or u* stretch in this curve 7hen moving %o+n it is often s*oen of as

an e6*ansion %o+n +ar%s, an% +hen moving u* an% there is a nee% for reaching the

*remium segment an% e6*an% u* +ar%s

Fi2ure 68 The 1rini13e !" re1!%iti!nin2

Ne+ 0osition

0rice

0revious 0osition

@6*erience% 5uality

7hen striving to+ar%s a ne+ *osition in the maret, it is im*ortant to

un%erstan% that consumer's min%s are limite% 0eo*le's min%s select +hat to

remember an% it is therefore significant to convince the consumers +ith great

arguments The maret %eman% changes ra*i%ly an% therefore re*ositioning can be

necessary to meet these %eman%s, ne+er an% stronger arguments have to be


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establishe% to convince them to stay as loyal customers

As state% in the literature, re*ositioning is a very com*licate% matter an%

therefore there are no %etaile% theories or mo%els The aim +ith re*ositioning %iffer

from *erson to *erson, an% the only connection bet+een all the %ifferent theories is

that re*ositioning is moving something from some+here to+ar%s a greater *osition at

the maret

orst!ens an% 1oyle (:/) Radia3 re1!%iti!nin2that corres*on%s to a %iscontinuous shift to+ar%s a ne+

target maret an%9or a ne+ com*etitive a%vantage

After e6amining the re*ositioning of several bran%s from the In%ian maret,

the follo+ing < ty*es of re*ositioning have been i%entifie% These areE

: Increasing relevance to the consumer

$ Increasing occasions for use

> Maing the bran% serious

4 Falling sales

G Bringing in ne+ customers

; Maing the bran% contem*orary

. 1ifferentiate from other bran%s


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It is not al+ays that these nine categories are mutually e6clusive 3ften one

reason lea%s to the other an% a bran% is re*ositione% sometimes for a multi*licity of

reasons

A four-*hase% bran% re*ositioning a**roach can be follo+e% to achieve the

inten%e% benefitsE

Pha%e I(1etermining the urrent Status of the Bran%

Pha%e II(7hat 1oes the Bran% Stan% for To%ayL

Pha%e III 1evelo*ing the Bran% 0ositioning 0latforms

Pha%e I: #efining the Bran% 0ositioning an% Management 0resentation

The benefits that can be %erive% from bran% re*ositioning e6ercises can be

summari8e% asE

Jalue over others

*%ate% *ersonality

#elevant *osition

The riss associate% +ith such strategies areE

oss of focus

Neglecting original customers

osing cre%ibility for the bran%

onfusing the bran%

Therefore, bran% re*ositioning is more %ifficult than initially *ositioning a bran%

because one must first hel* the customer unlearn the current bran% *ositioning

(easier sai% than %one) Three actions can ai% in this *rocessE (:) carefully crafte%

communication, ($) ne+ *ro%ucts, *acaging, etc that em*hasi8e the ne+

*ositioning an% (>) associations +ith other bran%s (co-bran%ing, co-mareting,


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ingre%ient bran%ing, strategic alliances, etc) that reinforce the ne+ bran%

*ositioning

This e6ercise is so critical to an organi8ation's success that the organi8ation's

lea%ershi* team an% its mareting9bran% management lea%ers shoul% %evelo* it,

*referably +ith the hel* an% facilitation of an outsi%e bran%-*ositioning e6*ert

Cha1ter 6 ; Re%earh Meth!d!3!20

6(4 O+,eti/e%

: To stu%y the current scenario of In%ian +rist +atch in%ustry

$ To revie+ the bran% *ositioning strategies of %ifferent sub-bran%s of Titan

+atches

> To analy8e the bran% re*ositioning strategies of Titan +atches

4 To stu%y consumer a+areness an% *erce*tion about the bran% re*ositioning


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strategies of Titan 7atches

This stu%y +oul% hel* titan in%ustry to un%erstan% the ga*s in its communication

strategy regar%ing bran% re*ositioning e6ercises an% the further measures to be

taen for effective mareting communications

6(6 Li)itati!n%

The stu%y is confine% to Navi Mumbai area only

There is *ossibility of sam*ling errors in the stu%y

The res*onses of the consumers may not be genuine

The 5uestions inclu%e% in the 5uestionnaire may not be com*rehensive

6(< S!ure% !" Data C!33eti!n

The relevant %ata +as collecte% from both 1ri)ar0 %!ure%an% %e!ndar0

%!ure% The starting *oint of my information gathering has been the secon%ary

sources such as internet, boos, an% !ournals an% so on

First, I ma%e a stu%y of the bran% *ositioning an% re*ositioning strategies of

Titan +atches through secon%ary sources such as internet, insurance maga8ines,

an% !ournals an% so on Then I con%ucte% a consumer a+areness survey on bran%

re*ositioning strategies un%ertaen by Titan +atches in recent times


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6(= Sa)13in2 Pr!edure

A sam*le of G consumers +ho are bran% loyal to Titan +atches since more

than a year an% in the age grou* of $ > years have been consi%ere% for this

stu%y As Titan has taen u* bran% re*ositioning strategies since "uly $ Pri)ar0 Data C!33eti!n

1ata +as collecte% through an intervie+ sche%ule, consisting of both !1en

ended and 3!%ed ended ?ue%ti!n%( The sche%ule covere% *arameters lie

reasons for consumers' bran% *reference recollection of earlier tagline an%

a%vertisement, bran% ambassa%or of Titan a+areness of ne+ tagline an% cam*aign

featuring Aamir Khan, ne+ %esigns an% so on The %ata +as collecte% through e-

mails, tele*hone contacts an% one-to-one *ersonal intervie+s

Cha1ter < ; Indu%tr0 O/er/ie7


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are falling +hich maes the In%ian maret loo attractive for the global ma!ors lie

asio, S+atch an% iti8en


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There are no such substitutes to +atch as a *ro%uct 2o+ever, in terms of the

com*anies offering various variations for +atches such as *en%ant +atches an%

!e+ellery +atches, some sort of substitution has %evelo*e% #ich consumers *refer

to *urchase +atches more as a fashion accessory rather than sim*ly for its ty*ical

use

>( De2ree !" Ri/a3r08

There are many com*anies in the In%ian +atch maret ho+ever, the *ro%uct

ranges offere% by them are manifol% This maes the com*etition very stiff Also at

the lo+er en% of the maret it is basically the Jalue for Money, +hich %ifferentiates

the *layers The strategic staes for the *ro%ucers are very high Titan t%, the

largest com*any in terms of maret share in the organi8e% sector has face% losses in

the 5uarter en%e% "une $: %es*ite increase in the maret share %ue to

macroeconomic situation 2MT face% a similar situation +hen Titan +as intro%uce%

in the :/


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1998) So, %ue to high scra* rate, out%ate% mo%els, an% the shift from the

mechanical +atches to the 5uart8 +atches it is causing a very high re*lacement

%eman% for +atches This along +ith the lo+ *enetration level re*resents the

unta**e% maret *otential for +atches in In%ia


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>G Bran% 0erce*tion for %ifferent +atches


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>; 7atch In%ustry Ma*

>. Segmentation of In%ian 7atch in%ustry

Base% on *rice

Mass (#s>G-;),

0o*ular (#s;-/),

0remium (#s/-:G),

Su*er-*remium (#s:G-


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onnoisseur segments (above #s


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Cha1ter = ; C!)1an0 Pr!"i3e

=(4 O/er/ie7

Titan In%ustries +as establishe% in :/


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The com*any manufactures over < million +atches *er annum an% has a

customer base of over

countries, *rimarily in the Mi%%le-@ast an% Asia 0acific Its after-sales-service

is itself a benchmare% o*eration +ith a net+or of .G service centers an%

amongst the +orl%Ds fastest turnaroun% times The com*any has a +orl%-class

%esign stu%io for +atches an% accessories

-ee))er+E Tanish5 is In%iaDs largest an% fastest gro+ing !e+ellery bran% +ith

a *remium range of gol% !e+ellery stu%%e% +ith %iamon%s or colore% gems

an% a +i%e range in $$t *ure gol% 0latinum !e+ellery is also a *art of the

*ro%uct range Tanish5 is one of In%iaDs largest s*ecialty retailers an% is University of Mumbai

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transforming the !e+ellery maret in In%ia 46bouti5ues in 6cities across

the country PHol% 0lusD is the recent retail offering for the mass maret +ith

*lain gol% !e+ellery selling through 4stores in 4to+ns The !e+ellery

%ivision has its o+n %esign stu%io

E+e earE Titan E0eis currently on a *ilot mo%e +ith G stores in $ cities an%

has sunglasses un%er Fastrac bran% an% *rescri*tion eye+ear consisting of

Frames, enses, Sunglasses, Accessories an% ontact enses of in-house

bran%s an% other *remium bran%s

=(< Prei%i!n En2ineerin2

The com*anyDs 0recision @ngineering 1ivision su**lies *recision com*onents

to the avionics an% the automotive in%ustry It also manufactures %ashboar% clocs

as 3@M to car manufacturers in @uro*e an% America The %ivision also *rovi%es fully

integrate% Automation solutions

=(= A7ard%

The com*any has been a+ar%e% the follo+ing %istinctionsE

Being name% the No: Bran% in the onsumer 1urables category in the

CBran% @5uityC Survey of The @conomic Times, a lea%ing In%ian financial

%aily

The Titan 1esign Team +on the &oung 1esign @ntre*reneur of the &ear

a+ar% at the %esign a+ar%s institute% by the National Institute of 1esign an%

Business 7orl%, a lea%ing In%ian maga8ine The team has +on .

accre%itations also

Both Titan an% Tanish5 have been a%!u%ge% CMost A%mire% Bran%sC as +ell

as C#etailer of the &earC by Images Fashion Forum in consecutive years


[2"]


30/60


#etail Asia an% Me%ia Maga8ine Singa*ore a%!u%ge% Titan In%ustries as

amongst the lea%ing #etailing om*anies in In%ia

Titan has +on the Bran% ea%ershi* a+ar% at the In%ia Bran% Summit

The Time 0ro%ucts 1ivision of the com*any +as a+ar%e% the "#1 ?J A+ar%

in $;

Cha1ter > ; Titan Wathe%8 Brand P!%iti!nin2 Strate2ie%

>(4 O/era33 %trate2ie% University of Mumbai

[3#]


31/60


Since its intro%uction, Titan has been *ositione% as a *remium bran%,

*rovi%ing high 5uality *ro%ucts 7ith its numerous sub-bran%s catering to %ifferent

segments, the challenge that Titan faces is to create a strong bran% image It follo+s

%ifferent *ositioning strategies these strategies can also be analy8e% as given

belo+E

Attri+ute P!%iti!nin28

7hen the com*any launche% its *ro%ucts, it +as the first to bring 5uart8

+atches to the In%ian maret The com*any successfully leverage% this to *enetrate

the maret an% gain a maret share #aga, lassi5ue an% #egalia come un%er this

strategy lassi5ue has been *ositione% as elegant cor*orate +ear that leaves a

5uiet, but %efinite im*ression an% fusion of function an% so*histication 0o+er

%ressing no+ has a ne+ +ea*onQ As Magic in gol% an% bicolor loo, the D#egaliaD

range re*resents the essence of %ress-+ear #aga has been %ifferentiate% an%

*ositione% as e6clusive +atches for +omen The #aga an% Silver #aga collection is

elegant, %elicate an% feminine +ith each *iece being truly uni5ue

U%er P!%iti!nin28

Titan caters to several user grou*s- chil%ren (the 1ash), s*orts*ersons

an% a%venturers (0SI4 an% Fastrac range) The Fastrac range is seen as

being contem*orary, stur%y an% reliable The a%vertising, *acaging an%

merchan%ising of this range is young, vibrant an% Pcool' (the a% line says ool

+atches by Titan)

Bene"it P!%iti!nin28

The Fastrac 1igital range offers the customer a functional +atch

that is also attractive The %igital +atch has a techno-gee image, but Titan sees

to %ifferentiate its offering on the basis of su*erior style an% attractiveness


[31]


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C!)1etit!r P!%iti!nin28

7ith the entry of several foreign +atchmaers into the maret, Titan

ha% to counter the threat Most of the entrants are catering to the u**er en% of the

maret- 3mega, Tissot, artier etc Titan alrea%y ha% the Tanish5 bran% in thissegment 2o+ever, it has trie% to re*osition this bran% by increasing the *rice range

to encourage more customers

Qua3it0 !r Prie P!%iti!nin28

In the overseas maret, es*ecially in @uro*e +here it is com*eting +ith S+iss

an% "a*anese +atches, it is *ositioning itself as Pvalue- for- money'E reasonably

*rice% (less than S+iss +atches an% higher than "a*anese), attractively style% an%

of goo% 5uality In In%ian maret, Sonata is a *erfect e6am*le of 0rice *ositioning,

titan came u* +ith this segment +hen it +as facing heavy com*etition from lo+er

en% segment

>(6 Men$% %e2)ent8

7ith Titan *ositioning its range of +atches as a life-style, the In%ian maret

starte% vie+ing +atch more as a com*lement to %ress than !ust a time sho+ing

machine They are also realising that, unlie other forms of art that are meant to be

a%mire%, high-en% !e+ellery +atches have that a%%e% bonusE *ractical lu6ury +ith a

function other than beauty 7atches have !oine% the list of tie, %eo%orant an% shoes

to re*resent the occasion an% flaunt your status

Dre%% Wear

Titan has three bran%s *ositione% for this segmentE Nebula, #egalia an%

Insignia

Ne/!)a0

Marete% as the "e+ellery collection from Titan, Nebula is targete% to+ar%s

affluent men +ho consi%er +earing gol% !e+ellery a symbol of status Magical blen% University of Mumbai

[32]


33/60


of most covete% of metals, Hol% an% craftsmanshi* Nebula is more of a

connoisseur +atch +ith the lo+est *rice mo%el at #sGG It is marete% as a

+atch for %iscerning in%ivi%ual *ositione% as a gol% !e+el

Re&a)ia8

Incre%ibly eye-catchingR magic in gol%

The +atch uses the uni5ue combination of gol% an% bicolour loos

re*resenting the essence of %ress-+ear In In%ia, gol%-loo is associate% +ith status

but at the same time, the silver-loo is the fashion of the %ay in international

+atches 7ith the combination of both, this +atch is targete% to+ar%s affluent

businessmen The elegant loos an% colours mae it a strong com*etitor to the

foreign bran%s lie the Tissot, 0iaget an% #a%o

This is also marete% as a +atch for gift S*ecial 7atch for s*ecial occasion,

*ositioning this as a costly gift

Insi&nia8

PThe 7orl% 7atch from Titan'

The +atch +ith fascinating %esigns an% *recision engineering +as targete%

to+ar%s the @uro*ean marets The com*le6ity of this +atch is : times more than

a regular titan +atch Though it %i%n't meet +ith much of a success in @uro*e, this

tag line an% ey+or% International are use% to *osition this +atch as a +orl%-class

+atch for international traveller +ith @uro*ean tastes

C3a%%i Wathe%

7atches that are for every-%ay use an% those +ith less frills an% more value

are classifie% as lassic +atches These +atches are normally targete% to+ar%s

mi%%le an% u**er mi%%le-income class consumers

C)assi1!e0 University of Mumbai

[33]


34/60


0o+er %ressing no+ has a ne+ +ea*onQ

Timeless elegance ca*ture% on the +rist

lassi5ueD is marete% as a fusion of function an% so*histication lassi5ue +ith its

loos fits the formal cor*orate image an% is *ositione% as a +atch for cor*orate

em*loyees This also reinforces the im*ortance of +atch along +ith the %ress +orn

These +atches are generic in their sim*licity an% fin% no real com*etitors e6ce*t

2MT

Ro+a)e0

ollection of %esigns that suit every%ay +ear

#oyale +ith its gol% *late% case an% gol%en stra*s re*resents a formal every

%ay +atch targete% to+ar%s the em*loyees +ho can't affor% multi*le +atches for

occasions The +atch inclu%es %esigns from sim*le to %ressy evening+ear

s+itching bet+een informal an% formal loos base% on the *lace an% situation

S,ec%ra8

1esigne% for those +ho loo beyon% the or%inary

This bran% from Titan e6ten%s over +i%e range of *rices from /-. It is a

classic *remium +atch +ith style, +hich boasts of combining the stur%iness of steel

+ith richness of gol% The *ositioning of the +atch is not very clear as it is targete%

to+ar%s the salary earners +ith its lo+er *rice *oint mo%els an% a**ealing mo%els

for the cor*orate e6ecutives at the higher en%

S1!rt% Wathe%

In the In%ian scenario the s*ort a+areness is not 5uite there An% the maret

is not mature enough that consumers buy s*ecial +atches for s*orting e6ce*t in the

su*er-*remium an% segments above that A s*orts +atch in the min% of an average

In%ian is a *olyami%e +atch +ith sto*+atch an% tren%y loo So there is no clear

%istinction bet+een s*orts +atches an% casual +atches But in the available maret

Time6, asio, an% Titan are ma!or*layers an% after the lifting of ?# restrictions,


[34]


35/60


+orl% famous Tag- 2eur has also entere% In%ia but in the onnoisseur segment of

s*orts +atches

PSI23330

Titan has intro%uce% a range of contem*orary 0recision S*orts +atches The

bran% is marete% as tough, out%oor, a%venture bran% (0sycho gra*hically

segmente%) #anging from


36/60


technology are the technology +atches available in the maret 7atch for time,

status has in the ne+ technology era is looe% for convenience of carrying %ata In to

the com*etitive maret +ith *eo*le +illing to *ay a *remium for that a%vantage, a

goo% number of bran%s have venture%

Techno)o&+ #245367233'0

Multi-functional +atches for the Tech-savvy

This bran% is marete% as mergers of classic elegance an% technological

mastery giving rise to multi-functional chronogra*hs using the solar *o+er This

bran% is *ositione% to com*ete against the iti8en's @co1rive

>(< W!)en$% %e2)ent

Dre%% Wear

Titan has chiefly three bran%s in this category

Ne/!)a #8333685333'6

The "e+eler's ollection

Nebula is a *recious !e+ellery +atch from Titan It is marete% as Pa magical

blen% of most covete% of metals an% engineering e6cellence' The Nebula range of

+atches is *ositione% as ob!ects of ornamentation A $: carat gol% +atch, stu%%e%

+ith gems it is targete% at the u**er most en% of the maret in com*etition +ith

bran%s such as #ole6 an% artier

Re&a)ia

#egalia range is *ositione% as @ssence of %ress +ear It is marete% as

Incre%ibly eye catchingRmagic in gol% 7ith the uni5ue combination of gol% an%

bicolor loos an% slee case, #egalia is targete% to+ar%s mi%%le-age% +omen +ho

consi%er +atch to be a status symbol an% also re*resenting their %elicacy It is

available in many *rice *oints bet+een #s:


37/60


Ra&a an* %he Si)9er Ra&a

#aga an% the Silver #aga collection are *ositione% as @thnic In%ian styling

for the so*histicate% +oman @ach *iece is truly uni5ue an% re*resents elegance,

%elicacy an% feminine The %esigns an% the bracelets re*resent tra%itional In%ian

ornaments as +ell as contem*orary style

Both the +atches are e6clusively %esigne% to a**eal to +omen more as an

ornamental *ossession than a +atch The Silver #aga has been crafte% e6clusively

for the so*histicate% +oman +ho believes in value-for-money an% +ho +ears silver

!e+ellery +ith lan

At the beginning, +hen the bran%s +ere launche%, they +ere *ositione% as

7atches for all %resses +ith changeable %ials matching the sari color But the

*ro*osition +as vie+e% +ith se*ticism an% hence %i%n't meet +ith much success

Kee*ing in min% In%ian +omen's love for !e+ellery, both these bran%s are

re*ositione% as a *erfect accessory that com*letes a +omanDs +ar%robe

Ca%ua3 Wear

Fas%rac"

The +omanDs collection *resents the all-ne+ international DFroste%D loo, +hich

is tren%y an% chic The a% line E PFastrac- Pool +atches from Titan', aims at buil%ing

the bran% aroun% the Pcool P conce*t

Fastrac is targete% at a *ersonality that is young, energetic, achievement-

oriente%, +ho sees to e6*ress her in%ivi%uality by breaing free from constraints

im*ose% by formal environments, +ithout being a rebel The *ositioning of Fastrac

for men an% +omen is almost the same

>(= Chi3dren$% Se2)ent

Titan has a bran% calle% 1ashQ for i%s These are bright, colorful +atches

targete% at chil%ren age% ;-:4 years These +atches are *rice% #s$G on+ar%s to


[3]


38/60


#s4/G an% are marete% un%er the a% lineE 7o+Q 7atches from Titan The three

main collections from 1ash inclu%e the P0o*eye ollection', +hich feature cartoon

character 0o*eye, an% his frien%s There is also a 1igital #ange, +hich has features

lie @llight, com*ass, Jelco stra*s So Titan is *ositioning 1ash +atches as PFun'

+atches for i%s Its features such as comic characters also a**eal to the frivolous

nature of the chil%ren

1ash also has a s*ecial collection for girls, +ith changeable be8el rings,

*rice% at #s$/G

There are some other +atches such as 0o*-S+atch from S+atch, +hich are

*ositione% using the same a**eal that of 1ash an% are e6*ecte% to give 1ash a

tough time at the same com*etitive *rices

Cha1ter ; Titan Wathe%8 Brand Re1!%iti!nin2 Strate2ie%

Titan In%ustries %eci%e% to revam* its flagshi* +atch bran%, Titan, +ith the

intention of maing it more youthful an% relevant to the changing times The bran%,

launche% more than $4 years ago, has un%ergone a ma!or re*ositioning e6ercise

only once before five years ago, +hen 2in%i film actor Aamir Khan +as a**ointe%

bran% ambassa%or 7hat follo+e% later +as the P7hat's &our StyleL' cam*aign,


[3!]


39/60


+hich trie% to increase +atch consum*tion *er *erson, by suggesting the use of

%ifferent +atches for %ifferent occasions

(4 Ne7 3!2! and ta23ine ; &Be M!re'

Be0!nd %t03e

No+, Titan +ants to move from style statements to *ersonality statements

Accor%ing to 2arish Bhat, chief o*erating officer, +atches, Titan In%ustries, a +atch

ought to %enote the +earer's moo% an% *ersonality 7ith the e6*losion of o*tions in

a *erson's life, our core consumer is changing An% to ee* u* +ith them, Titan has

evolve% too, he says

3n the a%o*tion of PBe More', Bhat says that that statement is su**ose% to

%enote the as*irations of consumers to mae more of their lives an% be +hatever

they +ant to be The +atch allo+s for such imaginative travels, he says

Titan's agency, 3gilvy In%ia, has %evise% a cam*aign featuring Aamir Khan

that encourages *eo*le to fin% a ne+ stran% of their *ersonality every %ay It all

starte% +ith a logo change a fe+ months ago (the same font in a re% an% +hite

combination), follo+e% by a cam*aign rolle% out no+

The a% filmo*ens on a shot of Aamir Khan sitting alone on a roller coaster,

stating, PBe born every %ay' Ne6t, he is seen chasing the sha%o+ of an aircraft on a

beach, then, sitting besi%e a truc %river, in the mi%%le of no+here, +ith a trail of

chassis trucs behin% him 2ere, he ass the vie+ers to try the a%venture of getting

off at an unno+n station, of e6*loring unno+n lan%s

As he crashes his vehicle +hile go-arting, Khan +aves to the others aroun%

him, +hile his voiceover e6*lains the im*ortance of maing one's o+n mistaes

Further on, he tals of not maing your *ass*ort *hotos last longer than three

months you nee% to constantly reinvent yourself an% a%o*t a ne+ loo every %ay

(cut to shots of Khan's varie% hairstyles an% loos in his movies, sho+n in an

ambient +ay through *osters an% T-shirts)


[3"]
http://www.afaqs.com/perl/advertising/creative_showcase/index.html?id=5554&media=TVhttp://www.afaqs.com/perl/advertising/creative_showcase/index.html?id=5554&media=TV


40/60


Shoc your reflectionQ says Khan, as +e see him +ith funny accessories

framing his face The ne6t vignette has him *racticing me%itation +hile slyly checing

out a girl +aling *ast (P@6*lore') ut to a shot of chil%ren, +ith Khan e6*laining ho+

+e as*ire% to be %ifferent *eo*le as i%s let's revive that as*iration to%ay

7earing armor (s+or% an% all), Khan reiterates, PBe Born, @very 1ay Titan Be

More'

Malvia Mehra, grou* creative %irector, 3gilvy O Mather Bangalore, says, PBe

More' *ushes *eo*le to live many lives in one 7e +ant to trigger *eo*le into

5uestioning, P7hy shoul% +e be single min%e% an% boringL Time to be multi-facete%

Khan fit the bill as 3gilvy borro+e% from his o+n life an% +or an% his nee% to

constantly e6*eriment an% reinvent himself Be it Mangal 0an%ey or agaan or 1il

hahta 2ai, Aamir al+ays manages to loo %ifferent in every role, e6*lains Mehra

So +e sho+e% him %oing things that +ere s*ontaneous, such as e6*loring *laces or

go-arting The i%ea, sim*ly *ut, is to live life to the fullest +ith Titan

The film +as conce*tuali8e% by Mehra along +ith Amit Aali, Anil Thomas,

Kun! Shah (+ho +rote the scri*t) an% N A!esh of 3gilvy In a sense, says Mehra, the

s*ontaneity in the a% is an in%ication of Titan's gra%ual shift from the ol% to the

youthful (from PMy 1a%'s Bran%' to PMy Bran%') That is the +ay many categories are

moving, she says

(6 The ad )a*in2 Aa)ir -han

The a% +as %irecte% by 0rasoon 0an%ey of orcoise Films this is 0an%ey's

thir% Titan film, the earlier t+o involve% Khan an% his assistant, *laye% by the late

Jihang Naya The first film ha% Khan confuse% about +hich +atch to match +ith

each outfit he's *acing before a tri*, +hile the secon% film sho+e% him %elighting a

girl in a mall +ith a +atch This thir% film has a much stronger scri*t than those t+o,

shrugs 0an%ey It's about bringing a min%set onto the screen +ith a better celeb-

bran% marriage University of Mumbai

[4#]


41/60


Shot entirely in hennai, the film has been shot in a +ay that suggests that

multi*le locations +ere use% for the shoot, as o**ose% to one city 7e ha% fast

*ace% shots to s*rea% the loo of the film, says 0an%ey 7hen ase% +hy hennai,

he 5ui*s, Because it +asraining in Mumbai thenQ

Several layers +ere a%%e% to the film To sho+ the as*irations of chil%ren, a

young girl +as sho+n staring at an ob!ect an%, later in the frame, you see the ob!ect

is a butterfly the girl +ants to fly

Ki%s are freer in their thining than a%ults an% +e ho*e this has been

*ortraye%, 0an%ey says @ven the last frame of the a%, +hich has Khan %resse% as

a moc +arrior (+ith an im*rom*tu utensil serving as his helmet), +as ma%e to loo

lie the man ha% ma%e use of things lying nearby in a s*ontaneous +ay

(< Ne7 C!33eti!n% and De%i2n%

S!nata$% %u+;+rand%Sonata has launche% the#u/a 6 collection, a series of colourful +atches

They are available in both casual an% formal styles to com*lement the young, ne+

loo for college or office +ear The collection has +atches for both men an% +omen

at *rice s starting at #s ;4G They are available in both gol% an% steel loos, +ith

both metal an% leather stra*s

Sonata, the +atch bran% from the Tatas, launche% the Su1er Fi+retargete%

at the sub-#s G maret in urban, semi-urban an% rural In%ia The +atches have

been %esigne% *rimarily for youth in the :;-> age grou*, an% +ill be available in a

*rice range of #s $.G to #s GG The tag line for this sub-bran% is Su1er Str!n2

Su1er St03e($


[41]


42/60


The com*any announce% >;-%egree mareting cam*aign for the ne+

offerings It also unveile% its TJ commercial featuring In%ian 31I ca*tain Mahen%ra

Singh 1honi, in a bran% ne+ avatar

Titan Ra2a HaKe3 C!33eti!n

Titan #aga has launche% the 2a8el collection, ins*ire% by the hues of nature

0rice% bet+een #s $,:/G an% #s 4,, this range com*rises five styles +ith

versions in gol%, steel an% bi-metal finish They are available as bracelets an% kadas

+ith te6ture% or *atterne% loo an% mother-of-*earl %ials

Otane

Titan has launche% the 3ctane collection of chronogra*h, multifunction an%

retrogra%e +atches for the urban man The range is %escribe% as blen%ing style an%

technology The collection has over >G styles an% is *rice% bet+een #s G, an%

#s .,G

Ne+u3a Ce3e%te

It is a limite% e%ition collection of !e+ellery time*ieces They are crafte% in :


43/60


Ne+u3a 9eu%

It is a mechanical automatic +atch in soli% gol% for men 0rice% at

#s:,:,, the limite% e%ition +atch (G *ieces) hars bac to an ol%er era of

lu6ury an% romance

The Nebula eus +atch has been crafte% using S+iss ma%e mechanical

automatic movement +ith gol% finish an% a sa**hire crystal bac cover 3ther

features inclu%e an instant start, a secon% han% sto* %evice for accurate time setting

4$ hours reserve *o+ers an% auto +in% convenience The +atch collection +as

launche% by singer an% actor, Jasun%hara 1as

Ra2a Shi))er

It com*rises of a collection of e65uisitely %esigne% stu%%e% +atches that

com*lement both In%ian-+ear as +ell as 7estern-+ear 0rice% bet+een #s $,//G

an% #s 4,4/G, the ne+ collection com*rises +atches in gol%, steel an% bi-metal

finishes

Ra2a Di/a

An e65uisite range of +atches for +omen in the Kerala maret Ins*ire% by

tra%itional Kun%an +or, this collection has been ren%ere% in a %elightfully

contem*orary form It is *rice% bet+een #s 4, an% #s :,

Titan Ne+u3a Duet C!33eti!n

Titan Nebula, the *remium :, G9- an% #s:,>G,

(= Other Strate2ie%


[43]


44/60


Titan is also trying to reach ne+ customer segments They are no+ trying to

target all a%ults in socio economic classes AOB

Titan is also looing at innovative retail strategies an% *lanne% to launch teninnovative *ro%uct collections soon

Cha1ter C!n%u)er A7arene%% Sur/e0

7.1 Data Interpretation

Titan %u+;+rand !7ned

This +as a multi*le choice 5uestion +here res*on%ents +ere ase% to choose

sub-bran%s of Titan +hich they *ossess It +as foun% that aroun% .$= of the


[44]


45/60


consumers in the age grou* of $-> years *ossess Fastrac bran%, :4= Sonata,

;= #aga, 4= Nebula an% only $= o+n 77F an% @%ge

Fi2ure =8 Titan %u+;+rand% 1!%%e%%ed +0 re%1!ndent%

Peri!d !" u%e

The res*on%ents +ere ase% to mention since ho+ long they have been

bran% loyal to Titan This +as an o*en en%e% 5uestion an% hence various res*onses

+ere receive% The minimum *erio% of use +as set as one year, as mentione%

earlier, +hile the ma6imum *erio% of use +as %etermine% For convenience, the

%ifferent res*onses are categori8e% into threeE :year 4years, 4years .years an%

.years :years


[45]


46/60


;4= of the res*on%ents fall into first category, ie, they are using Titan +atch

in the range of one to four years $4= res*on%ents are in secon% category an% the

rest :$ = are using it for more than seven years

Fi2ure >8 Peri!d !" Titan 7ath$% u%e

Rea%!n% "!r +rand 3!0a3t0

The res*on%ents +ere ase% to select the reasons from the o*tions given for

their *reference for Titan +atches For this 5uestion, multi-res*onses +ere receive%

from the res*on%ents

Ta+3e 48 Rea%!n% "!r +rand 1re"erene

Rea%!n% N!( !" re%1!ndent% (out of total

G)

Attractive %esigns >/


[46]


47/60


#easonable 0rice .

Bran% image $$

Hoo% 5uality $G

Fi2ure 8 Rea%!n% "!r +rand 1re"erene

Rea33 !" Titan$% ta23ine

Titan's tagline, before bran% re*ositioning e6ercise has been un%ertaen, +as

7hat's your style This tagline +as a%o*te% %uring first rebran%ing e6ercise in

$4

The res*on%ents +ere ase% to in%icate +hether they remember the tagline in

%ichotomous +ay, ie, as yes or no It +as foun% that only $$= of the

res*on%ents +ere able to recall the tagline an% the remaining .


48/60


Fi2ure 8 Rea33 !" Titan$% !ri2ina3 ta23ine

Titans advertisements

Titan a%vertises its +atches in almost all me%ia vehicles The a%vertisements

can be seen in TJ, maga8ines, ne+s*a*er, hoar%ings, billboar%s, ra%io an% so on

All the G res*on%ents have seen the a%vertisements of Titan +atches in

various me%ia This +as a multi-res*onse 5uestion an% the o*tions given to select

+ere restricte% to TJ, maga8ines, ne+s*a*ers, hoar%ings an% ra%io

The fin%ings of the survey have been summari8e% in a table as follo+sE

Table 2: Major dvertisement media


[4!]


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Fi2ure 8 Ma,!r ad/erti%e)ent )edia

Brand A)+a%%ad!r !" Titan

Aamir Khan is the bran% ambassa%or of Titan since $4 7hen the

res*on%ents +ere ase% to recollect the same, it +as foun% that 4; of G sam*le

si8e +ere able to correctly mention the bran% ambassa%or +hile the remaining 4 %i%

not give

any

res*onse im*lying that they are not a+are of it

Fi2ure 8 A7arene%% !" +rand a)+a%%ad!r

A7arene%% !" ne7 ta23ine &Be M!re'

The survey has reveale% that less than half of the total numbers of

res*on%ents (>;=) are a+are of ne+ tagline

Fi2ure 48 A7arene%% !" ne7 ta23ine


[4"]

T01e% !" )edia N!( !" re%1!ndent%

TJ 4;

Maga8ines $GNe+s*a*ers >;

2oar%ings :G

#a%io 4


50/60


Ne7 de%i2n% !" Titan

Titan has launche% several ne+ %esigns in $< in its e6isting collections an%as *er its *lans intro%uce% ne+ *ro%uct collections also The res*on%ents +ere

ase% to rate the ne+ %esigns as *oor, average, above average, goo% an%

e6cellent

. res*on%ents feel that their %esigns are e6cellent, >/ have rate% them as

goo% an% 4 have rate% as average

Fi2ure 448 C!n%u)er 1ere1ti!n !" ne7 de%i2n%


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Ne7 Ca)1ai2n !" Titan

The survey has reveale% that the *ercentage of res*on%ents +ho have seen

the ne+ cam*aign focussing on be more featuring Aamir Khan is G=

Fi2ure 468 A7arene%% !" ne7 a)1ai2n


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Ratin2 !" Ne7 Ca)1ai2n

The G= of the res*on%ents +ho have seen the ne+ cam*aign +ere ase% to

rate it +ith res*ect to ho+ effective the cam*aign is in ins*iring consumers to have a

ne+ loo every%ay an% be more in lives

:; out of $G res*on%ents consi%er the ne+ cam*aign to be highly effective

+hile the remaining / rate% it as effective

Fi2ure 4


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Titan$% e.3u%i/e %h!7r!!)%

The res*on%ents +ere ase% to rate Titan's e6clusive sho+rooms on G *oint

rating scale 0oor, Average, Above Average, Hoo% an% @6cellent The factors

relate% to sho+rooms that +ere *rovi%e% to the res*on%ents for rating are store

ambience, sales *ersonnel, after sales service an% %is*lay of +atches

Fi2ure 4=8 C!n%u)er 1ere1ti!n !" %t!re a)+iene

>; of the G res*on%ents have rate% store ambience as Hoo% an% . each

rate% as Above Average an% @6cellent This *roves that store ambience *lays an

im*ortant role in consumer *erce*tion of service 5uality

Fi2ure 4>8 C!n%u)er 1ere1ti!n !" %a3e% 1er%!nne3


[53]


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7ith res*ect to sales *ersonnel, >G res*on%ents rate% them as Hoo%, +hile

4 each rate% as 0oor an% Average, . res*on%ents gave rating of Above

Average

Fi2ure 48 C!n%u)er Pere1ti!n a+!ut a"ter %a3e% %er/ie

In the survey, >: out of G res*on%ents rate% after sales service as Hoo%, 4

each as Average, Above Average an% @6cellent +hile . res*on%ents rate% as

0oor

Fi2ure 48 C!n%u)er 1ere1ti!n !" Di%13a0 !" 7athe%


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Most of the res*on%ents have given high ratings to the %is*lay of +atches in

Titan sho+room $$ res*on%ents rate% it as @6cellent, $4 res*on%ents as Hoo%

an% only 4 res*on%ents gave rating of Average

Fi2ure 48 O/era33 1ere1ti!n a+!ut Titan %h!7r!!)%

The res*on%ents +ere also ase% to give overall rating to Titan's e6clusive

sho+rooms It +as foun% that out of total G res*on%ents, > rate% as goo% +hile

the remaining consi%ere% the sho+rooms to be e6cellent

Aroun% G= of the res*on%ents rate% all the variables relate% to Titan's

e6clusive sho+rooms as goo%

Su22e%ti!n% 2i/en +0 the re%1!ndent% t! i)1r!/e +rand i)a2e


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Jarie% res*onses +ere receive% for this 5uestion All the res*onses have

been summari8e% as follo+sE

Intro%uce more tren%y an% innovative %esigns

Focus on niche marets such as +oring men an% +omen

S*rea% a+areness about availability of +atches in lo+er segments as most of

the consumers feel that Titan bran% is synonymous +ith *remium +atches

Tae ste*s to change consumer *erce*tion that Titan +atches are high *rice%

Im*rove after sales service

(6 Findin2% !" the %ur/e0

The fin%ings of the consumer a+areness survey are liste% belo+E

.$= of the res*on%ents in the age grou* of $ > years *ossess Fastrac

+atch This sho+s that the *ositioning strategy of these +atches has been

goo%

Most of the consumers *refer Titan +atches for their attractive %esigns an%

goo% 5uality 2o+ever, there is a misconce*tion about *ricing of Titan

*ro%ucts among the consumers They *erceive them to be high *rice%

ogos an% taglines are rarely notice% by the +atch consumers 2ence, any

change in them also goes unnotice%

A%vertisement in mass me%ia such as television, ne+s*a*ers, an% maga8ines

are best means to s*rea% a+areness about bran%

elebrity en%orsement of +atches not only increases the visibility of the

*ro%uct but also gives an assurance to the consumers that it is of high 5uality

Titan +atches' %esigns are rate% as goo% by .


57/60


have seen the ne+ cam*aign consi%er it to be effective in conveying the

message it inten%e% to %eliver, ie, to be more in lives

The after sales service an% behavior of sales *ersonnel have been given lo+

ratings com*are% to other variables mentione% in the 5uestionnaire +ithres*ect to Titan's e6clusive sho+rooms

Cha1ter C!n3u%i!n


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The suggestions to im*rove consumer a+areness about bran% re*ositioning

strategy of Titan are as follo+sE

To increase its visibility, Titan om*any can s*onsor events similar to fashion

sho+s in +hich all latest %esigns launche% are %is*laye% This +oul% have

multi*lier effect as the latest %esigns launche% by the com*any get notice% by

%ifferent segments of the customers in varie% +ays

Tie u* +ith FM ra%io channels for remin%er a%vertisements an% informing

customers about various sales *romotion offers from time-to-time

Invest more in #O1 as customer e6*ectations are changing ra*i%ly Though

Titan has got more *ro%uct collections, it shoul% focus on intro%ucing more

varieties in alrea%y e6isting *ro%uct collections In other +or%s, having a

limite% but more %e*th in *ro%uct collections +oul% be more a%vantageous

Intro%uce e6clusive collection for +oring +omen +hich is more contem*orary

an% com*lements both tra%itional an% +estern +ear

Ma!ority of the *o*ulation in In%ia live in rural areas So, sho+rooms shoul%

be set u* at *laces nearer to them Intro%uce chea*er an% rough use +atches

for this segment

After sales service has to be im*rove% That is, the *rocess of servicing an%

re*airing of +atches shoul% be ma%e faster This can be %one by ensuring the

s*are *arts availability an% training all sales *ersonnel in Titan sho+rooms to

un%ertae these tass

Tie u* +ith international +atch bran%s an% mae them available locally

Mae use of internet to s*rea% a+areness among consumers about the

bran%

QUESTIONNAIRE

: 7hich sub-bran% of Titan +atches %o you *ossessL

a) Fastrac University of Mumbai

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b) Sonatac) #aga%) Nebulae) 3thers, *lease s*ecifyRRRRRRRRRRR

$ Since ho+ many months 9 years have you been using Titan +atchL

> 7hy %o you *refer Titan bran%La) Attractive %esigns,b) #easonable *ricec) Bran% image%) Hoo% 5uality

4 1o you remember the original tagline of Titan +atchesL If yes, *lease

mention

G 2ave you seen the a%vertisement of Titan +atchesLa) &es b) No

; In +hich me%ia have you seen the a%vertisementL a) TJ

b) Ne+s*a*erc) Maga8ines%) 2oar%ingse) #a%io

. 7ho is the bran% ambassa%or of Titan +atchesL


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(:0oor, $-Average, >-Above Average, 4-Hoo%, G-@6cellent)

a) Ambience -b) Sales *ersonnel -c) After sales service -

%) 1is*lay of +atches -e) 3verall sho+room -

13 7hat suggestions +oul% you lie to give to im*rove Titan's bran% image

among customersL

Re"erene%

Sengu*ta Subroto ($;), *rand 'ositioning: Strategies or +ompetiti!e

Ad!antage Secon% @%ition, Tata McHra+ 2ill 0ublishing om*any imite%,

Ne+ 1elhi

Ho*alarishnan 0S (e%) ($.),#ebranding: An Introduction$ IFAI

niversity 0ress, 2y%eraba%

IFAI "ournal of Mareting Management

IFAI "ournal of Bran% Management

+++mareting*rofscom

+++bran%ingstrategyinsi%ercom

+++thehin%ubusinesslinecom

+++economictimescom

22046549 a Project on Brand Repositioning Strategy of Titan Watches

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