Titan Watches Marketing Plan

Presented By: Harmeet Natt Kapil Jaitley Sachin Shandil Vikas Hooda

Introduction
Titan was set up in July 1984, by Xerxes Desai. A joint venture between the Tata group and the Tamil Nadu Industrial Development Corporation Titan Watches is Indias largest watch & jewellery manufacturer. Titan is the worlds sixth largest, integrated manufacturer-brand for watches. Over 60% share in the domestic market Main Watch & Jewellery plants in Hosur near Bangalore. Watch assembly plants at Dehradun, Baddi, and Roorkee. ECB plant in Goa; Jewellery Plant at Dehradun Investment of US$150 million in a 450,000 sq.ft. state-of-the-art facility

Vision Statement
To be a world class , innovative and progressive organization and to build Indias most desirable brands.

Mission Statement
To create wealth for all the stakeholders by building highly successful businesses based on a customer centric approach, and to contribute to the community

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 1992 over 150 models were introduced.

Awards
The Watch Division won the coveted JRD QV (Malcolm Baldrige) Award in 2006. Indias most admired consumer durables company having the most trusted brand -TITAN. President of India Award for best employer of the physically challenged

Corporate Information
In 2002 Mr.Jeyakodi was appointed as a director of the company. In 2003 Mr.Jacob Kurien tenders his resignation to the company. In 2006 Mr. Harish Bhatt was being appointed as chief operating officer in watches and accessories division. In 2007 Mr.Sunil Palliwal was inducted as additional director in the board of the company.

Competitive Factors

Target
DEMOGRAPHIC Age: 6-11, 12-19, 20-34, 35-49, 50-64, 65+ Gender: Male, Female Occupation: Professionals, Retired, Students, Homemakers, Sportsmen Social Class: Working Class, Middle Class, Upper Middle Class, Lower Upper, Upper Uppers PSYCHOGRAPHIC Lifestyle: Culture- Oriented, Sports- Oriented, OutdoorOriented Personality: Gregarious, Ambitious

Diversification
Watches
Jewellery

International Business

Precision Engineering

Currently Marketing our Products in 26 countries with a larger footprint in the Middle East and Asia-Pacific regions

Prescription Eyewear

Brands
TITAN SONATA FASTRACK

XYLYS
TANISHQ

GOLD PLUS
TITAN EYE+

Marketing Watches
Titans marketing strategy had five main bases: a product of international quality, Indian designs, competitive prices, intensive advertising and promotion, and specialized retail shops to control the presentation.

Segmentation
Titan has segmented the market on the basis of the following variables: Demographic (age and social class), Psycho graphic (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.

Product
Product type
convenience shopping specialty

Segmentation of TITAN Watch

Based on price Market segmentation based on user category

Product Life Cycle

Introduction : WWF, Orion, Zoop, Diva, Octane Growth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc

Maturity: Sonata, Fastrack, Dash

Decline: Aqura

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.

NEBULA A collection of intricately carved designs for women inspired by paisley and floral patterns Perfect to complement a traditional or contemporary outfit AVIATOR Inspired by the World War II fighter planes. Targeting the up market global Indian.

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

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

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 jewellary 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 1. Survival (i.e. Titan Exacta) 2. Market share (i.e. Titan Sonata) 3. Market skimming (i.e. Titan Nebula) 4. Product quality Pricing method 1. Mark-up pricing 2. Product line pricing 3. Promotional pricing Application of pricing strategy 1. Lower segment 2. 1000 plus segment

Promotion
1. Advertising 2. Sales promotion 3. Public relation Advertising media: Television Print Internet They have contacts with orkut and face book for their promotion. Titan brand ambassador: Titan Brand: Aamir Khan Sonata: Mahendra Singh Dhoni Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose

Public relation Gift concept

Promotion On Occasions

Sales promotion Sponsorship Seasonality Promotion through Contests

Titan tagline: Be more Fast track tagline: How many you have?

Place
World of Titan Showrooms Time Zone Traditional Outlets Non Traditional Outlets

Questionnaire

Suggestions