Repositioning Strategies of Titan.... (Final Project)

Vishweshwar Education Societys
Indira Institute of Business

Management
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EXECUTIVE SUMMARY
Many brands and companies are constantly reinvigorating their businesses and
positioning them for growth. There is a constant need to innovate, reinvigorate,
update, recalibrate, or just simply fend off the competition in an effort to
better explain "why buy me."
Brand positioning creates a specific place in the market for the brand and
product offerings. It reaches a certain type of consumers and delivers benefits that
meet the needs of several key target groups and users.
The actual approach of a company or brand's positioning in the marketplace depends
on how it communicates the benefits and product attributes to consumers and users.
As a result, the brand positioning of a company and/or product seeks to further
distance itself from competitors based on a host of items, but most notably on five
key issues: Price, Quality, Product Attributes, Distribution, and Usage Occasions.
In recent times, consumerism has undergone a sea change. Consumers today are
well informed about the products, as compared to earlier times. Hence, the
marketplace has become customer centric. Recognizing the importance of the
customers in the business structure, companies have started effecting brand
repositioning exercises on a regular basis.
In the recent times, a major brand repositioning exercise has been planned by Titan
Industries Ltd. in order to provide more to its customers. The company has first gone
for change in logo and tagline. Then the communication strategy has been
revamped to convey its new position. The present study consists of reviewing
the positioning strategies of Titan watches. An analysis of repositioning
strategies of Titan also forms part of the study.
The main objective of the study is to broadly understand the overall wrist
watch industry in India. Secondarily to study the brand positioning and re-positioning
strategy of Titan wrist watches and to find out whether the loyal consumers of titan
watches are aware of the new positioning strategies of the company and how they
perceive them.
TABLE OF C O N T E N T S
6
Chapter No.
1
1.1
1.2
1.3
1.4
1.5
Title
Introduction
Page No.
Approx No. of Pages. 05-07
Relevance of the Project

Introduction of the Topic
Objectives of the Study
Statement of Hypothesis
Scope of the Study
1.6
1.7
Rational of the Study

Limitations of the Study
2.
Profile of the Organisation
2.1
2.2
2.3
History & General Information

Company Profile
Competitors Analysis
3.
Review of Literature
3.1
3.2
3.3
Meaning and Concept of the Topic

Basic theories of the Topic
Review of Research on the selected Topic
4.
Research Methodology
4.1
4.2 A
4.2 B
4.3
4.3.1
4.3.2
4.3.3
4.4.1
4.4.2
Method of Study
Primary data
Secondary data
Sample design
Population
Sample size
Sampling method
Method of data collection
Instrument for data collection
5
6
7
8
9
10.
Data Processing and Analysis
Findings
Hypothesis Testing
Recommendations
Conclusions
Bibliography
Appendices /Annexure

STUDY OF INDIAN WRIST

WATCH INDUSTRY AND
REPOSITIONING STRATEGY
OF TITAN WATCHES
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PREFACE
Today, a wristwatch is considered as much of a status symbol as a device to

tell time. In an age when cell phones and digital pagers display tiny quartz clocks, the
mechanical wristwatch has slowly become less of an object of function and more a
piece of modern culture.
The Indian watch industry began in the year 1961 with the commissioning of the
watch division of HMT. The first watch model manufactured by HMT was the
Janata model in the year 1962. HMT was the leader in the watch market till
the Tatas formed Titan Watches in association with Tamil Nadu Industrial
Development Corporation in the year 1987. Titan was the first company to
launch quartz watches in India.
The Indian watch market is today of 40 million units, out of which 60% is in the
unorganized sector in which the maximum number of watches are sold are
below Rs.300. Quartz watches form two third of the organized sector and the rest is
split between mechanical and digital watches. Even in the organized sector, three
fourth of the sales by volume comes from watches that are priced below Rs.1000.
Watch is one of the consumer durables whose replacement rate is very high. The
replacement rate of watch is 33.8 %( Source: India market demographics report,
1998). This is also due to the fact that the estimated scrap rate of wrist watches is
7.8%, which is applicable after 6 years (Source: India market demographics report,
1998).
So, due to high scrap rate, outdated models, and the shift from the mechanical
watches to the quartz watches it is causing a very high replacement demand
for watches. This along with the low penetration level represents the untapped
market potential for watches in India.After liberalization of Indian economy in
1992 many international players have entered the Indian Watch market posing
as competitive threat to the Indian companies.
Lately Titan has tried to reposition its Brand to capture more segments of the watch
market retaining the already served market segment. The strategy has been studied in
deep during the project.
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Chapter 1- Introduction
1.1 Object of the Project
Final Project is an integral part of the MMS program. These projects helps us to
understand and gain a real insight into the Indian wrist watch industry and the
repositioning strategies of Titan Company Ltd.. This experience is very important as
students gain valuable knowledge and helps in improving skills .
The main objective of the project is to identify the strengths and weaknesses of Titan
Company Ltd as compared to its competitors.
1. It provides an opportunity to work on live projects.
2. It provides an opportunity to review and imply the theories and concepts
studied in the class.
1.2 Introduction of the Topic

Theory & Concept"A business has two - and only two - basic functions: marketing
and innovation."
-Peter
Drucker
The rapid pace of change and intense competitive pressure in today's
marketplace demand that brands continuously innovate and reinvent themselves to
maintain their relevance and market position. In this context, brand repositioning and
other revitalization strategies have become a business imperative for battling brand
erosion. The appeal of brand repositioning is further heightened by the rising costs
and high risk associated with launching a new brand.
Brand repositioning has received little attention in the marketing literature and has
mostly been treated as a variation of brand positioning. Biel, for example, has defined
brand positioning as "building (or rebuilding) an image for a brand". The goal of
positioning and repositioning strategies relates to the management of consumers'
perceptions. However, positioning focuses on the creation of brand associations
- consumers' perceptions of the attributes that differentiate the brand from competitive
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offers while repositioning also implies managing existing brand associations. The
unique challenge of a repositioning strategy, thus, lies in rejuvenating the brand
image to make it relevant in an evolving environment, while honoring the
brand equity heritage.
Repositioning can be required as the market changes and new opportunities occur.
Through repositioning the company can reach customers they never intended to reach
in the first place. If a brand has been established at the market for some time and wish
to change their image they can consider repositioning, although one of the hardest
actions in marketing is to reposition a familiar brand.
According to Solomon, position strategy is an essential part in the marketing efforts

because companies have to use the elements in the marketing mix to influence
the customers understanding of the position. During the movement from
something less attractive and relevant towards a more attractive and relevant position
several of strategic choices has to be made. The ones responsible for the
repositioning have to evaluate why a reposition is necessary, and if the offer is the one
that will change or just the brand name. There are several risk factors that have to be
taken into consideration when preparing for a repositioning of the offering or the
brand.
During repositioning, the risk of losing the credibility and reliability is high and the
need for a thorough strategy is therefore necessary to avoid this occurrence.
Some analyst argue that to successfully reposition a establish brand name is almost
impossible because repositioning of a brand can make the most loyal customer
to switch brand. But, in some circumstances a repositioning is necessary to
gain credibility if the brand is eroded. Whenever a reposition is in question it has to be
of relevance from a customer perspective, is this achievable? Some brands will on no
account be thought on as a luxury brand and therefore an attempt to reposition will
only damage the brand image or the actual company.
Numerous failed attempts at brand repositioning testify to the difficulty of
developing and implementing such a tactic. For example, while the soft drink brand,
Mountain Dew has remained relevant to the youth market through continuous
repositioning in its thirty years of existence, Levis' Jeans has been losing
market share to newcomers such as The Gap, despite numerous campaigns
designed to reposition the brand as trendy.
The strategic importance of brand repositioning in preserving and enhancing brand
equity, coupled with the mixed results of repositioning attempts, underscores the need
to develop a better understanding of the dynamics of brand repositioning. Specifically,
questions of whether, when and how brands should be repositioned need to be
addressed.
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1.3 Objective of the project

Research objectives:
1. To study the current scenario of Indian wrist watch industry.
2. To review the brand positioning strategies of different sub-brands of
Titan watches.
3. To analyze the brand repositioning strategies of Titan watches.
4. To study consumer awareness and perception about the brand
repositioning strategies of Titan Watches.
This study would help titan industry to understand the gaps in its
communication strategy regarding brand repositioning exercises and the further
measures to be taken for effective marketing communications.
1.4 Scope of the Study

The scope of the study is limited to customer satisfaction, products of others in
comparison to Titan Watches and customer expectations from Titan and the impact of
repositioning strategies adopted by Titan to strengthen their hold on the market. Since
it is one of the leading players in the Indian Watch Industry, the future researchers can
focus their studies on different angles of Titan and its products such as marketing
share and market segmentation.
1.5 Rationale/contribution of the study

Titan India Ltd believes in satisfactory delivery of service , quality to the customers,
but due to unknown reasons that the customer satisfaction analysed by the company is
not up to the mark . The company intends to find out the causes and remedies for the
low customer satisfaction.
1.6 Limitation of Study

The study is confined to limited audience only
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There is possibility of sampling errors in the study

The responses of the consumers may not be genuine
The questions included in the questionnaire may not be comprehensive.
Chapter 2-Profile Of The Organisation

2.1 History and general information
The Indian watch industry began in the year 1961 with the commissioning of the
watch division of HMT. The first watch model manufactured by HMT was the
Janata model in the year 1962. HMT was the leader in the watch market till
the Tatas formed Titan Watches in association with Tamil Nadu Industrial
Development Corporation in the year 1987. They took a major strategy
decision, which later changed the face of the Indian watch market- to manufacture
only quartz watches. Liberalization in 1992 and the removal of quantitative
restrictions due to WTO has opened the doors for many foreign brands in the Indian
market viz. Tissot, Swatch, Omega, Rado, TAG Heuer, Rolex and many others. The
import duties on watches are falling which makes the Indian market look attractive
for the global majors like Casio, Swatch, and Citizen.
2.1.1 Brief About Indian Watch Industry
Indian Watch industry:
Supplier Power:
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HMT has its own fully integrated operation for production of its watches. Titan has
its own production facilities for which it has invested roughly 120 crore rupees over
the years, the manufacturing capacity of which is 6 million units. Also there has been
a rise of low cost producers in China & Taiwan which has provided an opportunity for
watch makers to outsource watches at low cost, just as Titan has done to outsource the
components for Dash. Due to the large supply of watch movements available, there is
little supplier power in the watch market.
Buyer Power:
The Indian watch buyers are very price sensitive, especially in the lower end of the
market. There is still a huge untapped market in India with market penetration of only
20 units per thousand people while the world average is more than 100. At the same
time there are a segment of people who are willing to pay a premium for watches with
good performance and with a recognized brand name. So understanding the buyers
preferences is very crucial in this industry in order to gain a substantial market share.
Entry Barriers:
The Indian watch market in the recent years has shown a dramatic increase in the
number of brands available in the market due to removal of quantitative restrictions.
So the new entrant has to have an offering, which can be positioned and differentiated
from the other players in the market. This could be either price or functional or
emotional appeal. So the prime barrier for entry, in the current context, for a new
entrant is to build a brand image and price competitively.
Threat of Substitutes:
There are no such substitutes to watch as a product. However, in terms of the
companies offering various variations for watches such as pendant watches and
jewellery watches, some sort of substitution has developed. Rich consumers prefer to
purchase watches more as a fashion accessory rather than simply for its typical use.
Degree of Rivalry:
There are many companies in the Indian watch market, however, the product ranges
offered by them are manifold. This makes the competition very stiff. Also at the
lower end of the market it is basically the Value for Money, which differentiates the
players. The strategic stakes for the producers are very high. Titan Ltd., the largest
company in terms of market share in the organized sector has faced losses in the
quarter ended June 2001 despite increase in the market share due to macroeconomic
situation. HMT faced a similar situation when Titan was introduced in the 1980s
leading to a sharp fall in its market share.
Present Situation of the Indian Watch Market
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The Indian watch market is today of 40 million units, out which 60% is in the
unorganized sector in which the maximum number of watches are sold are below
Rs.500. Quartz watches form two thirds of the organized sector and the rest is split
between mechanical and digital watches. Even in the organized sector, three fourth of
the sales by volume comes from watches that are priced below Rs.2500.
Plastic as such is not acceptable to average Indian consumers, especially those from
the small towns and rural areas who regard it as cheap and flimsy. They want
toughness- which translates into a good quality metal model at a reasonable price.
Watch is one of the consumer durables whose replacement rate is very high. The
replacement rate of watch is 33.8% . This is also due to the fact that the estimated
scrap rate of wrist watches is 7.8%, which is applicable after 6 years So due to high
scrap rate, outdated models, and the shift from the mechanical watches to the quartz
watches is causing a very high replacement demand for watches. This along with the
low penetration levels represent the untapped market potential for watches in India.
Major brands in the Indian watch market

The major players in the Indian watch market include HMT, Titan and Timex. The
other players include Westar, Shivaki, Maxima, SITCO. Foreign brands such as
Cartier, Piaget, Omega, Tiffanys and Corrum, Gucci, Longines, Casio, Citizen, Tag
Heuer and Espirit are also making an inroad into the Indian market.Titan has been
consolidating its market share over the past decade. Timex watches, which entered in
India with collaboration with Titan, now independently has also gained substantial
market share.
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2.1.2 TITAN INDIA:

Titan Industries was established in 1984 as a joint venture between the Tata Group
and the Tamil Nadu Industrial Development Corporation. The company brought about
a paradigm shift in the Indian watch market, offering quartz technology with
international styling, manufactured in a state-of-the-art factory at Hosur, Tamil Nadu.
Leveraging its understanding of different segments in the watch market, the company
launched a second independent watch brand-Sonata, as a value brand to those seeking
to buy functionally styled watches at affordable prices. In addition it focused on the
youth with its third brand Fastrack. It has also premium fashion watches by
acquiring a license for global brands such as Tommy Hilfiger and Hugo Boss, while.
It has also in its portfolio its first Swiss Made watch brand Xylys.
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 EyeGear sunglasses, as well as Prescription Eyewear. The Company leveraged its
manufacturing competencies and branched into Precision Engineering Products and
Machine Building from 2003.
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Today Titan Industries is India's leading manufacturer of watches and jewellery

employing 3,800 people. Titan and Tanishq are among the most admired brands in
their categories.
2.1.3 Products
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,
Dehradun, Roorkee and Baddi in Himachal Pradesh and an ECB plant in Goa. Its
main products are:
Watches : Currently manufactures four main watch brands viz. Titan for the
premium segment,
Fastrack
focused on the youth and trendy fashion space,
Sonata
for the mass market and
Xylys
for the premium market. The Titan brand architecture comprises several sub-brands,
each of which is a leader in its segment. Notable among them are:
Titan Edge
The world's slimmest watch which stands for the philosophy of

"less is more";
Titan Raga
the feminine and sensuous accessory for today's woman,
Nebula
- crafted in solid gold and precious stones and several other collections like
Wall Street, Heritage , Regalia, Octane, Orion, Diva, Zoop, WWF and the Aviator
series, all of which form a part of the Titan wardrobe. Sonata is today India's largest
watch selling brand and is priced between Rs 295/- and Rs 1200/-. The company's
first Swiss Made watch Xylys is for the hi-end connoisseur and new age achiever. It
also markets Tommy Hilfiger watches under a licensing arrangement and is
introducing Hugo Boss.
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Today, the Titan portfolio has about 65% of the domestic market share in the
organized watch market. The company has 255 exclusive showrooms christened
'World of Titan' , making it amongst the largest chains in its category. Titan watches
are sold through over 12,000 outlets in over 2,500 cities and internationally in over 30
countries, primarily in the Middle-East and Asia Pacific. Its after-sales-service is itself
a benchmarked operation with a network of 750 service centres and amongst the
world's fastest turnaround times. The company has a world-class design studio for
watches and accessories.
Jewellery :
Tanishq is India's largest and fastest growing jewellery brand with a premium range
of gold jewellery studded with diamonds or coloured gems and a wide range in 22kt
pure gold. Platinum jewellery is also a part of the product range Tanishq is one of
India's largest speciality retailers and is transforming the jewellery market in India
102 boutiques in 72 cities across the country. Gold Plus' is the recent retail offering
for the mass market with plain gold jewellery selling through 19 stores in 19 towns.
The jewellery division has its own design stud.
Eye wear :
Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and has sunglasses
under Fastrack brand and prescription eyewear consisting of Frames, Lenses,
Sunglasses, Accessories and Contact Lenses of in-house brands and other premium
brands.
Precision Engineering
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
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.
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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.
Objectives for 2014-15
o Turnover to grow by about 30% over previous year, to target Rs 4000 crores
o Operating Profit to grow in similar fashion
o Significant retail network expansion
2.1.4 SWOT Analysis of Titan Company Ltd:

Strengths:
Mechanical watches: TITAN is the market leader in mechanical watches

which serves to the lower segment of the society.TITAN has a strong hold in
this segment but to make sure that players like titan and timex do not occupy
the stance TITAN needs to do its homework.
Brand equity: TITAN has a very strong brand image. People know TITAN
because of its quality and reliability.
Production and training facility: production facility is flexible enough to adapt

to new technologies. Training program is one of the best in the country.
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Industrial relations: company has very good industrial relations. Till today
company did not encounter any kind of labor or industrial relations problem
which can put company in to jeopardy.
Adequate assets: company has commensurate amount of land, building and

machinery available.
Weaknesses:
No emphasis on R&D and design . TITAN did not pay much attention to
aesthetics and design. While its competitor titan kept innovating its products
with latest technology, features and design, TITAN was still grappling with its
basic design models.
Retailer policy: TITAN did not have control measures over its retailers; hence
they lost control over prices and the trade.
Lack of team spirit and awareness: TITANs motivational strategiespunishment/reward have been inadequate, resulting in low utilization of
human and machine capacities.
Trade audits: No regular trade audit was being carried out by the company to
check what was actually happening in the market.
Management levels: The ground level TITAN staff has nearly six rungs of
bureaucracy to go through before a general manager in sales or marketing
could take a field decision.
Opportunities:
Diversification of products: there are good diversification possibilities in

products. Apart from mechanical watches TITAN can also focus on anadigi,
digiana, multifunction, digital, stopwatch, alarm, thin etc.
Exports: export market can be tapped.Market segmentation: company can

expand the market launching products suitable for different customer profiles
e.g.: youth, gift fashion, sports, novelty etc.
Enlarge network of sale outlets: An effective distribution system is

mandatory for companys success.
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Product improvement: Company can manufacture product based on current

customer preferences, combining technology and aesthetic appeal together to
enhance the experience.
Threats:
From competitors: titan, timex, citizen, swatch etc.
Spurious operators: People who indulge in fraudulent activities. Misusing the

brand name.
Authorized service agents: For foreign smuggled watches.
Regional players: With their cheap prices and availability.
Unorganized manufacturing
2.2 DistributionNetwork:
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.
Titans 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.
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The franchisee is a critical cog in Titans retail matrix. The company organizes
various programmes for franchisees, their managers and customer relationships
officers. These include training workshops and seminars on market trends, visual
merchandising, store operations and maintenance, and customer service initiative.
However, the real challenge in retailing is managing the franchisee network through
processes and systems that ensure a superior brand experience for every customer.
Franchisee relationship management is important because of increasing competition,
not only from the watch business but also from other business in the retail industry.
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. For its many customers Titan has Tata
Signet, a 1,36,000 member club that looks to build relationships through rewards,
regular discounts and special offers. Customers can also count on a service-centre
network thats 550-strong and spread over 30-odd cities and towns across the country.
The service centers have been deliberately kept apart from Titans showrooms. The
business is different and the customer is in two different moods at the two places
Titans blueprint for the future including making watches for international
heavyweights such as YSL, Christian Dior and Gucci. Titan believes there is huge
potential at the designer end of the market. The marketing investment is however
lower because the brand is doing the marketing for you. Also on the anvil are
specialty stores for niche customers, and an expansion into product categories like
sunglasses and leather goods.
However, it is staying ahead of the competition that is the overall priority: We have
to ensure Titan has the best wristwatch store in any given city or town. You dont
really have to watch this space for confirmation on that count.
Titan stores can be broadly classified into 4 stores each having its different features
making TITAN attractive to everyone.
WORLD OF TITAN
experience the touch of Titan, all you have to do is walk into the stylish World of
Titan showroom anywhere in India. Prepare to be floored by the cool international
ambience and the staggering choice of over a 1000 watches and trendy accessories.
And because the customer has to be given special treatment, we deliver your gifts,
offer gift vouchers for your loved ones, and whats more, we invite you to join the
Signet Club, our loyalty programme with lots of special privileges. Come closer to us
at The World of Titan!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
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the major revenue generators of the company and every 5 years the showroom is fully
done up updating it to modern international standards.
TIME ZONE
Titan Industries brings together the countrys 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.
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. These
concepts in the recent past have caught up with any product with it being total value
for money. However these shops would not be placed in the main locations so as to
interfere with the working of the normal shops. This is to make the customer go to the
shop rather than the shop calling the customer and hence the locations are not very
suitable for shopping.
SONATA STORE
If youre looking for Sonata watch, visit these exclusive Sonata outlets which also
have an Authorised Service Centre for Sonata & Titan brands. The idea of a Sonata
store came upto 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
2.3 Overall 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:
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
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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.
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)
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.
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 marketOmega, 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.
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
POSITIONING
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TITAN PERSPECTIVE
Titan initially pioneered the concept of "Gifting watches". The ads captured the
essence of gifting and along with the trendy music, easily caught the imagination of
the market. Customers who were fed up with ugly time machines welcomed the brand
and Titan had a dream run for many years. Titan then moved away from gifting. Titan
was positioning itself as a fashion accessory rather than a time keeping device.
Titan also found its persona in Mr. Aamir khan which provided the much needed
edge to the brand. Titan was careful in keeping the brand above the celebrity. The ads
were fresh and neatly executed. The idea was to make watches that would be seen as
style and fashion accessories rather than just utilitarian devices. The company
decided to use Aamir in brand and product communication on television and in the
print and outdoor media. Though, the vast distribution and service network of TIL had
served as an effective entry barrier in the 1990s, foreign brands were becoming
increasingly popular in the early 2000s, thanks to the paradigm shifts in the retail
scenario and the growing affluence of the Indian consumers.
And TIL found that it was not safe even at the bottom of the pyramid. The grey
market with cheap Chinese imports and the unorganized sector had cornered a sizable
chunk of the low-end market. The appointment of Aamir Khan as brand ambassador
for the Titan brand was seen as an attempt to broad base the appeal of the Titan
brand.
Titan also was pushing another strategy. Watches were perceived as a onetime buy
and consumers seldom owned multiple watches. So Titan pushed the concept of
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"Matching Watches to Clothes" in the recent commercials. Since men are becoming
more serious customers of fashion accessories, this is strategy that is worth trying out.
For Titan, even if the concept fails, It has created the much needed freshness in the
brand.
Earlier Fastrack was targeted at 20-25 year olds and positioned along the line "Cool
watches from Titan". Then the company found out that the youth in the age group of
11-20 years account for 42% of watch buying in India. Based on this insight, the
company relaunched the brand lowering the target segment to 18-30 year olds with
the baseline How many you have?". Again the strategy aimed at promoting the
multiple watch owning concepts. Fastrack also launched a range of fashion
accessories like Sunglasses trying to be a lifestyle brand
Positioning According to Product:

WATCHES
Raga
The slimmest watch in the universeAll good things are packaged small. Or we can
say they are packaged slim. Titan presents a large range of Titan Edge watches the
slimmest in the world. Clean cut, elegant designs that speak of who you are. Go
ahead , choose a style that says so much with so little. And you can see it is adding an
edge to your persona.
Orion
A unique range of watches inspired by the astral wonders of the universe. The
collection celebrates the intelligence and masculinity of todays men.
Octane
Be speed, Be moreA range of high octane sports watches personifying speed and
power with multi-functions, retrograde, analog-digital and chronograph.
Nebula
Inspired by the noble metal. Titan presents a classic collection of stunning jewelry
watches-NEBULA. Crafted superbly from 18 karat solid gold and inlaid with precious
stones, each piece comes with a lifetime guarantee.
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Zoop
Titan presents Zoop- timepieces for young stars. Take your pick from floral, butterfly,
duckling, and base ball themed watches or go digital with features such as dual time,
countdown timer, 50 yr calendar, compass, stopwatch, alarm, EL backlight and more.
WWF
Titan & WWE have joined hands to celebrate the beauty & behavior of six
endangered species with the launch of six new animal themed watches. A part of the
proceeds from every watch sale is contributed to WWE towards the preservation of
these animal.
Raga
Unveil the real you, Be more The magic of ornate motifs and blushing enamel casts
a spell on you. From intricate dials glowing with inner radiance, to delicate bracelets
that flow around you in familiar embrace. The essence of woman, Revealed at last.
FAST TRACK
Titan Fast track is positioned as an essential thing for the trendy youth of today. With
its special offerings it is really serving the urban youth. Its strongest offerings are
availability and affordability.
Titan Eye+ of Titan Industries offers sunglasses under its Fastrack brand. Prescription
eyewear such as lenses and contact lenses is also part of the range. Titan Eye+
offers frames, sunglasses, and accessories of Titan Industries in-house brands as
well as other premium brands.
Fast track was spun of as independent brand of watches targeting the urban youth In
2005. Since then it has carved a niche for itself with designs that were refreshingly
different and affordable. During that time, Fastrack also extended its footprint into eye
gear and in the last 4 years has quickly notched up the title of being the largest
sunglass brand in the country.
Fastrack has now chartered into newer categories bags, belts, wallets and wrist
bands as part of its vision to become a complete fashion brand for the youth. With
enough categories to fill up one cool store, Fastrack has moved on to open its
own stores for its young consumers. The store is positioned as a complete
accessories destination with all Fastrack gear under one roof.
Titan Fast Track provides an impressive range of stylish and contemporary
eyewear, through exclusive optical outlets. Currently, Titan Fast Track boasts 70
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stores across 41 cities. Titan Fast Track heralded standardisation by benchmarking

with the worlds best, in sync with the TATA principles of quality and trust. Sales
counters now offer products and services of international quality standards coupled
with transparency in pricing, style, and upbeat designs.
Tanishq
Colours of Royalty : Colored jewelry corrected the impression of tanishq
having only modern design
Aarka : Positioned thanishq as high fashion 22 karrat gold collection

Fashion earrings :
tanishq from being a
A collection of studded jewelry , an attempt to move

traditional studded collection.
Brand Positioning of Tanishq

o Promise of purity and a unique experience. Design and retail innovation
have been the hallmark of tanishq all these years.
o Promise of purity and unique experience.
Design and retail innovation have been the hallmark of tanishq all
these years
First and only jeweler to guarantees the purity of its gold jewelry and
certifies the quality of its diamonds and coloured gems in writing.
o Trust
It has established itself as a highly ethical player in a market that was

rated as having the highest incidents of under karatage (bis)
They even have gold meters where one can check the purity of the
gold.
o Luxury
Tanishq also has been positioned as a branded jewelry of luxury rather

than commodity. It moves jewelry beyond investments to the fashion
and adornment sector.
Superionr Product
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In order to compete with the regional players tanishq introduced the

concept of consistency in delivering promise
Tanishq is known for its ability to develop specialized design

collection. It is the only jewelers that houses a full fledged design
studio with a team of several international award winning Indian
designers.
Offer a totally new perspective to jewelry buying especially when it

comes to exquisite oriental jewelry.
Pricing Objectives:
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
name TITAN.
Titans 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.
PRICING METHOD 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. In the
recent past Titan has also used the
PERCEIVED VALUE PRICING to its advantage. It is managing to successfully
convince the customer of the perceived value of the WORLD WATCH using
billboards and hoardings all around the city, increasing buyers image, trust
worthiness, innovation, differentiation, value for the product. The hoardings go about
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to say the international presence of an Indian Watch. Titan has also in the past done so
for its steel collection but using Commercial Advertisements.
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.
APPLICATION OF THE PRICING STRATEGY IN PRODUCTS

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 Titans fastest selling watch. This watch was launched to make
titan everybodys company from the image of it being a Richmans 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. Titan in this case has followed the Penetration policy. Maxima
Quartz is a competitor with similar offerings at Rs.350. The lower end market being
price sensitive, such pricing used to drive away competition, making people buy the
product to make one trust what a Titan is all about was promptly why this low price
was offered. There are many in the stable such as the Exacta, Spectra and Fast Track
which is priced at what one would pay for a simple but impressive watch. These
watches deliver value for money with Titans name and the innovation done by the
company to deliver better models at the same price.
THE 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
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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.
`The WORLD WATCH TITANS latest offering to the Indian market is a watch
which is made in India but which shows off a truly international look with styling rare
to the Indian market. This is a product which none of the Indian watch makers can
offer as of today but meets with competition from foreign players like Swatch and
Esprit. The watches taken out are priced between Rs.2700 Rs.5500. This range of
pricing can be associated with Skim the cream pricing used by titan. These watches
represented true international quality for an Indian price.
The same watch by Calvin Klein would cost the Indian customer about 4 times a titan
watch and hence he would prefer the titan watch for the same value for lesser price.
There has been societal changes and a growing demand for these price watches with
the culture of the west coming in and the smart move to get these watches to India.
The Indian consumer is still a price sensitive player even though it be a high value
product.
The NEBULA is Titans price catch and is also watch selling in top of the line. These
solid gold watches gracefully and elegantly shows off richness of the gold and the
design makes it stand out from a regular gold watches. Preferred on occasions of
Diwali and marriages it is priced between 10000 to 40000. Titan is able to do so for
the reason it is a pure gold watch and the same time no one else in the market can
offer these watches. A pure gold watch for a festival or marriage would be 90% of the
times bought by titan.
Thus whatever may be the price titan carefully chooses it to see that its product is able
to survive, rise and become the product leader and at times after skimming the market
it attains price leadership with cutting prices slightly or waiting for competition to
come in and promote the market. One final statement that can be made is the
objectives and the price go hand in hand as it should always go.
Titan has tried to achieve a balance of cost focus and differentiation focus. By this we
mean that in the lower - end (Popular segment) of the market, it seeks to achieve a
cost advantage by exploiting the differences in cost behavior. In the mid-and higher
33
end (Mid Premium segment) of the market, it seeks differentiation by providing better
designs.
PROMOTIONS: 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.
Allowances are more on the company to the retailer where the retailer gets a special
allowance if the store picks up more than a certain quantity.
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.
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.
Captive Product Pricing There is a general buzz in the market about titan being
more expensive than the rest in terms of servicing and the parts used by TITAN. Titan
watches, the lower end ones are cheap but the straps and the battery with services is
generally expensive.
For the past few months, the one-point agenda of the Tata group has been to bring
about synergy among its individual companies, and to promote Tata as a single,
unified, central brand. The Tatas have realized that many of their companies are
addressing the same target clientele and share a common customer base. So it makes
sound business sense to synergies the marketing efforts for these companies.
The main reason behind Tata doing this was the results of a survey which revealed
that: the Tata brand is like sameone who is established, but not modern, large but not
focused, profitable but not in top gear, a warm person but not efficient, Tata group is
so large and fragmented that the central brand gets lost in the vastness of the empire.
As a result, the top-of-the-mind recall of the Tata brand-pegged at Rs.10,000 crore is
not so strong amongst its various products, be it Taj hotels, Titan watches or Westside
garments.
34
Tata has come to realize that their biggest asset is their name TATA and not their
factories and hence like the value of the assets the value of a brand can also come
down and so is the name coming down, now the Tata Brand Equity and Business
Promotion Agreement states that advertisements and commercials by any Tata
company must carry the TATA mark.
The Tatas may be a 102-year-old company, but they want to be seen as a young,
contemporary, new, entity,. Besides evolving a central brand for all companies, the
Tata group has also redefined its objectives and laid down three key themes that
would guide the philosophy of the new Tatas global, futuristic and modern. The
target audience? Generation next.The Tata Open The battle ground for this new
strategy of synergy started with the Tata Open (Indias biggest tennis tournament) held
every year in December January. The tatas have paid Rs.10 crore for the three-year
contract. For the Tatas themselves, it meant more than just sponsorship it signaled
the beginning of a new era in the Tata regime.
One of the main reasons for the sponsor of this event is Global event like these
provide a great opportunity to corporates to satisfy their marketing objectives and
cross-promote their brands,Creative AdvertisingTitan introduced a contest on
cartoonnetworkindia.com which invites children to use their creativity and
imagination to design a watch. The prize winning design was launched as a new
watch in the Summer 2002 collection and the winner received the first watch of this
collection. The Top 5 won a Dash! Watch each and all participants were awarded
certificates. Type Of Advertising Titan believes in making its ads clean, well made,
touch an emotional chord, convey the message, have catchy jungles and make an
impact. The use of celebrities, superstars is not there. These only ad to the expense
packet of the company and companies only catering to the niche market of the upper
cream like a Rolex or an Omega afford these. Majority of the people are rational
buyers and very rarely get carried away by celebrity endorsements. They also know
that they will eventually end up paying for such celebrity endorsement. Rich kids,
Young DINKS (Double income, no kids) and Yuppies may fall for such ads but not
ordinary people. At the end of the day, if your product or service is not good enough
or does not offer value for money, your advertising will get no where. 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
35
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 jewellery from Fastrack,
gives them just the reason to do so. The `promotion was in Mumbai, Delhi, Pune and
Bangalore from Feb 114.Musical Advertisements Subtle Advertisements
With changes coming up in the way one advertises Titan has changed too from the
trend of constantly bombarding the consumer with the name of advertisements to
subtle advertising. Through this titan is reinforcing just the name Titan and not any
one of its products. The tune used by titan is Wolfgang Amadeus Mozart's 24th
symphony as its signature tune. In the recent trend of advertising Titan uses only
music to get its message across, with the company name making only a brief
appearance.
Segmentation
Titan started its activity of marketing under the name TITAN as a brand not
promoting on basis of the models it had. Gradually when markets became more
demanding it felt that the brand needed to be segmented. This was in the years of 96
and onwards titan segmented because it felt the need that people know about different
brands and the target audience was easy to identify. This was because titan was just
entering the market and needed to meet specific people for their needs. For eg, it went
on with the regalia, sonata brand which met different needs of different sets of people
in the market. Thus titan got known among every one in the market cause they knew
what was in store for them from the titan's stable rather than just knowing that titan
manufactures watches.50 Million Concept Titan achieved the 50 million mark and
hence it had a great slogan to blow the trumpet loud. The 50 million concept signifies
the concept that 50 million happy faces who not only own but a sense of love, care
and prestige, associated with what the titan has given them and will be giving them.
This was aimed at all the categories with the smiling faces of the common man.
Seeing this one gets the message of 50 million watches, the landmark titan has
achieved, which means the name has metal in it and is something which can be trusted
at the same time the emotions portrayed in the ad make emotions run high in the
blood and one wants to be associated with the brand rather than buying some other
watch.
Strategic Implementations
Implementation is an integral part of strategy. Strategy is not just a set of ideas
removed from reality. It becomes visible only when you implement it. When Titan
entered Indian jewellery market it signaled an opportunity for an organized sector.
36
The customer was moving towards branded goods in other segments. The concept of
brands was not familiar with the Indian customer. Titan did the process of creating
brands in the minds of customer. A consumer goes to Tanishq because she believes the
brand stands for purity and good design. This insight, along with the increasing
mobility of Indian customers, is helping Tanishq mature into a national jeweller.
Focus
The strategy that Titan adopted in recent years is that of focus. It has segmented the
market into different need groups and tailored its strategy to the exclusion of others.
By optimizing its strategy for the target segments, it seeks to achieve a competitive
advantage in its target segments. Market segmentation is concerned with identifying
differences in the buyer behaviour, allowing a firm to match its capabilities with
distinctive products and related marketing programs. Market segmentation tends to
focus on the marketing activities in the value chain in which Titan commands a very
formidable position. This also allows Titan to find out how it should serve each
segment.
Strategic implementation
Companies must have robust processes to develop strategies irrespective of the
personality of the CEO. `THE WORLD OF TITAN our exclusive showrooms for
watches are our assets. As retail formats change the role of the showrooms may also
change. Initiatives need to be prioritized. Some of the showrooms have been done up
last year. However we must start today. Pragmatism has also set in perhaps because of
the downturn. The depth to Equity ratio in titan is high where Titan faces a financial
risk and hence their current initiatives involve any thing which do not require much
financing.
Banners-Hoardings
It is not difficult to see TITAN hoardings displaying its prominence in the streets of an
urban city. The prime locations, next to dealer outlets hoardings with attractive, clear,
simple but catchy slogans are put up and a particular product or some times the name
TITAN in general. One of the hoarding promotes the World Watch where the hoarding
states MADE IN INDIA CHERISHED IN GREECE. Like this many catchy
ones are there. Older ones state THE PERFECT VALENTINE GIFT was
released a month before valentines day.SponsorshipTitan is involved in sponsoring
major events, culturals 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.
Revamping the titan Brand Image Titan after all its marketing efforts in the market is
going back to step one where it started when its first marketing activity concentrated
on titan name rather than the different watches it offered. Then came the segmentation
of the brand where every different product was advertised individually that is every
product got its own identity. Titan felt that the segmentations was high and the brands
have got their own name rather than titan being associated with them, so titan has
gone back to revamp the brand image and market this product on the name titan. For
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this all its ads from September 2003 onwards would focus on titan as a name, this
includes the showrooms are being re modeled to suit the strategy. The focus now is on
titan rather than fast track and regalia the logo would promote TITAN. The policy is
in accordance with the advertisement released on television which simply and subtly
promotes TITAN.
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.
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.
Strategic FlexibilityKeeping your options open means building flexibility in the
strategy. For instance in 1998 99 Titan announced its intention to become a global
player, to address the multiple segments emerging in the Indian market through
multiple brands and sub brands, and to offer terrific value for money through
differentiated design, retailing and brand image. The company addressed multiple
segments through brands such as sonata, fast track, Raga etc. it realized that as the
market became more competitive multiple brands would be the best way to address
the needs of the market. When you have multiple brands you are more flexible and
less vulnerable. Titan has gone in for multiple brands.
Promotion Through ContestsTITAN 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.Promotion Through Television ProgramsTITAN 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.
38
A Cricket Connection
Titan is targeting Super Fiber sales to come in mainly from the semi-urban markets -and in keeping with its target group, the company has roped in Mahendra Singh
Dhoni, the young cricketing icon who hails from the small town of Ranchi in Eastern
India, as its brand ambassador.
Fragmented Categories Desai points out that a brand attempting to be among the
first branded presences in a fragmented category must first justify why the category
needs a brand in the first place. "There are good reasons why categories don't have
brands. It could be the artisan aspect of the category, like in the case of female ethnic
garments, or deep personal relationships like with jewelry, or it could be the sheer
price aspect like in commodities. You need to redefine the market and create a value
perception of a different kind that gives the consumers an overriding reason to shift to
a brand."
This is exactly what Titan did when it entered the jewelry market in 1994 with its
Tanishq brand. Tanishq not only brought a wide design expertise and a plush retail
environment to a segment which until then was limited to local family jewelers and
small set ups, but by being the first to introduce the karat meter to measure the exact
purity of gold, it brought the element of trust to the forefront. Before Titan, 'trust'
between the consumer and the jeweler was a factor of personal relationships. "The
reassurance of guarantee and purity in such a transparent manner was a great new
value addition that Tanishq brought to this category," says Desai.
Eyeing Other Territories:

Meanwhile, Titan is now looking to bring the power of the brand to yet another
unorganized category: Last year it entered into prescription eyewear with Titan Eye+.
The prescription eyewear market in India is estimated to be around 25 to 30 million
units per annum with revenues of US$300 million and growing at around 15% to 20%
per annum. As per industry statistics, only around 25% of the people who need
prescription eyewear are actually using them.
The lifestyle space, in fact, is where Titan is looking to make a larger play. Having
tasted success in watches and jewelry and forayed into eyewear, Titan now wants to
leverage its strengths in manufacturing, design expertise, retail knowhow and brand
building for other lifestyle products. It is actively researching new categories that it
can enter. Titan is also looking at expanding Fast Track, its youth brand comprising
watches and sunglasses, to other accessories like belts, bags and so on.Bhaskar Bhat
is, however, emphatic that Titan will not enter any category where the opportunity to
compete is only on price and product quality alone. Says Bhaskar: "We have always
chosen to enter segments where we saw that the consumer was being significantly
underserved. In watches, it was lack of choice; in jewelry, it was under-caratage; and
in eyewear, it was lack of information. In each of our businesses, we have focused on
offering sharp differentiators, and the greatest consumer opportunity to differentiate
comes in the unorganized sectors.
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Chapter 3:
Review of literature
The repositioning strategy is rolled out in three stages: introductory, elaboration
and fortification stages. This involves the introduction of a new or a
repositioned brand, seeking to underline the brands value over others, and to
broaden the brand proposition. It is truly tough to change the customers perceived
40
attitude towards a brand, and therefore the risk is great that the attempt to
repositioning might be unsuccessful.
After rolling out the strategy, it is time to modify the proposition through update of
the personality and through repositioning. There are benefits and risks with both of
this segments and it is of great significance that they are truly evaluated when
deciding the next step in the process. To further understand the stages stated above,
figure.1 will guide you through the different phases that follow after
establishing a brand proposition.
Figure 1: Stages in brand strategy development
The implication with the term repositioning is that a company modifies
something that is already present in the market and in the consumers mind.
The definition of repositioning changes different individuals and professions. To view
the different definitions and perceive a greater understanding about this concept, three
examples of repositioning given by individuals in different professions is stated
below
Repositioning is built upon the change of unique and differentiated associations with
the brand in some kind of direction, it is about having a balance between the category
party and differentiation when using reposition strategies (Leading brand strategist)
From these definitions, it is obvious that reposition is about moving something to a
newer and hopefully to a more attractive and relevant position. The purpose of the
movement differs with regards to what the company wants to achieve. A company
might want to reach out to a larger target group, or be involved in several different
positions at the market. There is also a visible relation between price and
41
quantity aspects. When a company perceives the market as a demand curve, the
purpose is to down stretch or up stretch in this curve. When moving down it is often
spoken of as an expansion down wards, and when moving up and there is a need for
reaching the premium segment and expand up wards
understand that consumers minds are limited. Peoples minds select what to
remember and it is therefore significant to convince the consumers with great
arguments. The market demand changes rapidly and therefore repositioning can be
necessary to meet these demands, newer and stronger arguments have to be
established to convince them to stay as loyal customers.
As stated in the literature, repositioning is a very complicated matter and
therefore there are no detailed theories or models. The aim with repositioning differ
from person to person, and the only connection between all the different theories is
that repositioning is moving something from somewhere towards a greater position at
the market.
Corstjens and Doyle (1989) identified three types of repositioning strategies:
(1) Zero repositioning, which is not a repositioning at all since the firm
maintains its initial strategy in the face of a changing environment;
(2) Gradual repositioning, where the firm performs incremental, continuous
adjustments to its positioning strategy to reflect the evolution of its
environment; and
(3) Radical repositioning that corresponds to a discontinuous shift towards a new
target market and/or a new competitive advantage.
After examining the repositioning of several brands from the Indian market, the
following 8 types of repositioning have been identified. These are:
42
o Increasing relevance to the consumer

o Increasing occasions for use
o 3.Making the brand serious
o Falling sales
o Bringing in new customers
o 6.Making the brand contemporary
o 7. Differentiate from other brands
o 8.Changed market conditions.
It is not always that these nine categories are mutually exclusive. Often one reason
leads to the other and a brand is repositioned sometimes for a multiplicity of reasons.
A four-phased brand repositioning approach can be followed to achieve the

intended benefits:
Phase I. Determining the Current Status of the Brand
Phase II. What Does the Brand Stand for Today?
Phase III. Developing the Brand Positioning Platforms
Phase IV. Refining the Brand Positioning and Management Presentation
The benefits that can be derived from brand repositioning exercises can be
summarized as:
Value over others
Updated personality
Relevant position
The risks associated with such strategies are:
Loss of focus
Neglecting original customers
Losing credibility for the brand
Confusing the brand
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Therefore, brand repositioning is more difficult than initially positioning a brand

because one must first help the customer unlearn the current brand
positioning (easier said than done). Three actions can aid in this process:
(1) carefully crafted communication,
(2) new products, packaging, etc. that emphasize the new positioning and
(3) associations with other brands (co-branding, co-marketing, ingredient
branding, strategic alliances, etc.) that reinforce the new brand
positioning.This exercise is so critical to an organizations success that the
organizations leadership team and its marketing/brand management
leaders should develop it, preferably with the help and facilitation of an
outside brand-positioning expert.
Chapter 4: Research Methodology

Repositioning Strategies are an essential component of corporate strategy. It is argued
that most firms do not conduct this type of analysis systematically enough. Instead,
many enterprises operate on what is called informal impressions, conjectures, and
44
intuition gained through the titbits of information about competitors every manager
continually receives. As a result, traditional environmental scanning places many
firms at risk of dangerous competitive blind spots due to a lack of robust competitor
analysis.
In order to expose the necessary information regarding the project an intensive
research was done. The methodology adopted to accumulate the necessary
information is mentioned below.
Largely, research can be done with two types of data:
4.1 Sources of Data Collection

The relevant data was collected from both primary sources and secondary sources.
The starting point of my information gathering has been the secondary sources
such as internet, books, and journals and so on.
First, I made a study of the brand positioning and repositioning strategies of Titan
watches through secondary sources such as internet, insurance magazines, and
journals and so on. Then I conducted a consumer awareness survey on brand
repositioning strategies undertaken by Titan watches in recent times.
4.2 Primary Data:Data was collected through an interview schedule, consisting of both open
ended and closed ended questions. The schedule covered parameters like
reasons for consumers brand preference; recollection of earlier tagline and
advertisement, brand ambassador of Titan; awareness of new tagline and campaign
featuring Aamir Khan, new designs and so on. The data was collected through
telephone contacts and one-to-one personal interviews.
4.3 Secondary Data:This data is mainly collected from different types of sources such as official
documents, magazines, journals, pictorials, books, reports, and so on. During my
project, I have mainly utilized the latter kind of data. Like secondary data for my
research. I have referred to the official website of the company and many more.
Moreover, I have applied both qualitative and quantitative sort off studies as research
methodology for this project.
45
4.4 Research Methodology:

Research methodology is considered as the nerve of the project. Without a proper
well-organized research plan, it is impossible to complete the project and reach to any
conclusion. The project was based on the survey plan. The main objective of survey
was to collect appropriate data, which work as a base for drawing conclusion and
getting result.
Therefore, research methodology is the way to systematically solve the research
problem. Research methodology not only talks of the methods but also logic behind
the methods used in the context of a research study and it explains why a particular
method has been used in the preference of the other methods
4.5 Research design:

Research design is important primarily because of the increased complexity in the
market as well as marketing approaches available to the researchers. In fact, it is the
key to the evolution of successful marketing strategies and programmers. It is an
important tool to study buyers behavior, consumption pattern, brand loyalty, and
focus market changes. A research design specifies the methods and procedures for
conducting a particular study. According to Kerlinger, Research Design is a plan,
conceptual structure, and strategy of investigation conceived as to obtain answers to
research questions and to control variance.
4.6 Types of research are:

Descriptive Research
The type of research adopted for study is descriptive. Descriptive studies are
undertaken in many circumstances when the researches is interested to know
the characteristic of certain group such as age, sex, education level, occupation
or income. A descriptive study may be necessary in cases when a researcher is
interested in knowing the proportion of people in a given population who have
in particular manner, making projections of a certain thing, or determining the
relationship between two or more variables. The objective of such study is to
answer the who, what, when, where and how of the subject under
investigation. There is a general feeling that descriptive studies are factual and
46
very simple. This is not necessarily true. Descriptive study can be complex,
demanding a high degree of scientific skill on part of the researcher.
Descriptive studies are well structured. An exploratory study needs to be
flexible in its approach, but a descriptive study in contrast tends to be rigid and
its approach cannot be changed every now and then. It is therefore necessary,
the researcher give sufficient thought to framing research.
Questions and deciding the types of data to be collected and the procedure to
be used in this purpose. Descriptive studies can be divided into two broad
categories: Cross Sectional and Longitudinal Sectional. A cross sectional study
is concerned with a sample of elements from a given population. Thus, it may
deal with household, dealers, retail stores, or other entities. Data on a number
of characteristics from sample elements are collected and analyzed. Cross
sectional studies are of two types: Field study and Survey. Although the
distinction between them is not clear- cut, there are some practical differences,
which need different techniques and skills. Field studies are ex-post-factor
scientific inquiries that aim at finding the relations and interrelations among
variables in a real setting. Such studies are done in live situations like
communities, schools, factories, and organizations.
Another type of cross sectional study is survey result, which has been taken by
me. A major strength of survey research is its wide scope. Detail information
can be obtained from a sample of large population .Besides; it is economical
as more information can be collected per unit of cost. In addition, it is obvious
that a sample survey needs less time than a census inquiry. Descriptive
research includes survey and fact finding enquiries of different kinds of the
major purpose. Descriptive research is description of the state of affairs, as it
exists at present. The main characteristic of this method is that the researcher
has no control over the variables; he can only report what has happened or
what is happening. The methods of research utilized in descriptive research
are survey methods of all kinds including comparative and co relational
methods. The reason for using such needs to be flexible in its approach, but a
descriptive study in contrast tends to be rigid and its approach cannot be
changed every now and then.
47
4.7 Sampling Procedure

A sample of 50 consumers who are brand loyal to Titan watches since more than a
year and in the age group of 20 30 years have been considered for this
study. As Titan has taken up brand repositioning strategies since July 2008,
consumers who have seen the previous and new campaign have been targeted
Chapter 5- Data Interpretation

5.1 Consumer Awareness Survey
Titan sub-brand owned
48
This was a multiple choice question where respondents were asked to choose subbrands of Titan which they possess. It was found that around 72% of the consumers
in the age group of 20-30 years possess Fastrack brand, 14% Sonata, 6% Raga, 4%
Nebula and only 2% own WWF and Edge.
Period of use
The respondents were asked to mention since how long they have been brand
loyal to Titan. This was an open ended question and hence various responses were
received. The minimum period of use was set as one year, as mentioned
earlier, while the maximum period of use was determined.
For convenience, the different responses are categorized into three: 1year 4years,
4years 7years and 7years 10years.
64% of the respondents fall into first category, i.e., they are using Titan watch in the
range of one to four years. 24% respondents are in second category and the rest 12 %
are using it for more than seven years.
49
Reasons for brand loyalty

The respondents were asked to select the reasons from the options given for their
preference for Titan watches. For this question, multi-responses were received from
the respondents.
Reasons
Attractive designs
Reasonable Price
Brand image
Good quality
No. of respondents ( out of total 50)

39
7
22
25
50
Recall of Titans tagline

Titans tagline, before brand repositioning exercise has been undertaken, was Whats
your style. This tagline was adopted during first rebranding exercise in 2004.
The respondents were asked to indicate whether they remember the tagline in
dichotomous way, i.e., as yes or no. It was found that only 22% of the
respondents were able to recall the tagline and the remaining 78% answered in
negative.
51
Titans advertisements
Titan advertises its watches in almost all media vehicles. The advertisements can be
seen in TV, magazines, newspaper, hoardings, billboards, radio and so on.
All the 50 respondents have seen the advertisements of Titan watches in
various media.
This was a multi-response question and the options given to select were restricted to
TV, magazines, newspapers, hoardings and radio. The findings of the survey have
been summarized in a table as follows:
Types of media
TV
Magazines
Newspapers
Hoardings
Radio
No. of respondents
46
25
36
15
4
52
Brand Ambassador of Titan

Aamir Khan is the brand ambassador of Titan since 2004. When the
respondents were asked to recollect the same, it was found that 46 of 50
sample size were able to correctly mention the brand ambassador while the remaining
4 did not give any response implying that they are not aware of it.
53
Awareness of new tagline Be More

The survey has revealed that less than half of the total numbers of respondents
(36%) are aware of new tagline.
54
New designs of Titan

Titan has launched several new designs in 2008 and 2009 in its existing collections
and as per its plans introduced new product collections also.
The respondents were asked to rate the new designs as poor, average,
above average, good and excellent.7 respondents feel that their designs are
excellent, 39 have rated them as good and 4 have rated as average.
New Campaign of Titan

The survey has revealed that the percentage of respondents who have seen the new
campaign focussing on be more featuring Aamir Khan is 50%.
55
Rating of New Campaign

The 50% of the respondents who have seen the new campaign were asked to rate it
with respect to how effective the campaign is in inspiring consumers to have a new
look everyday and be more in lives.
16 out of 25 respondents consider the new campaign to be highly effective while
the remaining 9 rated it as effective
Titans exclusive showrooms

The respondents were asked to rate Titans exclusive showrooms on 5 point rating
scale Poor, Average, Above Average, Good and Excellent. The factors related
to showrooms that were provided to the respondents for rating are store ambience,
sales personnel, after sales service and display of watches.
56
Consumer perception of store ambience
36 of the 50 respondents have rated store ambience as Good and 7 each rated as
Above Average and Excellent. This proves that store ambience plays an important
role in consumer perception of service quality.
Consumer perception of sales personnel
With respect to sales personnel, 35 respondents rated them as Good, while 4 each
rated as Poor and Average, 7 respondents gave rating of Above Average.
57
Consumer Perception about after sales service
In the survey, 31 out of 50 respondents rated after sales service as Good, 4 each as
Average, Above Average and Excellent while 7 respondents rated as Poor.
Consumer perception of Display of watches
Most of the respondents have given high ratings to the display of watches in Titan
showroom. 22 respondents rated it as Excellent, 24 respondents as Good and
only 4 respondents gave rating of Average.
58
Overall perception about Titan showrooms
The respondents were also asked to give overall rating to Titans exclusive
showrooms. It was found that out of total 50 respondents, 30 rated as good while
the remaining considered the showrooms to be excellent. Around 50% of the
respondents rated all the variables related to Titans exclusive showrooms as
good.
59
Chapter 6-Observation And Findings

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.
Titans 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.
The franchisee is a critical cog in Titans retail matrix. The company organizes
various programmes for franchisees, their managers and customer relationships
officers. These include training workshops and seminars on market trends, visual
merchandising, store operations and maintenance, and customer service initiative.
However, the real challenge in retailing is managing the franchisee network through
processes and systems that ensure a superior brand experience for every customer.
Franchisee relationship management is important because of increasing competition,
not only from the watch business but also from other business in the retail industry.
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. For its many customers Titan has Tata
Signet, a 1,36,000 member club that looks to build relationships through rewards,
regular discounts and special offers. Customers can also count on a service-centre
network thats 550-strong and spread over 30-odd cities and towns across the country.
The service centers have been deliberately kept apart from Titans showrooms. The
business is different and the customer is in two different moods at the two places
Titans blueprint for the future including making watches for international
heavyweights such as YSL, Christian Dior and Gucci. Titan believes there is huge
potential at the designer end of the market. The marketing investment is however
lower because the brand is doing the marketing for you. Also on the anvil are
60
specialty stores for niche customers, and an expansion into product categories like
sunglasses and leather goods.
However, it is staying ahead of the competition that is the overall priority: We have
to ensure Titan has the best wristwatch store in any given city or town. You dont
really have to watch this space for confirmation on that count.
Titan stores can be broadly classified into 4 stores each having its different features
making TITAN attractive to everyone.
WORLD OF TITAN
experience the touch of Titan, all you have to do is walk into the stylish World of
Titan showroom anywhere in India. Prepare to be floored by the cool international
ambience and the staggering choice of over a 1000 watches and trendy accessories.
And because the customer has to be given special treatment, we deliver your gifts,
offer gift vouchers for your loved ones, and whats more, we invite you to join the
Signet Club, our loyalty programme with lots of special privileges. Come closer to us
at The World of Titan!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.
TIME ZONE
Titan Industries brings together the countrys 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.
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. These
concepts in the recent past have caught up with any product with it being total value
for money. However these shops would not be placed in the main locations so as to
interfere with the working of the normal shops. This is to make the customer go to the
shop rather than the shop calling the customer and hence the locations are not very
suitable for shopping.
SONATA STORE
If youre looking for Sonata watch, visit these exclusive Sonata outlets which also
have an Authorised Service Centre for Sonata & Titan brands. The idea of a Sonata
61
store came upto 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
Suggestions given by the respondents to improve brand image

Varied responses were received for this question. All the responses have been
summarized as follows:
o Introduce more trendy and innovative designs
o Focus on niche markets such as working men and women
o Spread awareness about availability of watches in lower segments as most of
the consumers feel that Titan brand is synonymous with premium watches.
o Take steps to change consumer perception that Titan watches are high
priced.
o Improve after sales service.
Findings of the survey

The findings of the consumer awareness survey are listed below:
o 72% of the respondents in the age group of 20 30 years possess Fastrack
watch. This shows that the positioning strategy of these watches has
been good.
o Most of the consumers prefer Titan watches for their attractive designs
and good quality. However, there is a misconception about pricing of
Titan products among the consumers. They perceive them to be high priced.
o Logos and taglines are rarely noticed by the watch consumers. Hence,
any change in them also goes unnoticed.
o Advertisement in mass media such as television, newspapers, and magazines
are best means to spread awareness about brand.
o Celebrity endorsement of watches not only increases the visibility of the
product but also gives an assurance to the consumers that it is of high quality.
o Titan watches designs are rated as good by 78% of the respondents. This
indicates that they are looking forward for more innovative designs to
be introduced by the company.
o Only 50% of the respondents have seen the new campaign launched by Titan
watches in 2013 and 2014. This implies that the reach of the campaign
in six months has been to more or less half of the consumers. However, those
who have seen the new campaign consider it to be effective in
conveying the message it intended to deliver, i.e., to be more in lives.
o The after sales service and behavior of sales personnel have been given low
ratings compared to other variables mentioned in the questionnaire with
respect to Titans exclusive showroom
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Promotion and Brand Building Strategies :

o Titan valued advertising as an investment to merchandise new models.
o Build a good-sized gift market and emotional market.
o Roped Amir Khan as brand ambassador.
o Tagline Be More reflecting the youths multitasking lifestyle of the day.
o Sonata was launched as waqt se do kadam age
o Sonata was sold highest and Dhoni been signed as brand ambassador.
o Fastrack made use of social media like orkut, facebook, etc.
o Launched several sales promotion programmes around festivals.
o TIL received the Reader's Digest Trusted Brand Platinum Award for the
watch category.
PROBLEM IDENTIFICATION
o Overlapping of sub brands
o Competitors entering mid price market range (RS 1500-3500)
o Stiff competition in premium segment market by international players.
o Premium segment market are the only revenue generating market.
o Failure of launch in European market.
o How to create global brand identity like TOMMY,ESPIRIT etc
63
Chapter 7-Recommendation
o Mid price market price range (up to RS3500) and sec C & D brands can go
with umbrella branding strategy.
o Brands like Fastrack can diversify further in other accessories like MP3
players, digital cameras.
o Repositioning Xylis and Nebula with powerful emotional attribute.
o Creating a joint ventures with the high end international brands.a) when an
international brand entering Indian marketb) when Titan is entering foreign
market
o Entering new international geography by acquiring Me too players and
positioning as durable product.
o Endorsing the product through international events like FIFA, World Cup,
Olympics, etc.
o Establishing a chain of after sale services in international market.
64
Chapter 8-Conclusion
The suggestions to improve consumer awareness about brand repositioning strategy of
Titan are as follows:
o To increase its visibility, Titan Company can sponsor events similar to fashion
shows in which all latest designs launched are displayed. This would
have multiplier effect as the latest designs launched by the company get
noticed by different segments of the customers in varied ways.
o Tie up with FM radio channels for reminder advertisements and
informing customers about various sales promotion offers from time-to-time.
o Invest more in R&D as customer expectations are changing rapidly. Though
Titan has got more product collections, it should focus on introducing
more varieties in already existing product collections. In other words,
having a limited but more depth in product collections would be more
advantageous.
o Introduce exclusive collection for working women which is more
contemporary and complements both traditional and western wear.
o Majority of the population in India live in rural areas. So, showrooms should
be set up at places nearer to them. Introduce cheaper and rough use watches
for this segment.
o After sales service has to be improved. That is, the process of servicing and
repairing of watches should be made faster. This can be done by ensuring the
spare parts availability and training all sales personnel in Titan showrooms to
undertake these tasks.
o Tie up with international watch brands and make them available locally.
o Make use of internet to spread awareness among consumers about the
brand.
65
1.Which sub-brand of Titan watches do you possess?

A. Fastrack
B. Sonata
C. Raga
D. Nebula
E. Edge
F. Others, please specify.
2.Since how many months / years have you been using Titan watch?
---------------------------3.Why do you prefer Titan brand?
A) Attractive designs,
B )Reasonable price
C )Brand image
D) Good quality
4.Do you remember the original tagline of Titan watches?
If yes, please mention.
5. Have you seen the advertisement of Titan watches?
a) Yes
b) No
6.In which media have you seen the advertisement?
a) TV
b) Newspaper
c) Magazines
d) Hoardings
e) Radio
7.Who is the brand ambassador of Titan watches?
____________
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8. Are you aware of the new tagline of Titan?

a) Yes
b) No
9.How do you rate the new designs of Titan?
a) Poor
b) Average
c) Above Average
d) Good
e) Excellent
10.Have you seen the new campaign of Titan?
a) Yes
b) No
11.Do you think the new advertisement is effective in inspiring consumers to have a
new look everyday and be more in lives?
a) Not at all effective
b) Effective
c) Highly effective
12.How do you rate Titans exclusive showrooms with respect to the following:(1
Poor, 2-Average, 3-Above Average, 4-Good, 5-Excellent)
a)Ambienceb)Sales personnelc)After sales serviced)Display of watchese)Overall showroom13. What suggestions would you like to give to improve Titans brand image among
customers?
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Chapter 9-Bibliography
References
o Sengupta Subroto (2006), Brand Positioning: Strategies for Competitive

Advantage. Second Edition, Tata McGraw Hill Publishing Company Limited,
New Delhi.
o Gopalakrishnan PS (ed.) (2007),Rebranding: An Introduction. ICFAI
University Press, Hyderabad.
o ICFAI Journal of Marketing Management
o ICFAI Journal of Brand Management
o www.marketingprofs.com
o www.brandingstrategyinsider.com
o www.thehindubusinessline.com
o www.economictimes.com
o http://www.flickr.com/photos/20714224@N02/
o http://www.fastrack.in/offer/fastrack-offer.aspx
o www.googlesearch.co.in
o www.titanindustries.com
o www.financialexpress.com
o www.tatagroup.com
o www.economictimes.com
o www.naukrihub.com
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Repositioning Strategies of Titan.... (Final Project)

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CERTIFICATE FROM THE

Business Management has successfully completed the

fulfilment of requirement for the completion MMS as

Relevance of the Project

Rational of the Study

Profile of the Organisation

History & General Information

Meaning and Concept of the Topic

Approx No. of Pages. 15-20

Approx No. of Pages. 5-10

Approx No. of Pages. 05-07

Data Processing and Analysis

Approx No. of Pages. 20-25

Approx No. of Pages. 02-03

STUDY OF INDIAN WRIST

Today, a wristwatch is considered as much of a status symbol as a device to

1.2 Introduction of the Topic

According to Solomon, position strategy is an essential part in the marketing efforts

1.3 Objective of the project

1.4 Scope of the Study

1.5 Rationale/contribution of the study

1.6 Limitation of Study

There is possibility of sampling errors in the study

Chapter 2-Profile Of The Organisation

2.1.1 Brief About Indian Watch Industry

Indian Watch industry:

Major brands in the Indian watch market

2.1.2 TITAN INDIA:

Today Titan Industries is India's leading manufacturer of watches and jewellery

The world's slimmest watch which stands for the philosophy of

Both Titan and Tanishq have been adjudged "Most Admired

2.1.4 SWOT Analysis of Titan Company Ltd:

Mechanical watches: TITAN is the market leader in mechanical watches

Production and training facility: production facility is flexible enough to adapt

Adequate assets: company has commensurate amount of land, building and

Diversification of products: there are good diversification possibilities in

Exports: export market can be tapped.Market segmentation: company can

Enlarge network of sale outlets: An effective distribution system is

Product improvement: Company can manufacture product based on current

From competitors: titan, timex, citizen, swatch etc.

Spurious operators: People who indulge in fraudulent activities. Misusing the

Authorized service agents: For foreign smuggled watches.

Regional players: With their cheap prices and availability.

2.3 Overall strategies

Quality or Price Positioning:

Positioning According to Product:

stores across 41 cities. Titan Fast Track heralded standardisation by benchmarking

Aarka : Positioned thanishq as high fashion 22 karrat gold collection

A collection of studded jewelry , an attempt to move

Brand Positioning of Tanishq

It has established itself as a highly ethical player in a market that was

Tanishq also has been positioned as a branded jewelry of luxury rather

In order to compete with the regional players tanishq introduced the

Tanishq is known for its ability to develop specialized design

Offer a totally new perspective to jewelry buying especially when it

APPLICATION OF THE PRICING STRATEGY IN PRODUCTS

THE 1000 PLUS SEGMENT

PROMOTIONS: Price Discounts and Allowances

Warranties and Service Contracts

Product Line Pricing

Promotion Through ContestsTITAN ties up with various magazines, televisions,

Eyeing Other Territories: