This presentation helps study how Titan watches used innovation to emerge as a brand and establish its name in the watch industry.

1. A brand innovation case study

2. Why study Titan
watches ?
Use of innovation
Broadest
range of
watches
Brand leader in the
country of its origin
Only branded
watch company to
originate from a
newly
industrializing
country
Became the best
brand in a short
time

3. Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
WHO?WHEN?WHAT?

4. Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
• Established in 1987
• Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team.
• Third Indian watch manufacturer after HMT and Allwyn.
WHO?WHEN?WHAT?

5. Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
• Indian designer and manufacturer of watches, jewellery and other accessories including
sunglasses, wallets, bags and belt.
• Precision engineering is another area of specialisation.
• Established in 1987
• Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team.
• Third Indian watch manufacturer after HMT and Allwyn.
WHO?WHEN?WHAT?

6. Today, Titan watches account for more than 60%
share of the total Indian Watch Market.
Sold in about 32 countries through marketing
subsidiaries based in London, Aden, Dubai and
Singapore.
Titan offers various brands including
Steel, Regalia, Raga, Nebula, Sonata, Fastrack, Zoop,
Orion, Purple, Obaku, Automatic, Tycoon, Bandhan,
Octane and the HTSE series.
Introduction : History

7. Evolution of Titan

8. 1984
+
• Joint venture
• Electronic watches
• 150 designs
1986
+
Digital & ana-digital
watches
1989
‘Aqura’ range of
watches launched
• ‘Aqura’ sold
to Timex
• Consultancy services
• Marketing strategy
outsourced
1991 1992
• ‘Raga’ range of
watches launched.
• “Spectra” range
reintroduced
1994
• ‘Tanishq’ range of
watches launched
• ‘Insignia’ launched
in India
1995
+
‘Sonata’ range of
watches launched
1996
Timeline

9. ‘Dash’ range of
watches launched
2001 2000
• ‘Cyber’ range of
watches launched
• ‘Titan-Fastrack’
launched
• ‘Baarah nai toh
tera ampaign with
pizza hut
• ‘Classique’ collection
launched
2004
‘Crown’ range of
watches launched
‘Vizag’ range of
watches launched
20052006
‘Xylys’ range of
watches launched
2013
‘Edge’ and Braille
watches launched
‘Octane’, ‘Obaku’,
‘Automatic’, ‘Purple’
range of watches
launched

10. Innovation
strategies should lead to inimitability of strategic options
that come from certain tacit knowledge elements or
embedded organizational processes
1
Strategic options an innovation provides
should lead to sustainable competitive
advantage.
Innovation should enable a firm to retain
superiority in the market place.2Strategic innovation should allow a firm to
pursue strategic options without loosing its
flexibility.
3
Options pursued should lead to durable
benefits4
5

11. Technological
Innovation
Increased reach: Retailing
Cycle time reduction
Continuous feedback
Constant review
Multi-brand outlets
Service excellence
Slim watches
Watches for disabled
Better finishes of watches
Designing watches through visualisation
Broader ranges of watches
Robust design of watches
Organisational
Innovation
+

12. Innovation
Agility and
openness to change
Product richness
Alliance relationships,
cross-functional teaming
and design automation
innovative approach to extend the reach to all major
customer centers through the ‘watch supermarket’
concept.
Superior brand reputation

13. Global brand
World–class manufacturing
New image driven by innovation
High torque stepper motors for high reliability
Vapour deposition technology for appearance parts
Cycle time reduction through concurrent engineering
World’s thinnest watch movement
Concept marketing instead of product marketing
Brand image building in Europe
Brand leveraging in other personal product segments
Global procurement
Total Quality management at the suppliers end
Training new & young staff to have a new corporate culture
Cross cultural marketing
Innovation

14. InnovationinValueChain Conceptualisation
World class manufacturing
Thorough assessment of
competitive trends
Customer orientation
Design
Design studio
Networking into the world
of design
Design software CAD/CAM
European design ideas
Continuous renewal of
models
Operations
Short product realisation
cycle times
Rich styles
Integrated manufacturing
Innovative technologies
High quality orientation
Wide range
Distribution
Multi channel distribution
Institutional sales
Dealer training for
attitudinal change
Marketing & Sales
Flagship showrooms
Multi-brand showrooms
Selling competitive
products
Rapid increase in reach by
locating outlets in smaller
towns
Rapid brand extension
Service
Front service offers
Spare parts warehouses
Short service cycle time
Intensive training for
service excellence

15. What does all the innovation lead to?

17. Slim watch design
Titan has claimed to have manufactured the world's slimmest wrist watch branded as
Titan Edge with a total thickness of 3.5 mm and a movement of 1.15 mm.

18. Watches for specially-abled

19. Better finishes, materials, broader ranges, robust design

20. Better finishes, materials, broader ranges, robust design

21. Better finishes, materials, broader ranges, robust design

22. Competition from lead competitor
Minimum return during sale period
Quality: Central focus
High torque stepper motors
Durable finishes using vacuum deposition
Large range of styles in a short time frame
Distinct in appearance & style
Art and design studio was set up
Help from European designer
Art software & computer aided design
Watches are elegant & rich in style
Retail networking and richness of product
Design
Strategy
Manufacturing
Strategy
+

24. ‘Telling the time’ product
‘Personal’ product
Rock-solid vision
Best staff-mix
Thorough market
analysis
Right market
segment

25. An organisation with:
Design
Manufacturing competence
(Automation)
Marketing competence
Driven by:
Futuristic mindset
Contextual insight
Business foresight
Volume creation:
When Titan entered the
market, the share of analog
watches was just 5%
Target the high opportunity
segment
Position itself as a premium brand
Roadmap
BRAND
CREATION
Rock-solid vision Best staff-mix
Thorough market analysis Right market segment
Why do Indians prefer watches made abroad ?
Nature of market
Competitor offerings
Analyse operation of competing brands
Customer requirements
Identification of major gaps:
Styling, service
Retail reach
Showroom interiors
Capability of franchisees
Attitude of retailers towards customers
Main weakness in the Indian market: No brand had a strong
personality
Started the company with a group of executives
with rich but varied experiences:
MD from Tata group
Professional executives with extensive
experience in watch manufacturing
Executives with marketing experience
specifically in retailing.
Medium range market
Large to handle
High growth potential
Quick segmentation
‘Doing it right the first time’:
Usage of innovative advertising campaign to create
& position the brand

26. REASONS NO. OF RESPONDENTS
Attractive Design
Reasonable price
Brand image
Good quality
39
7
22
25
Reasons for Brand Loyalty

27. Types of media NO. OF RESPONDENTS
TV
Magazine
Newspaper
Hoarding
46
25
36
15
Advertising

28. Reaching the customers
Speed and surprise are the crux of successful competitive strategy . -Art of War

29. Increased reach: Retailing
320 STORES 130 CITIES

30. Service excellence
Sustainability of brand reputation comes from service excellence.

31. Service policy
Repair the hurt
feelings of the
customer
Repair the
watch
Repair the
damage to
TITAN
reputation
www.titancare.co.in
Repair status
Service news
Service network information
Service feedback
Do’s, Don'ts, Tips
Quality policy & Service offerings

32. Globalization : International reach
32 COUNTRIES
2000 stores ; 135 million customers
became one of the first brands in the non-
consumer goods segment from India to be sold in
Middle East, East Asia as well as Europe.

33. * Regular interaction and systematic analysis of feedback
* Training and skill development in cross-cultural marketing
* Incremental approach supported by rapid learning and review
* Rapid learning and rapid adaptation to changing requirements in new markets.
* Continuous communication, dialogue-based goal setting & fear-free feedback.
Globalization : Strategy
Contemporary style + Excellent quality + affordable prices = Global Success
Globalization : Strategizing