2. Type – Public
Industry – Luxury goods
Founded – 1987
Headquarters – Bengaluru, India
Area served – Global
Key people – Vikram Kapur (Chairman), Bhaskar Bhat (MD)
Products – Watches/accessories, jewellery, precision
engineering & Eyewear
Revenue – 8942 crore (US$1.6 billion) (2012)
Net income – 601 crore (US$110 million) (2012)
Employees – 6,000
Parent – Tata Group
Tamil Nadu Industrial Development Corporation
Website
– www.titan.co.in
COMPANY PROFILE
3. INTRODUCTION ABOUT TITAN
Titan Industries Limited is the world's fifth largest wrist
watch manufacturer and India's leading producer of watches
under the Titan, Fastrack,Sonata, Nebula, RAGA, Regalia,
Octane & Xylys brand names. It is a joint venture between
the Tata Group, and the Tamil Nadu Industrial Development
Corporation (TIDCO). Its product portfolio includes watches,
accessories and jewelry, in both contemporary and traditional
designs. It exports watches to about 32 countries around the
world with manufacturing facilities in Hosur, Dehradun, Goa and
manufactures precious jewellery under the Tanishq brand name,
making it India's only national jewellery brand.
4. Titan Industries was established in 1984 as a joint venture
between the Tata Group and Tamil Nadu Industrial Development
Corporation (TIDCO).
Founder of titan is XERXES DESAI.
The CEO of titan is BHASKAR BHATT.
The company set up its corporate office in Bengaluru (Karnataka)
and its watch manufacturing facility in Hosur (Tamil Nadu).
5. Titan is the largest watch company in India and the fifth largest in
the world.
Titan manufactures over 100 million watches across 30 countries
and cumulative.
The company has manufactured more than a 100 million watches
till date; and has a customer base of over 80 million.
Titan is one of India's leading watch brands that brought about a
paradigm shift in the Indian watch market , offering quartz
technology with international styling.
6. TITAN WATCH DIVISION
Titan Watch division was started in 1987.
At launch it was the third watch company in India after HMT and
Allwyn.
Titan formed a joint venture with Timex, which lasted until 1998,
and set up a distribution network across India.
As of 2010, Titan watches account for a 60% share of the total
Indian market and are also sold in about 40 countries through
marketing subsidiaries based
in London, Aden, Dubai and Singapore.
7. Titan Industries has claimed to have manufactured the world's
slimmest wrist watch branded as Titan Edge. Produced
indigenously after four years of research and development, the
Titan Edge has a total thickness of 3.5 mm and a movement of
1.15 mm.
Apart from the Titan Edge, Titan also offers Steel, Regalia, Raga,
Fastrack, Technology, Nebula, Bandhan, Sonata, Octane,
specialR.
Titan flagship store, located at Opposite Shoppers Stop, Bandra
Linking Road, Mumbai, India. The store is spread over 2,500 sq ft
(230 m2) and houses more than 1500 watches on display from
Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and
many more.
8.
9. PRODUCT
Product type
convenience
shopping
speciality
Segmentation of TITAN Watch
Based on price
Market segmentation
based on user category
10. TITAN EDGE
Positioned as World's Thinnest watch. With a thickness of 3.5 mm
and an incredible slim movement of 1.15 mm.
The brand is targeting Business Executives and professionals.
11. NEBULA
A collection of intricately carved designs for women inspired by
paisley and floral patterns
Perfect to complement a traditional or contemporary outfit
12. AVIATOR
Inspired by the World War II fighter planes.
Targeting the up market global Indian.
13. TITAN-WWF
This series is being launched in collaboration with the
International NGO -Worldwide Fund for Nature ( WWF).
Targeted at the new generation consumers who wants to express
their concern about animals and nature.
Added a touch of social equity to the brand
14. TITAN RAGA
Titan also made its presence in the ladies watch segment. It have
a sub brand Raga targeting the upwardly Mobile ladies in the
premium segment
Epitome of feminine grace
15. FASTRACK
Fastrack is a popular brand among youth in India.
Fastrack watches come in a variety of styles, shapes and colors.
16. PRICE
Titan prices according to the features and value delivered. They
get the maximum market share from Sonata. Since there is no
one offering pure gold watches and jewellery watches so it is able
to skim the market with their distinct products. Titan comes out
every year with a price discount sale on watches.
TITAN PRICING
Pricing Objectives
Survival (i.e. Titan Exacta)
Market share (i.e. Titan Sonata)
Market skimming (i.e. Titan Nebula)
Product quality
17. Pricing method
Mark-up pricing
Product line pricing
Promotional pricing
Application of pricing strategy
Lower segment
1000 plus segment
18. PROMOTION
Advertising
Sales promotion
Public relation
Advertising media:
Television
Print
Internet
Social media like orkut and facebook for their promotions.
19. Titan brand ambassadors
Titan Brand: Aamir Khan
Sonata: Mahendra Singh Dhoni
Raga: Gul Panag, Rani Mukherjee
Xylys: Rahul Bose
Public relation
Gift concept
Promotion on occasions
20. Sales promotion
Sponsorship
Seasonality
Promotion through Contests
Titan tagline: Be more
Fast track tagline: How many you have?
21. PLACE
World of Titan Showrooms
Time Zone
Traditional Outlets
Non Traditional Outlets
22.
23.
24. SEGMENTATION
Titan has segmented the market on the basis of the following
variables: Demographic (age and social class), Psychographic
(lifestyle and personality), Behavioral (benefits and occasions),
Geographical (region)
The first consisted of the high income/ elite consumers who were
buying a watch as a fashion accessory. They were also willing to buy
a watch on impulse. The price tag did not matter to this segment. The
price range between Rs.20, 000 and Rs.1 lakh.
The next segmented consisted of consumers who preferred some
fashion in their watches but to them price did matter. The price range
between Rs.500 and 700.
The third segment consisted of the lower income consumers who
saw a watch mainly as a time keeping device and bought mainly on
the basis of price. The price range between Rs.350 and 500.
26. POSITIONING
ATTRIBUTE POSITIONING ( Raga, exclusive watches for women
)
USER POSITIONING ( Fastrack Digital, with ―techno-geek‖ image
)
BENEFIT POSITIONING ( Fastrack, contemporary, sturdy &
reliable )
COMPETITOR POSITIONING ( Edge, slimmest collection of
watches )
27. RECENT TRENDS
As of 2010, Titan watches account for a 60% share of the total Indian market and are
also sold in about 40 countries through marketing subsidiaries based
in London, Aden, Dubai and Singapore.
Titan watches are sold in India through retail chains controlled by Titan Industries.
On 4 March 2010, Titan Industries announced the launch of its first Titan flagship store,
located at Opposite Shoppers Stop, Bandra Linking Road, Mumbai, India. The store is
spread over 2,500 sq ft (230 m2) and houses more than 1500 watches on display from
Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and many more.
On November 16, 2011, Titan Industries acquired Swiss watch maker Favre-Leuba for
Euro 2 million.
In October 2012, Titan partnered up with Zee Watch Group, becoming the sole
distributors of Titan watches in the U.S.
28. THE NEW HTSE TECHNOLOGY
In July 2011, Titan launched the HTSE (High Tech Self Energized)
collection of watches which run on light.
According to Titan, these watches can be charged with as low as
200 lux of light, which makes them chargeable with light even
from a candle.
In its press release, the company said that "HTSE draws its
design inspiration from the most complex self-energising bodies
built by mankind — space stations, satellites and spaceships.
Targeted at the tech-savvy, young urban male, this ultra-modern
assortment is truly an epitome of style and technology.
These watches are at current available at select outlets in select
cities throughout the world.
29. CONCLUSION
TITAN is successful to be a world class , innovative and
progressive organization and to build India’s most desirable
brands.
TITAN is successful in creating wealth for all the stakeholders by
building highly successful businesses based on a customer
centric approach, and to contribute to the community
