Titan Brand Audit.dps

Brand Audit on

Presented by

Nilotpal Maity( 08DR051) IMIS- Bhubaneswar

About TITAN Titan Industries is the world's fifth largest and India's leading manufacturer of watches. It has several popular brands in its fold including Heritage, Aviator, Regalia, Octane and WWF The Titan portfolio has over 60% share in the domestic market 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 that caters to the needs of every 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.

CORPORATE INFORMATION  In 2002 Mr.Jeyakodi was appointed as a director of the company.  In 2003 Mr.Jacob Kurien tenders his resignation to the company.  In 2006 Mr. Harish Bhatt was being appointed as chief operating officer in watches and accessories division.  In 2007 Mr.Sunil Palliwal was inducted as additional director in the board of the company.

Titan re-inventing watches brand with new tagline Titan is planning to invest Rs.15 crore in the next two years towards a re-branding exercise for its brand of watches. Currently, the watch maker is ‘reinventing’ its brand with a new logo and tagline ‘Be More’. Titan is re-inventing the brand today through new designs, retail strategy and advertising.

External marketing environment • Competitive factors • Technological factors • Social factor • Economic factors

Competitive factors

Product • Product type – convenience – shopping – specialty

• Segmentation of TITAN Watch – Based on price – Market segmentation – based on user category

Brand profile of TITAN • • • • • • • • • • • • • • • • • •

Edge Raga Octane Zoop WWF Heritage Orion Nebula Sonata Exacta Titan Bandhan watches Spectra Dash Regalia Fastrack Royale Classique xylus

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 responsibility centres and improve cost effectiveness of it’s operations.

Distribution channels

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MAJOR RETAIL FORMATS IN INDIA

World of Titan Showrooms Time Zone Traditional Outlets Non Traditional Outlets

MAJOR RETAIL OUTLETS, BHUBANESHWAR MAYANK ASSOCIATES 794, SAHID NAGAR vani vihar ,JANPATH 751007 SGBL INDIA LIMITED 56, ASHOK NAGARJANPATH 751009 NIKHIL ASSOCIATES MARUTI COMPLEX ,PLOT NO 516/1757SHOP NO. 7-10, NEAR BIG BAZAR, PATIYA 751014

TITAN PRICING •

Pricing Objectives

3. Survival (i.e. Titan Exacta) 4. Market share (i.e. Titan Sonata) 5. Market skimming (i.e. Titan Nebula) 6. Product quality •

Pricing method

8. Mark-up pricing 9. Product line pricing 10. Promotional pricing •

Application of pricing strategy

12. Lower segment 13. 1000 plus segment

PROMOTION:3. Advertising 4. Sales promotion 5. Public relation • • • •

Advertising media: Television Print Internet

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Titan brand ambassador:

• • • •

Titan Brand: Aamir Khan Sonata: Mahendra Singh Dhoni Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose

Titan tagline: Be more Fast track tagline: How many you have?

Public relation •Gift concept •Promotion On Occasions

Sales promotion •Sponsorship •Seasonality •Promotion through Contests

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's fifth largest . Their global sourcing and economies of scale give a significant price advantage and enable to offer an easy entry for consumers to the branded world at this price point. Here we will focus on the SWOT analysis of Titan.

STRENGTH •

The Indian watch market is increasing rapidly & Titan is the leader.

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

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Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders.

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Successful story of Fastrack, Orion, Raga, Octane, Xylys etc. The current year has seen the launch of the children's range, Dash & Nebula (Premium class).

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112 'The World of Titan' across 89 Cities and a chain of to being present in over 5545 dealer outlets in 1470 towns across the country.

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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 of product in watch. Which don’t create brand equity to a particular brand. • Main USP is low cost watch. • Can’t utilize properly the resources (domestic parts suppliers). •

Distribution channel.

OPPURTUNITY • Growth of Indian watch market is very fast & huge opportunity in organized watch market. • Nearly 34 million watches are sold through grey market channels. • The second-largest branded player in the Indian watch market 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 25 watches per 1,000 people, compared with 250 watches per 1,000 people in a developed society.

THREAT •

Premium international watch brands such as Swatch, Esprit, Tissot, Longines, Citizen, Rado and Omega entered in India.

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Now that the Indian market is widely open to importations, it will be extremely difficult for the Indian players to maintain a sustainable growth.

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Too many players will dilute the market & the profit margin

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Mobile phones acting as substitutes of the watches.

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 and various price levels. To the Indian consumers, the high price of Swiss watches has helped them to realize the value of Indian brands, particularly of Titan, which offers equivalent quality, but at lower prices and with better distribution and service. Titan has shown its differentiation, and customer centric approach which helped them to get the market.