Analysis of brand extension by Titan Company in the eyewear market in India

1. Titan Eye+
BY
SHIKHA GUPTA
Brand Extension Analysis of

2. Contents
 Introduction
About Titan Company
Brands Under Titan Company
About Titan Eye+
Eyewear Industry in India
Growth of Eyewear Industry in India
Analysis of the Eyewear Industry
Market Share of Titan Eye+
Market Share of Titan Company over the Years
Market Share of Titan Eye+ over the Years
Analysis of the Titan Eye+
Market Segmentation and Target Segment
Competitors
Positioning
Perceptual Map
Product Strategy
Pricing Strategy
Place Strategy
Promotional Strategy
Summary
References

3. Introduction
TATA Group
Titan
Titan Eye+
Manufacturer
Parent Brand
Brand

4. About Titan Company
• Created in 1984
• Transformed Indian watch market
• Fifth largest integrated own brand
watch manufacturer in the world
• Largest jewellery retailer in India
• 363 World of Titan outlets, 71
Titan One outlets and 140
Fastrack stores across the country

5. Brands Under Titan Company

6. Titan entered eyewear
segment in 2006
300 exclusive stores in
over 100 cities
Frames, ready readers and
sunglasses for all age groups
and in various designs
Highly-trained
professional staff
About Titan Eye+
Quality eye testing

7. Eyewear Industry in India
0.00
20,000.00
40,000.00
60,000.00
80,000.00
100,000.00
120,000.00
140,000.00
160,000.00
180,000.00
2009 2010 2011 2012 2013 2014
Eyewear Market in India (INR mn)
Eyewear
Source: Euromonitor

8. Growth of Eyewear Industry
16.00%
16.50%
17.00%
17.50%
18.00%
18.50%
2011-12 2012-13 2013-14
Growth of Eyewear Industry in India
Eyewear
Source: Euromonitor

9. Analysis of the Eyewear Industry in India
• Increasing use of cosmetic lenses and
sunglasses as fashion accessories as
consumers are becoming increasingly
fashion conscious
• Increase in consumer discretionary
spending due to rising income levels
• Industry is highly fragmented .The largest
share is occupied by local retailer shops
• Presence of International Brands like Essilor
and Crizal which dominate the market

10. Market Share of Titan Company over the Years
9%
4% 3%
2%
2%
2%
78%
2011
9%
4%
4%
2%
2%
2%
77%
2012
10%
4%
4% 2%
2%
2%
76%
2013
10% 4%4%
2%
2%2%
76%
2013Essilor International SA Carl Zeiss AG Luxottica Group SpA Indian Optics Pvt Ltd
Safilo Group SpA Titan Industries Ltd Others
Titan
Ltd. Titan
Ltd. Titan
Ltd.
Source: Euromonitor

11. Market Share of Titan Eye+
10%
4%
4%
2%
2%
1%
77%
Market Share in 2013
Essilor International SA
Carl Zeiss AG
Luxottica Group SpA
Indian Optics Pvt Ltd
Safilo Group SpA
Titan Industries Ltd
Others
Source: Euromonitor

12. Market Share of Titan Eye+ over the Years
8%
4%
2%
2%
1%
1%
1%
1%
80%
2011
9%
4%
2%
2% 1%
1%
1%
1%
79%
2012
9%
5% 2%
1%
1% 1%
1%
1%
79%
2013
9%5%2%1%
1%
1%
1%
1%
79%
2013Essilor Carl Zeiss Suprol
GKB Opticals Ray-Ban Hoya
Titan Eye+ Lawrence & Mayo Others
Titan Titan
Titan
Source: Euromonitor

13. Age
• Kids
• Youngsters
• Middle Age
• Old
Geographic
Area
• Metros
• Class-I cities,
Class-II Cities
• Semi-Urban
and Rural Areas
Price
• Low
• Medium
• High
Usage
• Medical
Needs
• Fashion
Personality
Type
• Sober
• Stylish
Conscious
Market Segmentation
Age
• Kids
• Youngsters
• Middle Age
Geographic
Area
• Metros
• Class-I cities,
Class-II Cities
Price• Medium
Usage• Fashion
Personality
Type
• Style
Conscious
Target Segment

14. Competitors
 Unorganized Sector is the biggest competitor
 International competitors 
 Domestic competitors 

15. Points of
Parity
Points of
DifferenceBrand Positioning Statement
Position eyewear as a style accessory
at an affordable price
Positioning

16. Style
Medical Needs
Expensive
Low cost
Perceptual Map

17. Product Strategy
Products include frames, lenses,
sunglasses, contact lenses
Innovative optical
lenses
Quality of manufacturing;
99% clarity of the glasses
and lenses

18. Enigma focuses on
Indian women
Adreno is a sports
collection
Caters to different age groups through
different product variants

19. Cabana is a sun
glasses collection
Dash is a kids
collection

20. Lenses
Progressive Lens
Anti-reflection coating
Coating to prevent
electromagnetic interference
Scratch resistant coating

21. Pricing Strategy
Price is affordable
The price range varies from Rs495-4495

22. Place Strategy
India’s largest optical retail chain
Exclusive Titan Eye Plus Showrooms
366 retail outlets, 136 towns all
over India

23. Promotional Strategy
Campaign on “affordability, accessibility and availability”
Free, zero-error eye testing at
stores
Make Hearts Beat campaign to showcase the
friendly staff and quick services of Titan Eye+

24. Trendz is for value
conscious customers
Flair focuses on
middle-aged
customers

25. Promotion through Advertisements
The message of the ad is style at an
affordable price
The ad uses the popularity of the
actress to create an appeal to try the
new collection of titan eye+

26. The ad introduces the enigma
collection especially for women
The ad introduces the new flair
collection at an affordable price
for the middle aged target
segment

27. Summary
Manufacturer- TATA group
Parent Brand- Titan Company
Market Share of 1% since last 3 years
Unorganized sector is main competitor
International competitors- Zeiss, Essilor, Lawrence and Mayo, Vision express
Domestic Competitors – GKB opticals
Positioning as a fashion accessory at an affordable price
Product varients like Engima, Flair, Dash to cater needs of each age group
Pricing is medium and affordable
Exclusive Titan Eye Plus stores
Promotion through campaigns, free eye testing and advertising

28. References
Euromonitor Database
http://titaneyeplus.com
http://titan.co.in
http://visionexpress.in
http://zeiss.co.in
http://gkboptical.com
https://essilorindia.com
http://pitchonnet.com/blog/2012/08/22/titan-affordability-campaign-story/
http://www.campaignindia.in/Video/331750,titan-eye-plus-spices-up-a-style-meets-value-
story.aspx
http://marketingpractice.blogspot.in/2010/02/brand-update-titan.html

29. Prof. Sameer Mathur
Indian Institute of Management, Lucknow
Marketing Professor: August 2013 – Present
McGill University
Marketing Professor: July 2009 – July 2013
Carnegie Mellon University
Ph.D. in Marketing : August 2003 – June 2009
G
These slides were created by Shikha Gupta, IIM Lucknow, as part of a
MBA course “Brand Management" (www.Brandstrategy.in) taught by Prof. Sameer Mathur

30. Thank You!