5. Case Study Titan Customer Analysis

7/28/2019 5. Case Study Titan Customer Analysis

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Customer Analysis

of

Titan Watches


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Customer Analysis is the study ofcustomers, their characteristics,needs, expectations, and behavior.


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Brand Price Range

No. of Models

(approx)

Insignia Gents Rs. 3750 to Rs. 7750 98Insignia Ladies Rs. 1600 to Rs. 7500 89

PSI2000 Gents Rs. 1780 to Rs. 7500 61

PSI2000 Ladies Rs. 800 to Rs. 4350 36Regalia Gents Rs. 1820 to Rs. 7790 157

Regalia Ladies Rs. 1725 to Rs. 7770 168

Royale Gents Rs. 960 to Rs. 2810 123Royale Ladies Rs. 1120 to Rs. 2830 91

Classique Gents Rs. 850 to Rs. 2450 268

Classique Ladies Rs. 565 to Rs. 2930 161


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Spectra Gents Rs. 1140 to Rs. 1830 57

Spectra Ladies Rs. 650 to Rs. 1410 22

Exacta Gents Rs. 600 to Rs. 1170 48

Exacta Ladies Rs. 595 to Rs. 800 25

FasTrack Gents Rs. 550 to Rs. 1430 57

FasTrack Ladies Rs. 850 to Rs. 1050 11

Technology Rs. 2350 to Rs. 8170 55

Raga Ladies Rs. 1420 to Rs. 4000 123


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Nebula Gents Rs. 8950 to Rs.13500 8

Nebula Ladies Rs. 5950 to Rs. 6950 4

Bandhan Rs. 1675 to Rs. 8085 34

Sonata Gents Rs. 295 to Rs. 1195 200

Sonata Ladies Rs. 350 to Rs. 1100 96

Sonata

Pair

Rs. 1495 to Rs. 2000 10

Dash Boys Rs. 295 to Rs. 395 15

Dash Girls Rs. 250 to Rs. 350 13


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The Indian Watch Customer Watches are high involvement products

The consumers can be divided intodifferent categories based on the

understanding that, watches satisfy the

Maslows need forself-esteem.


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MEN!!

Elite Professionals

Traditional Businessmen

Market Savvy

Young Men

Middle Income

Higher Middle Income

Lower Income


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MEN

1. Elite / Professional class. Prefer to wear branded watches with variety of styles.

Prefers to have a small collection of watches suited to various occasions.

2. Traditional Businessmen / "Nouveaux riches".

Not much concerned by the utility of the watch, this category bears

timepieces as status-symbols to communicate their "wealth"

achievement.

They ideally prefer watches with high jewellery value, gold, diamonds,

etc.

3. Market savvy, high profile executive.

This category prefers branded and designer watches.

Cost doesn't matter much to them.

They are fashion conscious and update their choices as per the trend.

Usually foreign brands with a classic look is preferred.


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4. Middle income group (Men).

This category generally prefers to buy an all-occasion watch, preferringbranded/economical products with a "decent" style.

Most preferred watch styles are Day/Date, scratchprooof watches,waterproof watches.

This category possesses knowledge about the variety of brands available.

Very price sensitive.

5. Young men.

New generation is highly trends conscious and prefers functionalities(whether useful or not) with hot looks.

The categories most sought after are chronographs, scubas, digital, sportswatches.

6. Young men from higher middle families.

They prefer branded watches.

One young man contacted in the field survey commented: "I get respect inmy friend's circle because of the uniqueness and the value that my watchcarries."

7. Young men from lower class families.

They change watches frequently, but solely rely on the grey market, wherethey can get cheap imitations of high value brands.

The are equally trend conscious but highly price sensitive.


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Women.!

Good Disposable Income

Fashion Conscious

Confident BoldCollege Girls

Middle Income

Higher Middle Income

Young Women


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WOMEN

1.Good Disposable Income Jewelery is supposedly Indian womens prime "weakness".

They prefer gold or ornamented watches

2. Fashion Conscious

Indian women want accessories to match their different dress codes andcolours.

Prefer watches with "vibrant" colours and rich designs.

3. Confident Bold

This category prefers watches like the popular "James Bond" Omegawatch to project a "confident, bold" image.

4. College Girls

Prefer sports watches and digital watches with futuristic designs


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5. Higher Middle Income

The upper income group and upper middle class women are very

conscious about their respective choices in terms of apparels and

accessories. Designers watches are logically taking the lead in this snob value

society.

6. Middle Income

Middle class women prefer to buy an all occasion watch.

They are price conscious and prefer to buy not very expensive branded

watches.

7. Young Women

The new young women generation is hyper-conscious about their

preferences and choices, if compared to the previous generation. Widely exposed to international brand names

Highly price sensitive

They search to buy different watches according to various occasions and

dress combinations.


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Buying Behaviour


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Habitual buying

behaviour

Sonata

Regalia

Dissonance reducing

behaviour

Steel

Bandhan Raga

Variety seeking behaviour

FasTrack Flip

Complex buying

behaviour

Edge

Nebula

Many

High

Few

Low

Significant

differenceb/w brands

Degree of buyer

involvement

Types of Buying Behaviour


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HIGH HIGH HIGH HIGH MEDIUM

HIGH MEDIUM HIGH MEDIUM HIGH

HIGH LOW HIGH HIGH HIGH

MEDIUM HIGH HIGH HIGH MEDIUM

Product

design

Product

quality

Product

performance

Breadth of

product line

Depth of

product line

Reliability

Running

cost

Elite

professional

Traditional

businessmen

Market

savvy

Young Men Middle

income

Higher

middle

Income

Lower

income

LOW

HIGH

LOW

HIGH

LOW

LOW

HIGH

HIGH

MEDIUM

HIGH

MEDIUM

LOW

HIGH

HIGH

LOW

HIGH

HIGH

HIGH

HIGH HIGH

HIGH

HIGH

MEDIUM

HIGH

HIGH

LOW

HIGH

HIGH

HIGH

Men


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Elite Professionals

Traditional

Businessmen

Market Savvy

Young Men

Middle IncomeHigher Middle Income

Lower Income

Steel, Regalia, Bandhan

Nebula

Rohit Bal CollectionFasTrack, Edge, Flip

Regalia

FasTrack, Flip, EdgeSonata

Where does Titan stand


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HIGH MEDIUM HIGH HIGH HIGH

MEDIUM LOW HIGH HIGH HIGH


Product

design

Product

quality

Product

performance

Breadth of

product line

Depth of

product line

Reliability

Running

cost

Good

disposable

income

Fashion

conscious

Confident

bold

College

girls

Middle

income

Higher

middle

Income

Young

women

HIGH

HIGH

LOW

HIGH

LOW

LOW

HIGH

HIGH

HIGH

HIGH

MEDIUM

MEDIUM

HIGH

HIGH

LOW

HIGH

HIGH

HIGH

MEDIUM HIGH

HIGH

HIGH

MEDIUM

LOW

LOW

HIGH

HIGH

LOW

MEDIUM

Women


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Good Disposable

Income

Fashion Conscious

Confident Bold

College Girls

Middle IncomeHigher Middle Income

Young Women

Nebula, Bandhan

Raga, Edge, Steel

RagaFasTrack

Regalia

Edge,Nebula,Bandhan,Raga

FasTrack, Flip, Edge

Where does Titan stand


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Customer Analysis bySub-Brands


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FasTrack

Demographic Profile:

Young

Urban

upper middle class

mostly students


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FasTrack

Psychographic Profile: fashion conscious

need for new things to differentiate them

from others do little search before purchase

motivated by advertisements and

promotions

purchase behaviour is greatly influencedby their primary reference (friends) or

some aspiration group


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FasTrack

The buying process:

The search of information is restricted to

personal sources and the reference groups Also includes visits to the stores.

The alternate brands are evaluated while

visiting the different stores


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Nebula


Aimed at men and women, who are

affluent Women (higher income group) are the

dominant purchasers


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Nebula

Psychographic Profile:

Women are the dominant purchasers in

this category. Their personal characteristics influence

their purchase behviour.

Their purchase decision is influenced by

the secondary membership groups, for eg

the professional societies.


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Nebula

Buying behavior:

High involvement productcomplexpurchase behavior

Considerable amount of time is spentsearching for information about the

product and evaluation of the alternatives.

Includes many visits to the retail storesand choosing among the many brands.


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Raga


Women who are working and financially

independent. Women of upper middle class


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Raga


Independent, career oriented women,ambitious and extremely professional in their

work profile. Aimed at the working women. Itcommunicates to them, that like them thewatch is also a crossover and hence they can

identify with it. Their purchase decision is influenced by their

colleagues in their office i.e. the primarymembership group.


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Raga

Buying Behaviour:

The search for information will be restricted to

a few visits to the stores, which will alsoinclude evaluation of alternate brands.

Since the price range of these watches startsfrom Rs 3000, the search for information is not

very extensive by the target group Titan addresses this need of women to be

independent and career oriented which isdepicted quite clearly in its advertisements.


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Regalia


Men and women, who are middle aged

and are from middle income groups. The typical occupation is government

service.


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Regalia

Psychographic Profile: This target group is traditional in their outlook

They are likely to be the most brand loyal.

They are not very willing to explore new

designs and colours.

Their primary membership group will also be

wearing similar watches and hence will

influence their purchase decision.


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Regalia

Buying Behavior:

The purchase is based on value for

money and reliability. The search is limited. They will restrict

themselves to known brand retail stores

and evaluate their choices with in thoseparameters.


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Bandhan


Aimed at men and women in the upper

middle class section or above . Mostly these kind of watches are gifted

The people who would gift the pair

watches would again be upper middleclass or above


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Bandhan

Psychographic Profile: The dominant influencers in the purchase would be

the women but the choice would be influenced by thekind of people it is being gifted to and hence it iscomplex to explain the profile.

The decision makers would be of the mindset that thewatches should represent elegance with utility andshould give a feeling of togetherness and hence the

idea of gifting a pair watch.

The purchase decision is influenced by the primaryreference groups, basically because the purchase

decision is mostly a family decision


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Bandhan

Buying behaviour: High involvement product

Complex purchase behavior

High search time and evaluation of the

alternatives.

Includes many visits to the retail storesand choosing among the many brands

Also includes evaluating other options

which aren't necessarily watches.


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Edge


young or middle aged men and women

Urban Upper middle class

mostly working or engaged in some

profession and educated.


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Edge


They would like to have an edge over others interms of precision of work and being the best

at whatever they are. Like to have a cult of their own.

Believe that their watch should also representclass.

Their purchase behavior is greatly influencedby their now personality or that of an idol orideals hence they could be influenced by peergroup or an aspirational group that they aspire

to be a member of.


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Edge

The buying process:

The search of information is mostly throughpersonal sources and reference groups

Also sometimes includes visits to the storesand other secondary sources.

The data would be collected about that brand

only. The purchase would be influenced by the

alignment of the watch design with theirpersonality.


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Steel


Men who are financially independent and

are of stature in social and professionalcircles.

Educated class with reasonably high

incomes.


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Steel

Psychographic Profile: They are independent, career oriented, ambitious and

extremely professional in their work profile

Also social, fashion conscious and poised.

These men have a penchant for looks as well asfunctionality.

Hence the watches have designs that are masculine,fashionable, formal, and have features like date, day

etc in different combinations to suit different needs. Their purchase decision is influenced by their

colleagues in their office i.e. the primary membershipgroup and also the aspirational groups eg. People who

may be a level above in social status.


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Steel

Buying Behavior:.

The purchase would mostly be done in

presence of friends and would be an

individualistic purchase keeping in mind the

price.

Since the price range of these watches starts

from Rs 3000, the search for information is not

very extensive by the target group, which is a

earning and working group.


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Flip


Young or middle aged

Urban From upper middle class families

Engaged in various activities and play

different roles

They may be affluent as well


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Flip

Psychographic Profile: Purposeful and multifaceted, and value and

time conscious, these customers need a styled

way of serving various purpose while havingnot being the same.

They are motivated by advertisements andpromotions.

Their purchase behaviour is influenced by thepersonality of the buyer.

The brand loyalty would depend on how wellthe the switching of roles and personality has

been enabled by the watch.


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Flip

The buying process:

The source of information would mostly

be advertisements and actual visits to thestores.

This would further be enhanced with the

need to have a watch like that.


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Sonata

Demographic Profile: These watches are aimed at the rural masses.

The price range of theses watches caters to all

income levels.


The rural population is traditional and they arenot open to experimenting with new brands orstyles. Hence, they contact their local dealerand will depend on the shop keepers word andadvice.


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Sonata

Their purchase behavior is only

influenced by their primary membership

group which consists of their family andfriends.

It is also affected by the aspirational

group to which they desire a membership. In this social class, influence on the

purchase behavior also affects the brand

5. Case Study Titan Customer Analysis

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