Project Report

“To Study Marketing Strategies of Titan Company Limited”

A Project report submitted to Submitted By Team X

XIM University for Marketing 1-Mayukh Mandal
Management Course Term 1 2-Sujit Kumar Barik
3-Soumya Kanta Srichandan

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 CONTENTS
ACKNOWLEDGEMENT.....................................................................................................................
INTRODUCTION.................................................................................................................................
INSIGHTS & HIGHLIGHTS ABOUT THE COMPANY....................................................................
TITAN PRODUCT TIMELINE............................................................................................................
SWOT ANALYSIS...............................................................................................................................
Strengths...........................................................................................................................
Weaknesses......................................................................................................................
Opportunities....................................................................................................................
Threats...............................................................................................................................
BRANDING STRATEGY....................................................................................................................
Britannia Product list and its brand range......................................................................
Britannia Products............................................................................................................
1. Biscuits Sectors..............................................................................................................
2. Bread, Cakes and Rusk Sectors.........................................................................
3. Gift Sectors..............................................................................................................
4. Dairy Products.........................................................................................................
PRICING STRATEGY.......................................................................................................................
What is a Public Relationship Strategy?.......................................................................
What is the importance of utilizing this strategy?.......................................................
Britannia’s Public Relationship strategy utilization...........................................................
Get media & Public attention by launching of new products:.....................................
Knowing your audience by influencing specific target groups:.........................................
Company’s promotion by various public activities:..........................................................
SALES STRATEGY...........................................................................................................................
What does the term ‘Brand’ mean?.......................................................................................
Importance of Branding.................................................................................................
Advantages of Branding Britannia................................................................................
Steps Adopted By Britannia towards its Branding......................................................
CONCLUSION...................................................................................................................................
BIBLIOGRAPHY...............................................................................................................................

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 ACKNOWLEDGEMENT

We would like to extend our heartiest thanks with a deep sense of

gratitude and respect to our professor Mr M.N. Tripathy for
giving us this opportunity of doing research on Titan and providing
our report. We are extremely grateful to Professor Mr M.N.
Tripathy whose valuable guidance and supervision throughout the
course shaped the present work as its show.

We would also like to thank our parents and friends for their co-
operation and help which resulted in completing our report in
time. Lastly would like to thank Almighty for his blessing.

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 INTRODUCTION

Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu
Industrial Development Corporation (TIDCO), commenced its operations in 1984 under the name
Titan Watches Limited. Titan is the fifth largest integrated own brand watch manufacturer in the
world. Over the last three decades, Titan has expanded into underpenetrated markets and created
lifestyle brands across different product categories. Titan is widely known for transforming the
watch and jewellery industry in India and for shaping India's retail market by pioneering experiential
retail.

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Titan Company Ltd is the world's fifth largest wrist watch manufacturer and India's leading producer
of watches. The company is engaged in manufacturing of watches jewelry precision engineering
and Eyewear. They produce watches under the brand name Titan Fastrack Sonata Nebula RAGA
Regalia
Octane &
Xylys.
They
export
watches
to about
32
countries
around
the
world.
They

manufacture precious jewellery under the Tanishq brand name. The name Titan today evokes
superior craftsmanship, innovative technology and trustworthy product quality. The Company is
structured into four verticals namely Watches and wearables Jewellery Eyewear and Others where
'Others' include Accessones Fragrances and Indian dress wear.

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 HISTORY OF THE COMPANY
Xerxes Desai MD of TATA press was looking for new business opputunity then he chanced upon
idea of watch manufacturing in 1977. After almost a decade of navigating HMT hegemony ,
reluctance to part with from Swiss companies and RBI stringent forex norm titan was formed with
joint venture of Tamil Nadu industrial development corporation TIDCO and the TATA’s . TI+TAN (TI
for TATA Industries and TAN for Tamil Nadu).

It took 10 years for manufacturing watch as India was a Socialist country, import discouraged,
monopoly discouraged with Application of MRTP act (Monopoly and trade practices act). Titan
wanted to import watch components then use these components to make more watches in India
and then sell them all across the world. RBI forex norms made it even more difficult. Titan had to
arrange its own forex to import these components that is when they started selling jewelry in Europe
with the goal that they would make and sell Jewelry in Europe, earn Forex and use them to buy
watch components.

In 1991 due to liberalization came into effect in India in 1991. As a result, India’s IT companies like
Infosys and Wipro started bringing an enormous amount of Forex. Eventually, the oil shock faded
away, and Titan began to focus on the Indian Markets under a different Brand. That is how an iconic
Indian Brand was born, which we all know today as Tanishq.

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 TITAN PRODUCT TIMELINE
 1984 - The Company was Incorporated on 26th July, at Chennai. The company was
promoted jointly by Questar Investments, Ltd., a Tata Company with its associates Tata
Sons, Ltd., and Tata Press, Ltd., and Tamil Nadu Industrial Development Corporation, Ltd.
(TIDCO).
 1987- The Company established a manufacturing facility at Hosur for the manufacture of
components for watches.
 1989- A new range of watches called `Aqura' was launched in December.
 1992- Over 150 new models were introduced of which `Raga' introduced in June, `Spectra' a
range of watches in steel and gold plated was reintroduced with a new look in August.
 1993-The name of the Company was changed with effect from 21st Sept. from Titan
Watches, Ltd. to Titan Industries Ltd., in view of the fact that the Company's products
consisted of not only watches but also jewellery.
 1994-The Company introduced `Tanishq' range of watches made of 18 carat gold and
studded with precious stones. A new range of watch `Insignia' manufactured for the
European market likely to be introduced in the domestic market.
 1995- The Company proposed to set up a joint venture company with Hour Glass of
Singapore to set up watch boutiques in leading Indian cities for the sale of luxury watches
and also be responsible for wholesale and after-sales operations.
 1996- The Company has introduced new economy range of watches called "Sonata" and
Tanistiq's 22 Karat ethnic Jewellery during the year.
 2000-Titan Industries has announced the launch of Cyber, a range of digital clocks.
Titan Industries unveiled a new range of wrist-watches, called the Classique range, for
Corporate Executives.
Titan Industries has announced a new range of Fastrack watches for young women in the
city.
 2001-Titan Industries Ltd. has launched three new collections of its popular Dash brand of
watches for kids -- Popeye, Digital and Lumibrite.
 2003-Tanishq steps into a new segment Silverware. The silverware range has been
designed by Michael Folly, the designer for Titan.
 2004-Relaunches 'Raga', the women's watch range
Titan has announced the launch of a new collection of women's watches called 'Raga
Miniatures'.
Titan has announced the launch of Raga 9 to 5 collection of watches aimed at working
women.
Watch and jewellery manufacturer Titan Industries forayed into the fashion accesssories
industry with the launch of sunglasses, a Rs 330-crore market
 Titan rolls out new range of jewellery watches under the 'Nebula' brand
 2005-Titan re-introduces Fastrack range of watches
 2006-Titan Industries unveils Xylys watches
 2010-Titan Eye Plus launches world class Lens Manufacturing unit.
 2013-Titan Industries Ltd. shall be changed to Titan Company Ltd.



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 SWOT ANALYSIS

Strengths:
 Distribution: A very good distribution network is in place. Titan offers distributors and dealers
attractive margins
 Good design with High Quality: Titan is known for its good designs and high quality. Titan
Watches is popular among all demographics. Titan Watches have the same quality as
international watches.
 Positioning: Titan has established a presence in the watch market. Tata Titan is a leading
brand due to its brand image
 Customer Service: Titan provides excellent customer service. Titan watches rarely require
repairs, and if it does, the company will replace the item during the warranty period.
 Merchandise: Titan’s main strength is its visual merchandising activities. Titan showrooms
use visually appealing merchandising materials. Titan has a successful retail chain called
“World of Titan.”

Weaknesses:
 Non-Water Resistant: Titan Watches is not completely waterproof. Since watches from other
brands claim that the product of those companies is water-resistant. Titan should also make
a move to maintain its position. 
 Poor Target Audience and Influences of Mobile Phones: Titan does not intend to target rural
India. Customers are shifting away from watching television in favor of using mobile phones.
 Lack of Technology: Titan is less common in smartwatches, which are in high demand in the
future. So Titan should start manufacturing smartwatches in this tech-savvy world.

Opportunities:
 Expansion: Titan needs to market its timepieces as a symbol of generosity. Watches for gifts
are popular, and promotional watches for gifting might be a terrific chance. The Indian watch
market is underserved; just 35% of the population owns a watch
 Design: Watches that are worn as fashion accessories rather than just functional items.
Titan’s products are very unique in design and look cool while wearing them. 
 Consumer Friendly and Improving Its Target: With rising customer perceptions, consumers
are more likely to own multiple timepieces for different times and activities. A massive
exchange-rate market exists. Make waterproof wristwatches. The rural market could be
exploited.

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Threats:
 Competitors: Citizen, Swiss-Omega, Rolex, Tag Heuer, Tissot, Rado, and others are among
Titan’s fierce competitors. Titan needs to come up with different strategies to maintain its
position in the business. 
 Global Market: Chinese watch businesses are also posing a threat to Titan by selling its
products at a lower cost. Since it is cheap, people tend to buy those products. 
 Fake Product: Because Titan watches are simple in design, the products are easy to imitate.
Imitation products don’t give the same success as they did for the original one. It may cause
a serious threat to Titan. 

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 BRAND MANAGEMENT
What is Branding?
Branding is the process of creating a strong, positive perception of a company, its
products or services in the customer’s mind by combining such elements as logo,
design, mission statement, and a consistent theme throughout all marketing
communications. Effective branding helps companies differentiate themselves from
their competitors and build a loyal customer base.

Brands under Titan

Jewellery
 Tanisq
Tanishq is India’s largest jewellery retailer. Our flagship
brand Tanishq is synonymous with purity, style and
design, the cash cow of Titan company.
 ZOYA -ZOYA is a luxury brand offering excusite
jewellery in diamonds and precious stones.
 Mia – Mia offers contemporary jwellery.
 Caratlane- Caratlane is an omni channel brand for
modern jewellery at affordable prices.

Watches
 Titan- Titan is the flagship brand for the mid
premium market.
 Fastrack-Youth Brand
 Sonata-Economy brand, range from 500-
2000. Targeted at customer seeking
durability as ‘Nor compromise watch’.
 Zoop-For school going children.
 Favre leuba
 Xylys
 Nebula

Breakdown of Titan Branding:

 Continuous Innovation-

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Advantages of Branding in Titan
 Creative advertising
instrumental music were used in Titan’s television advertisement. Western classical was decided as
it appeals to a broader global audience. The symphony gave the brand a world-class feel it needed
to position itself as a global watch manufacturer. The tune got engraved in the consumer’s mind.
The tune became a fantastic point for brand recognition, leading to an increase in mindshare.

 Effort to connect with youth

It even launched a complete range of Fastrack watches at a cheaper price range to capture a new
market of school and college students. It’s a brilliant strategy as it gives the brand a chance to
upsell its more expensive brands later on.

 Break the stereotypes

Titan realized that women are put off by relatively utilitarian watches. So it built watches in the form
of bracelets. But it always kept pace with changing times. Titan has time and again launched a
series of advertisements to celebrate the women of today and shown its solidarity with women
empowerment.

 Brand for all Demography

Titan Company Limited has a beautifully designed product portfolio of watches that caters to all
demographics. Be it an iconic luxury wristwatch or a fitness tracker watch or a kid looking for
Marvel’s Avengers-themed watch,  Titan has all kinds of watches to offer. 

Steps Adopted By Titan towards

its Branding

 India’s First branded jewelry

player.
Jewelry business was very un organized in
India The purity of gold sold was questionable
dominated mainly by the local players.

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Customer life time value was very high. Tanisq focused on purity and introduced karatmeter which
was a game changer. Tanisq knew the local jwelery were adulterating to in increase profits and
which had to be brought to people;s mind , with the help of karatmater people can walk in and
measure the purity for free. That is when people realized they were being cheated. Tanisq was able
to uproot the blind trust of local jewelers and started gaining market share.

 Trust and Reputation

Tanishq is a name that is known to almost everyone in India. This is possible because of proper
marketing and campaigns. But reach only does not fetch customers. While dealing with expensive
assets like jewellery, authenticity plays a major role and that is only acquired by having a brand
reputation. Since Tansihq comes under Titan comp, as a joint venture by one of the most important
companies of India – the Tata group. The other party of this venture is the Govt. of Tamil Nadu
which wanted to further invite more opportunities in southern India. 

 Brand Extension
Fastrack launched various accessories like bags, belts, wristbands, sunglasses under it to gain market share
and also enhance the appeal of the brand.

 Multi Brands
Titan has multiple brands under same category to tap every segment of the market.
 New Brands
With continuous innovation and research Titan launches or relaunches its brands to stay ahead of the
market .
 Cobrands

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