brand audit titan

Presented by

Jay AkhaniChetan PanaraJay Ajudia

Brand Audit on

Brand Inventory

About TITAN

Titan Industries is the world's fifth largest and India'sleading manufacturer of watches.

The Titan portfolio has over 60% share in the domesticmarket

Share in the organized watch market. To ensure adominant presence in the market the company has

showrooms in every nook and corner of the country thatcaters to the needs of every segment of the people.

Company History

•In 1984 the company was incorporated on 26th july at Chennai.•In 1992 an MOU was signed with Casio computer company of Japan to manufacture 2million digital and

Ana-digital watches.•In 1987 the company set up a manufacturing facility at Hosur.

•In 1989 the case plant at Hosur was commissioned.

In 1992 over 150 models were introduced.

Competitive factors

Brand profile of TITAN

• Edge• Raga• Octane• Zoop• WWF• Heritage• Orion• Nebula• Sonata• Exacta• Titan Bandhan watches• Spectra• Dash• Regalia• Fastrack• Royale• Classique• xylus

Brand Portfolio• Titan Edge - World’s slimmest watch (at 3.45mm) that epitomizes the

philosophy ‘less is more’.• Titan Raga - a feminine and opulent accessory for today's affluent

woman• Nebula - watches crafted with solid 18k gold and precious stones• Sonata - India's largest selling watch brand to suite the common man's

wallet• Xylys - a Swiss-made, impeccably designed watch for the connoisseur

and new age achiever• Fastrack – watches created to accessories the trendy youth of today• The watch division also boasts of collections such as Automatic,

Heritage, Nebula, Orion, Raga, Zoop and series like Aviator, Octane and WWF.

Product related attribute

• Distinct watches in Gold and Leather• Stylish watches in Gold and Precious metals• Contemporary watches in stainless steel to withstand rigors of

daily life• Casual watches for youngsters and for outdoor use• Jewellery watches in 18 carat Gold, studded with Gems and

coloured stones• Use of plastic dials for bold and contemporary design

Product life cycle

Introduction : WWF, Orion,Zoop, Diva, Octane

Growth: Nebula, Insignia,Raga, Royal, Regalia, Edge etc

Maturity: Sonata, Fastrack, Dash

Decline: Aqura

Place

• Objectives and intentions- Broad basing their sales and marketing activities across the country.- In terms of town coverage, dealer network and new approaches to communication strategy, especially in non metros.- Plan and implement sales and marketing activities to achieve their targets.- Fine tune all marketing inputs in terms of media and other budgets to meet territory specific needs.-Identify performance targets with specific centres and improve cost effectiveness of operations.

Distribution channels

Cont…

TITAN PRICING

• Pricing Objectives

1. Survival (i.e. Titan Exacta)

2. Market share (i.e. Titan Sonata)

3. Market skimming (i.e. Titan Nebula)

4. Product quality

• Application of pricing strategy

1. Lower segment

2.1000 plus segment

TITAN Citizen

Timex

Watch Market Map

Rs 500 1000 2000 4000 5000 30,000 +

Formal / Classic

Fashion/Sporty

Sonata, HMT,Maxima

Espirit, Swatch Fossil Giordano, DKNY, Carrera Tommy Hilfiger

Raymond WeilTissot

Omega,Rado, Longines

Tag Heuer Hugo BossC Dior

Fastrack

XYLYS

10000

Nebula

PROMOTION:-

1. Advertising2. Sales promotion3. Public relation

• Advertising media:• Television

• Print• Internet

• Titan brand ambassador:

• Titan Brand: Aamir Khan• Sonata: Mahendra Singh Dhoni

• Raga: Katrina Kaif• Xylys: Farhan Akhtar

Titan tagline: Be more

Fast track tagline: How many you have?

Public relation

•Gift concept

•Promotion On Occasions

Sales promotion

•Sponsorship

•Promotion through Contests

Brand Element

• Tagline: BE MORE. WHAT’S YOUR STYLE• Substantiality• Accessibility• Represent ability• Measurable• Likeability• Transferable• Legal Protection• Slogan• Jingle

SWOT Analysis• Titan has a domestic marketshare in excess of 50 per cent,in the organized watch market.India's leading watchmanufacturer and the world'sfifth largest . Their globalsourcing and economies ofscale give a significant price

advantage and enable to offeran easy entry for consumers tothe branded world at this price

point. Here we will focus on theSWOT analysis of Titan.

STRENGTH• The Indian watch market is increasing rapidly & Titan is

the leader.

• Sonata is currently India's largest-selling watch brand.

• Market segments with large potential: women, youth,children, sportsmen, the budget-conscious and, ofcourse, the big spenders.

• Successful story of Fastrack, Orion, Raga, Octane,Xylys etc. The recent launch is of thechildren's range, Dash & Nebula (Premium class).

• 112 'The World of Titan' across 89 Cities and a chain ofto being present in over 5545 dealer outlets in 1470towns across the country.

• Customer value and offered after sales service in ashowroom environment. Proper differentiation fromother.

WEAKNESS• Titan has no such

weakness, but it has lots ofproduct in watch. Whichdon’t create brand equity toa particular brand.

•Main USP is low costwatch.

• Can’t utilize properly theresources (domestic partssuppliers).

OPPURTUNITY• Growth of Indian watch market is very fast & huge

opportunity in organized watch market.

• Nearly 34 million watches are sold through grey marketchannels.

• The second-largest branded player in the Indian watchmarket is Timex, with a market share of around only 7%& HMT remained into losses for last 5 years.

• Currently, sales in India stand at an low number of 25watches per 1,000 people, compared with 250 watchesper 1,000 people in a developed society.

THREAT• Premium international watch brands

such as Swatch, Esprit, Tissot,Longines, Rado and Omegaentered in India.

• Now that the Indian market is widelyopen to importations, it will be

extremely difficult for the Indian playersto maintain a sustainable growth.

• Too many players will dilute the market& the profit margin

• Mobile phones acting as substitutes ofthe watches .

Brand ArchitectureTITAN

Low end

Sonata

Dash

Mass market

Fastrack

Exacta

Premium

Fastract Classique Spectra Royal

Regalia

Luxury

Raga

Xylys

Nebula

Bandhan

Tanishq

PSI2000

Brand Exploratory

Customer Knowledge

• Image:• Time• Amazing Design• Elegant• Simple and Stylish• Totally Inspiring, Talismanic, Amazing and• Nice• Remember the titans movie• Watch• Power of TIME• Distinct sound of their advertisements• TITANS• Greek GOD• Performance:• Ruggedness• Durability•  • Sports:• Trendy• Advanced Features• Digital•  • People:• High-Class• Fashion• Style

Customer Knowledge

• Image:• Time• Amazing Design• Elegant• Simple and Stylish• Totally Inspiring, Talismanic,

Amazing and• Nice• Remember the titans movie• Watch• Power of TIME• Distinct sound of their

advertisements• TITANS• Greek GOD

• Performance:• Ruggedness• Durability•  • Sports:• Trendy• Advanced Features• Digital•  • People:• High-Class• Fashion• Style

Brand Strategies

Positioning

• Attribute Positioning• User Positioning• Benefit Positioning• Competitor Positioning• Quality or Price Positioning

Segment• On the basis of age

– For Youth: Fast Track– For elder: Sonata

• On the basis of Gender– For Men: sonata, fast track, titan, nebula etc.– For Women: Raga, Octane

• On The Basis Of Lifestyle– For Professional And Elders: Steel and Sonata– For Students: Fast Track.

Cont…

• On The Basis Of Income:– Upper-Middle Class: Price range 20K-1L

• Royal, Aurums, Nebula

– For Middle Segment: Price Range Rs. 500-1500 • Exacta, Fast Tracks

– For Lower Segments: Price Range Rs. 350-500• Sonata

CBBE Model

Conclusion• The opening of the Indian market and the arrival of

premium Swiss brands has certainly led to Indianconsumers being exposed to global brands, styles andvarious price levels. To the Indian consumers, the highprice of Swiss watches has helped them to realize thevalue of Indian brands, particularly of Titan, which offersequivalent quality, but at lower prices and with betterdistribution and service. Titan has shown itsdifferentiation, and customer centric approach whichhelped them to get the market.