TITAN INDUSTRIES

MARKETING STRATEGIES
GROUP MEMBERS

SANJAY KUMAR (7792)

PRESENTED TO: MR. SAMIR S AAMIR

Titan-Marketing strategies
Titan emerged as the top brand in the consumer durable segment.HMT, the undisputed leader of the wristwatch market before Titan's entry completely neglected the quartz watch segment. Titan successfully filled this gap. Its wide range of designs, high profile advertising and distribution network helped it gain a substantial market share in a short span of time. The Titan brand was essentially positioned as a premium brand.

Titan-Marketing strategies
One of the most important components of a successful marketing strategy is innovation. Innovation can be in terms of any of the marketing mix. This quality is clearly reflected in the brand strategy of Titan. The collection is differentiated by the unique sense of style and is following the psychographic segmentation. Titan has continuously experimented itself and this has helped the brand to be a super brand.

TITAN PERSPECTIVE
Brand extensions may be a quick way of appealing to a loyal customer. Titan tries hard to retain all its customers. For example Titan has launched a new brand of watches called Titan Purple, aimed at fashion-conscious consumers. They are described as contemporary and feminine. Priced between Rs 2,500 and Rs 7,000.

INTERNATIONAL MARKETING STRATEGIES

EXPORTING ALLOVER THE WORLD

Most traditional & common approach of entering foreign market which is referred as the marketing of goods produced in one country in to another. There are two types of Approaches: Direct Approach In Direct Approach

EXPORTING ALLOVER THE WORLD

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. The company also exports about 10 % of it watches primarily to the Middle East, Far East and Europe. In several key countries of the Middle East market, Titan is ranked among the top three brands.

EXPORTING ALLOVER THE WORLD

Titans markets include both national and international customers and today Titan has more than 75 million customers.

Titan Industries has claimed to have manufactured the worlds slimmest wrist watch Titan Edge. Produced indigenously after four years of research and development, the Titan Edge has a total slimness of just 3.5 mm and a wafer thin movement of 1.15 mm.

EXPORTING ALLOVER THE WORLD

Titan is producing 8.0 million watches per annum and holds over 60% share in the organized Indian Quartz Analog Wrist - Watch business segment. The company also exports 10% of its watches primarily to the Middle East, Far East and Europe. The company also exports about 10 % of it watches to the Asia pacific and Europe. In several key countries of the Middle East market.

EXPORTS
Apart from the Titan Edge, Titan also offers Steel, Regalia, Raga, Fastrack, Technology, Nebula, Bandhan, Sonata, Octane, special RHosur, Tamil Nadu. Fastrack is a popular brand among youth in India. Fastrack watches come in a variety of styles, shapes and colours in all over the world Titan Industries Limited (Titan) posted a top-line growth of 22% in FY 09/10 http://www.stockmarketsreview.com/reports/indian_stock_mar ket_and_companies_daily_report_20100503_5877/

ADDITIONAL INFO.
On 4 March, 2010,Titan Industries Announced the launch of its very first Titan flagship store is located at Opposite Shoppers Stop, Bandra Linking Road, Mumbai, India. Store is spread over a spacious 2500 sq ft and houses more than 1500 watches on display from Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and many more.

FRANCHISING
An agreement that binds a franchiser (A parent company) to provide a standard package of products, systems and management services to a franchisee (A firm that operates in a foreign country). Its a popular way of entering in to international markets.

FRANCHISING
The Titan Industries franchise takes pride in the fact that most Indians find it as their favorite place to purchase watches from it. The jewellery business has got 164 showrooms, which are built all over India. All members of the watch franchise will be made part of the network of the market leader. The jewellery business never fails in ensuring its sustained growth. Each of the Titan showrooms has a turnover of less than Rs. 30 million per year.

All the different showrooms of the jewellery franchise enjoy a consistent growth of fifteen to twenty five per cent each year.

FRANCHISING
The Titan Industries franchise has got an extremely committed retail team, which is specially trained in setting up and effective maintenance of showrooms throughout the country. This dedicated team of professionals constantly tries to enhance their potential by working under the Titan team. The watch franchise believes firmly that its success solely lies in the success of its members. The Economic Times reported that Titan Industries Limited said that it would add 20 franchise stores pan-India by the end of this fiscal, in addition to the 35 already added so far.

STRATEGIC ALLAINCE
Internationally renowned designer watch brand Tommy Hilfiger may soon be sold in India by Titan Industries. The Bangalore-based Titan is set to enter into a strategic licensing arrangement to market Tommy Hilfiger watches in the country.

For Titan, this will be the second alliance with a foreign company, the first being a joint venture with Timex Corporation of the US. Titan parted ways with Timex a few years ago.

STRATEGIC ALLAINCE
Titans people are in talk with the company and plan to enter into a licensing arrangement for selling Tommy Hilfiger watches in the country. We feel that our product portfolio misses high-end fashion brands. Tommy Hilfiger fits in there. The deal will be finalized by next month. The arrangement is likely to be for five years. The company also is in talk with leading global luxury watch brands for maintenance and service pacts. Titan has around 600 service centers in India.

STRATEGIC ALLAINCE
The luxury watch market is estimated to be about 10 per cent of the total market for watches in India. The market for branded watches in the country is estimated at about 25 million. The Swatch group with brands like Rado, Longines, CK, Tissot and Omega claims to have about 80 per cent share in the high-end market.

Generic Strategy
Titan Differentiation
Introducing variety of watches Focus on latent needs Finding new segments by using (R&D)

Generic Strategy
Timex Cost leadership
Introducing low price watches Same standards as Titan but low R&D High financial support

Generic Strategy
HMT watches Focus strategy
Serving niche market Specialized in Mechanical watches Captured rural areas

MARKETING MIX

The entire evaluation of the strategies are being carried out on the basis of the 4 Ps of marketing mix Product Price Place Promotion

Marketing mix priorities and synchronization for Titan

Maximizing profit through brand inventory Approach towards marketing mix is methodical Unorganized quartz market much larger than organized quartz market Carefully arrange marketing mix

Product and Price Strategy

Successful identified the changing trends in the lifestyles of the Indian consumers and launched the relevant brands over the period of time. Through exclusive product quality and finishing titan used the gold and stainless steel. Strong brands for each segment of the market which suits their needs and traits.

For various Age groups For various types of access / occasions For all level of community people

Distribution Strategy
Titan successfully identified consumer psyche about the outlets of watch as Watch Stores, titan by the exclusive outlets for selling the brands of titan called The world of Titan, change the perception of consumer. Delivery was done by day to day basis MIS used to intensify the distribution system since 1999. Titan watches are sold through over 9000 outlets in over 2300 cities and internationally in over 30 countries including the UK, Spain, Greece and countries in the middle East and Asia Pacific

Applied three level strategies

Product visible Affordable Available at bookstores, boutiques, gift hopes.

Promotion Strategy
Celebrity endorsement
Aamir Khan Titan rising and others
Rani Mukherjee Titan Raga

Making the product visible (Shifted commodity product to fashionable & impulsive choice), Affordable at unconventional locations Highly emphasized on brand building activity. Changed the buying behavior of consumer for a watch from consumer durable mentality to impulsive buying by campaigns. Employed pull strategy for promotion rather than push it to customer as in the case of HMT.

International Strategy of Titan

Europe
Entered in Europe under its own brand name rather than collaborating with any local player and introduces four models in UK in 1993.
Contracted with French fashion designer to design the watch architecture. Sold 3.5 m watches in UK since its entry in entire Europe. Integrated marketing strategy employed to build the brand image.

Middle East
Started export to Bahrain in 1991 just on demand basis Extended it to other middle east countries Employed the traditional distribution system Conducted detailed research on consumer behavior Used promotional schemes to make agree the retailers to sell Titan and Indian brands Advertising carried out considering local taste, and culture.