how titan watches changed consumers perception about wrist watches

7/27/2019 How TITAN Watches Changed Consumers Perception about Wrist Watches

1/16

How TITAN Watches Changed Consumers Perception aboutWrist Watch?????

Consumer Behavior


2/16

The Perception

In 1980s wrist watches were seen as.

A Functional Product

Durable & Precious

A one time purchase

Timeless - Can be handed over generations

The Indian Watch Industry

HMT and Allwyn were the only companies.

No brand with strong personality


3/16

The TITAN Story

In the 1980s, Xerxes Desai and his team dreamed about a range of watches thatcould revolutionize the attitude of people towards the accessory that so far

only indicated the time. They foresaw a future where style and design coexistedwith utility; where a watch would flatter a dress or make a look.

The Titan customer is known to indicate a strong sense of trust and loyaltytowards the brand. Titan has been voted Most Admired Brand (across

categories) and the Most Admired Consumer Durable Brand several times.Titan is now the 5th largest watch producer in the world.

Titan has left an indelible footprint across the world, taking itsdedication to quality and flair for design to 27 countries

worldwide, including the Middle-East, South-East Asia and Africa.As you read this, a Titan watch is being bought somewhere in the

world.


4/16

Durability to Sophistication

UtilityDevice

Personal

Product

Style andFashion

Accessories

Strategy:

Brand Marketing

Well-Planned Advertising

Segmentation

Targeting

Value Proposition

Right Product Mix


5/16

Breaking The Rules!!!!

Mechanical technology was the norm - Quartz had not really takenoff in India. Titan built its line

Styling was basic - This was a constraint imposed by technology.Titan decided to make style a table-stake.

Shops were dark, dingy and uninteresting - no importance given topresentation. Titan brought in the concept of retailing in watches.

Advertising was expenditure - Titan saw this as a vital investment.Right from Day one, Titan invested significantly in advertising.


6/16

Market Segmentation

Demographic

Age

Gender

Education

Income

ReligionOccupation

Family Lifestyle

Psychographic

Lifestyles

Psychological

Variables

- Personality

- Self-image

Benefits

ExpectedBenefits from

Product use

Geographic

CountryRegion

Urban/Sub-urban/Rural

Population Density

City Size

Climate

Potential

Markets


7/16

Strategic Targeting

Segment customers into clusters

Caters to all segments of consumers

High Income Group

Middle Income Group

Low Income Group

Marketing plan based on product and media mix

for the respective target audience


8/16

There is a TITAN for every occasion,

every mood and every look.

1986: The New World Watch

Target: Un penetrated segment

Objective: Position as a Premiumbrand with global reach.

2004: Whats Your Style

Objective: To position as a

Style Brand. Aamir Khan asBrand Ambassador

1997: Launched Sonata

Target: Budget Conscious

Symbolism: Affordable,Quality

1998: Launched Fastrack

Target: Youth

Symbolism: Trendy

2006 - Collaborated with

European Designers to Design

New Watches & Launched Xylys

Target: High End

Symbolism: Luxury Swiss Made

1992: Launched RAGA

Target: WomenSymbolism: Ethnic Range


9/16

Targeting Latent NeedsMens

Collection (Premium Segment)


10/16

Strategic Targeting Perfection

between Aamir and Titan

Celebrity Endorsements Observational Learning'sPositive Motivation Induced to own multiple

watches Sophistication- Taste - Status Symbol

Brand PersonalityCultural Appeal

Ap

pealingvisualize

rs


11/16

Strategic TargetingWomens

Collection Premium Segment

Target- Modern Women

Behaviors -

Celebrities Endorsements

Quick Visual Grasp

Building Positive

Perception

Motivation for Unique

Possessions

Positive Inducement

Signature Style

Emergence of distinct consumers.

Distinct buying factors Sub-branding strategy


12/16

Strategic Targeting Low Price Segment

Wait Mat Kar

Collection

Yuva Collection

Youth Fashion@ affordableprice

Solid SteelCollection

Target: Impatient Youth

Positioning: For those who are impatient for

progress.

Symbolism: Dynamism and optimism of the

Indian youth.

Target: Needs and aspirations of 15-28 yrs

generation

Positioning: Naya Josh, Naya Style.

Symbolism: Energy and confidence of youth

Target: Age group of 20-30 years across all

town classes.

Positioning: Change the dynamics of the

economy price segment

Symbolism: redefine the style quotient


13/16


14/16

Strategic Targeting Urban Youth

Fashion

Sharply defined consumer segmentsaround distinct buying factors

More awareness of brands and global

trends among urban consumers

Target: aimed at young urban

Indians looking for watches

that are fashionable and

stylish.

Generating youth appeal.

Positioning: Fastrack wants to be. Cool.


15/16

Brand Loyalty Recall Measures

Build relationships through rewards, regulardiscounts and special offers.

Titan Signet, a 1,36,000-member club

Gift Cards from Titan are designed to

offer your loved ones the joy of

choosing their own gift.

Large network of showrooms andservice centers offering superior

customer service


16/16

Ajaz Siddiqui

Sunil Jaiswal

Sushant Bhosale

Ashish Shukla

Kalpesh Modi

Mehul Kanakia

how titan watches changed consumers perception about wrist watches

Documents