project on titan store

1. Acknowledgement
“The culmination of the project work is cornerstone in the life of any student
with the project guide being the driving force behind”. We would like to
sincerely thank our project guide Prof. Dr. B R Londhe for giving us an
opportunity to do this research project for our internal evaluation of research
methodology and whose experience and knowledge has helped us immensely
in successful completion of this project.
We are also grateful to our Institute for its guidance.
Working on this project has been a great learning experience. We are thankful
to all concerned people who have played an active role in the successful
completion of this project.
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2. TABLE OF CONTENTS
1. Preface 3
2. Introduction 4
3. Product Portfolio Of Titan & product range 5
4. Methodology Used 9
5. Research Design 10
6. Data Analysis 11
7. Graphical Analysis 12
8. Limitations of the study 13
9. Conclusion 14
10. Questionnaire 15
11. Bibliography 16
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3. Preface
Titan entered the watch market as a premium watch. But the unorganized
sector and low priced options from HMT gave Titan serious competition. The
unorganized sector grew very fast — almost 55% of the demand in the total
market size of 45million watches was being met by the unorganized sector.
With the import duty reduced to 25% (earlier 50%) and with the import license
for watch movement being easy to obtain, many small-time players cropped
up. These small players offered competition to Titan on the price front. Thus
Titan launched low priced segment Sonata.
"For us, the main concern was: Does the sum of all our communication for
Raga, Classique and Regalia add up to Titan? We felt it didn't besides; building
each of them as separate brands is a very expensive proposition. So, instead of
a multi - brand strategy here, we're going to unveil a single-brand one.
Titan has been facing a dilemma that whether it should market these brands as
independent sub-brands or not, but it because of the high costs carried on with
status quo but with more emphasis on segments.
It is also putting in place a strategy to tap the rural market rigorously. While
has the product and the brand for this market in the form of 'Sonata', and
reach in terms of distribution, but in terms of Titan they don't have the
communication. Mistake companies generally make in approaching the rural
market is to see as one large lump, while in reality the market is very
segmented and distinct.
Titan has been the first one to build upon style, but in terms of marketing if we
consider Classique or any other brand it was not targeting any particular
segment initially with a focus, whether it was the youngsters or the Children.
Thus there was a need to foray into these already present segments.
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4. Introduction
 Title of the project:
“Watch the Titan”
 Objective of the Project:
“Time is money”.
With fast pace of economical growth the Indian watch market has also
changed from need to demand. Different brand with different technology
design innovation have entered market.
The project is to give slight insight about customer loyalty to particular brand
(TITAN).
Titan is a trustworthy brand in India, which pertains in all classes from
lower to very high class people.
 Executive Summary:
Market research is done, collected data from the customer to arrive at
conclusion.
The brand image affects the customer.
What should be the future trend?
On the basis of survey conducted various finding & conclusion has been
explained after analysis.
Titan utilises the celebrities in there advertisement to reach the all classes of
people. It has used the VOLINE tune, which made the advertisement unique.
Their ads are always full of emotion & catching the heart & attention of
people.
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5. Product Portfolio Of Titan & product range
Sonata from Titan (Now sold under TATA) aims at the mass market and
advertises itself as "a Titan watch at low price". Sonata sold an estimated 0.8
million pieces (1998-99) within four years of its launch. It is probably the
largest selling sub brand from Titan. Titan entered the watch market as a
premium watch but competition from the unorganized sector and low priced
options from HMT forced Titan to introduce Sonata. Sonata was so successful
that it cannibalized the brand from the extension’s low price connotation.
Titan's Exacta, a rugged steel watch starts at the low end of the price spectrum
but offers high price versions as well. It is reportedly selling 1.0 million pieces
per year because of the constant upgradation in its models.
It is difficult to categorize Titan's Royale, Regalia and Classique as premium or
popular. Though they have a premium image they are available at prices less
than Rs.1000. Regalia (estimated sales - 0.2 million units) is at the higher end
with dress watches for special occasions. The Royale range (estimated sales -
0.6 million watches) caters to the gift segment. There is also Royale Crown in
the upper end of the Royale range. Classique is an office wears accessory that
is gold-plated and leather strapped (estimated sales - 1 million units). Classique
watches are targeted at the older, male segment of the market, and profess
timeless elegance through a combination of fine leather straps, clean classic
dials and sleek cases, thus making it, " A perfect fit for formal wear." Classique
is the embodiment of everything that is everlasting yet contemporary. These
watches tend to be generic in their simplicity, and find no real competitors,
except HMT. These watches are priced between Rs 550 to Rs 3000. Though
there are very high priced watches in the above three ranges it is the relatively
low-priced ones that sell. They all target the upper middle class men and
women in their thirties. Royale, Classique and Regalia are the watches that
gave Titan the popularity and the prestige it enjoys.
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6. The Spectra range in this price band is a well-designed bimetal watch
("stylishness of gold and ruggedness of steel"). It sold just 70,000 units in 1997-
98. Titan Industries launched (September, 2001) its range of watches in steel,
targeted at urban men and women in the age group of 25-35 years. The Titan
Steel collection has a range of bracelet and leather strap watches for both men
and women priced between Rs 1,250 and Rs 6,000. The range will be retailed
through World of Titan, Time Zone and other retail outlets. The launch of the
steel watches, available in 90 designs, will be followed by an aggressive
marketing campaign.
Titan's Tanishq range initially targeted the European market with limited
success. In India also Tanishq faced resistance because Indian women do not
treat watches as jewellery.
The company is exploring the possibility of filling up the gap in the super
premium segment. At present only Swiss brands have a presence in this niche.
TIL, however, has its Nebula range for both men and women priced between
Rs 6,000 and Rs 32,000. The new range is expected to higher price than the
Nebula range. In fact the company's focus would be on niche segments to
grow the market. By planning to launch a brand in the super premium
category, Titan perhaps hopes to be present across all categories.
Titan's Raga is an interesting product concept that offered to give dials that
match with designs on saris. This promise was unrealistic and Raga flopped
(estimated sales - 20,000 units). Raga is now being launched in more mellow
colours and its positioning changed. Raga silver watch range also did not fare
well because Indian dials.
Titan Industries launched its Fastrack range of watches for women (For Men It
is already present). The ladies watches are available in different finishes
frosted, polished and satin and come in varied geometric shapes with trendy
leather straps and classy metal bracelets. The watches retail from Rs 995 to Rs
1,950 and are attractively priced. The watches which have been designed at
Titan's creative studio is the outcome of research that has highlighted the need
for a watch that is fashionable, bold, unconventional and designed to
accessories western wear. A collection of watches with contemporary styles
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7. those are young and distinctive. Designs that go from the relaxed and informal
to the definitely sporty. The woman's collection presents the all-new
international 'Frosted' look, which is trendy and chic. The Fastrack collection
has elements like cool mesh straps and features that include backlight and dual
time. Also presenting a range of fashion digitals in contemporary wrist hugging
cases with oversized displays and features that include countdown timers,
chronographs, lap timers, hourly chime, alarm and Hi-light glow. Fastrack
goggles are one of the products of titan which is exclusively marketed by the
company. It is popular amongst the youth.
Dash is Titan’s reply to Gimmix and Zap. Dash is available in 3 new collections
for kids - Popeye, Digital and Lumibrite. Titan is the sole licensee of Popeye in
India and this range is priced between Rs 350 and Rs 395. Giving Popeye of the
spinach-eating fame the additional responsibility of keeping time, the Popeye
brand of watches come in 6 different designs. The Digital range in a collection
of 10 digital watches has features like El-light compass and Velcro straps for
the sporty and is priced between Rs 425 and Rs 495. And Lumibrite is a glow
watch that comes at Rs 325. The company has also brought out a collection of
five watches for the girls, priced at Rs 295.
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9. Methodology Used:
 Gaining knowledge about the product and services offered by titan
watches
 Framing a questionnaire for collection of primary data.
 Mapping the city’s market for collection of primary information.
 Conducting a market survey by taking the responses of the customers
around the mapped markets.
 Analyzing the data
 Sampling method-purposive sampling
 Data collection method- primary data collection by preparing a
questionnaire.
 Secondary data collection through the internet.
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10. Research Design
Type of research:
For the project, the type of research is descriptive and fundamental.
Descriptive research is an in-depth study of an entity, individual, institution,
etc. It is in-depth study of what it is, how it is, etc. Descriptive research
includes surveys and fact-finding enquiries of different kinds. The major
purpose of descriptive research is description of the state of affairs as it
exists at present.
Fundamental research is mainly concerned with generalizations and with
the formulation of a theory. With the help of fundamental research, new
theories can be derived or existing theories can be modified. The objective
of this research is just to acquire knowledge about certain things. It is
concerning human behaviour carried on with a view to make
generalizations about human behaviour and not done to aim at certain
conclusions.
Data collection:
Sample universe : BHUBANESWAR
Sample size : 100
Sampling Plan : Stratified Random Sampling
Stratified Random Sampling: Classify the population in convenient
number of groups i.e. strata. The groups should be such that within the
group, there should be homogeneity in the members and between the
groups there should be heterogeneity.
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11. Data Analysis
The data collected was sorted and then analyzed with the help of Microsoft
Excel. The analysis gave some important results in the key areas where the
products can capitalize on the opportunity to tap new clients. The Product has
the opportunity to develop new customer relations and increase the market
share.
The project included an in-depth study of the customer’s habits and their
current expectations from the products. The questionnaire so filled up by their
responses acts as a representative of the same. So it would be easy for the
company’s officials to pitch in to these traders while providing them the
customer services.
The data was analyzed taking into consideration the following criteria which
were the most important according to the products brand point of view.
1. Customer who is not satisfied with the brand has to focus.
2. To tap the customers who are with the habits of changing taste &
frequent switcher.
3. With high class range of watches, they have to tap the market of good
potential people.
4. With the celebrity participation in the promotion of the brand, the
brand’s reorganisation enhances & results in increase of the sale.
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12. Graphical Analysis
The series in the legend are the different criteria on which the data was
analysed which have been mentioned above already.
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13. Limitations of the study:
 Usually the market is indifferent to providing information about their
personal likes & dislikes.
 The customers are busy throughout the day. So they have to be
approached tactfully so as to get the required information.
 They have to be convinced about the secrecy of information and then
the primary data is collected.
 The customers have to be convinced about the product and so one
needs to have a thorough knowledge of the product before interacting
with them.
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14. Conclusion
 Titan is the most trusted brand under the roof of TATA group.
 Titan should focus on their promotion of high range products, like
tanishq, Raga, etc. As promotion is not up to the mark & high class
people still prefers global brands.
 According to the project data analysis it found that titan has capture the
60% of the Indian watch market. In which 80% market is in low range
watches.
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15. Questionnaire
Marketing Research of Titan
Dear People,
For the Research Methodology project we are undertaking a survey of Watches. We request
your co-operation.
Sex: Male/Female Age : ______ Basic Qualification: ______
1. Which type of watch do you use?
Sports Chain Bracelet others _____________
2. which brand you are currently using ?
Titan Timex Casio others____________
3. Feature you consider while purchasing a watch ?
Warranty Quality Price Brand image Style /design
4. What level warranty of watch affects you while making a purchase ?
Priority Often Rare Not Affected
5. Does publicity of watches by celebrity affects your buying decision?
Yes No
6. Are you satisfide by the brand ou are using ?
Yes No
7. What features would you like to go for?
-------------------------------------------------
8. How often you swtiched off the brand ?
Very often Depends on mood Affordability No (Brand Loyal)
9. Given chance to change the watch which one would you go for?
Titan Casio Timex other_____________
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16. Bibliography
 Research Methodology – Methods and Techniques
-C. R. Kothari
 Research Methodology- Dr. v. p. Micahel
 www.google.com
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17. Thank You
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