brandaudittitan-120526102012-phpapp01.PPTX

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submitted by En. No. 137290592170 Arjun Vaghsubmitted toDR. ABHINAVA S.SINGH

PROJECT REPORT ON

About TITAN

Titan Industries is the world's fifth largest and India's

leading manufacturer of watches.

The Titan portfolio has over 60% share in the domesticmarket

Share in the organized watch market. To ensure a

dominant presence in the market the company has

showrooms in every nook and corner of the country thatcaters to the needs of every segment of the people.

Company History

In 1984 the company was incorporated on 26th july at Chennai.

In 1992 an MOU was signed with Casio computer company of Japan to manufacture 2million digital and

Ana-digital watches.

In 1987 the company set up a manufacturing facility at Hosur.

In 1989 the case plant at Hosur was commissioned. In 1992 over 150 models were introduced.

Competitive factors

Brand profile of TITAN

Edge

Raga

Octane

Zoop

WWF

Heritage

Orion

Nebula

Sonata

Exacta

Titan Bandhan watches

Spectra

Dash

Regalia

Fastrack

Royale

Classique

xylus

Brand PortfolioTitan Edge - Worlds slimmest watch (at 3.45mm) that epitomizes the philosophy less is more.Titan Raga - a feminine and opulent accessory for today's affluent womanNebula - watches crafted with solid 18k gold and precious stonesSonata - India's largest selling watch brand to suite the common man's walletXylys - a Swiss-made, impeccably designed watch for the connoisseur and new age achieverFastrack watches created to accessories the trendy youth of todayThe watch division also boasts of collections such as Automatic, Heritage, Nebula, Orion, Raga, Zoop and series like Aviator, Octane and WWF.

Product related attributeDistinct watches in Gold and LeatherStylish watches in Gold and Precious metalsContemporary watches in stainless steel to withstand rigors of daily lifeCasual watches for youngsters and for outdoor useJewellery watches in 18 carat Gold, studded with Gems and coloured stonesUse of plastic dials for bold and contemporary design

Product life cycle

Introduction : WWF, Orion,Zoop, Diva, Octane

Growth: Nebula, Insignia,Raga, Royal, Regalia, Edge etc

Maturity: Sonata, Fastrack, Dash

Decline: Aqura

Place

Objectives and intentions

- Broad basing their sales and marketing activities across the country.

- In terms of town coverage, dealer network and new approaches to communication strategy, especially in non metros.

- Plan and implement sales and marketing activities to achieve their targets.

- Fine tune all marketing inputs in terms of media and other budgets to meet territory specific needs.

Identify performance targets with specific centres and improve cost effectiveness of operations.

Distribution channels

Central security distribution channel (CSD)WOT-World of titan10Cont

TITAN PRICING

Pricing Objectives

1. Survival (i.e. Titan Exacta)

2. Market share (i.e. Titan Sonata)

3. Market skimming (i.e. Titan Nebula)

4. Product quality

Application of pricing strategy

1. Lower segment

2.1000 plus segment

Its objective is to obtain maximum revenue from the market before substitute product appear12 TITAN Citizen

TimexWatch Market MapRs 500100020004000500030,000 +Formal / ClassicFashion/SportySonata, HMT,MaximaEspirit, Swatch Fossil Giordano, DKNY, Carrera Tommy HilfigerRaymond WeilTissotOmega,Rado, LonginesTag Heuer Hugo BossC DiorFastrackXYLYS10000NebulaPROMOTION:-

1. Advertising

2. Sales promotion

3. Public relation

Advertising media:

Television

Print

Internet

Titan brand ambassador:

Titan Brand: Aamir Khan

Sonata: Mahendra Singh Dhoni

Raga: Katrina Kaif

Xylys: Farhan Akhtar

Titan tagline: Be more

Fast track tagline: How many you have?

Public relation

Gift concept

Promotion On Occasions

Sales promotion

Sponsorship

Promotion through Contests

Brand Element Tagline: BE MORE. WHATS YOUR STYLESubstantialityAccessibilityRepresent abilityMeasurableLikeabilityTransferableLegal ProtectionSloganJingle

The brand name TITAN is classical and is based on Greek mythology.Brand Name:Tagline: BE MORE. WHATS YOUR STYLELogo:The pervasive blue-coloured Tata logo which was planned by the Wolff Olins consultancy was given a modification to make it more Greek like , curbing the circle around to make a base and giving it black and grey colour amalgamations and so the TITAN logo was born . The logo represents indefiniteness.Brand Meaning: Titan personifies anything of size, strength, or achievement.Substantiality: This refers to the size of segmented markets. Segments should be large enough to permit viable market effort directed towards them. Titan has fully satisfied this condition as its models i.e. Psi 2000, regalia (premium segment), Classique (office wear), Fastrack (Youth) etc are all large & profitable enough to direct marketing effort towards them.Accessibility: Could be attained through the existing channel of distribution. The segments must permit the firm to direct successfully different marketing effort towards the segments. The existing channels of distribution for Titan like exclusive showrooms and shop dealers can support titans various segments.

Represent ability: Segments should be large and profitable enough to be considered as a separate market. Such segments must be representative in nature and must have individuality of their own. For example this condition is fulfilled in the kids segment, which is cornered by Dash

Measurable: The size, purchasing power, and characteristics of the segments have to be measurable. This has been clearly satisfied by titan through its pricing and branding policy. While foraying into the Youngsters and Kids segment titan was sure that this segment is already present there and just the need was to differentiate and position itself.

Likeability: The brand name is fundamentally expressive and cogent.

Transferable: The name Titan means achievement and anybody wearing a Titan is an achiever is what is communicated. It can easily be applied across all product categories and geographies.Legal Protection: The brand name is legally protected in watches.Slogan: BE MORETitan was launched in 1987 when watches were seldom stylish and catered to the basic need of knowing the time. TITAN brought in the style concept and gradually built its brand equity.Jingle: Mozarts Fifth SymphonyTitan has a typical signature tune taken from Mozarts fifth symphony. TITAN pioneered the concept of gifting watches and with the signature tune the watches caught the attention of many.Brand Associations: By being associated with Amir Khan, M.S. Dhoni, Rani Mukherjee it has clearly communicated that this watch is the choice of Leaders.16

SWOT Analysis

Titan has a domestic market

share in excess of 50 per cent,in the organized watch market.India's leading watch

manufacturer and the world'sfifth largest . Their globalsourcing and economies ofscale give a significant price

advantage and enable to offeran easy entry for consumers tothe branded world at this price

point. Here we will focus on theSWOT analysis of Titan.

STRENGTH

The Indian watch market is increasing rapidly & Titan is

the leader.

Sonata is currently India's largest-selling watch brand.

Market segments with large potential: women, youth,

children, sportsmen, the budget-conscious and, ofcourse, the big spenders.

Successful story of Fastrack, Orion, Raga, Octane,

Xylys etc. The recent launch is of thechildren's range, Dash & Nebula (Premium class).

112 'The World of Titan' across 89 Cities and a chain of

to being present in over 5545 dealer outlets in 1470towns across the country.

Customer value and offered after sales service in a

showroom environment. Proper differentiation from

other.

WEAKNESS

Titan has no such

weakness, but it has lots ofproduct in watch. Whichdont create brand equity toa particular brand.

Main USP is low costwatch.

Cant utilize properly theresources (domestic partssuppliers).

OPPURTUNITY

Growth of Indian watch market is very fast & hugeopportunity in organized watch market.

Nearly 34 million watches are sold through grey marketchannels.

The second-largest branded player in the Indian watchmarket is Timex, with a market share of around only 7%& HMT remained into losses for last 5 years.

Currently, sales in India stand at an low number of 25watches per 1,000 people, compared with 250 watchesper 1,000 people in a developed society.

THREAT

Premium international watch brandssuch as Swatch, Esprit, Tissot,Longines, Rado and Omegaentered in India.

Now that the Indian market is widely

open to importations, it will be

extremely difficult for the Indian playersto maintain a sustainable growth.

Too many players will dilute the market& the profit margin

Mobile phones acting as substitutes ofthe watches.

Brand Architecture Brand ExploratoryCustomer KnowledgeImage:TimeAmazing DesignElegantSimple and StylishTotally Inspiring, Talismanic, Amazing andNiceRemember the titans movieWatchPower of TIMEDistinct sound of their advertisementsTITANSGreek GODPerformance:RuggednessDurabilitySports:TrendyAdvanced FeaturesDigitalPeople:High-ClassFashionStyle

Customer KnowledgeImage:TimeAmazing DesignElegantSimple and StylishTotally Inspiring, Talismanic, Amazing andNiceRemember the titans movieWatchPower of TIMEDistinct sound of their advertisementsTITANSGreek GOD

Performance:RuggednessDurabilitySports:TrendyAdvanced FeaturesDigitalPeople:High-ClassFashionStyle

Brand Strategies

MultibrandsLaunched in 1998 as a sub-brand of Titan (A Tata Company), Fastrack targeted the urban youth watch market, leveraging the brand equity of Titan to enter a new category. I believe Tatas did this because Titan was a sophisticated brand and they didnt want to confuse the customers by introducing peppy, youthful products under same brand.A new brand (Fastrack) was created within same product category (watches).Brand ExtensionRealizing the potential of the Urban Youth market Fastrack was spun off as an independent brand in 2005. Indian youth responded well to the refreshingly different and affordable products. Fastrack diversified into eye gear (hired John Abraham as brand ambassador) and currently is the largest sunglass brand in the country. Further exploiting the target segment, Fastrack has now ventured into new categories of bags, accessories, belts, wallets and adventure gear.Existing brand (Fastrack) was extended to newer (sun glasses, bags, belts) product categories.Line ExtensionHuge collection of watch and eye gear under various categories introduced by Fastrack over the years, for example in watch segment army collection, sports collection, bikers collection etc.

New BrandsNo example in Fastracks context, but if tomorrow Fastrack decides to sell apparels as well it may create a new brand to enter this product category.Just try to visualize how Fastrack has been evolving as a brand over the last few years. We as customers perceived it as watch brand, then they entered sun glasses segment and now they make bags, belts, accessories. Fastrack has a vision to become a complete fashion brand for the youth. I believe Fastrack has been reinventing itself quite successfully. A new brand has been emerging out of Fastrack. With vision to become one stop shop for complete fashion for youth, Fastrack is now opening independent stores, which were initially shared with other Titan products (you might have noticed this in shopping malls). The first store was opened in Pune in 2009 and recently new stores were opened up in Guwahati, Coimbatore. Fastrack plans to have 100 such stores by 2011. 26PositioningAttribute PositioningUser PositioningBenefit PositioningCompetitor PositioningQuality or Price Positioning

SegmentOn the basis of ageFor Youth: Fast TrackFor elder: SonataOn the basis of GenderFor Men: sonata, fast track, titan, nebula etc.For Women: Raga, OctaneOn The Basis Of LifestyleFor Professional And Elders: Steel and SonataFor Students: Fast Track.

ContOn The Basis Of Income:Upper-Middle Class: Price range 20K-1LRoyal, Aurums, NebulaFor Middle Segment: Price Range Rs. 500-1500 Exacta, Fast TracksFor Lower Segments: Price Range Rs. 350-500Sonata

Conclusion

The opening of the Indian market and the arrival of

premium Swiss brands has certainly led to Indian

consumers being exposed to global brands, styles andvarious price levels. To the Indian consumers, the highprice of Swiss watches has helped them to realize thevalue of Indian brands, particularly of Titan, which offersequivalent quality, but at lower prices and with betterdistribution and service. Titan has shown itsdifferentiation, and customer centric approach whichhelped them to get the market.