IMCADVERTISINGPLAN&BRAND
STUDYFORTITANWATCHES
Group 9
ARCHANA M
JAIKESH K
JAISHANKAR K
KAMALA PRIYADARSINI S
VIVEDHINI J B
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TABLE OF CONTENTS
EXECUTIVE SUMMARY ......................................................................................................... 1
CHAPTER 1 ........................................................................................................................ 3
COMPANY PROFILE .............................................................................................................. 3
Watches & Accessories .............................................................................................................. 3
Titans History ........................................................................................................................... 4
About Titan Watch Industry & Products ...................................................................................... 5
SWOT Analysis .......................................................................................................................... 5
CHAPTER 2 ........................................................................................................................ 7
SITUATIONAL ANALYSIS ..................................................................................................... 7
HISTORICAL CONTEXT .............................................................................................................. 7
TITAN AD CAMPAIGN #1: JOY OF GIFTING................................................................................ 7
Back in 2013: Re-discover the joy of giving .............................................................................. 14
CHAPTER 3 ...................................................................................................................... 15
HOW THE BRAND EVOLED FROM 1987 .............................................................................. 15
TITAN AD CAMPAIGN #2(1990S) ............................................................................................ 16
TITAN AD CAMPAIGN #3 ........................................................................................................ 16
TITAN AD CAMPAIGN #4 ........................................................................................................ 17
TITAN AD CAMPAIGN #5 RAGA ............................................................................................ 18
TAKEAWAYS FROM BRAND STUDY .................................................................................... 22
CHAPTER 4 ...................................................................................................................... 24
INDUSTRY ANALYSIS ......................................................................................................... 24
MARKET ANALYSIS ................................................................................................................. 26
CHAPTER 5 ...................................................................................................................... 34
COMPETITOR ANALYSIS .................................................................................................... 34
CHAPTER 6 ...................................................................................................................... 37
OBJECTIVES OF ADVERTISING CAMPAIGN ....................................................................... 37
TO CHECK THIS AD WORKS OR NOT?...................................................................................... 37
BUDGETING ........................................................................................................................ 37
CHAPTER 7 ...................................................................................................................... 39
STRATEGY .......................................................................................................................... 39
EXECUTION ........................................................................................................................ 39
CREATIVE BRIEF ..................................................................................................................... 39
MEDIA PLAN ........................................................................................................................... 39
EVALUATION ...................................................................................................................... 39
CONCLUSION...................................................................................................................... 40
REFERENCES ...................................................................................................................... 41
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EXECUTIVE SUMMARY
Titan watches, Indias largest organised watch retailer, controls 55% of Rs. 5,000
Crore organised Watch market as per data posted in Business standard on August
20131. Growth of Indian watch industry is expected to be around 20-25% in terms
of Value. For the last quarter-ended December 2013, Titan Watch segments value
saw a growth of 7.5% year-on-year whereas volumes declined by 10%.
The Market share of Titan Watches has been around 70% in 20122.
In 2012-13, Titan Watches grew by 9.6% to Rs. 1,675.87 Crores. Reason for decline
in growth is attributed to Less Wedding dates compared to 2011-12. Malls and
Department stores also witnessed lower walk-ins. The brand continued its strong
presence on the social media network through innovative digital campaigns, which
led to increase in its fan base on Facebook to 5.9 million3.
Titan Watches Segment and Target focused
Market Targeted Brands
Premium Xylys
Middle-End Titan, Zoop, Fastrack
Mass Market Sonata
Our main study is focused on Titan (Middle-End).
In Titan, Raga was the sub-brand which contributes more to the total turnover
during 2005 and it was increasing till 2007. Still major promotions were focused on
Raga, where Katrina Kaif has been hired as Brand Ambassador. Previously it was
done Rani Mukerjee. During 2005, Titan used Raga as the key driver for the entire
brand. Women's watches contribute 34% to the total turnover. Of these, watches
priced Rs.1,500 and above were branded Raga and accounted for 24%.4
As of now there are 11 sub-brands under Titan Brand alone apart from Fastrack,
Zoop, Xylys, and Sonata.
Under this brand there are some sub-brands and they are,
1 http://www.business-standard.com/article/management/titan-readies-own-brand-in-premiumisation-bid-113081301080_1.html 2 http://archive.indianexpress.com/news/titan-claims-70--market-share/969828/ 3 Titan Industries Limited Annual Report 2013 4 http://www.thehindubusinessline.in/2005/11/03/stories/2005110301990800.htm
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Titan Tagged (2013)
Titan Octane
Titan Purple (2011)
Titan Raga (1992)
Titan Steel (2001)
Titan Orion
Titan HTSE (2011)
Titan Edge (2002)
Titan Automatic (2009)
Titan Regalia (2001)
Titan Bandhan (2003)
Titan was launched as a joint venture between the Tata Group and the Tamil Nadu
Industrial Development Corporation in 1984. The main players during that period
were HMT and Allwyn.
Their first commercial Ad was launched in 1987 which was still known for its Music.
Chosen by Xerxes Desai, founder of Titan Industries in 1984 and the creative head
of O & M in 1987 for its class and western vibes, the segment from Mozart's 25th
Symphony has arguably become Indian Advertising's most memorable track. Starting
in 1987 in its pure classical versions, this music has been rendered in countless
innovative versions over the years.
In this report we have studied the brand for past 25 years and we have done an
advertising plan based on it. Titans classic is Joy of gifting and our proposed plan
is to extend to Joy of gifting through Gratefulness.
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CHAPTER 1
COMPANY PROFILE
Titan Company becomes a boon to the Indian watch market when it introduced its
quartz technology. With India's two most recognized and loved brands Titan and
Tanishq to its credit, Titan Company is the fifth largest integrated own brand watch
manufacturer in the world.
Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial
Development Corporation.
Watches & Accessories
After Sonata, a value brand of functionally styled watches at affordable prices,
Titan Company targeted the youth segment with Fastrack which is trendy
Titan Company brought international brands into the Indian market.
Tommy Hilfiger, FCUK, Timberland & Police as well as the Swiss made watch
Xylys
In addition the company retails personal accessories such as bags, belts,
wallets and most recently perfumes under Skinn Brand.
Titan Company has Indias largest retail network spanning over 218 towns
and 367 exclusive World of Titan' showrooms
Titan Company continues to grow and set new standards for innovation and
quality.
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Titans History
Titan now is the world's largest integrated own brand manufacturer of watches. A
major brand player, Titan stakes claim to 60% of the organized watch market, with
over 150 million pieces sold across 32 countries collectively.
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About Titan Watch Industry & Products
Being the world's fifth largest integrated own brand watch manufacturer,
Titan Company has manufactured and sold more than a 150 million pieces the world
over. The Titan portfolio owns over 60% of the domestic market share in the
organized watch market.
The new brand philosophy of Titan, encapsulated in the catchphrase 'Be More',
touches this as well as all other aspects of the brand.
The Titan brand architecture comprises several collections and sub-brands, each of
which is a leader in own space. Notable among them are:
Titan Edge - world's slimmest watch based on the philosophy 'less is more,
Titan Raga - feminine and sensuous accessory for today's woman,
Nebula - crafted with solid 18k gold and precious stones.
Several other popular collections like Purple, Orion, Automatic, Bandhan, Octane,
Obaku, HTSE and Zoop also form a part of the Titan portfolio.
SWOT Analysis
Strength
One of the worlds top five and Indias biggest watch manufacturer
Different sub-brands under the brand Titan have been successful in their
positioning based on Demographic segmentation
The quality of watches is impressive.
Innovation is core to its strategy.
Visual Merchandizing has been Titans strength ever since its inception.
Good retail network by WORLD OF TITAN
International tie-ups with Hugo Boss and Tommy Hilfiger.
Titan watches are exported in over 40 countries
Weakness
Rural India does not form a substantial part of customer base.
Kids are fascinated with mobile phones rather than watches and incidentally,
they show the time.
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High cost operation due to high labour costs is major factor in sales turnover
also.
Opportunities
India is an under penetrated market for watches
Global expansion and tie-ups with global watch and Jewellery brand.
It also viewed as an individuals taste and style than a mere timekeeping
device.
With a changing consumer attitude, people like to possess multiple watches
for different occasions and events.
Threats
From competitors:
o Japanese- Citizen, Casio
o Swiss- Rolex, Omega, Rado, Tissot, Tag Heur, etc.
o Chinese watches
Mobile phones and wall clocks are a substitute to watches.
The fashion trend keeps on changing
Keeping the same trend over long period of time could saturate customers.
Hence, resulting in weaker product life cycle.
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CHAPTER 2
SITUATIONAL ANALYSIS
HISTORICAL CONTEXT
TITAN AD CAMPAIGN #1: JOY OF GIFTING
In 1990s Titan had a sub-brand Quartz and they launched a series of Ad-
campaigns. Theme of that campaign is Re-discover the Joy of gifting.
OBJECTIVE OF THE CAMPAIGN
In India watch markets were dominated by HMT during 1980s and perception of
watches was different. Titan created a series of ads to make this brand more
attached to the heart of person. Because when you gift, the person feels great. So
when you want to gift someone, then Watches should come to the mind.
1. Watches should be considered as an essential thing when the concept of
gifting comes to the mind.
2. This ad would be suited for all products but need to convince customers to
buy Titan Watches.
3. This ad focused on National level and it can be identified for all cultural kinds
of people.
4. Primary focus was on Emotional Benefit of Product.
METHODS
Titan made sure that they had more creative ads for this campaign and the strategy
they used here is
1. Repetition of ads (more than 12 creatives)
2. Slogan: Re-discover the joy of giving
3. Jingle: Famous Mozart's 25th symphony.
All the ads have a same idea and in each one the person gifts, jingle starts, unwraps
the gift paper, looks at watch, watch shown in close-up, and finally ends with a
slogan Re-discover the joy of giving, followed by Titan.
In each creative, the lead actors demographics varies. Demographics that are
focused in the creatives are,
Young couples walking leisurely gifting between couple
Upper class couples in a 5-star hotel gifting between couple
Middle class family gifting focused on family (anniversary)
Middle class family Husband gifting to wife
Middle class family Father gifting her daughter for Diwali
Upper middle class Father gifting her daughter for her Wedding
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College couples Just to attract fellow classmate
Old student presenting gift to her teacher on Birthday
Husband gifting her wife gift during their Honeymoon
JOY OF GIFTING #1
A couple walking on a park leisurely. Actor hides
something in his pocket.
Jingle starts !!
Next Sequence, actress tries to pull that out and was
surprised to see it as a gift.
Jingle continues !!
Unwraps the cover and was surprised to see the gift in it.
The advertisement ends with a quote saying
Rediscover the joy of giving.
Many creative were done for promoting the
same Theme.
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JOY OF GIFTING #2
A couple were in a restaurant. Actor keeps
a gift in front of her and jingle starts
beautifully once again. She unwraps the
gift, there is a watch inside in it and she
was so pleased to have one like that and
jingle still continues. The jingle and ad
ends as shown in right side.
JOY OF GIFTING #3
In the above commercial ad, a
daughter returns back home for
vacation. She enters her home
silently and she wants to give a
surprise. After making a surprise, she
gifted something for their parents
anniversary and its watches. Jingle
continues and ends with a quote.
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JOY OF GIFTING #4
In this commercial ad, it was a Festive occasion; the husband enters the room
silently and keeps something on the bed. Wife accidently noted that and she founds
that to be a gift. She opens find a watch and she looks at mirror by wearing it. Jingle
continues and in the end commercial ends without wordings.
JOY OF GIFTING #5
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Festive occasion! Daughter gifts a shirt to his father but it was oversized. She got
upset. Daughter gets her a gift. Same wrap, opens it and was amazed to see a
watch. Hugs her father and in the background it ends saying Joy of giving.
Jingle throughout and same way of positioning the product. No specific functional
benefit but stressing emotional benefits throughout the campaign.
JOY OF GIFTING #6
Its wedding for her daughter. Father has kept the gift on the table, she looks at her,
opens it, and comes down from upstairs to see her father. She finds him and hugs
him. Jingle continues throughout. In the end usually it would be Lead actor and
actress image that would be focused and the word Titan would appear. But here
they changed.
JOY OF GIFTING #7
In this commercial ad, the location is in library. Actor empties a space of books from
shelf and keeps on librarian table. Packs a watch and keeps it in the Book shelf.
Actress walks-in and the gift wrap caught her eyes. But another friend of her said
something. Actor thought it didnt work. Next shot actress shows her watch to him
and they finally move out. The visual ends with Librarian as shown above. Same
Jingle from start till end.
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JOY OF GIFTING #8
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JOY OF GIFTING #9
RESULT OF CAMPAIGN
After this campaign along with many other campaigns, Titan pushed out the major
Market share holder HMT and Titans market share went up immensely.
Titan maintained consistency in all campaigns
Jingle which rocked
Pleasant looks of different demographics which could be easily attached
Made sure that their brand is above all in each creative
Used some Movie actors for lead roles, apart from that all the characters appeared
where easily attachable to our surroundings
Brilliant campaign!!
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Back in 2013: Re-discover the joy of giving
Titan launched a campaign in 2013 which was very much the same way it launched
during 1990s and once again the theme of the campaign was Re-discover the joy
of gifting.
The campaign explores deep human emotions associated with gifting. The first in
the series is a tribute to the great Indian tradition of guru-shishya, says Piyush
Pandey, Executive Chairman & National Creative Director, Ogilvy.5
5 http://www.exchange4media.mobi/Story.aspx?news_id=53953§ion_id=1
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CHAPTER 3
HOW THE BRAND EVOLED FROM 1987
After the success of Joy of Gifting campaign, they started to focus its attention on
Lifestyles of people. Titan created more sub-brands and some may have not
succeeded like TITAN Psi2000 focusing on Sports/adventure.
In 1990s Titans major brand was Quartz and they launched a series of creative
focusing on,
1. Varieties of Watches
2. Lifestyle and Profession
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TITAN AD CAMPAIGN #2(1990S)
Objective of creative : Focus on collection and variety of Titan watches
Method : Same Jingle that has been used for Joy of gifting
Specifies that they had 400+ collections of watches and their starting price in this
category is around Rs.500+.
TITAN AD CAMPAIGN #3
Objective of creative : Lifestyle of Professions
Method : Titan Jingle along with display of watches
Specifies that watch is of International class and targeted audience were people who
seek international style watches with Gold/Silver chain.
And they carry forward this idea to Insignia which was focused on Swiss Tradition
watches.
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This creative speaks about Lifestyle. Persons who are like Pilots or who works in
Aircrafts, then for those people these are the watches to be look forward. Again its
focus was on Emotional benefits.
TITAN AD CAMPAIGN #4
This ad speaks about, How Geography has re-shaped History and it speaks about
how Titan watches were made. The focus is to convince people who are more likely
to buy grand Swiss watches and they launched TITAN-INSIGNIA, a Swiss Based
Tradition watch.
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TITAN AD CAMPAIGN #5 RAGA
Titan Ragas main focus was on Indian Women and stressed on ethnic aspect which
was arising because of Fashion trends.
TITAN RAGA CAMPAIGN #1 (1992)
Objective : Launch of New Titan Raga Watches
Method : Titan Jingle
Target Audience : Urban Woman who feels freedom
Emotional Benefit : Feel/Hear the angel in yourself
Narration of Ad : In this specific commercial, a woman was lying in the forest
and she hears a sound. She tries to find where the sound was from and she finds a
kind of person near a tree. She goes and finds no-one. She looks at her watch. Then
she crosses a lake, where she looks at her reflection. In her reflection she looks
herself as an angel. The story ends with saying Launch of New Raga from Titan.
TITAN RAGA CAMPAIGN #2 (Late 1990s)
Objective : To target Woman who were more towards Fashion Lifestyle
Method : Titan Jingle; Display of Watches
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Emotional Benefit : Feel Beautiful
TITAN RAGA CAMPAIGN #3 (2005)
Raga re-launched in 2005 and this campaign was launched during November
2005(festive season). Titan used Raga as the key driver for the entire brand.
Objective : To communicate that Raga has different collection of watches
differing from larger age groups to taste preferences and by enabling users to
assemble their own look, from formal to dressy.
Method : Titan Jingle
Emotional Benefit : Different looks from one watch
TITAN RAGA CAMPAIGN #4 (2006-07)
Rani Mukerjee was signed as Brand Ambassador to promote the Brand.
Objective : Re-launch of Titan and stressing on Watch as an accessory
Method : Same Jingle and Used Actress Brand Ambassador
Functional Benefit : Watch as a Jewel
Emotional Benefit : Feel/Look Beautiful
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TITAN RAGA CAMPAIGN #5 (2007-08)
Objective : Launch of Raga Crystals
Target Audience : For Premium end Women; Seeking Accessible luxury
Methods : Jingle
Emotional Benefit : Feel Great and easily attracted in any party/occasions
TITAN RAGA CAMPAIGN #6 (2009)
Objective : Launch of Raga Flora;
Method : Mild Titan Jingle
Target Audience : Urban, Fashion seeking; Share Love through Raga Flora watch
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TITAN RAGA CAMPAIGN #7 (2013)
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In 2010-13, Titan signed brand ambassadors like Katrina Kaif, Shradda Kapoor for
Promotions. Titan also introduced Raga Diva, Raga Pearls, Raga Silver and many
more.
Ragas contribution is believed to be highest in Titan Watches, but the exact
numbers are yet to be seen.
TAKEAWAYS FROM BRAND STUDY
From 1987 till 2013, Titan Industries and our focus on Titan Watches have evolved
into a huge segment. Huge collection of watches and there was a specific ad which
celebrated selling of 50 million watches and as of March 2013, company has sold
nearly 150 Million watches all over the country.
There was a campaign which focused on International Users
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Titan made a Classic ad, in which, two friends share a beer and two start to argue
about the watch that they wore.
At the international level they positioned themselves as a New World Watch. In
2013-14, Titan acquired Swiss brand Faver Leuba
So the major takeaways of Titan Brand before creating an ad-plan are
[1] Titan Jingle is the heart and soul of this Brand
[2] Culture & Lifestyle is stressed a lot in each ad
[3] Titan Raga is an altogether different brand and in that sub-brand lot of
variants are introduced
[4] Titan in old days had a specific format for advertisement. But Titan Raga can
be used for different commercials to and it doesnt get attached to the
consumer. Rani Mukerjee ad overlaps the brand and there is a strong chance
that people might think its for some other product.
[5] Raga sub-brand contributes more than of total turnover.
[6] Titan Edge, Purple, Steel, HTSE all sub-brands which has its own style of
creative and some dont use the Traditional Jingle. All sub-brands focuses on
different target segments.
[7] In December 2013, Titan re-launched Joy of giving idea which is the one to
be continued.
[8] Titan is the leader in this category but its market share is declining and new
ad plan should bring back the old enthusiasm and must easily attach to the
brand.
[9] Right from the launch the pre-dominant focus of ads is on Emotional benefits
and mainly focusing on Family relationships.
[10] The new ad should focus on bringing back the Tradition of Titan through its
Jingle and its emphasis once again on Joy of Gifting.
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CHAPTER 4
INDUSTRY ANALYSIS
History of Watch Market
Indian watch industry was originated in the year 1961 with the watch division of
HMT. The first watch model manufactured by HMT was the Janata Model in the year
1962. HMT was the leader in watch market till Tatas formed Titan in association
with Tamil Nadu Industrial Development Corporation in the year 1987. Liberalization
in 1992 has opened the doors for many foreign brands in the Indian Market like
Tissot, Omega, Rolex, Rado, Swatch and others. Also the import duties on watches
are falling which makes Indian Market attractive for global majors like Casio, Swatch
and Citizen.
Present situation of Indian Watch Market:
The rapidly growing urban population along with increasing number of millionaires is
expected to bring vigorous growth in the premium segment wrist watch category in
coming years. The Indian watch industry among the three price segments of mass,
mid and premium watches is witnessing highest growth in the premium segment.
This is primarily because of the growing size of the urban middle class population in
the country which has high spending capacity and which is increasingly becoming
more open towards spending on the consumption of the luxury goods.
These consumers mainly include young entrepreneurs, sportspersons, corporate
executives, celebrities and others who have high disposable incomes and have
higher inclination to experience luxury provided by goods of international standard.
As a result, the watch market in India has evolved into a competitive market with a
large number of market players offering new and innovative products to their
consumers in order to capture high shares in the rapidly expanding market.
This market has witnessed the influx of a large number of international brands which
have entered the country in order to establish their position in the close to INR
60,000.0 million Indian watch industry.
According to Ken Research, Industry Outlook to 2018 - Premium Segment and
Online Retail to Lead the Growth.
Today the Indian watch market is characterized by variety of formal watches,
designer wrist watches, sports wrist watches, chronographs and other stylish wrist
watches. This has ensured steady increase in demand for wrist watches from
different sections of the Indian consumers. The number of internet users is expected
to increase from the 154 million users in FY2013 to about 470 million users in
FY2018. This will boost up the sales of the wrist watches through online mode.
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It has been also learnt from the study that the watches within the INR 500 to INR
5000 price range enjoy the maximum sales and are followed by watches priced
between INR 5000 and INR 25000.
Growth Prospects of Indian watch industry
The Assocham study reveals that the market size of the countrys watch industry is
expected to touch the INR 15 thousand crore mark by 2020. The major factors
behind this rise are increasing levels of consumerism and income.
Segmentation of Indian Watch Industry
Based on price
In India, the mass segment of watches contributes the highest to the market in
terms of volume. On the other hand, in terms of value, each of the mass and the
mid-price segments contribute about 37%-38% to the total wristwatch market in
India. The rest is contributed by the premium segment which constitutes around
25% in India.
Mass
Mid
Premium
Based on User Category
Mens Watches
Womens watches
Youth Watches
Kids Watches
Sports Watches
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MARKET ANALYSIS
Marketing Strategy
Titans marketing strategy had five main bases
Product of international quality
Indian designs
Competitive prices
Intensive advertising and promotion
Specialized retail shops to control the presentation
Market Segmentation of Titan Watches,
Segment Marketing
Niche Marketing
Segment Marketing
Titan has segmented its market in to 3
categories
Mass - SONATA
Mid premium- TITAN, FAST
TRACK
Luxury TITAN RAGA, XYLYS
Niche Marketing
Serving the youth since they form the
majority of Customer base
Introducing Fast track
Affordable
Watches with style statements
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Medias used
TV
Magazine
Newspaper
Radio
Hoardings
Segmentation based on Users
Mens Watches
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Watches Marketed as Positioned as
Nebula Watch for discerning
individual
Gold jewel
Regalia Special watch for special
occasion
Costly gift
Insignia International World class watch for
International travellers
Womens Watches
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Watches Marketed as Positioned as
Nebula A magic blend of most
coveted of metals and
engineering excellence
Objects of Ornamentation
Regalia Incredibly eye
catching...magic in gold
Essence of dress wear
Raga and the Silver Raga Perfect accessory that
completes the woman
wardrobe
Ethic Indian styling for the
sophisticated woman
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Youth Watches
Gender Watches Marketed as Positioned as
Men
Fast track
Cool watches from
Titan
Free from
constraints of
formal environment Women All new
international
Frosted look
Kids Watches
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Watches Marketed as Positioned as
Dash
Wow!!! watches from
Titan
Dash for kids
Zoop Be cool Be a star
Sports Watches
Watches Marketed as Competitor
PSI2000 Tough, Outdoor,
Adventure brand
Swatch Irony
Criteria for Segmenting Consumer Market
Here the markets are segmented based on demographic and Psychographic factors
Demographic Segmentation
Based on age
Age Brands
Below 12 Zoop, Dash
12- 20 Timex, Sonata, Fast track
18-30 Fast track, Technology, Sonata
30-55 Nebula, Raga, Regalia, Bandhan etc
Gender
There are certain watches which are positioned exclusively for particular sex
Sex Brands
Gents Flip
Ladies Raga
Married Couples Bandhan
Both Regalia, Nebula, Fast track, Sonata, Edge
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Income
Titan offers its products with a price range to suit the different income groups
Below Rs 500 to above Rs. 50,000
Generation
Titan influenced every generation by various kinds of its products and that deeply
impacted their product purchase pattern.
Psychographic Segmentation
Life style
According to the Lifestyle of the people Titan has segmented its product to fit to the
box.
Section Brands
Luxury Section NEBULA, AURUM
Mid premium section RAGA, GOLDSTEEL, TECHNOLOGY
Mass section SONATA, TIMEX, KARISHMA
Behavioral Segmentation
Titan divided its market based on the behavior that consumer shows towards the
usage of products
Occasion
Formal Nebula, Gold & Steel
Dress wear Raga, Regalia
Fashion Fast track, Raga
Target Market
It basically deals in three segments for its watches
High Income / Elite Customers
Here the consumer buys a wrist watch is a Fashion Statement.
E.g. ROYALE, AURUM, NEBULA
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Middle group
Also in this segment watch is all about Fashion but price does matter to them. Here
they would not purchase a watch without comparing the offers in the market.
E.g. RAGA, TECHNOLOGY, FAST TRACK
Lower- income people
Here it consists of only low income people who want watch as the time keeping
device and purchase on the basis of price
E.g. TIMEX, SONATA, KARISHMA
Distribution
Distribution channel handles over 50% of watch business of the company.
Main focus of this channel is penetration and coverage.
Currently they have 65 distributors handling well over 11,000 dealers across
the country.
In addition to this they opened hundreds of service centers to repair watches,
replace batteries or change straps.
The distributor channel operates independent of all other channels and
reaches out to its own set of distinct dealers.
Titan distributes through an exclusive distributor in each country, who is
responsible for indenting, distributing, servicing, assisting and providing
marketing support for the brand.
Titans shops were easily recognizable and located in the most fashionable
shopping centers.
Brand positioning strategies
Titan makes themselves different, better and more special than their competitors by
various strategies like
It Initially founded the concept of Gifting Watches
Then broke the concept of Matching Watches to Clothes
And they launched Fast track targeting people with the age group of 20 25
along the line Cool watches from Titan
Now they re-launched the brand lowering the target segment to 18 30
years with the tag line How many you have
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CHAPTER 5
COMPETITOR ANALYSIS
Titan industries is Indias fifth largest manufacturer of watches in India
The Titan portfolio has over 60% market share in the domestic portfolio. They have
one of the major share in organized watch markets. Also to ensure dominant
presence in the market, the company has showrooms in every corner of the country
that caters to the needs of all the segment people.
Strategies of Titan over its competitors
Innovation
Quality
Creative Advertising
Retail stores
Cutting edge technology
Innovation
Titan created an over its competitors by its innovations
Slimmest watch commercially available (thickness of 3.5mm)
Intensive R&D unit
Product indigenous
Received Best Design Award in Lifestyle product category (Source: Business
World)
Quality
Certified under ISO 9001 in Dec 1994
ISO 14000 certification in 2002
TS16949 certification in Feb 2005
Recently selected for the National Aerospace and Defense Contractors
Accreditation program for its non-destructive testing capabilities.
(Source: http://titan.co.in/hot-products)
Creative Advertising
After introducing Aamir Khan as the brand ambassador the sales expanded
exponentially
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Use of catalogue advertising to merchandize new models
Use of newspaper cuttings
Retail Stores
It has over 984 retail stores across a area of 1.3 million sq. feet. Titan
Company has Indias largest retail network spanning over 218 towns. The company
has over 367 exclusive World of Titan showrooms and over 147 Fastrack stores. It
has a large network of over 748 after sales service centers
(Source: http://titan.co.in/company-profile)
Cutting Edge Technology
Sophisticated Design and Development Centre
Has international award winning designs to its credit
Recently introduced the new range of watches under the High Tech Self
Energized (HTSE) watches have a photovoltaic panel under the watch dial
that converts light into electrical energy. (Source: http://www.business-
standard.com/)
Major Competitors
Among all these competitors HMT and Maxima-Quartz are major players with
approximately 19% and 13% share in domestic markets
Strengths
Quality price positioning
Watches as fashion accessory
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Brand image
Market segments with large potential which caters to women, youth,
childrens, sportsmen and big spenders
Customer service and after sales service in a showroom environment
Weakness
Lack of low quality watches to cater lower middle class segments
Lack of flexible thinking
Barriers that hinder the market entrance
Building scale in an already crowded market requires huge financial muscle and
unrelenting marketing efforts. This might deter a large number of players from
venturing into this business. Also, there are restrictions on FDI investments in retail.
Titan has travelled a long and successful journey in its effort to build one of the
strongest consumer brands in India. It will be an interesting spectacle to see how
Titans branding to success will play out when globalization kicks in at full swing in
India.
Threat of Substitutes
There is very low threat of substitutes because Watches and jewelry have been in
usage for decades and we see no scope for substitutes for these products.
Window of opportunity to enter the market
Nearly 34 million watches are sold through gray market channels
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CHAPTER 6
OBJECTIVES OF ADVERTISING CAMPAIGN
The main objective of this ad campaign would be to
[1] Change consumers beliefs in gifting
[2] Change the behaviour by inducing Gratefulness
[3] To maintain Brand Awareness
For this, it would be better if an advertising campaign is launched which focuses
Titans tradition of Joy of Gifting. This new series of ads which we as a team
would suggest is to run a similar kind of Advertisements like one launched in 2013
between Teacher and Student.
A similar kind of Ads would be between Employer and Employee for Best
Performance ads.
TO CHECK THIS AD WORKS OR NOT?
A time frame of 12-months could be fixed in which 3-months could be used for
Creative work and next 6-months for launch of the campaign. Final 3-months could
be used for effectiveness of the ad.
BUDGETING
Usually the Budgeting for advertising would be as % of Sales value. Some factors
that are to be considered before Budgeting are,
[1] Industry spending
[2] Market share
a. Share your brand possess in the Industry
[3] Brand Loyalty
a. If the loyalty of Brand is high, then spending could be adjusted.
[4] Purchase cycle
a. If Purchase cycle is too less, then spending can also be accordingly
modified.
Based on the above data, cost of ad campaign could be decided and analysis must
include,
Production costs
The best way to reduce the production cost is to employ normal people
rather than leading movie/sports actors.
Other promotion/IBP
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Big Hoardings conveying Joy of gifting on Forgiving others
message between Employer and Employee
Joy of Gifting promotions of Police & Thief; In which thief become
good because of that Police
Reach
Frequency
How you want the consumers to see this? More often or Less often.
It would be very ideal if it has been launched during October 2014 to
Jan 2015 (Festive Period)
Time frame
How long it would take to shoot and how long the campaign should
be?
If a TV commercial is prepared for additional 10 seconds, then Budget
plan increases
Media
What kind of media to adopt TV, Newspapers, Radio
Newspapers are more important because
Local emphasis
Geographic
flexibility
Ethnic Appeal
Magazines
Specific Audience (Femina for Raga)
TV
Reach & attachment
Frequency
Cost efficient
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CHAPTER 7
STRATEGY
Titan Jingle is the heart & soul of its brand. Brand is recognised more often through
its Jingle.
In this advertisement we would take historical Joy of gifting advertisement, a step
ahead to Joy of gifting for Gratefulness.
In this creative idea is to feel the slice of life by feeling great by gifting to others
who were pivotal in your changes of life.
Following are the scenarios (examples) where the ad could be suited,
[1] Teacher who encouraged a dull student
[2] Police who stood behind a thief and changed him
[3] Employee whose attitude changed because of employer
EXECUTION
CREATIVE BRIEF
IDEA
A man presses the calling bell; he looks at the name of the person in front of the
house. 20 years back, flash back, where he was a thief who used to steal things
because of poverty was arrested and in jail he got transformed because of an Ethical
Police person. He got released and he became a successful industrialist and door-
opens, flash back ends. He enters the house, takes the gift from his pocket.
Uncovers the gift and Titan watches. The story ends Joy of gifting for Gratefulness.
MEDIA PLAN
The time to launch the campaign would be festive period and also along with
programs which focuses on success after failures.
Magazines which focus on Self-improvement and the ad can be present at thWe
back cover.
In Newspapers a series of images could be launched during festive periods, which
are during October 2014 to January 2015.
A series of ads can be made and run in TV during the same mentioned period.
EVALUATION
Criteria should be after the launch of ads and grace period for reaction from
customers 4-6 months after campaign.
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To evaluate the advertising plan based on media,
Cost per thousand (CPT): Cost of 1 page*1000/Circulation or readership
Cost per rating point
Cost of a commercial/Rating of that ad
CONCLUSION
Titan is one of the traditional brands in India. People still remember the Jingle of
Titan ads. But in some way or the other because of evolution of more sub-brands,
the historical look of branding is getting de-graded. So we propose to bring back the
same Joy of gifting campaign with some modifications like Joy of gifting for
gratefulness and launch it during the festive season of the coming year. Hope it
would succeed in great run.
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REFERENCES
[1] Titan Company, http://titan.co.in/distribution
[2] Consumer Behavior and Brand preference of Titan Watches,
http://www.iosrjournals.org/iosr-jbm/papers/Vol7-issue1/A0710107.pdf
[3] Ken Research, India Watch Industry Outlook to 2018 - Premium Segment
and Online Retail to Lead the Growth : Ken Research,
http://www.prweb.com/releases/2013/10/prweb11265130.html
[4] https://www.youtube.com/user/boopeshg
[5] Business-standard