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Introduction
Started its Operations in 1984
Marketing Mix
Product / Service Demand
Controllable Factors : Range of Product/Service Pricing Levels Distribution Structure Promotion Strategies People Physical Evidence Process Management
Marketing Mix at TITAN Range of Products : Titan offers product for many segment : 1) TITAN for Premium category 2) Sonata for Lower Segment
PEST effect
Politics : Government had started allowing foreign brands to enter Indian market - Liberalization Economic : Protected economy - Restriction on watch imports Social : Changed in Lifestyle - Preference for more Brands - Foreign Brand - Grey Market and Unorganized Players
PEST effect
Technology : - Better Technology - Quartz watches replacing Mechanic watches
Titan for Premium Category : High Price Range ( above INR 6000 )
Sonata : Positioned as a Titan watch at low price INR 350 to 1400
Titan Distributed through three channels : 1) The Dealers 2) Company Owned Exclusive Stores 3) Distributors : Passed on to Retailers & then to the Customers Company had 102 Exclusive Stores, 5400 Dealers Outlets
Titan in to retailing : The world of Titan Discount Store Value Mart Alliances with Departmental Stores
Mozart jingles and Tune of Titan are very popular, Helps in recall & Brand Identity
In 2001, broke the marketing operations in two parts - Upper Brand Titan - Lower Brand Sonata They were to be sold in different showrooms
SWOT Analysis
Strength : Trust of TATA Strong Distribution Network Presence in many Segments After Sales Service Affordable & Durable Product Weakness : Uncontrollable Grey Market & Unorganized players Less reach in Rural Area
Opportunities : Online Purchasing To reduce the Watch Penetration which is 10 out of 200 Acquisition of Local Players Product Line Extension Global Opportunity
Competitive Rivalry within the Industry : High - Large number of players Domestic and International - Switching Cost is Low
Bargaining Power of Suppliers : Low - Many organizations like Titan has in-house Operation - Low cost producers, Who Outsource Watches (China) Bargaining Power of Customers : High - Many options in the market - Price Sensitive Customer and Low Switching Cost
Findings
Grey Market and Unorganized Sector still the main Challenge Rural Areas market a big part of India still untapped
Recommendations
Threat of New