Tomorrow
Brajesh Singh
103257, SID: RB09028
XLRI, Jamshedpur, PGCBM-15
TIL was incorporated a joint venture between Tata Group
of companies and TIDCO.
Titan is a part of the TATA group having a turnover of >
USD 22 bn, equivalent to over 2.5% of India’s GDP and
having the biggest market capitalization.
Titan is credited with transforming face of Indian watch
industry.
Diversified business approaches; forayed into Jewelry, Eye
wear and fashion watches.
Emerged as market leader within 4 years of its inception &
almost eliminated HMT’s market share.
Offering products for customers with different age, status
and preferences.
Titan & Tanishq both bagged 6 different category
awards in NID-Business World Awards 2004.
The Watch Division won the coveted JRD QV
(Malcolm Baldrige) Award in 2006.
India’s most admired consumer durables company
having the most trusted brand -TITAN.
Both Watches and Jewellery adjudged most
admired brands for the last 4 years. Also adjudged
Retail Company of the year.
Retail Asia and Media Award-Singapore, for
Retailing and preferred brands.
Ideator Awards for Titan designers.
Best Corporate Citizen – Mother Teresa, Helen
Keller, Rotary and Chamber of Commerce Awards.
President of India Award for best employer of the
physically challenged.
From very beginning Titan has invested significantly in advertisement.
In 1989, it was Aqura, the trendy range for the youth, colourful, smart and affordable
plastic watches for the youth: The other side of Titan for the other side of you.
In 1992, it was Raga, the ethnic range, with striking symbolism from ethnic India, for the
features (200-m mater resistance, high precision chronographs) for those with the
penchant for adventure.
In 1996, it was Dash, the cute and colourful range for kids.
In 1997, it was Sonata, the affordable, good quality range for the budget-conscious.
In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart.
In 1999, it was Nebula, the sold gold and diamond-studded range of luxury watches for
executive.
And in 2008, the brand has collections like the Octane, Diva, WWF and Zoop - each of
Making reach till lower middle class & gaining premium customers.
To increase its CMS (Customer Market Share) and RMS (Revenue Market
Share).
To formulate strategies for taking edge over other existing established
brands and ensure profitability to its Middle East, Asia pacific and European
business units.
To gain strong foothold in precision engineering & OEM segments
Timex: joint venture with didn’t last longer due to different
management approaches. Tata, as known is a slow & steady
player wherein Timex was seen an aggressive partner. It was
later realized by Tata management that Timex is actually
eating Titan’s own share. Which can be termed as un-
intentional cannibalization of successful brands.
Maxima: initially Maxima could not do well as people were
not very used to for quartz watches and Japanese watches
were considered above than any other brand. The branding
was also done as Water-resistant watch.
Regalia: The other variants of citizen, swatch were available
and when the series was launched, trends were for big size
dials were IN fashion.
Classique: The series failed due to its pricing factors. A watch
was costing approximately 4K which was too high for middle
class customers during 1998-99.
Xylys: Xylys name has not been very friendly to watch lovers as
there are international brands such as Tag-heuver, Omega, Hugo
Boss, D&G, Cartier etc who have also made entry into indian
markets. Mall culture has provided great space & better
shopping opportunity for all such brands which have been
obstacles for Xylys to be stabilized.
Zoop: This series is a recent (re)launched series of Titan which
targets teenagers, school goers and funky style youths. This is
modified & corrected version of old Dash series. However
availability of variants from Swatch, Timex, are giving very
strong competition.
Product related:
◦ Core, Technical & Emotional:
The core of Titan products should be latest technology,
superior quality and state-of-art designs which will gradually
reach at higher level of acceptance.
◦ Pricing factors:
The differentiation line between Sonata, Titan- Nebula,
Heritage, Classique, Regalia, Raga, Octane, Theme series
(WWF etc) & Orion has to be defined very clearly which will
help customers & market forces to give needful impetus of
desired brand / product line.
◦ Attributes:
Innovative features, attractive designs and Quality in
services are some factors which need more attention to
build strong perception about Titan products.
Brand related:
◦ Leveraging brand ‘TATA’ in brand architecture: Tata is highly
reputed name in India and since last few years it is also being
accepted widely across the globe. A product from Tata gets
customer’s trust faster than others. Titan should use this to
leverage this for all its product lines. Mother brand Titan should go
along with entire product line.