REPORT ON THE MARKETING STRATERGIES OF TITAN WATCHES

SUBMITTED TO DR. NAVJOT KAUR SUBMITTED BY 304 SHILPA KOTHARI 307

SUCHITRA SINGH

SONIYA PURI 352

CONTENTS1. INTRODUCTION AND HISTORY 2. TARGET GROUP AND COMPETITORS OF TITAN 3. CHANGES IN ADVERTISEMENT PATTERN OF TITAN 4. SALES OF TITAN 5. CONCLUSION

INTRODUCTION AND HISTORY 2

Titan Industries Ltd (TIL), one of the leading manufacturers of watches in the world, was incorporated in 1986 and launched its first watch model in 1987. A joint venture between the Tata group and the Tamil Nadu Industrial development Corporation (TIDCO), it is the undisputed leader in India with a market share of 58% in the organized domestic market. Titan decided to focus on quartz watches, which many industry observers felt, were not suitable for Indian conditions. But, Titan was instrumental in revolutionizing the watch market in India with its quartz watches. Back in the early eighties, the Tata Group had identified the watch category as a potential consumer market for the Tatas to enter. Xerxes Desai, a Tata veteran and the then MD of Tata Press, was chosen to lead that venture.

PENETRATION IN INDIAN TERRAIN At the time when Titan entered market, watches remained a time-keeping device, so one watch was enough. Since the quality of the watch was quite good, it lasted quite a while, and the consumers did not changed it for 10, 15, 20 years. And when they did change it, they did not pay a high price for the new piece as they were not keen for buying another time-keeping device. Xerxes Desai's vision was to dramatically alter this perception of consumers, and make Titan a fashion accessory. Titan decided to inundate consumers with a wide choice in style, functions and price. The initial range was 350 models. There was no importance given to presentation. So, Titan brought in the concept of retailing into the watch market, established a network of fine showrooms which later become the world's largest network of exclusive watch stores. These stores not only helped Titan to gain leadership substantially, but also irrevocably altered the retail landscape of the watch market through a demonstration effect on the traditional dealers.

SEGMENTATION BASED ON USER CATEGORY 1. Women's Watches: Fashion and style are most visible feature of this segment 2. Men's Watches: HMT's Roman is probably the only watch that addresses the men's segment. Market research indicated that HMT was seen as a masculine brand while Titan was seen as a feminine brand. In keeping with its masculine image HMT introduced the Roman range. 3. Youth Watches: Age group between 15 and 20 is treated as youth segment. Ruggedness and durability at low price is basic feature of this segment. 4. Kid's Watches: Target group is children aged between 7 and 10. Mainly digital watches fall in this category. Grey market is most dominant player of this segment. HMTs Zap TIMEXs Gimmix and Titans Dash are branded watches offered in category. 5. Sports Watches: Stress of this segment is on trendy designs for casual wear with advanced features for the techno-savvy consumer. Titan has been working on this principle for over the last 15 years, almost year after year: In 1989, it was Aqura, the trendy range for the youth, colourful, smart and affordable plastic watches for the youth: The other side of Titan for the other side of you. In 1992, it was Raga, the ethnic range, with striking symbolism from ethnic India, for the sophisticated India woman who appreciated such things. In 1993, it was Insignia, very distinctive and international-looking top-end watches, for those seeking exclusivity and status. In 1994, it was psi 2000, rugged, sporty and very masculine watches with serious sports features (200-m mater resistance, high precision chronographs) for those with the penchant for adventure. In 1996, it was Dash, the cute and colourful range for kids. In 1997, it was Sonata, the affordable, good quality range for the budgetconscious.
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In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart. In 1999, it was Nebula, the sold gold and diamond-studded range of luxury watches for those affluent people to whom gold is a precious acquisition. In 2001, it was Steel, the smart and contemporary collection for the young 21st century executive. And in 2008, the brand has collections like the Octane, Diva, WWF and Zoop - each of them unique and fascinating. BRANDS OF TITAN

1. SONATA 2. FASTRACK 3. TITAN RAGA 4. NEBULA 5. EDGE 6. DASH 7. FLIP 8. STEEL 9. CLASSIQUE 10. ROYALE 11. WALLSTREET Titan realising that the market wanted something to be excited about watches began an extensive marketing campaign. Titan carefully segmented the market and developed different sub brands for each segment. Sub brands like Edge, Steel, Dash, Nebula , Classique, Royale, Fast Track , Raga, and the recently launched Wallstreet . By having various products / models and subbrands, Titan was able to create freshness about the brand. COMPETITORS OF TITAN TIMEX , HTMT RADO,CASIO,SEIKO, ESPRIT, CITIZEN, SWATCH, CARTIER, GIORDANO, LONGINESS, MAXIMA QUARTZ, IMFQ-INDIAN MADE FOREIGN QUARTZ, FASHION HOUSES DKNY, GUCCI, ADIDAS, NIKE, BVLGARY and other local brands with low cost prices.
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ADVERTISING STRATEGY Titan saw advertising as a vital investment. Titan invested significantly in advertising and in that process created a set of memorable and effective properties over the years. The most enduring part of the Titan advertising has been the music track. Chosen by Xerxes Desai 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 (incidentally, and perhaps not coincidentally, this was the most liked advertising track in the same Zee TV survey). Starting in 1987 in its pure classical versions, with a single violin playing the melody, this piece has been rendered in countless innovative versions over the years: Indian Classical, Indian Folk, Operatic, Rock, Funk,.And has become such a powerful audio mnemonic for the brand. DIFFERENT ADVERTISEMENTS OVER A PERIOD OF TIME First ad Showing 150 fine quartz watches. Titan quartz from TATA. The main punchline of this ad was YOU OWE IT TO YOURSELF. The main purpose of this ad was to shoe the variety in watches and create a craving for the watches among people. Second ad This ad shows that the husband is giving gift to his wife on their wedding anniversary. The punch line was REDISCOVER THE JOY OF GIVING. The main purpose of this ad was to create an awareness among its customers that apart from using it for ourself, we can use it for gifting our near and dear ones. Third ad This ad was quite similar to the previous one and showed that the daughter brings home Titan Watches for her parents on their wedding anniversary. The punch line was REDISCOVER THE JOY OF GIVING. The main purpose of this ad was to create a wave among its customers for using it to gift it to our near and dear ones. Fourth ad
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It depicted the marriage scene where bride has been gifted Titan Watch by her father on the occasion of his daughters marriage. The punch line was PYAAR KE BAAD SABSE PYAARA UPHAAR. This ad targeted the close emotional bond between father daughter.

Fifth ad A couple on holiday destination gave gift of titan watches to each other. The punch line was REDISCOVER THE JOY OF GIVING. This ad was targeted on young couples to go for Titan watches as it is a precious gift that one can give. After this ad, Aamir Khan was hired for the brand endorsement and it brought a revolution in the advertisements of Titan watches. The association with Aamir Khan3 was mainly due to the brand values that both Titan and the actor are associated with. We are both known for our commitment and obsession towards perfection, quality, innovativeness, setting new trends and our market leadership."4 - Bijou Kurien, Chief Operating Officer (Watches), Titan Industries Ltd. in 2004 With the celebrity endorsement, TIL hoped to promote the latest trends in the industry. The idea was to make watches that would be seen as style and fashion accessories rather than just utilitarian devices. The company decided to use Aamir in brand and product communication on television and in the print and outdoor media. Sixth ad Aamir Khan is planning to go somewhere and his servant brings in the box containing different varieties of the Titan Watches .And Aamir Khan is amused at the variety of watches and gets confused as to which watch should he take and ultimately takes the whole box with him for the 2-day trip. This ad aimed for showing the classic varieties of the Titan watches and the main emphasis was to show us to have many Titan watches at a time. Seventh ad
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It shows that when Aamir Khan is with his grandmother and tells her that he would gift her Titan Watch if she agrees to get married. Though, the grandmother is emotional about her Late husband, but she readily agrees to get married when she comes to know that the gift is Titan Watch. The punch line of this ad was KABHI KISI MOKE PAR KABHI YUHIN. According to our perception The main aim of this ad was to show us that Titan Watch is liked by every age group and can be gifted to our near ones without any special occasion too.

Eighth ad This ad showed that Aamir Khan wears Titan Edge and whenever he wears it he gets a celebrity feel and many cameramen and photographers come around but as soon as he hides his watch, they disappear. The punch line was SLIMMEST WATCH IN UNIVERSE, OVER ATTENTION COMES WHEN YOU WEAR IT. This ad targets the rich people and youngsters and gives the impression that Titan watches are very luxurious watches and at the same time very trendy. Ninth ad In this ad Aamir Khan is about to meet his childhood friend after a long time and in order to give him something special he gifts him Titan watch on the occasion of Diwali. This ad was to show the value of friendship and so the gift should also be valuable. Tenth ad In this ad Aamir Khan is showing that we should be carefree and explore our world irrespective of age and time. This ad was shown on television from 30th June 2008. This ad taregets all the age groups including children. Eleventh ad This was the ad of Titan Octane and in this it is shown the attraction of speed and the sporty look. It was shown on television from 30th October, 2008.
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This targets the young population mainly the males as it shows how sporty look is also very trendy. The different advertising media used by Titan Industries Ltd. to establish itself in various international markets. The caselet emphasizes upon the need to develop products that cater to the needs of the various customer segments like mass market, youth, luxury, and premium. It also describes the emergence of Indian advertising agencies as a global force and the need to devise promotional methods based on the country of operation. The importance of selecting a proper advertising agency while entering international markets. The emergence of Indian advertising agencies as a global force Need to adapt or standardize the advertising content Importance of segmentation

CONCLUSION Indian Watch industry is estimated to be around 1600 crores and Titan is riding on top of it with a market share of over 50%.This is a super brand that has changed the way we look at (or wear) watches. A marketing success story, Titan is a brand that will be of interest to most of the marketers.