Titan_ppt

TITAN : CASE STUDYSTP ; 4PS OF MARKETING; BRAND

POSITIONING; CONSUMER BEHAVIOR; CONSUMER

SATISFACTION

Presented to:-Dr.Renuka Garg

Presented by:-Sumit Chopra()Gunjan Dada (17)Jaya Dakwani(18)Shweta Dastidar(19)Amardeep Desai(20)Bhavik Desai(21)

Company Profile

Titan Industries is the world's fifth largest and India's leading manufacturer of watches. The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.

The umbrella brand Titan is one of India's leading watch brands that brought about a paradigm shift in the Indian watch market, offering quartz technology with international styling.

The Titan brand architecture comprises several collection and sub−brands, each of which is a leader in its segment.

Notable among them are: Titan Edge The world's slimmest watch which stands for the philosophy of "less is more"; Titan Raga the feminine and sensuous accessory for today's woman, Nebula − crafted in solid 18k gold and precious stones.

Several other popular collections like Heritage, Aviator, Regalia, Octane & WWF also form a part of the Titan wardrobe.

Today, the Titan portfolio has over 60% of the domestic market share in the organized watch market.

The company has 247 exclusive showrooms christened World of Titan', making it amongst the largest chains in its category backed by 700 after−sales−service centers.

The company has a world−class design studio that constantly invents new trends in wrist watches.

History

Sales and Marketing

Titan launched totally a new product; quartz analog watch was an entirely new product for India in 1987. Titan’s marketing strategy was initially built around five features: A product of international quality; Indian designs; Competitive prices; An intensive advertising and promotion

campaign; and Specialized retail shops to control the

presentation, since the general quality of watch merchandising in India was low.

STP : Segmentation The levels of market segmentation are: Segment Marketing :-

Titan has segmented its business into three main categories: Mass Mid-premium Luxury & Premium

Niche Marketing :-more narrowly defined group

In a study conducted to study the customers of watch market, it is revealed that 42% of them are youth. So, TITAN tried to target this by: introducing FAST TRACK price offering from Rs 500(affordable) watches with style statements

LOCAL MARKETING :- All the products of TITAN are addressed to

all the customers as a whole. Localized products are not available. But some products which are available in UK have some pictures of eminent personalities on their Dial like M.K. Gandhi, Mr. Jawaharlal Nehru, etc. so that the customers can identify the product with those dignitaries.

Geographic segmentation Urban and Rural

Demographic segmentation Age and life cycle stage

For the age group 12-20, brands like TIMEX, SONATA,DASH,FOOP etc.

For the age group 18-30, brands like FAST TRACK, TECHNOLOGY, SONATA, etc.

For the age group 30-55, brands like SONATA, NEBULA, RAGA, STEEL, REGALIA, EDGE,BANDHAN, etc.

Gender Sex (steel, regalia, nebula, fast track, technology, sonata, edge, flip) Gents (Edge,) Ladies (raga,raga flora) Married couples (bandhan)

Income Below Rs 500 - Between Rs (500-1500) - Between Rs (1500-3000) - Between Rs (3000-5000) - Between Rs (5000-10000) - Above Rs 10000

Psychographic Segmentation: Lifestyle

The luxury section it has NEBULA, AURUM,EDGE etc. In the mid-premium section RAGA, GOLD-STEEL, TECHNOLOGY, etc. And in the mass section, it has SONATA,TIMEX,FAST-TRACK etc .

Personality Ambitious : In sports & casual category,

76 products Authoritarian : Nebula,Edge,Orion

Behavioral Occasions : Formal (NEBULLA, STEEL, RAGA),

Dress wear (REGALIA, RAGA), Fashion (TECHNOLOGY, STEEL, RAGA, FAST TRACK) Diwali, Marriage,Birthdays etc.

Benefits : World Of Titan

TARGETING

The first is the single segment with a single product. Titan’s sub brand, Raga is targeting the upwardly mobile ladies in the upper premium segment.

Secondly, the marketer could ignore the differences in the segments, and choose to aim a single product at all segments.

For example, Sonata and Fast track brands of Titan are targeting mass and mid premium segment.

Multi-segment approach

BRANDS TARGET CONSUMER

PRICING FEATURES

EDGE SUPER PREMIUM SEGMENT

6800 Onwards

Slimmest watch

SONATA ECONOMY 400-1500

Common man watch

Heritage PREMIUM SEGMENT

5500 Onwards

Defined by names such as Jharokha,Taj,Jhantar Mantar.

RAGA DIVA SUPER PREMIUM SEGMENT

8995 Onwards

Gold finish,22 jewels

FAST-TRACK ECONOMY 400 Onwards

Youth-centric

OctaneOrionAutomatic

PREMIUM SEGMENT

5000 Onwards

Targeting Men,Contructive watches

NEBULA SUPER PREMIUM SEGEMENT

50000 Onwards

Rose-gold finish,33 jewels,Lifetime warrenty

POSITIONING

Titan initially pioneered the concept of "Gifting watches".

Titan found its persona in Mr. Aamir khan which provided the much needed edge to the brand.

Titan pushed the concept of "Matching Watches to Clothes" in the recent commercials.

“BE MORE EVERYDAY” or “REDISCOVER THE JOY OF GIVING” to name a few.

INTEGRATED MARKETING: 4Ps

PRODUCT AND PRICE STRATEGY Strong brands for each segment of

the market which suite their need and traits. For Various Age Groups For Various Type of Access/Occasions For All Level Of Community People

DISTRIBUTION STRATEGY “Watch Stores : WORLD OF TITAN” Applied three level strategy

Product Visiblilty Affordable, Available at bookstores, Boutiques, gift hopes, Malls. Youth hang-outs.

PROMOTIONAL STRATEGY

Celebrity Endorsements Amir Khan-Titan Rising and others Rani Mukherji-Titan Raga

Making the product visible :- Shifted a commodity product to fashionable & Implusive Choice ; affordable & available at unconventional location.

Attractive tag-lines. Youth & Advertisement

AGAINST THE GRAY MARKET

Tied with Timex and introduced 250 variants under the brand name of Timex with economical prices.

Extensive advertising, marketing and at the same time provided low-priced products to the practically feasible.

Got cheaper raw material to fight against gray market on price factor.

What Influences Consumer Behavior ?? Cultural Factors

Lower lowers. Upper lowers. Working Class. Middle Class. Upper Middles. Lower Uppers. Upper Uppers.

Social Factors Reference Group :-It includes family, friends, neighbour

and co-workers. Family of orientation

Husband & Wife Youth and Family

Role and Status Aamir Khan is shown with different type of watches

according to the clothes he is going to put on. Titan is associating itself with status.

Personal Factors Age and Stages in Life cycle : Aamir and

grandmother Personality and self-concept : Nebula, Quartz, Xylus

which is associating a person with his sincerity and soberness.

Lifestyle Sonata Nebula

Titan Watches: Brand Positioning Strategies

Attribute Positioning User Positioning Benefit Positioning Competitor Positioning Quality or Price Positioning

Men-Segment :Watches have joined the list of tie, deodorant and shoes to represent the occasion and flaunt your status. Dress Wear

Nebula, Regalia and Insignia. Classic Watches

Classique: Royale Spectra

Sports Watches PSI2000 Titan Fast Track

Technology Watches Technology (2350-8200)

Women Segment Dress Wear Nebula (6000-65000)- Regalia Raga and the Silver Raga

Child Segment Dash {Popeye Collection’} Zoop

CUSTOMER RELATIONSHIP:-

Delivering high customer value Titan core positioning has been durability ,but the

buyer is promised more than just durability, other includes stylish, classic, multidial model etc.

Product and service quality Titan right from the beginning stressed on the

importance of quality. E.g, tropical country like India, gold plated watches lose their shine within a few months of usage.

After recognizing this problem Titan go for vacuum technology which would increase the life of the product.

Excellence service Titan employed trained service personnal

in its service center. With excellent post service, the brand

captured the customer confident Once sales rep logs on to Office Titan , he/she can add new clients using default address input that actually improves their typing skills.

Telemarketing, post card mailing, client addressed letters and e-mail list serving to you their clients is a major function of all great marketing strategies.

Office Titan  has all these tools integrated for seamless operation.

Customer Product and Service Fulfillment From customer contact to customer product and service

fulfillment, Titan handles all procedures involved. They track their inventory and know what inventory is

required for "Invoices not Shipped“. Create commercial invoices for international shipping.

Use the automated reordering tool to order standard products that they stock. 

Value Added Services of Titan Gift vouchers from World of Titan, in denominations of

Rs 1001, Rs 501, Rs 251 and Rs. 101 are available at all World of Titan Stores across the country.

The customer can obtain a Gift Exchange Card along with the watch which entitles the recipient of the watchto exchange it for another watch of a higher value or Gift Voucher of appropriate value at any World of Titan across the country.

Enterprise Capable They create multiple passwords for their sales

representatives. Track their sales and their work performance. Office Titan security allows their sales team to harness just the program capabilities they need to do their job efficiently.

Office Titan Is sales accounting software that was developed

for business that require quotations/sales orders, marketing and billing.

Writing quotations are easy with the quotation tool. It is easy to reference a quote at a later date, because the quote stays with the client file. 

Create invoices by using the inventory tool or create a custom invoice as required.

Bibliography :-

THANK YOU..