Titan - The Market Leader

TITAN – THE MARKET LEADER
East Point College of Engineering for Women Page. 1 of 67

1. COMPANY PROFILE
Titan Industries was established in 1984 as a joint venture between the TATA
Group and the Tamil Nadu Industrial Development Corporation (TIDCO). The
company brought about a paradigm shift in the Indian watch market, offering quartz
technology with international styling. In two decades the company has built an
impressive watch business to become India’s largest manufacturer and the world's
fifth largest manufacturer of watches. Titan manufactures over 90 million watches
across 30 countries. It has over 60% of share in domestic market. All this has mainly
been achieved by developing a formidable distribution network. The company has
amongst the world's largest retail chain of exclusive retail showrooms for watches
called ‘The World of Titan’ spread over 100 towns. It also has multi-brand outlets

named ‘Time Zone’, service centers and dealer outlets. Globally Titan has a presence
in over thirty countries through its marketing subsidiaries.
In 1995, the company diversified into jewellery under the brand – ‘TANISHQ’ to
capitalize on a fragmented market operating with no brands in urban cities. In 2005,
the company launched its second Jewellery brand, ‘GOLD PLUS’, for capitalizing on
the opportunity in small towns and rural India.
The company has now diversified into fashion Eyewear by launching ‘Fastrack Eye-
Gear sunglasses’, as well as ‘Prescription Eyewear’. The Company leveraged its
manufacturing competencies and branched into ‘Precision Engineering Products’
and Machine Building from 2003.
Today Titan Industries is India's leading manufacturer of watches and jewellery
employing 4,300 people. Titan and Tanishq are among the most admired brands in
their categories.
1.1 ‘Titan’ name

Titan means "a person or thing of enormous size, strength, power, influence".
1.2 Titan’s Subsidiaries

1.3 Vision
“To be a world-class, innovative and progressive organization and to build India’s
most desirable brands.”
1.4 Mission
“To create wealth for all our stakeholders by building highly successful businesses
based on a customer-centric approach, and to contribute to the community.”
1.5 Values and Standards

a. Total customer orientation - Customers take precedence over all else, always.
b. Employee appreciation - Value and respect Titanians and endeavour to fulfill

their needs and aspirations.
c. Performance culture and teamwork - At Titan Industries, high performance is

but a way of life and is nurtured by teamwork.
d. Creativity and Innovation - Driven by innovation and creativity, focus on

smarter approaches and newer technologies.
e. Passion for excellence - In all pursuits, ceaselessly strives for excellence.
f. Corporate Citizenship - Ensure that a part of resources is invested in

environment and community betterment.
2. TITAN’S BUSINESS AND BRANDS
2.1 Business

2.2 Brands
3. MANAGEMENT AND SHARE HOLDERS
3.1 Board of Directors

The company has 12 directors, comprising 11 Non-Executive Directors and 1
Executive director.
3.2 Senior Management

Mr. Bhaskar Bhat

3.3 Shareholders
The majority stake in the
company is held by the
promoters, with TIDCO
having 28 per cent of the shares and Tata Group companies owning 25 percent of the
shares. Public holding in the company is around 28 per cent. The rest of the stake is
held by foreign institutions, non-resident Indians, mutual funds and other institutions
The Company’s top 10 shareholders as at March 31, 2009 are shown below:

4. TITAN’S PERFORMANCE
4.1 Income: (Rs. In crores)
4.2 Profit After Tax (PAT): (Rs. In crores)

4.3 Share Price Performance
5. WATCHES
a. History of Indian watch industry
The history of watches in India dated back to 1957. During a visit to Japan, Prime
Minister, Jawaharlal Nehru (Nehru), received a watch as a gift. This sparked off his
dream of seeing watches being manufactured in India.
The dream became a reality in 1961, when the government owned Hindustan Machine
Tools Ltd. (HMT), entered into a tie up with Citizen of Japan, to set up the first watch
factory. Citizen also trained select Indian people from HMT at its watch
manufacturing facility in Japan.

The first watch model manufactured by HMT- the Janata model- was gifted to the
senior most employee of the company by Nehru. In the next ten years, HMT's
production increased to 15,000 - 20,000 mechanical watches every month. The early
1980s saw a technological revolution, with the invention of the integrated chip in the
US. Digitals were in demand and LED (Light Emitting Diode) watches gained in
popularity. Japanese companies took over the manufacture of LCD (Liquid Crystal
Display) for digital watches. There was a discernible shift in focus from mechanical to
quartz watches in the international market. The Swiss watch industry declined
because of its attachment to the mechanical watches. HMT made the same mistake in
India.
b. Present Situation of the Indian Watch Market

The size of the watch market currently is estimated to be around 40 to 45 million
pieces annually. The organized sector alone contributes up to 30 percent of this figure,
and the rest of the demand is being met by the unorganized grey sector. In dollar
terms, the estimated annual market size is around USD 195 million, despite the fact
that the penetration of watches is the lowest, compared globally. Looking into this
fact and the long standing Indian tradition of comparing watches with jewellery and
other traditional items, many watch companies are interested in setting up base in
India.
The average growth in the size of the market is slated to be around 10 -15 percent per
year.
c. Segmentation of Indian Watch industry
Based on price
• Mass (Rs.350-600),
• Popular (Rs.600-900),
• Premium (Rs.900-1500),
• Super-premium (Rs.1500-8000)
• Connoisseur segments (above Rs.8000)
Based on user category
• Men’s watches

• Women’s watches
• Youth watches
• Kids watches
• Sports watches
d. Key Players (Competitors)
 Domestic Level:
Shivaki SITCO
 International level:
 Fashion Houses:

e. Market Share of Key Players
f. Titan Watches
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 setup a strong distribution network across India. As of 2005, Titan
watches account for a 25% 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.

The company manufactures over 8 million watches per annum and has a customer
base of over 80 million. It has manufacturing and assembly operations at Hosur
(Tamil Nadu), Dehradun, Roorkee and Baddi (Himachal Pradesh) and an ECB plant
in Goa.
5.1 Marketing Mix of TITAN Watches
5.1.1 PRODUCT
a. Product Length
Edge Raga Octane

Zoop WWF Heritage
Orion Nebula Sonata
Exacta Bandhan Spectra

Dash Ragalia Fastrack
Royale Classique Xylus
b. Product Life Cycle

Introduction: WWF, Orion, Zoop, Diva, Octane

Growth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc
Maturity: Sonata, Fastrack, Dash
Decline: Aqura
c. Segmentation of Titan watches

Dividing the market by grouping the customer with similar tastes and preferences into
one segment is called is called “segmentation”. Segmentation help marketers
understand the needs of different customers better and serve them with better value
propositions.
 Criteria for segmenting consumer market

Markets are mostly segmented on the basis of,
Geographic
Demographic
Psychographic factors:
Geographic segmentation
It calls for dividing the market into different geographic units such as nations, states,
regions, countries, and cities.
Demographic segmentation
In this the market is divided into groups on the basis of variables such as age, family,
size, life cycle, gender, income, occupation, education, religion, race, generation,

nationality, social class. These variables are the most popular basis for distinguishing
customer groups. The following are some of the demographic variables used to
segment the market:
• Age and life cycle stage: Consumer wants and preferences change with age.
These tastes and preferences are not constant and change with time.
Titan Perspective
Titan markets its products for all following age groups:
a) For the age group 12-20, brands like TIMEX, Sonata, etc.
b) For the age group 18-30, brands like FAST TRACK, TECHNOLOGY, SONATA
etc.
c) For the age group 30-55, brands like SONATA, NEBULA, RAGA, STEEL,
REGALIA, BANDHAN, etc.
• Gender: Gender segmentation has been applied to clothing hairstyling

cosmetics, wristwatches, magazines etc. There are certain brands, which are
positioned exclusively for a specific sex.
Titan Perspective
Titan markets its product across:
a) For Gents, brands like STEEL, REGALIA, SONATA, EDGE, FAST TRACK etc.
b) For Ladies, brands like RAGA, SILVER RAGA REGALIA etc.
c) Married couples, brands like BANDHAN.
• Income: Marketers tend to segment product and services on the basis of

income groups. Nowadays, companies have recognized the potential of lower end
income groups and have started targeting them.
Titan Perspective
Titan offers its products with a price range to suit the different income groups such as:
- Below Rs 500, brands like SONATA
- Between Rs (500-1500), brands like FAST TRACK, EXCTRA

- Between Rs (1500-3000), brands like SPECTRA, ROYAL,
- Between Rs (3000-5000), brands like TITAN, RAGA
- Between Rs (5000-10000), brands like EDGE, BANDHAN
- Above Rs 10000, brands like NEBULA
• Generation: Generation plays a major role in segmenting markets. Every

generation is deeply influenced by various activities. Such influences deeply impact
their product purchase pattern.
Titan Perspective
Titan has many products to satisfy all the generations. And through constant
innovation Titan developed many products for new generations like FAST TRACK,
TECHNOLOGY, FLIP etc.
Psychographic Segmentation
Buyers are divided into different groups based on personality, values, belief, lifestyle,
motivation, etc. People within the same demographic group can exhibit very different
psychographic profiles.
• Lifestyle: People generally exhibit different lifestyle depending upon their

income, social group etc. People usually buy the product which suit their lifestyle
Titan Perspective
According to the life style of people Titan has segmented it’s product to fit the
box.like in the luxury section it has NEBULA, AURUM etc. In the mid-premium
section RAGA, GOLD-STEEL, TECHNOLOGY, etc. And in the mass section, it has
SONATA,TIMEX and KARISHMA .
• Personality: Marketers can use personality variables to segment markets.

They endow their products with brand personalities that correspond to consumer
personalities.
Titan Perspective

Titan advertises its products by portraying movie stars as user of its products and it
offers a lot of option to its customers. For example:-
In economy category, 60 products
In luxury category, 26 products

In sports & casual category, 76 products
In fashion category, 99 products
In formal category, 14 products
 Behavioral Segmentation
Organizations can divide markets on the basis of behavior that consumer shows
towards the usage of the products. Various variables for segmenting market on the
basis of purchase behavior of customers are occasions, benefits, user status, usage
rate, loyalty, etc.
• Occasions: Markets can be classified on the basis of various occasions that

customers encounter because people need different products for different occasions.
Titan Perspective
Titan also offers occasion specific products like
a) Formal (NEBULLA, STEEL, RAGA, GOLD&STEEL)
b) Dress wear (REGALIA, RAGA, GOLD&STEEL, ROYALE)
c) Fashion (TECHNOLOGY, STEEL, RAGA, GOLD&STEEL, FAST TRACK)
5.1.2 PLACE
Titan firmly believes in providing total customer convenience in shopping. This fact
is justified by the location of their outlets and the recent move by the company to go
in for a major renovation of all the WORLD OF TITAN show rooms updating it to
modern selling concepts, saving space, making it more attractive for the customer,
easy maintenance, a show room which stands out from the rest. This has been done to
the highest standards taking care of even of the minute details.

Titan’s retail operations are a mix of company-owned and franchisee outlets, with the
idea being to ensure a dominant presence in all market areas through different kinds
of stores, and to assure the availability of every Titan product. Titan has concentrated
on customer perspective, and have engineered the entire chain to suit different
customers.
Titan concentrates more on the customer theme. Earlier there was no attempt in the
retailing sector to entice customer to buy a watch, but Titan has tried to bring the
brand to the customer in an appropriate setting. The company does this through its
`World of Titan’ show rooms.
Besides the franchisees and its own showrooms, Titan sells its product through other
outlets as well. Among them are the Time Zone stores, which stock all the leading
brands, and the Value Mart outlets, which operate in Bangalore and Chennai and sell
surplus – to export watches at a discount.
Customers can also count on a service-centre network that’s 550-strong and spread
over 30-odd cities and towns across the country. The service centers have been
deliberately kept apart from Titan’s showrooms. The business is different and the
customer is in two different moods at the two places.
Titan stores can be broadly classified into 4 stores each having its different features
making TITAN attractive to everyone.
• World of Titan
• Time Zone
• Sonata Store
• Traditional Outlets (like Value Mart)
• Non-Traditional Outlet
a. World of Titan
To experience the touch of Titan, all you have to do is walk into the stylish World of
Titan showroom anywhere in India.

The world of Titan is the biggest among all stores of the company and is an exclusive
dealer in Titan watches. These showrooms are generally about 1000-2000 sq.ft and
have an extensive range of watches. These showroom are the major revenue
generators of the company and every 5 years the showroom is fully done up updating
it to modern international standards.
b. Time Zone
Titan Industries brings together the country’s leading watch brands under one roof,
providing the customer with variety in brands, looks and price ranges backed by
efficient after-sales service. Presenting Time Zones – the chain of trusted watch
shops. Conveniently located, these 1142 Time Zones across 89 towns offer you the
complete watch shopping experience.
c. Sonata Store
If you’re looking for Sonata watch, visit these exclusive Sonata outlets which also
have an authorized Service Centre for Sonata & Titan brands. The idea of a Sonata
store came up to cater to the large scale demand for the watch and to open Titan to
more customers. More over these shops had full stocks of the watch in demand
whereas the others could afford to maintain only limited stock.

d. Value Mart
These outlets sell surplus stocks of Titan watches at reduced prices, offering fabulous
value for money with the same warranty as a regular, full-priced watch.
Distribution channels
Consumer perception of store ambience
Consumer perception of sales personnel

Consumer Perception about after sales service
Consumer perception of Display of watches
Overall perception about Titan showrooms

5.1.3 PRICE
There is always a positive relationship between high prices, high quality, and a high
advertising budget. Titan too demonstrates this feature. People are willing to pay the
price for the quality and titan spends 25 crores a year on advertising its products. This
is the highest spending done in the watch industry in India. More so ever with high
value and lower prices in case of the sonata, the product is the heart throb in the watch
industry.
a. Market Map

b. Market Positioning
PURCHASING
POWER
BRAND (PRICE) RS. CATEGORY
FAST
TRACK 550-1,430 YOUTH
EXCTA 595-1,430 LOWER MIDDLE CLASS (Office wear)
SPECTRA 650-1,830 COMMON CLASS
ROYAL 960-2,830 UPPER- MIDDLE CLASS
TITAN 2000-4000 LOWER MIDDLE CLASS & UPPER CLASS
LOWER MIDDLE CLASS - UPPER MIDDLE
SONATA 350-900 CLASS
RAGA 1,420-4,000 UPPER CLASS
BANDHA
N 1,675-8,085 COUPLES
REGALIA 1,725-7770 UPPER MIDDLE CLASS-UPPER CLASS
EDGE 4,500-5,200 BUSINESS CLASS
NEBULA 10,000-45,000 UPPER CLASS
c. Pricing Objectives
Sonat
Titan consists of watches that cater to various segments and to various categories and
so their pricing strategy is also in accordance to their products and the features offered
by them cashing in on monopoly, unique features, outstanding performance and the
Hmt
name TITAN.
maxim
Titan’s primary pricing objective is to kill Competition. Being an Indian manufacture
and infusing the advantages of the Indian market with the dynamics of the western
market the company has carved itself a place difficult to achieve by foreign players.
The Objective for pricing are mixed with them being,

Survival - Exacta, Spectra, Raga
Maximum Market Share – Sonata, World Watch
Market Skimming- Nebula, The Steel collection Insignia
Product Quality - Leadership – All watches in their respective segments.
d. Pricing Methods
Mark Up Pricing
Product Line Pricing
• Mark Up Pricing
Titan goes in for the mark up pricing strategy. The Titan product carries a maximum
retail price on it. Now shops such as the world of titan – exclusive showrooms buy
directly from the dealer and hence the element of the middleman is not there. A
retailer in this category buys the watch for 17-18% lesser than the MRP and hence he
is able to get the 17% profit margin on sales. It is up to the discretion of the retailer to
offer any discount on the MRP as it would affect what he gets in return.
• Product Line Pricing

The differences in the prices of the watches are justified by the features, the style, and
the differences which makes up each watch. Titan prices all its watches in such a way
that it maximizes the total profit on the total mix.
e. Application of pricing strategy

The main plank of the watch market is in the less-than-Rs.1,000 price category.
Effectively, about 70 per cent of the sales in the watch industry in India is in this
category. None of the foreign brands has a presence in this category. Only cheap
Chinese watches are present in this bracket and they compete with the unorganized
manufacturers, who are more expensive than them. So, the unorganized sector is

getting hit from the bottom by Chinese products and at the top by the organized sector
brands, such as Sonata.
• Lower Segment
The SONATA Brand which proudly emphasizes it to be a TATA product is the watch
for the common man and for the lower class of the society. Pricing itself between
Rs.300 – Rs.900 is Titan’s fastest selling watch. This watch was launched to make
titan everybody’s company from the image of it being a Richman’s company.
Watches were offered for as low as Rs.300 with a guarantee of 1 year and the styles
were very appealing for the price.
• 1000 Plus Segment

The TITAN market share is actually growing because of the increased share that has
been cornered in the Rs.1,000 –2,000 range, which is the main strength for Titan plus
a growing contribution from people upgrading to Rs.1,500 range.
In the last 2 years TITAN has been introducing lot of products in this range and have
been growing in this segment. The Indian watch market itself is expanding in the
price bracket of greater-than-Rs.2,500. This has been happening for the last couple of
years. The greater-than-Rs.2,500 price bracket is the highest growth category, though
it might be a small contributor to the total watch market. This segment is growing
because of the interest that has been created by the international brands. Titan was
quick to launch the steel collection, the world watch and its bandhan, insignia comes
in these ranges.
Titan used its technological prowess as its unique selling point. Priced in the
Rs..4,500-Rs.5000 range, Titan targeted the brand at the techno-savy consumer
looking for a prestigious watch, who would otherwise go in for a foreign brand.
5.1.4 PROMOTION
a. Advertising

Titan advertises its watches in almost all media vehicles. The advertisements can be
seen in TV, magazines, newspaper, Internet, hoardings, billboards, radio and so on.
Titan had also planned extensive ad campaign during the year for the different
brands of watches. The ad spend, would go up from Rs. 70 crore last year to Rs. 100
crore with watches going up from Rs. 50 crore to Rs. 70 crore.
Major Advertisement media
Effectiveness of Advertisement
b. Brand Ambassador’s
Titan Brand : Aamir Khan

Sonata : Mahendra Singh Dhoni

Fast Track : Genelia D’Souza
Raga : Gul Panag, Rani Mukherjee
Xylys : Rahul Bose, Saira Mohan, Carlos Moya

Awareness of brand ambassador’s
Kno
w
c. Taglines
Titan : Be more
Sonata : 'Naya Josh, Naya Vishwas'
Fast Track : How many you have?
d. Music Track and Ad’s
The most enduring part of the Titan advertising has been the music track. Chosen by
Xerxes Desai and the creative head of O & M in 1987 for its class and western vibes,
the segment from Mozart's 25th Symphony has arguably become Indian Advertising's

most memorable track (incidentally, and perhaps not coincidentally, this was the most
liked advertising track in the same Zee TV survey). Starting in 1987 in its pure
classical versions, with a single violin playing the melody, this piece has been
rendered in countless innovative versions over the years: Indian Classical, Indian
Folk, Operatic, Rock, Funk, and has become such a powerful audio mnemonic for the
brand.
The tune has been used in different ways: for example, in the `gifting'
commercials, the music only begins to play at the moment the person - daughter,
parent or wife - realizes he or she has been gifted a Titan. The tune is so well-known,
that when Titan celebrated the milestone of 50 million watches in January this year,
consumers could walk into Titan watch showrooms or call in radio stations and hum
the tune and win a watch.
In the early nineties, Titan chose to develop the "Gifting" market. Watches had
always been favorite things to gift, and Titan had benefited from that. Titan was
convinced that there lay a greater potential in that segment. A set of 3 films were
developed in 1991 around 3 relationships, where the gifting of a Titan culminated in a
moving personal moment and a strengthening of the bond between the protagonists.
These films became a big hit and created a genre of advertising films which lasted a
good 8 years. During those years, a series of films involving a variety of characters
(father, daughter, teacher, boyfriend, ex-boyfriend, thief!) and with local flavor (for
Onam in Kerala, Puja in Bengal) were created and released. These not only helped
build a good-sized gift segment for Titan, but also became Titan's Theme Campaign,
building strong emotional values for the brand. One of the films in the series, where a
man and his younger daughter conspire to give his older daughter a Titan as a surprise
gift at her wedding, released around 1994, went on to become the most popular Titan
film ever, even voted by the viewers of Zee Television as the second most liked TV
commercial on the channel.
e. Price Discounts and Allowances
Titan once a year comes out with a Price discount sale on the MRP of the watches.
Now this is entirely based on the stock carried by the company at the year-end.

f. Warranties and Service Contracts
Titan promotes sales by adding a free warranty or service contract to its watches and
this is backed up by the name TATA which is especially needed to convince and
march ahead in the lower segment market.
g. Promotion On Occasions
Titan is one of the companies which formally believes in the policy of promotion the
product based on the occasions of the calendar. With every occasion having a special
memory attached to it exploits this memory aspect and pushes its products. Not only
the promotion of the existing products is done on these occasions but new products
which would sell like hot cakes are launched for the sole reason it creates an impact in
the minds of customers and appeals to the occasion thus making it even more special.
In this context TITAN launched the THE BIG HEART OFFER FROM TITAN
FASTRACK where fashionable jewellery was a gift on purchase of any Fastrack
watch. This jewellery set of a pendant and earrings is contemporary and unique in
form and material, with steel and acrylic being used together for stunning effect. This
was launched for Valentines day where the name scheme, The watch being advertised
for (Fast track) as it pertains to the youth, jewellery (for the youth), valentines day
(more so for the youth) and adding to the excitement is A LIMITED EDITION
FASTRACK VALENTINE'S COLLECTION that is being made available in four
designs. Only 300 watches of each design will be on sale across cities during this
fortnight. These watches are designed is steel with leather straps in the colors of the
season – black, red and silver. The dials are in matched colors with heart patterns,
making the collection a true blend of fashion and romance. "Young couples are
looking for new ways to discover their relationships and this set of special watches
and matching
h. Sponsorship
Titan is involved in sponsoring major events, cultural and other fests in colleges,
schools and nation wide happenings. This way of promotion gives it the extra mileage
to increase its data base by directly tapping the customers to convince them about a
TITAN.

i. Seasonality
One major way of promoting the titan product is through seasons. To understand a
little more about it for Example. During a wedding season or for Diwali Titan
promotes Nebula, Bandhan because there is demand for the product. Gold watches
and pairs are the likes of a wedding occasion., similarly the fast track brand is
promoted in the months of June – August when schools and colleges re open and
since these watches cater to the segments of youth, these watches get the extra
mileage on sales if promoted during these seasons.
j. Gifting Concept
Titan initially started of as a brand which was associated with gifting and relations.
Today also titan is associated with the image it stated off with. The fight concept sells
well for people have come to associate titan with love, care and makes emotions run
high. More so ever the product is that of quality and style. The titan Nebula and
Bandhan would fall more aptly in this category and the Dash is promoted with the
gifting concept in mind because a parent gifts the child a watch.
k. Promotion Through Contests
TITAN ties up with various magazines, televisions, outlets where TITAN gifts could
be own for winning the contest. One of them is THE WEEK magazine where one
could win TITAN watches and also many magazines offer many watches depending
upon their needs. TITAN also offers bulk discounts to players who pick up in lots
offering it as a gift to schemes and to companies for their employees.
l. Promotion Through Television Programs
TITAN sponsors a program or a serial or ties u with for example a show like MTV
TIMECHECK done by ESPRIT, time wear. Such promotion done as an exclusive
sponsor and targeted at a particular segment. For example, if a youth program then
fast Track would be focused on and on CNBC or CNN business programs the Steel or
the World watch.

5.2 Marketing Strategies
Titan’s marketing strategy was initially built around five features:
5.2.1 Innovation
The underpinning of this entire market development and segmentation is Innovation.

Titan has kept innovation core to its strategy, realizing fully that the only way to
sustain the fashion accessory perception is by continuously coming out with
collections that make the current ones somewhat dated, thereby creating a certain
discomfort in the consumers' mind, which leads to another purchase. This impact has
shown up in every one of the collections spoken of earlier. They were fresh and
distinctive, unlike what consumers had seen before, and thus created curiosity, walk-
ins and sales.
A stellar example of Titan's Innovation is Edge, the slimmest watch in the universe.
Titan's R & D talent created a wafer-thin quartz movement, a mere 1.15mm thin, over
4 years of development work. The immensely talented Design team collaborated with
the Manufacturing group to create Edge, a 3.5-mm watch, a gem of elegance, with
water-resistance to boot! Edge was launched in India early 2002 to tremendous
market acclaim and sales success. It is a design and technological marvel, which

justly received the Best Design Award in the Lifestyle Product Category in the first
annual design contest organized by Business World and NID.
Consumer perception of new designs
5.2.2 Quality
Titan offered consumers quality products that blended classy designs with superior
technology; it became a byword for success stories. Titan more or less owns the word
“quality” in the minds of the consumers, thereby implying that it is perceived as a
quality product. Thus, it’s actual quality, as well as it’s perception of being a quality
product combine to work towards building the strength of the Titan brand.
• Certified under ISO 9001 in Dec.’94
• ISO 14000 certification in 2002
• TS 16949 certification in Feb ‘05
5.2.3 Creative Advertising

a. Aamir Effect
Though the decision had been made to use Aamir, the company was apprehensive that
the actor might dominate the brand (Titan) or the message (multiple ownership).
The marketing team at Titan wanted to keep the focus on the brand and the message.
A TVC created by Ogilvy & Mather (O&M) was launched in October 2004.

The commercial showed Aamir packing to leave for a tour and his assistant bringing
him his collection of watches to ask which ones he should take out for the trip.
b. Catalogue Advertising
From Day 1, the 'catalogue" advertising of Titan became its trademark as it was used
regularly and effectively to merchandise new models. The catalogue ads also helped
customers to shop off the page and almost decide which model they wanted to pick.
Retailers also became used to seeing customers walking into shops with newspaper
"cuttings", asking for the models shown there. This approach continues to this day,
with mostly the same effect.
5.2.4 Retail Stores
Another successful customer-facing aspect about Titan has been its stores.
Organized retailing did not exist in the late eighties. The concept of exclusive brand
stores was almost non-existent. In a pioneering effort that dramatically altered
industry standards, the World of Titan was born. Located in the newer parts of a city,
with a good frontage and layout, the showroom immediately stood out on the street
and attracted walk-ins. Once inside, you were totally impressed with the presentation.
You walked along the wall, where recessed "mood windows" showcased specific
collections in the appropriate context with the help of visuals, decorative props and
word (the place looked almost like an art gallery). You could get a better idea about
that collection through such a contextual presentation and could make up your mind
which collection was right for your requirement. Then you would walk along to the
selling area, where the entire range was displayed in style. Smart and helpful
salespeople waited on you there and helped you choose the best piece by giving you
information and suggestions. You walked away overwhelmed. This experience now
has over 255 branches and has penetrated the width and breadth of India. Helping the
brand increase sales, increase price premium, sell the more expensive watches,
improve image, keep competition at bay and keep the brand name salient on the high
streets of the country. Refurbished with a contemporary look in 2001, this chain has
become even more integral to the brand's destiny today.

5.2.5 Cutting Edge Technology

• The Design Studio
Excellent Watch and Jewellery design
Has international award winning designs to its credit
• Sophisticated Design & Development Centre
Advanced Pro-E workstations and prototyping facility
• Every Ford Mondeo car rolling out of the plant in Genk, Belgium has a Titan
Clock
Reasons for brand preference
5.3 Brand Positioning Strategies

Since its introduction, Titan has been positioned as a premium brand, providing high
quality products. With its numerous sub-brands catering to different segments, the
challenge that Titan faces is to create a strong brand image. It follows different
positioning strategies, these strategies can also be analyzed as given below:
5.3.1 Attribute Positioning
When the company launched its products, it was the first to bring quartz watches to
the Indian market. The company successfully leveraged this to penetrate the market
and gain a market share. Raga, Classique and Regalia come under this strategy.
Classique has been positioned as elegant corporate wear that leaves a quiet, but
definite impression and fusion of function and sophistication. Power dressing now has
a new weapon! As Magic in gold and bicolour look, the 'Regalia' range represents the
essence of dress-wear. Raga has been differentiated and positioned as exclusive
watches for women. The Raga and Silver Raga collection is elegant, delicate and
feminine with each piece being truly unique.
5.3.2 User Positioning

Titan caters to several user groups- children (the Dash), sportspersons and adventurers
(PSI4000 and Fastrack range). The Fastrack range is seen as being contemporary,
sturdy and reliable. The advertising, packaging and merchandising of this range is
young, vibrant and ‘cool’ (the ad line says “Cool watches by Titan”)
5.3.3 Benefit Positioning
The Fastrack Digital range offers the customer a functional watch that is also
attractive. The digital watch has a “techno-geek” image, but Titan seeks to
differentiate its offering on the basis of superior style and attractiveness.
5.3.4 Competitor Positioning
With the entry of several foreign watchmakers into the market, Titan had to counter
the threat. Most of the entrants are catering to the upper end of the market- Omega,
Tissot, Cartier etc. Titan already had the Tanishq brand in this segment. However, it
has tried to reposition this brand by increasing the price range to encourage more
customers.
5.3.5 Quality or Price Positioning
In the overseas market, especially in Europe where it is competing with Swiss and
Japanese watches, it is positioning itself as ‘value- for- money’: reasonably priced
(less than Swiss watches and higher than Japanese), attractively styled and of good
quality. In Indian market, Sonata is a perfect example of Price positioning, titan came
up with this segment when it was facing heavy competition from lower end segment.

5.4 SWOT Analysis

5.4.1 Strength
a. Style: Titan first introduced the ‘style’ concept in India and projected the watch as
a fashion accessory. Now a day’s style is a very much evident factor among the youth.
And there is a craze for stylish wristwatch. So, Titan makes the peoples life more
glorious by making stylish wristwatch.
b. Models: As Titan offers the best and the biggest range to customer to choose the
watch of their choice with an affordable price.
It offers about 14 different names with about 1000plus different varieties with a watch
for literally everyone.
c. Exclusive products: Today Titan holds the pride for say that its products both
within the country and internationally running in battle position. Its EDGE the
slimmest watch in the world position.
Other than these there have few more strength like-
• Contribution of owned brands and retail. The profit is accounted by being in the
retail space which is booming.
• Watches are available with popular functions like dates, multifunction and
chronographic.
• Guarantee/warranty
5.4.2 Weaknesses
a. Pricing: the average price of Titan in mid-price segment is very high than the
other competitor. Average price for Titan is Rs.1100 while the price for HMT is
Rs.550. In the mid-price segment the company is not performing up to the mark
due to the lack of choice of consumers.

b. Market share: As the average price of Titan wristwatch is far more than the other
competitor, Titan has less market share. The market is more demonstrate by
middle class people and for them Titan is quite costly. Among 75% market share
in mid-segment. Titan market share is between 18-20% which is far lower than
HMT and Maxima.
c. Globalized: As the company is Indian based which leads it to the strength, where
as it is the weakness also because the company not sufficiently globalized.
5.4.3 Opportunities
a. Seasonality: At the time of festival, like Diwali Titan promotes Nebula, Bandhan
because there is demand for the products.
• Gold watches and pairs are the like as a wedding occasion.
• The fast track brand is promoted in month of June-August when schools and
colleges re-open.
b. Gifting concept: Titan started as a brand which was associated with gifting and
relation. The fight concept sells well for people have come to associate Titan with
love care and makes emotion run high.
c. Exchanging offer: The Titan stores offer exchange offer of any old watch, of any
make, in any condition functional or otherwise and receive a flat discount of 25%
on their purchase of a brand new, stylish and technologically advanced watch
from Titan.
5.4.4 Threats
a. Competitor: As we know that lots of Foreign brands are entering in our
country with their branded watches. As the removal of quantitative restrictions on
import watches leads to threat to titan.
b. Premium segment: As in premium segment Titan is getting threats from reputed

international brand such as Espirit, Swatch and Citizen.
c. Mobile: Now a days people can get the time and the other feature in mobile
phone. So, the need of wristwatch is in decreasing trend. People can talk and see
the time in a cell phone and some people think that there is no need of wristwatch.

5.5 Awards
The company has been awarded the following distinctions:
• Being named the No.1 Brand in the Consumer Durables category in the "Brand
Equity" Survey of The Economic Times, a leading Indian financial daily.
• The Titan Design Team won the Young Design Entrepreneur of the Year award at
the design awards instituted by the National Institute of Design and Business
World, a leading Indian magazine. The team has won 7 accreditations also.
• Both Titan and Tanishq have been adjudged "Most Admired Brands" as well as
"Retailer of the Year" by Images Fashion Forum in consecutive years.
• Retail Asia and Media Magazine – Singapore adjudged Titan Industries as

amongst the leading Retailing Companies in India.
• Titan has won the Brand Leadership award at the India Brand Summit.
• The Time Products Division of the company was awarded the JRD QV Award in
2006.
6. JEWELLERY
a. Industry Overview
Jewellery play a significant role in Indian customs and traditions, making this sector
integral to the economy and one of the fastest growing industries in the country.

Worldwide, the gems and jewellery industry has been growing at a good pace and is
currently estimated at over US$ 130 billion. In India, it accounts for nearly 20 per
cent of total Indian exports. It provides employment to 1.3 million people directly and
indirectly.
The Indian market is laden with gold jewellery of varying karatage, which has seen
huge appreciation in value terms in recent times.
Below are some of facts on Indian Jewellry market,
• Size of market: Rs. 75,000 crores.

• Branded jewellery is less than 5% of the overall market.
• India is the largest consumer of gold & also the largest diamond processor in the
world.
• Indian market is highly unorganized:
96 percent of the total players being family owned businesses.
Absence of hallmarking
• Product mix: largely plain gold 22kt

• India’s large population and rapid economic growth offer significant opportunities for
growth of the industry.
b. Jewellery Market in India

c. Branded Jewellery Market in India
d. Market Structure
e. Competitors

Branded Segment competitors
• Asmi
• Nakshatra Diamonds
• Gili
• Nirvana Diamonds
• D'damas Diamonds
• Adora Diamonds
• Kiah Diamonds
Branded Segment Competes with approx. 300,000 traditional jewelers in the domestic
market such as,
TBZ, CKC – Banglore, Prince Jewellery, Joy Alukkas, GRT-Chennai, Notandas,

Anmol, Mahesh Notandass, Minawala, Orra, Nirvana, PN Gandgil Haoorilal, Punjab
Jewellery etc

India's Top Ten Best Known Jewellery Brands
f. TANISHQ
Tanishq is India's largest, most desirable and fastest growing jewelry brand in India.
Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd -
promoted by the TATA group, India's most respected and widely diversified business
conglomerate.
This year marks a decade of successful innings for Tanishq. With a retail sales of
1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the
Indian jewelry market. It is a story of a successful Indian enterprise, which has

delivered value to its customers and shareholders in a complex category, marked by
its completely localized front end as well as back end.
Tanishq has set up production and sourcing bases with through research of the jewelry
crafts of India. Jewelry at Tanishq is crafted in one of the world's most modern
factories. The factory complies with all labour and environmental standards. Located
at Hosur, Tamil Nadu, the 1,35,000 sq. ft. factory is equipped with the latest and most
modern machinery and equipment. Every product at Tanishq is painstakingly crafted
to perfection. Diligent care and quality processes ensure that the Tanishq finish is
unmatched by any other jeweller in the country. It is a certified division under the
ISO 9001:2000 Quality Management System Standards.
Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It
exploded the market with facts about rampant impurity across India. It introduced
technology-backed challenge in a category completely governed by individual trust.
Tanishq introduced innovations like Karatmeter, the only non destructive means to
check the purity of gold.
Tanishq also introduced professional retailing in the dis-organised Indian jewelry

bazaar, where women can shop with comfort and peace, without worrying about the
purity of the jewelry they are buying, as well as, select from the best jewelry
collections available in the Indian market.
Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64
cities, with an exquisite range of gold jewelry studded with diamonds or coloured
gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite
platinum jewelry is also part of the product range.
Market share:

6.1 Market Mix

6.1.1 PRODUCT
a. Product Variety
• Product Line
Tanishq Diamonds
Tanishq Gold
Tanishq Platinum
• The Collections
The Diamond Collection
The Wedding Collection
The Zoya Collection
The Fashion Earring Collection
The Kundan and Polki Collection
The Colours of Royalty Collection
The Moham Collection
The Aria Collection
Exquisite crowns and jewelry : Miss Universe, Miss World, Miss Earth

b. Design
• Tanishq is known for its ability to develop specialized design

collections.
• Each piece of jewellery is designed by a team of award winning

designers.
• Designed to suit all forms of attire, western and Indian, casual

and formal.
c. Brand
• Brand name ensures innovation.
• Considered equivalent to purity and tradition.
Diamond Collection Wedding Collection
Zoya Collection Fashion Earring Collection

Kundan and Polki Collection Colours of Royalty Collection
Moham Collection Aria Collection
Exquisite crowns and jewelry

6.1.2 PLACE
• Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently,
the average store-size for Tanishq is 1,000-1,500 sq ft.
• The stores operate on the franchise model.
• Tanishq retail identity has evolved over the years to offer large format and concept
stores that reflect the brand’s philosophy of being “Revitalizer of Tradition”.
• It has opened two pilot stores at Chicago and New Jersey with a retail format of
1,800-2,000 sq ft.
• The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities,
making it India's first and largest jewellery retail chain.
TANISHQ in Chicago

6.1.3 PRICE

6.1.4 PROMOTION
• ‘Concept’ stores, the first of which, costing Rs 10 crore, opened in Kolkata. The idea
of such a store was to harmonize the tradition of the past with the modernity of the
present.
• Titan transposed designs by stocking Bengali designs in Delhi, Keralite designs in

Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a
variety of people.
• In 1998, it launched the corporate gold gift scheme - 'When you want to say thank
you, say it in gold'.
• In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be
given away as gifts to Maruti car owners. By 2001, the scheme accounted for almost
5% of the turnover and over 30 corporate clients like Coca-Cola, the UB Group,
Whirlpool, TVS Group, Ceat and Liberty shoes.
• Tanishq has also endeavored to be part of every occasion in an Indian woman’s life
through festive promotions, customer contact programmes as well as through
Anuttara, Tanishq’s exclusive consumer reward programme etc.

• Akshaya Tritiya is one of the four most auspicious days of the Vedic calendar. The
Akshaya Tritiya pre-booking scheme along with the 10 per cent deduction on making
charge offer is available across all Tanishq boutiques

• Launched Jodhaa Akbar collection and managed to get lot of marketing hype. The
collection is very pricey and suggested retail price is between Rs 25,000 to Rs 15
Lakhs.
• Kept the entry-level price as low as Rs 600 (for a pendant) and offered a range, which
far exceeded that offered by any other jeweler.
• Initiated a loyalty program called the Golden Harvest Savings Scheme, which offers
buyers the benefit of getting more jewellery than what they have paid for. The scheme
allows consumers to plan future purchases in advance and pay for them in easy
installments.
• Exchange offer - change impure gold for pure 22 karat gold - attracted more people
to the stores.
Advertising

Ms Asin the bollywood and south Indian actress is the brand ambassador of the
Product Tanishq.
T V Advertisement: Tanishq focus on the emotional attachment in the advertisement

like engagement, marriage and such other occasions.
Print advertisement: In Leading news paper and famine magazines are targeted to do
the advertisement.
In short they know their target market and hence do advertising as required.
Bollywood tie-up: Has done tie up with Paheli where in the movie Ms Rani Mukherji
Was seen wearing Tanishq jewellery through out and in Jodha Akbar Movie were
they launched a product line named Jodha Akbar.

7. EYE WEAR

Titan Eye + is the third major line of consumer business from Titan Industries Ltd,
ventured into the eyewear segment in March 2007. Titan Eye+ offers wide range of
stylish and contemporary eyewear through exclusive optical stores across the country.
• Started in 2004-05 by marketing Sunglasses under the Fastrack brand

• Targeted the youth segment
• Achieved a sales turnover of over Rs 25 crores in 2006-07 and Rs 40 crores in 2007-
08.
• In March 2007 Titan industries and TIDCO announced their joint venture into
prescription eyewear business.
• Operations started in April 2007.
• Expansion plan in the offing :plan to open 150 eye+ stores and 100+ franchised
stores.
7.1 Product and services
• Eye checking, Optometry

• Range of frames - Titan & licensed brands
• Range of Branded Lenses
• Sunglasses – Titan, Fastrack & licensed brands
• Contact Lenses, Accessories

7.2 The Eyewear Market-An Untapped opportunity
• 30% of population typically needs correction in vision i.e approx 300 mn users.
• 84mn users – which is about 25% of those who need the correction onsumers change
their glasses / frames once in 3 to 4 years on an average.
• 25-35 million units of eye wear per annum
• Rs 1500-1800 crs per annum
• Comparable to the watch industry
• Repeat purchase is a regular feature from adolescence to old age.
• Almost everyone over 40 yrs needs correction.
7.3 Value Chain

8. PRECISION ENGINEERING BUSINESS

Leveraging precision engineering core competencies from watch making, Titan

initiated a PRECISION ENGINEERING DIVISION in 2002, catering to global
majors across industry verticals like aerospace, automotive, oil & gas, engineering,
hydraulics, solar and medical instruments
The company's Precision Engineering Division supplies precision components to the

avionics and the automotive industry. It also manufactures dashboard clocks as OEM
to car manufacturers in Europe and America. The division also provides fully
integrated Automation solutions
With an investment of over $10 million, the setup has four main business units,
• Precision Engineering Components & Sub-Assemblies (PECSA)
• Machine Building & Automation Solutions
• Tooling Solutions
• Electronic sub-assemblies
8.1 Current Position

8.2 Customers
Domestic
International

9. INTERNATIONAL BUSINESS
One of India’s first companies to market a consumer brand overseas. Now present in
26 countries outside India Among the top 3 brands in some Asian countries Selling
650k watches annually with increasing presence in jewellery. Total export sales of
over Rs 100 crores in 2006-07. Ranked No.3 amongst the top Life style Brands in the
watches category by Business Today ( Oman) for the third year in a row.
Countries
Ghana Nigeria Uganda Kenya Ethiopia
Djibouti Yemen Saudi Arabia Oman UAE
Qatar Bahrain Kuwait Iran Pakistan
Nepal Bangladesh Vietnam Brunei Mauritius
Maldives Sri Lanka Thailand Malaysia Singapore
Fiji
10. SOCIAL RESPONSIBILITY

Titan Industries has a clearly defined policy for Corporate Social Responsibility
(CSR). As part of the company’s CSR initiative, the manufacturing units of Watch
and Jewellery Divisions at Hosur have acquired the certifications ‘ISO 9001: 2000
Quality Management System Standards’ and ‘ISO 14001:2000 Environment System
Standard’ emphasising the efforts to be an ecologically responsible organisation.
The company’s diverse CSR initiatives include:
• Children’s education
• Enabling the disabled
• Artisan parks
• Women’s empowerment
• Environment management programmes
• Miscellaneous community initiatives
Titan Industries’ community initiatives are committed to build partnership for social
development, focus on sustainable initiatives and improve the quality of life of the
communities where the initiatives operate. With a dedicated force of 250 enthusiastic
employee volunteers, the company has formed a Community Development Forum.
This forum works towards mobilising society and volunteers to make the community
initiatives a success. The company’s miscellaneous community development
activities include orphanage support, HIV/Aids awareness, village adoption, vision
improvement program, a program to provide work to rural unemployed women,

community rehabilitation, tsunami relief work, eradication of child labour and
environment protection, to name a few. The company has made a positive change in
the lives of over 2000 people.
Corporate responsibility begins at home
Titan Industries believes that corporate responsibility begins with the employees. The
company ensures that the harmony, peace and inclusive approach at work place are
maintained. Efforts are made to engage the employees in programs designed to fulfil
our ecological and social responsibility. Various work-place initiatives are conducted
to achieve this: War on Waste - an initiative that reduced the impact of manufacturing
operations on the environment. At Titan Industries, Corporate Social Responsibility is
more than philanthropy - it is an internal process that reflects the soul of the company.
Successful CSR programmes:
Titan Industries has embarked on and completed several community development

programmes as part of its CSR initiative. A few among these successful projects are:
Titan Scholarship - for students in Dharmapuri and Krishnagiri districts (Tamil

Nadu), based on academic performance and socio-economic background for over 550
students form the economically backward section
Titan Township – a sustainable community in Hosur (Tamilnadu), that provides

housing to 1300 residents collaborating with NGOs MCA and Ashraya
Employment - to over 120 physically challenged people
Karigar Park – a social entrepreneurship project with six parks, benefiting over 400
artisans
Titan School and Titan Foundation for Education - a primary school with over 550
students, expanding to classes IX and X with a provision to accommodate 160 more
students
Meadow Project (Myrada) – a collaborated effort with self-help groups of rural

women to provide gainful employment to more than 400 rural women in and around
Hosur (Tamil Nadu)
Recognition of CSR:

As an appreciation of its significant contribution to the community welfare, Titan
Industries has received the ‘President of India’s Award' for employing the disabled.
Titan Industries, a signatory to the Global Compact, is a recipient of the prestigious
‘Helen Keller Award’ and the ‘Mother Teresa Award’. The company has also been
ranked as one of the top four and top ten companies in the ‘Karmayog CSR Rating of
India’s Top 500 Companies’ in December 2007 and 2008 respectively.
Other noteworthy awards for CSR include:
• FICCI-SEDF Award for Social Responsibility
• The Rotary Club of Bangalore Award for Corporate Citizenship
• The PHDCII Award for Good Corporate Citizenship
• Ranked among the nation's best corporate citizens, Titan Industries is committed
to take on the social responsibility and fulfil it with dedication.
11. CONCLUSION
Titan Industries is India’s leading manufacturer of watches and Jewellery and the
world’s sixth largest manufacturer brand of watches. Titan has over 60 per cent of the
domestic market share in the organised watch market. Its exclusive retail showroom
chain - World of Titan - is amongst the largest in its category. Titan watches are sold

through over 9,000 outlets in over 2,300 cities and internationally in over 30
countries.
To a large extent, TIL was successful in enhancing the presence and acceptance of
most of its sub-brands. As an IIM-B professor said, "The varied offerings to diverse
segments with a clear cut positioning strategy have been instrumental in sustaining the
market share of the (Titan) brand. TIL to a great extent attempted to balance the
positive aspects / associations of the mother brand with the option of using sub-brands
to appeal to several segments.”
Titan’s strategy to project watches as part of one’s personality, and not just as a
functional product, had also gone down well.
The opening of the Indian market and the arrival of premium Swiss brands has
certainly led to Indian consumers being exposed to global brands, styles and various
price levels. To the Indian consumers, the high price of Swiss watches has helped
them to realize the value of Indian brands, particularly of Titan, which offers
equivalent quality, but at lower prices and with better distribution and service. Titan
has shown its differentiation, and customer centric approach which helped them to get
the market.

Titan - The Market Leader

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Titan - The Market Leader

Uploaded by

Copyright:

Available Formats

TITAN – THE MARKET LEADER

East Point College of Engineering for Women Page. 1 of 67

East Point College of Engineering for Women Page. 2 of 67

1.1 ‘Titan’ name

1.2 Titan’s Subsidiaries

East Point College of Engineering for Women Page. 3 of 67

1.5 Values and Standards

b. Employee appreciation - Value and respect Titanians and endeavour to fulfill

c. Performance culture and teamwork - At Titan Industries, high performance is

d. Creativity and Innovation - Driven by innovation and creativity, focus on

e. Passion for excellence - In all pursuits, ceaselessly strives for excellence.

f. Corporate Citizenship - Ensure that a part of resources is invested in

2. TITAN’S BUSINESS AND BRANDS

East Point College of Engineering for Women Page. 4 of 67

3. MANAGEMENT AND SHARE HOLDERS

3.1 Board of Directors

3.2 Senior Management

East Point College of Engineering for Women Page. 5 of 67

Mr. Bhaskar Bhat

East Point College of Engineering for Women Page. 6 of 67

4.1 Income: (Rs. In crores)

4.2 Profit After Tax (PAT): (Rs. In crores)

East Point College of Engineering for Women Page. 7 of 67

4.3 Share Price Performance

a. History of Indian watch industry

East Point College of Engineering for Women Page. 8 of 67

b. Present Situation of the Indian Watch Market

c. Segmentation of Indian Watch industry

Based on user category

East Point College of Engineering for Women Page. 9 of 67

d. Key Players (Competitors)

East Point College of Engineering for Women Page. 10 of 67

e. Market Share of Key Players

East Point College of Engineering for Women Page. 11 of 67

5.1 Marketing Mix of TITAN Watches

Edge Raga Octane

East Point College of Engineering for Women Page. 12 of 67

Zoop WWF Heritage

Orion Nebula Sonata

Exacta Bandhan Spectra

East Point College of Engineering for Women Page. 13 of 67

Dash Ragalia Fastrack

Royale Classique Xylus

b. Product Life Cycle

East Point College of Engineering for Women Page. 14 of 67

Introduction: WWF, Orion, Zoop, Diva, Octane

c. Segmentation of Titan watches

 Criteria for segmenting consumer market

East Point College of Engineering for Women Page. 15 of 67

• Gender: Gender segmentation has been applied to clothing hairstyling

• Income: Marketers tend to segment product and services on the basis of

East Point College of Engineering for Women Page. 16 of 67

• Generation: Generation plays a major role in segmenting markets. Every

• Lifestyle: People generally exhibit different lifestyle depending upon their

• Personality: Marketers can use personality variables to segment markets.

East Point College of Engineering for Women Page. 17 of 67

In luxury category, 26 products

• Occasions: Markets can be classified on the basis of various occasions that

East Point College of Engineering for Women Page. 18 of 67

East Point College of Engineering for Women Page. 19 of 67

East Point College of Engineering for Women Page. 20 of 67

Consumer perception of store ambience