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A Study/Project on Customer Perception towards Titan Products by Titan Industries PDF

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It's a project report I had made for my BBM degree recently. I'm a Marketing Student so I made a project on "Customer Perception towards Titan Products by Titan Industries".
I'm uploading because I din't find any projects to help me out while I was making my project, so I hope it will help you guys out!

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A Study/Project on Customer Perception towards Titan Products by Titan Industries PDF

  1. 1. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 1 INTRODUCTION Marketing:- Marketing is as old as human civilization. Many people see marketing only as advertising or selling. In reality, true marketing doesn’t involve the art of selling what you make but knowing what to make. Modern organizations gain market leadership by understanding consumer needs and finding solutions that delight customers. If customer value and satisfaction are absent, no amount of advertising or selling can compensate. The aim of marketing is to build and manage profitable customer relationship and that is the need of the hour. Marketers around the globe must study the consumer needs and wants, select target market they can serve best, and design product, services and programmers’ to serve this market. They attract new customers by promising superior value, they keep and grow current customers by delivering superior satisfaction. Marketing has gone beyond business function, it is considered and adjudged has a distinct philosophy, in that it guides the entire organization towards sensing, serving and satisfying consumer needs. Marketing encompasses not only manufacturing companies, wholesalers and retailers but also covers all kinds of individuals, organizations, lawyers, accountants and doctors. They use marketing to manage the demand for their services. Even politicians in our country use marketing strategy to get rates. The organizations in this competitive era need to know how to define and segment markets, develop attractive value propositions and build strong equity. They must also know how to price their products or services to make them attractive and affordable. In addition they should know how to choose and mange intermediaries to make their products available to customers Technological advancements, rapid globalization, and paradigm shift in economic system that is moving away from socialism to capitalism, cross-cultural relationship and other environmental developments are causing profound changes in the market place. The
  2. 2. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 2 marketers cannot be mute speculators in the face of rapidly changing marketing environment. These new development and horizons signify a brand new world of opportunities for pro- active and forward thinking marketers. Today marketers must build and manage profitable customer relationships from the view point of customer orientation. They should also build and manage strong brands; harness new marketing technologies in this digital age owing to explosion of the internet resultant business, business to consumer, consumer to consumer and business to consumer are having dramatic on both buyers and marketers who serve them. Today marketers must know how to leverage new compute, information, communication and transportation technologies to connect more efficiently and effectively with the customers and marketing partners in this new digital age. As technological development makes the world an increasingly smaller place, marketers must know and market their brands globally and in socially responsible ways. The best practices in marketing of products or services will ensure the global success.
  3. 3. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 3 Market:- The term market is used to mean “an aggregate of potential demand for a commodity or service”. “Market is a set of actual and potential buyers of a product.” -PHILIP KOTLER Philip Kotler also defines market as “an area of atmosphere for a potential exchange”. Market is one which makes possible the exchange of goods or services for a consideration. Relevance of Marketing:-  Marketing is consumer oriented process: A business exists to satisfy human needs. Therefore, it is essential that the organization must first find out the customer needs. Only such goods should be produced which best satisfy consumer needs. In the words of Levitt, instead of trying to market what is easiest for us to make, we must find out much more about what the consumer is willing to buy.  Market starts and ends with the customers [c2c]: Marketing starts even before production starts under consumer oriented marketing, it is essential to understand what customers really want, understanding of customers wants is possible only when the information is collected from the customer regarding their taste, fashions, buying habit, etc. therefore, establishment of proper information system is essential for the success of marketing function. Marketing research helps the organization to understand customer wants; reliable information helps the organization to produce right type of goods that are needed by the customer.  Marketing is the guiding element of business: In the past marketing was considered as a function concerned with getting goods and services into the hands of the customer. Today marketing is much more than this, modern marketing is a function directed towards economic development of the country and in raising the standard of living of the people. Modern marketing involves the integration of various activities
  4. 4. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 4 involved in marketing process. The responsibility of modern marketing is to research customers at a maximum speed with minimum cost.  Marketing is a system: Marketing has been viewed as an ongoing or dynamic process involving a set of interacting and interrelated activities to reach customers. It receives inputs from the environment in the form of valuable in formation. Using this valuable information, organization supply the desired products and services to satisfy the customers’ needs and thereby earn profit.  Marketing is a goal oriented process: Marketing seeks to achieve some useful goals like any other business activity. The very basic aim of marketing is to generate a considerable amount of profit through customer satisfaction. Increase in volume of sales, increase in profit and increase in growth are the three objectives of marketing. While attaining this objective, organizations should assume social responsibility to a great extent.  Marketing is a process of exchange: Marketing is essentially a process of exchange of goods and services or exchanges between the buyers and sellers. Goods and services are handed over to the buyers by the organization and the customers in turn give the money to the organization. One more important exchange observed in marketing is information, marketing information is exchanged between the buyers and the sellers. Information is power. Information is the foundation of which the organizations success depends.  Marketing is a process: marketing involves various functions to be performed in an order. Various activities should be properly related. This process should be flexible. Any changes in social and environmental factors influence the marketing process. Relevance of Marketing Consumer Oriented Process Starts and ends with Customers Guiding Element of Business It's a System It's a goal oriented process Process of Exchange
  5. 5. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 5 Approaches to the study of Marketing:- Five basic approaches are commonly used to describe the marketing system. Commodity approach, functional approach, institutional approach, managerial approach, and system approach. 1. Commodity approach: Under the commodity approach we study the flow of a certain commodity and its journey from the original producer right up to the final consumers. 2. Functional approach: We concentrate our attention on the specialized services or functions or activities performed by marketers. 3. Institutional approach: Under the institutional approach, main interest center round the marketing information or agencies such as wholesalers, retailers, transport undertakings, banks, insurance company, etc. 4. Managerial approach: Combines certain features of commodity, institutional and functional approach. 5. System approach: A system is set of interaction or interdependent groups coordinated to form a unified whole and organized to accomplish a set of objectives. In the model of system approaches we have objectives, input, processor, output, feedback. The objectives direct the process Approaches Commodity Functional ManagerialInstitutional System
  6. 6. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 6 Consumer Behavior:- Consumer behavior is defined as the behavior that consumers display in searching for purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs. Consumer behavior focuses on how individual make decisions to spend their available resources on consumption related items. That includes what they buy, why they buy it, when they buy it, where they buy it, how often they use it, how they use evaluate it after the purchase and the impact of such evaluations on future purchases and how they dispose of it. As individuals all differ in many ways in likes, dislikes, attitudes, cultural background, income level, etc. Despite such differences, there is a common factor among all of us. We buy, use or consume regularly food, shelter, clothing, transportation, education, equipment, necessities, luxuries, services and even ideas. As consumers, we all play an important role in the overall health of the economy. The buying decisions we make affect the demand for basic raw materials, for transportation, for production, for banking, etc. They also effect the employment of workers and the deployment of resources, the success of some industries and the failures of others. Buyer behavior model:- Consumer behavior is a very complex subject because the needs, wants and demands of human beings are innumerable. The buyers are also influenced by various internal and external factors. Consumer behavior studies, therefore depends on all major social sciences like economics, psychology, sociology and anthropology. The influence of this social science has prompted marketing experts to propound certain consumer behavior models for explaining model behavior. They are:- 1. The Economic model: The economics of consumer behavior views the buyer as a rational man and his buying decisions will only be concerned with utility. Deriving maximum utility from products using his resources will be the economic man’s sole objective. 2. The Learning model: The learning model takes its cue from the Pavalovian stimulus- response theory. According to this model, buyer behavior can be influenced by manipulating the drives, stimuli and response of the buyer. This model is based on
  7. 7. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 7 man’s ability to learn, forget and discriminate. 3. The Psycho-Analytical model: This model is founded on Freudian psychology. According to this model, the individual consumer has a complex set of deep seeded motives that drive him towards certain buying decisions. 4. The Sociological model: According to the sociological model, the individual model buyer is influenced by society. He is influenced by intimate groups and social classes. 5. The Howard-Sheth model: This is a model of buyer behavior totally different from the marketing view point. The buyer is analyzed here as a system with stimuli has the input into the system and behavior has the output of the system. In between the inputs and the outputs, there are variables affecting perception and learning. Buyer Behavior Model Economic Model Learning Model Psycho- Analytical Model Sociological Model Howard- Sheth Model
  8. 8. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 8 Factor influencing Consumer Behavior:- Consumer Behavior is influenced by cultural, social, personal and psychological characteristics. 1. Cultural characteristics:  Culture: Cultural factors like the buyer’s culture, sub culture and social class exert the broadest and seep set influence on consumer behavior. Culture is the most fundamental determinant of person’s wants and behavior. As a person grow up in society, he learns a basic set of values, perceptions, preferences and behavior through a process of socialization involving the family and other key institutions. Marketing people look for cultural shift to find out new products that may be demanded concerned about health and fitness.  Sub-Culture: The main culture includes smaller groups of sub-cultures within its fold that provide more specific identification and socialization for its member sub-culture like nationality, groups, religious groups, racial groups, communities and geographical various have distinct characteristic life styles.  Social classes: Social classes are homogenous social stratifications in society whose member share similar values, interest and behavior. Upper class, middle class, lower middleclass, and lower class are such social classes. Social class is determent by occupation, income, education, etc. consumers within a social class may have similar buyer behavior and product and brand performance. 2. Social characteristics: Social factors like consumers reference groups, family, social roles, status also influence buyer behavior.  Reference groups: Reference group influence buyer behavior very strongly. Membership groups can be primarily groups which have direct influence like family, friends, neighbor and coworkers. Secondary groups can be religious organizations and trade union. Marketers identify opinion leaders and make direct marketing efforts towards them. Members of groups watch their leader’s style and behavior and try to emulate them.  Family: Members of the buyer’s family can exercise a strong influence on the buyer’s behavior. The family consist of parents, spouse and children. Marketing people are interested in the roles and influence of the husband, wife
  9. 9. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 9 and children on buying decision. Decision makers, in case of some goods and services, will be husband oriented, wife dominant and equal.  Roles and status: A buyer may belong to many groups at the same time, like family, clubs, and associations. His position in each group will be specified by his role and status. Such roles and status will also influence some of his buying decisions. 3. Personal characteristics: : Buyer behavior is also influenced by the buyer’s personal characteristics, notably his or her age and life-cycle stage, occupation, economic circumstances, life style, personality and self-concept.  Age and Life-Cycle stage: The needs, wants and demands for goods and services change in the buyer’s life time. Buyers taste in food, clothes, furniture is related and likely to change. Family lifestyle consists of stages like young singles, newly married, married with children, elderly couple living alone or single parents consumptions is shaped by the stage in which the buyers present.  Occupation: Buyers consumption pattern is also influenced by his occupation. A factory worker may buy work clothes, work shoes, lunch box, while a company executive may buy expensive suits, watches, travel accessories, tickets for air travel, luxury cars, etc.  Economic Circumstances: Economic circumstances of the buyer will affect his protect choice. This consists of his spendable income, savings and assets, borrowing power and attitude towards spending and saving.  Lifestyle: Lifestyle is an individual way of living, which is reflected in his activities, interests and opinions. Consumers with the same cultural, sub cultural, occupational and social class background could have varying lifestyles. This is a factor that has to be thoroughly studied by marketing people.  Personality and self-concept: Personality is the persons distinguishing psychological characteristics that lead to relatively consistent enduring responds to his or her own environment. It is described in terms of such traits like self-confidence, dominance, autonomy, sociability, defensiveness and adaptability.
  10. 10. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 10 4. Psychological characteristics: Motivation, perception, learning, beliefs and attitudes also influence buyer behavior.  Motivation: Boyer’s needs are normally biogenic and psychogenic. When they are aroused to a sufficient level of intensity they become motives, urging the buyer to seek satisfaction. Abraham Maslow explained the driving force of people’s needs as consisting of a need hierarchy. This included physiological needs, safety needs, social needs, esteem needs and self-actualization needs.  Perception: Once motivated, how the motivated buyer acts is influenced by his or her perception of the situation. That is, how the buyer receives, selects, organized and interprets information. Buyers can emerge with different perception of the same stimulus object because of three perceptual processes – selective exposure, selective distortion and selective retention.  Learning: Buyers learn through their action. Learning involves changes in the buyer’s behavior as a result of his experiences. The buyers learning is produced through his interplay of drives, stimuli, responses and reinforcement.  Beliefs and attitudes: People beliefs and attitudes also influence the buyer behavior. Beliefs may be found on knowledge, opinion. Attitudes reveal the judgments, feeling and tendencies of the buyer towards an objects or an idea. Marketers should try to fit their product offerings into the buyers existing attitudes rather than trying to change attitudes, which is a difficult task.
  11. 11. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 11 Consumer Perception:- Introduction:- As we are being different individuals tend to see the world in our own special ways. Individual act and react on the basis of their thinking, nature and philosophy of life not on the basis of reality. For understanding consumer behavior, one must try to understand his perception.  Every individual perceives the world through his own perception. “Because individual make decision and take action based on what they perceive to be reality, it is important that marketers should understand the whole implication of perception and its related concepts. So that can more readily determine what factors influence consumers to buy.  The world as we see is different than what it is in reality. Once year as per ones perception, not what really set?  People working in an organization differ in their action due to difference of opinion.  It is a source of one’s knowledge about the world.  Every individual perceives the world through his senses like hearing, touch, smell, and sight, awareness of heat, cold, pain and pleasure. People working in an organization differ in terms of physical feature like age and sex, background characteristics like training and education and one’s personality traits like aggressiveness, submissions, optimistic. All these factors helps in the formation of one’s perception. Meaning of Perception: “Perception includes all those process by which an individual receives information about his environment – seeing, hearing, tasting, feeling and smelling”. -JOSEPH REITZ.
  12. 12. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 12 Nature of Perception:- In fact perception refers to the manner in which an individual experiences the world as every individual approaches the life differently. One hears, as per ones perception, not what really said. People buy what is best to them, not what is best. It is due to perception that a particular job may appear good to one and bad to another. An individual’s own needs, objectives, problems, interests and background controls his perception in each situation. Every individual has a perceptual world that he’s selective and partially concentrating on his interest and likings. o Understanding the difference between the perpetual world and real world is important to the study of consumer behavior as well as human relations. o People’s perception is determined by their needs as for instance mirrors at amusement park distort the world in relation to their tension. o In fact perception is more important for the manager who wants to avoid making errors. While dealing with people and events in the work policies. In order to deal subordinates effectively, a manager must understand their perceptions properly. o There is difference between perception and sensation. Sensation is the response of a physical sensory organ but perception is more than just a sensation. Factors affecting Perception:- 1) INTERNAL FACTOR: a. Need and desire: Prof. Maslow has given needs hierarchy what effects individual perception like basic need, safety and security needs, love and affection needs, ego and esteem needs and finally self-fulfillment needs. b. Personality: One’s personality has got deep impact on one’s perception like:-  Individuals who have strong and secure personality perceive others as warm and secure.  Individual weak in certain aspects tends to find faults in others.  Self-accepting individuals perceive themselves as liked, wanted and accepted by others.  Person having confidence and faith in their individuality perceive things favorably.
  13. 13. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 13 2) EXTERNAL FACTOR: a. Size: Size takes that larger the object, the more likely it will be perceived. Bigger machine, larger building and pictures get more attention than smaller ones. b. Intensity: Intensity, normally attracts to increase selective perception. Strong and high intensity likes leads to high perception while doing “neon signs advertisements”. c. Motion: The principle of motion states that people will pay more attention to moving objectives in the field of vision. d. Repetition: Generally repeated external stimulus attracts more attention than a single time. e. Status: It is seen that one’s perception is also influenced by the status of perceiver. f. Contrast: The contrast principle states that external stimuli which stand out against the background will attract more attention. 3) STIMULUS FACTOR: a. Similarity: The principle of similarity states that the greater the similarity of the stimuli, the greater tendency to perceive them as a common group. b. Proximity: Things being equal, things near to each other tend to be perceived as belonging together. c. Principal of Continuity: The principle of closure and continuity emphasis that an individual tends to fill gaps in complete pattern of stimuli in ways that make them meaningful. d. Principle of Context: In the perception the principle of context is of immense importance. Different words, symbols, gestures, pose, etc. have got different meaning in different context.
  14. 14. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 14 Perceptual Process:- Perceptual process is a complex concept through which people process information into decisions and attention. It is a way of impression about oneself, other people and daily life experience. It is process through which people receive, organize and interpret information from their surroundings and environment. The perceptual process has got mainly 4 stages. They are:- 1. Input stage 2. Processing stage 3. Output stage 4. Behavior stage 1) INPUT STAGE: There are many things in the environment through which perceiver are effected like information, objects, events and people and this is known as input. 2) PROCESSING STAGE: It involves: a) Confrontation b) Registration c) Interpretation d) Feedback e) Reaction In fact perception starts when an individual is confronted with a stimulus situation. Under second stage of registration there is involvement of physiological mechanism. To sensory physiological ability is to see and hear which effect one’s perception In third stage of perceptual interpretation deal which interference has drawn observed meaning from perceived events or objects? Then the fourth stage of feedback is important for interpreting the perceptual data. Psychological feedback like facial expressions, change in tone of voice and rose eyebrow is likely to effect and individual behavior at work. Finally perception ends in reaction which may be positive and negative. 3) OUTPUT STAGE: Due to perceptual input and processing mechanism there is perceptual output which an individual gets in the form of changes in one’s attitude, opinion, beliefs, feelings, etc.
  15. 15. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 15 4) BEHAVIOR STAGE: The perceiver behavior is shaped by the perceived outputs i.e. change in attitude, behavior, opinions, belief and approach. Characteristics of the Perceiver:-  One’s needs and motives: Perceiver’s needs and motives effect his perception. A need is a feeling of tension when one thinks he is missing something.  One’s beliefs: An individual’s beliefs have got a deep effect on one’s perception. A fact is conceived not on what it is but what a person believes it to be.  One’s past experience: One’s past experience good or bad, effects the one’s perception.  One’s expectations: It is the expectations which effect the perception of a person. In an organization technical, non-technical, financial and non-financial people have got different expectations and perception.  Current psychological state: An individual psychological and emotional and mental setup may influence how he perceives the things.  One’s Self-concept: In fact one’s self concept plays an important role in perceptual selectivity.  Situation: The situation in which an individual sees the objects deeply effects one’s perception. Dynamics of Perception:-  Sensation – Immediate and direct response of the sensory organs to the stimuli.  Stimulus – Any unit of input to any of the senses.  Sensory Receptors – Eyes, Ears, Nose, Tongue and Skin.  The Absolute Threshold:- o The lowest level at which an individual can experience a sensation. [Detecting difference between “Something” and “Nothing”.  Sensory Adaption:- o Getting used to Senses.
  16. 16. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 16  The Differential Threshold:- o Minimal difference detected between two similar stimuli. o Ernest Weber 19th Century.  Marketing Applications:- o Negative changes are not readily seen (price rise, reduce in quantity). o Positive changes are clearly seen. Elements of Perception:-  Perceptual Selection  Perceptual Organization  Perceptual Interpretation Perception Selection:- Consumer are by nature selective, they unconsciously exercise a great deal of selectivity as regards different stimuli present in the environment. There are a number of stimuli in the environment and the individual cannot perceive all of this. Factors affecting Perceptual Selection:- 1. Nature of Stimuli: There are numerous marketing related stimuli that effect consumer’s perception. Such as type of product, physical feature, packaging, color, brand name and advertisement. 2. Motives: In fact a motive perceives things. The stronger the need, the greater the tendency to receive related stimuli and ignore the unrelated stimuli in the environment. 3. Expectations: It is generally seen that people see what they expect to see and they expect to see what they used to see based on their past experience.
  17. 17. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 17 Selective Perception:-  Selective Exposure – People look for pleasant and sympathetic messages and avoid painful or threatening ones.  Selective Attention – People look into ads which will satisfy their need.  Perceptual Defense – People avoid Psychologically threatening ones. Hence constantly change the ad nature. [Smoking – warning with words, and now images]  Perceptual Blocking – People block stimuli which is bombarded. Perceptual Organization:-  People see everything as a whole.  Gestalt Psychology.  Figure and Ground  Grouping  Closure Figure and Ground:-
  18. 18. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 18 Grouping:- Closure:-
  19. 19. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 19 Perceptual Interpretation:-  Stimulus are often highly ambiguous or weak.  Stereotypes.  Physical Appearances.  Descriptive terms.  First Impression.  Halo Effect. Stereotypes:-  People carrying biased pictures in their minds of the meanings of various stimuli.  People hold meaning related to stimuli.  Stereotypes influence how stimuli are perceived. Problematic Ad of United Colors of Benetton:-
  20. 20. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 20 Physical Appearances:-  People associate quality with people in the ads.  Attractive models have positive influence.  Colors of Juices.  Shape of the Package. For example: Which one is orange juice? Descriptive Terms:-  Stereotypes are reflected in Verbal Messages. o Accenture – High Performance, Delivered. o KFC – Finger licking’ good! o Mc Donald’s – Happy Meal! (targeting Indians who are price conscious) First Impressions:-  First impressions are lasting.  The perceiver is trying to determine which stimuli are relevant, important or predictive.
  21. 21. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 21 Halo Effect:-  Consumers perceive and evaluate product or service or even product line based on just one dimension.  Important with spokesperson choice.  Tampering the Halo Effect is detrimental to the organization.  For Example:- o Toyota – Quality. o Ford – Safety. o Sony – Music. o Samsung – Android. The Halo Effect helps Adidas break into new Product Categories!!! Consumer Imagery:-  Consumers perceived images about the product, services, prices, product quality, retail stores and manufacturers.  People buy the product to enhance their self-image (relating themselves to the product).
  22. 22. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 22 Positioning:-  Image of the product in the minds of the customer is also called as POSITIONING.  Image of your product gear up your sales, but the product should also deliver its performance or quality.  Product Benefits should be focused more than its physical attributes. Umbrella Positioning:-  Nicolo Pome, UK marketing director for Nivea’s parent Company Beiersdorf, said “We wanted to find a more relevant role for the Nivea brand in our target markets’ minds”. The awareness of the Nivea brand is vast but we needed to find a way to engage with the audience to a greater degree.  An umbrella strategy is Marketing practice that involves selling many related products under a single brand name.  For Example: LION. Positioning Products and Services:- Model of Strategic positioning:
  23. 23. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 23 Typology of Strategic Positioning:-  Top of Range – Upper Class – Rolls Royce  Service – Impressive Service – Pizza Hut – 30 Mins  Value for Money – Affordability – Megamart  Reliability – Durability – Lakshmi Grinders – 7 years Warranty  Attractive – Cool – Elegant – Mercedes, Bournville  Country of Origin – Patriotism – Amul – The Taste of India  The Brand Name – Leaders in the Market – Apple, Sony  Selectivity – Discriminatory – Nano, Mac Book Air Perceptual Mapping:- Positioning of Services:-  It’s difficult to position a service because it’s intangible.  Only image differentiation helps to position better among their competitors.  Examples: - Flipkart.com – Reliable, Pizza Hut – Fast in Delivery.
  24. 24. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 24 Perceived Price:-  Perceived price should reflect the value that the customer receives from purchase.  Perceived price reflect on Purchase intentions and Purchase Satisfaction.  Reference Price:-  Internal – From Customers Memory  External – From Companies and Environment. Perceived Quality:-  Intrinsic Cues – People actually experience the product here. Physical Attributes of the product. E.g.: Shape, Size, and Color.  Extrinsic Cues – Absence of Actual Experience with a product.  Consumer often “evaluate” quality on the basis of factors quite external to the product itself, such as its price, the image of the store(s) that carries it, or the image (that is, the reputation) of the manufacturer that produces it. Price/Quality Relationship:-  Most consumers rely on price as an indicator of product quality.  Consumers use price as a surrogate indicator of quality when they have less information of the product. E.g.:- Purchase of apparels of a new brand.  When consumers are familiar with the product or have used it before price declines as a determining factor in evaluation. Perceived Risk:- The uncertainty that consumers face when they cannot foresee the consequences of their purchase decisions. Types of Risk:- 1. Functional 2. Physical 3. Financial 4. Social 5. Psychological 6. Time
  25. 25. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 25 Handling Risk:-  Consumers seek information.  Consumers are brand loyal.  Consumers select by brand image,  Consumers rely on store image.  Consumers buy most expensive model/  Consumer seeks reassurance.
  26. 26. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 26 RESEARCH DESIGN “Research Design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to search purpose with economic in procedure”. -CLAIRE SELITZ. Title of the Study:- “CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS BY TITAN INDUSTRIES”. Statement of the Problem:- This study is to analyze the customer perception towards Titan Products by Titan Industries. The study not only helped find the perception of the consumers but also helped to obtain suggestions for improvement of the products which will help the Company in maximizing their profits and expansion of their Company and even create brand awareness. Scope of the Study:- The study is conducted for consumers of Titan Products who are dispersed in different areas of Bangalore. Because of the variation in consumer’s needs preference and purchase actions, the scope of the study was wide and large but the number was limited. Objectives of the Study:-  To analyze consumer perception towards Titan Industries.  To identify the sources of awareness of Titan Industries.  To know the parameter influencing the purchase decision of Titan products.  To identify the marketing strength of Titan Industries.  To obtain suggestion for the improvement of the product and services of Titan Industries.
  27. 27. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 27 Purpose of the Study:-  The study helps the company to understand the consumer’s perception of Titan Industries.  The study also helps the management to obtain suggestion regarding product improvement and services.  The study helps to understand the consumer’s attitude towards Titan industries.  It also studies Titan Industry’s position in the market over its competitors. Research Methodology:- The main strength of the study depended on the study on the process of collecting, synthesizing and analyzing information, which had a bearing on the defined problem. The method employed in the investigation depends on the purpose and scope of enquiry. The research procedure covers the following:- 1. Primary Data: Primary data were generated in an investigation with the help of questionnaire. 2. Secondary Data: Secondary data collected from internet, articles, journals, websites and magazines. Sources of Data Collection:- The study dwelled upon the primary information collected from the responders i.e. consumers. Secondary information in relation to theoretical aspects and concepts derived from publication has been used to strengthen the Analysis. Sampling Design:-  Sample Size: The number of samples chosen was 100.  Sample Frame: It includes variety of products of Titan Industries.  Sample Techniques: Simple random sampling method was adopted. Plan of Analysis:  Data collected through questionnaire were tabulated and each question was dealt separately.  Graphs and Charts were made to make it easier to understand.
  28. 28. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 28 Operational Definitions:-  Marketing: Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals.  Market Research/Survey: It is a key to the evolution of successfully marketing strategies and programs and an important tool to study buyer behavior, changes in consumer life styles, brand loyalty, research objectives, research design, source of data, data collection, data analysis and final report and presentation.  Distribution: It is an element of the marketing mix involving all aspects of getting products to the consumers in the right location at the right time.  Positioning: It means planning the market position that wishes to occupy.  Brand: A brand is a name, sign, term, symbol or logo or a combination of them all intended to identify the goods or services of one seller or group of sellers to differentiate them from those of other similar products.  Brand Awareness: Brand Awareness is the consciousness by the public of a brand existence and qualities. In other words, brand awareness is the ability of a potential buyer to recognize or recall that a brand is a member of certain product category.  Pricing: Pricing is equivalent to the total product offering. This offering includes a brand name, package, product of benefit, services after sale, selling credit and so on.  Packaging: It may be defined as the general group of activities in the planning of a product. This activity concentrates on formulating a design of the package and producing an appropriate and attractive container or wrapper for a product.  Consumer: Consumer is a person who has utility for a particular product, which he or she pays for it.  Perception: The process by which individual organize and interpret their sensory impressions in order to give meaning to their environment.
  29. 29. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 29 Tools and Techniques:  Graphs  Questionnaires  Pie Chart  Bar Chart Limitation of the Study: 1. The sample size is limited to 100 due to time limit. 2. The results are based on the assumptions of the information provided by the respondent is correct. 3. Due to time constraints depth analysis was not possible. 4. The data for the project was conducted from the opinion of the customer in market.
  30. 30. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 30 COMPANY PROFILE Titan Company is the organization that brought about a paradigm shift in the Indian Watch Market when it introduced its Futuristic Quartz Technology, complemented by international styling. With India’s two most recognized and loved brands Titan and Tanishq to its credit, Titan Company is the fifth largest integrated own brand watch manufacturer in the world. The success story began in 1984 with a Joint Venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan Quartz watches that sported an International look, Titan Company transformed the Indian Watch Market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Company reached out to the Youth Segment with Fastrack, it’s this brand, trendy and chic. The Company has sold 150 million watches world over and manufactures over 15 million watches every year. With a license for premium fashion watches of global brands, Titan Company repeated its pioneering act and brought international brands into the Indian market. Tommy Hilfiger, FCUK, Timberland & Police as well as the Swiss made watch – Xylys owe their presence in the Indian market to Titan Company. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Company launched Tanishq, India's most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury segment. Titan Company has also made its foray into eyewear, offering a variety of differentiated products to the end consumer consisting of frames, lenses, contact lenses and accessories. Frames are available in both international brands (Levis, Esprit, Hugo Boss etc.) and in-house brands – Titan, Eye+ and Dash which is an offering for children. The company has leveraged its manufacturing competencies and branched into precision engineering components & sub- assemblies, machine building & automation solutions, tooling solutions and electronic sub-
  31. 31. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 31 assemblies. With over 984 retail stores across a carpet area of over 1.3 million sq. ft. Titan Company has India’s largest retail network spanning over 218 towns. The company has over 367 exclusive ‘World of Titan' showrooms and over 147 Fastrack stores. It also has a large network of over 748 after-sales-service centers. Titan Company is also the largest jewellery retailer in India with over 157 Tanishq boutiques and 2 Zoya stores, over 33 Gold Plus stores. It also sports over 248 Titan Eye+ stores. In addition the company retails personal accessories such as bags, belts, wallets and most recently perfumes under Skinn Brand. Backed by over 7,000 employees, two exclusive design studios for watches and jewellery, 10 manufacturing units, and innumerable admirers’ world over, Titan Company continues to grow and set new standards for innovation and quality. The organization is all geared to repeat the Titan and Tanishq success story with each new offering. Heritage:- Flashback Turning back the hands of time to pre-1980s, Tata Press conceived an idea to conquer the Watch Industry. Initial negated pioneering efforts aside, perseverance won the day. Titan Watches sprang into being with the signing of a joint venture of Tata Industries with the Tamil Nadu Industrial Development Corporation (TIDCO) in June of 1984. From that point on, it has been full steam ahead. First Milestone Titan commenced production end 1986 and hit the market in March 1987 with its brand ‘Titan’. The analogue electronic Quartz range met instant acclaim, appeasing a hungry watch- starved consumer market. This spurred encouragement and manufacture extended to bracelets, cases, electronic circuitry and step motors.
  32. 32. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 32 Along The Way Spanning 25-years of growth, the Titan Watch Project became Titan Watches, Titan Industries and ultimately Titan Company Limited. Production kept an impressive pace, topping the 15 million plus mark per year. Three years down the trail produced a dividend of 15% – today, 2012, sees a declaration of 175%! Numerous technologies and sources came into play during this period. Progress was swift, steady and stamped with characteristic Titan Company aplomb. This led to innumerable achievements and accolades. Audaciously challenging the Swiss, Titan now is the world's largest integrated own brand manufacturer of watches. A major brand player, Titan stakes claim to 60% of the organized watch market, with over 150 million pieces sold across 32 countries collectively. In successive events the 'World of Titan' exclusive showrooms mushroomed nation-wide, currently totaling 367 plus. The main manufacture facility is situated at Hosur in Tamil Nadu with assembly units in Dehradun, Pantnagar and Roorkee and an electronic sub assembly plant in Goa in India. Titan Company notably left its footprint in Europe in 1993; then came a major one in the Middle East and the Asia-Pacific regions. Titan now happily ticks its way across 32 countries around the globe. A brief joint venture with the American brand, Timex, between 1992 and 1998, focusing on market mass, prospered. The brand Timex jumped to 2nd place next to Titan, in popularity. On dissolution of the partnership, Titan reclaimed market share by launching Sonata, an absolute winner, followed by an astute array of wrist wear - Titan, Fastrack, and Xylys brands, luxury watches and designer timescapes - a range of outdoor clocks - defining spectacular landmarks in several cities. Pacing on, the Swiss and Japanese watch fraternity were justifiably astounded, not only with the state-of-art Production facility established by Titan, but also with its highly trained, dedicated, youthful workforce. Endorsing the Tata spirit, Charles Correa, a world-renowned architect, was commissioned and fashioned a complete modern township at Mathigiri in Tamil Nadu, India to accommodate over 2000 Titanians, complete with an excellent school that doubles as a learning facility for neighboring district schools.
  33. 33. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 33 Venturing on Diversification accelerates progress. Titan’s expansion plans in 1993 turned to jewellery, with a brand launch ‘Tanishq’ in 1996. Then a spate of new ventures followed suit, Fastrack – the youth watch and accessories line in 2003; Precision Engineering in 2005, Goldplus the standardized mass marketing of jewellery in 2006 and the Titan Eyewear Division in 2007 - a project of prescription eyewear, complete with specialized outlets, catering to customers’ every need. Catering primarily to a country which views gold as a prime investment, believes that it is auspicious, and finds it an irresistible adornment, Titan Company literally struck it rich by its entry into the world of traditional and designer jewellery. The concept of entering the glitter field, in order to forge a way out of a foreign exchange crunch of the early 1990s, appealed to Titan Company considerably. And yet again, though early steps were far from expected, the innovative Titan spirit came to the fore, turning adversaries into achievement, and how!! Foreign Exchange being no consequence subsequently caused Titan Company to focus exclusively on the home market. Tanishq offers a stunning world of exquisite, precious designer ware through over 157 stores in 89 cities across the nation. Goldplus has a proud market share of around 40% in the semi-urban and rural scenario, whilst still in its infancy. These two ventures are a pride to India and to Titan Company, for they certainly keep value conscious customers happy and contented. Products:- Titan Company, best known as India's pioneering manufacturer of quartz watches, has also etched a niche for itself in some of the most competitive spaces in the fashion industry such as jewellery and eyewear. Precision engineering is another area of specialization that Titan Company is proud of. Watches: Being the world's fifth largest integrated own brand watch manufacturer, Titan Company has created and sold more than a 150 million pieces the world over. With a production rate of over 15 million watches per annum and a customer base of over 135 million globally, Titan Company owns manufacturing and assembly operation centres in Hosur in Tamil Nadu , Dehradun, Roorkee, Pantnagar in Uttaranchal and an Electronic Circuit Boards (ECB) plant in Goa, all in India.
  34. 34. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 34 Capturing the important market segments and the changing fashion trends, Titan Company has brought forth four core watch brands: • Titan which is designed for the mid-premium segment. • Fastrack which is crafted to fit the trendy fashion space with a focus on the youth. • Sonata which is created for the mass market and has emerged as India’s largest selling watch brand. • Xylys which is fashioned for the premium market, aiming at the connoisseur and new-age achiever. The Titan brand architecture comprises several sub-brands, each of which is a market leader in its own space. Notable among them are: Titan Edge, Titan Raga, Nebula and several other collections like Zoop, Orion, Purple, Obaku, Automatic, Tycoon, Bandhan, Octane and the HTSE series. The Titan brand portfolio owns over 60% of the domestic market share in the organized watch market. Titan Company's pride possession, a world-class design studio for watches and accessories, is the place where some of the most coveted creations have been conceptualized. Exclusive World of Titan and Fastrack showrooms and over 11,000 outlets in more than 2,500 cities in India make these much-sought-after watches available to the buyers. The watches are also offered internationally in 32 countries, with a special focus on the Middle East and Asia Pacific regions. Helios, India's multibrand watch retailer offers an unmatched range of the latest designs across 30 international brands in addition to Titan brands. The after-sales service, a benchmarked operation with a large network of exclusive service centres spread across the country, is one of the operation units with one of the fastest turnaround time in the world.
  35. 35. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 35 Jewellery: Following the suit of time products, Tanishq has been India’s largest, fastest growing and most popular jewellery brand. Tanishq offers a premium range of gold jewellery studded with diamonds and precious, semi- precious stones in various hues in 18 kt and a wide range of plain gold jewellery in 22 kt pure gold. Platinum jewellery also forms part of the product range. Gold Plus retails plain gold jewellery offerings with designs specifically created for the semi urban and rural Indian market and offers unique designs crafted with diamonds, American diamonds and other precious stones. Zoya offers premium studded jewellery catering to the needs of the elite. The enchanting jewellery patterns originate in the well-equipped exclusive jewellery design studio of Titan Company. Eye Wear: Titan Eye+ offers a variety of differentiated products to the end consumer consisting of frames, lenses, contact lenses and accessories. Frames are available in both international brands (Levis, Esprit, Hugo Boss etc.) and in-house brands – Titan, Eye+ and Dash. Customers are offered a unique browse-select-buy format where all products are accessible, using world class equipment for zero-error eye testing by qualified optometrists trained at Sankara Netralaya, a renowned eye hospital in South India and style consultants to help buyers make the right choice of frames and lenses.
  36. 36. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 36 Precision Engineering: The division’s products span precision engineering components & sub-assemblies, machine building & automation solutions, tooling solutions and electronic sub-assemblies. The division is ISO 9001:2000 and ISO 14001:2004 certified. Additionally, the unit catering to the aerospace segment is AS 9100B certified and the unit catering to automotive segment is TS 16949 certified. The unit has recently been selected for the National Aerospace and Defense Contractors’ Accreditation Programme for its non- destructive testing capabilities. Vision & Mission:- Our Vision: We create elevating experiences for the people we touch and significantly impact the world we work in. Our Mission: We will do this through a pioneering spirit and a caring, value-driven culture that fosters innovation, drives performance and ensures the highest global standards in everything we do. Our Values & Standards: Total customer orientation: Customers take precedence over all else, always. Employee appreciation: We value and respect Titanians and endeavor to fulfil their needs and aspirations. Performance culture and teamwork: At Titan Company, high performance is a way of life and is nurtured by teamwork. Creativity and Innovation: Driven by innovation and creativity, we focus on smarter approaches and newer technologies. Passion for excellence: In all our pursuits, we ceaselessly strive for excellence. Corporate Citizenship: We ensure that a part of our resources is invested in environment and community betterment.
  37. 37. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 37 Celebrating Titan:- After two decades of building relationships with our customers, and learning from all the successes and failures that came our way, it is time to pause, reflect and celebrate. It is time to honor the indispensable role of our people, our business associates and suppliers, who have enriched the fabric of Titan Company, as we know it today. We are proud to have withstood the test of time and maintained our dedication to the values upon which Titan Company was founded. People are at the heart of our success Over the years, we have built our operations, nationwide and worldwide, leveraging the expertise of our most talented, dedicated and hardworking people with the vision, integrity, innovation and leadership qualities that our business demands. We have continued to emphasize its’ people first policy, making it possible for the Company to report one of the industry's lowest attrition rate (9.5%) in India. Titan rejuvenates competence through training and personal development on one hand and lateral movements across functions and divisions on the other, which translated into high engagement and expose to new opportunities. For over two decades, our core values of commitment to safety, health and environment, high ethical standards and respect for people has been the cornerstone of our identity. Relationships are a sacred bond of trust for us At Titan Company, we have built relationships and forged lasting bonds with our customers, employees, shareholders, network of business associates, and suppliers. With our futuristic designs, we created a desire in the minds of our customers and offered them accessories for every occasion. In a small way, we have been a part of all their celebrations. ‘Customer First’ - an initiative driven by the company is an embodiment of the customer-focused culture that we imbibed from the very beginning. We continue to foster greater customer commitment by making our product lines more comprehensive. Growth depicts many milestones We have been able to remain the undisputed leaders in the market. Taking the prognosis of brand fatigue seriously, we reinvented ourselves with the impeccably styled Euro watches collection. Triumphs like this were interspersed with tribulations that spurred us to accept new challenges and overcome them with a resolve and commitment. With over 984 exclusive showrooms and 11,000 dealer-outlets, we are the largest retail network in India.
  38. 38. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 38 Innovation at Titan:- Innovation is a way of thinking at Titan Company Limited Titan Company began its operations with an innovative offering - quartz watches - that changed the face of the Indian watch industry. Innovative ideas at Titan Company have led to significant achievements such as Single Point Solutions to every Original Equipment Manufacturer customer. Titan Edge, world’s slimmest watch, is probably the best example of the spirit of innovation in the organization – a feat achieved in less than five years of our existence. “Innovation School of Management” (ISCM) has been started to address the objective of creating the ability to innovate and making it a culture among the employees. At ISCM, students are trained on various tools and techniques to develop innovative thinking capability, and the Head of Departments are trained as a Mentor to use the innovation outcomes. Tools and techniques enable students to think out of the box and beyond the obvious. The graduates from ISCM deploy this learning to resolve problems at work, as well as in their personal lives. Titan Innovation Council (TIC): TIC is a cross functional team of Senior & Middle Management to create ideas to spread the innovation culture across Titan Company. They have created and drive the following: 1. Interweave: This is an initiative that provides an opportunity for different businesses to present and cross learn the innovative ideas that have been implemented in other businesses across retail and manufacturing. 2. Tata Innoverse: This is a web 2 based social networking platform, to enable employees of Titan Company as well as other Tata Companies to provide innovative ideas to challenges posted by Senior leaders. Employees can also comment and vote on ideas submitted by other employees. We have also extended Tata Innoverse to our supplier fraternity.
  39. 39. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 39 3. Innovation Centre: Innovation Centre is a space to generate great ideas and provides a free, creative Innovation Centre space, where interchange of ideas and unhindered experimentation has a home. It consists of two spaces. The first hall is the Xerxes Desai Hall of Creativity, which harbors the Exploration Laboratory, Reference library and Study Area. The second hall is the Bhaskar Bhat Hall of Tranquillity, is the hall where prospective innovators can meditate, introspect, listen to lectures or practice yoga. 4. Titan Innovation HUB: Set up at IIT- Madras Research Park, Chennai, it enables Titan to leverage the specialized expertise of the faculty and students and to utilize their facilities, labs in creating a collaborative environment between industry and academia through joint research projects and consulting assignments and in creating a self-sustaining and technologically fertile environment. Our contemporary store designs are a great example of innovation. They have redefined the retailing standards in India since the time when the concept of modern retailing had not evolved. The Jewellery Division changed the dynamics of gold market by introducing the Karameter, an industry first in checking the purity of gold through a non-destructive test. 5. Innovation Bazaar: This is an initiative to cross learn the innovative ideas among the company and showcase the ideas of all the divisional improvement / innovation in four categories: a) Process, b) Services, c) Design / Product and d) Marketing / Retail / Customer service through “Innovation Bazaar” to all the employees of the Company to understand the happening in the other divisions / functions and to improve their process. Awards & Accolades:- Over the years Titan Company has received several prestigious awards and distinctions. Some of the recent and most noteworthy recognition's are: Corporate: Titan continues to be in Forbes Asia’s FAB 50 companies list for 2013 • Gold Award (the best in India) and Best-of-the-Best Award (among the top 5 in Asia Pacific) at the Retail Asia-Pacific Top 500 Awards 2013 • “Transformational Leader of the Year” Award for
  40. 40. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 40 Mr Bhaskar Bhat, MD at Managing India Awards 2013 by AIMA • Best Governed Company Award 2012 from Asian Centre For Corporate Governance & Sustainability. Watches: CII award for Excellence in Energy management for the Watch Manufacturing Division, Hosur • Sonata received recognition at the ABP Pitch Brands 50 Awards 2013 • Fastrack is placed 4th and Titan is placed 16th in the list of most exciting brands in India in the survey conducted by A C Nielsen and the Economic Times (Brand Equity) • Silver Effie award for an effective 360 degree campaign for Titan HTSE. Jewellery: IIFT Fashion & Lifestyle Award 2013 for Tanishq • IJ Jewellers Choice Award in the ‘Diamond Jewellery under 5L’ category for a necklace from ‘Ganga’ collection • Designomics award for Mia product design and CII’s Best product design (Lifestyle category) award for Mia. Community Initiative:- Community Development and CSR Policy:- Titan Company has a clearly defined policy for Corporate Social Responsibility (CSR). As part of the company's CSR initiative, the manufacturing units of Watch and Jewellery Divisions at Hosur have acquired the certifications 'ISO 9001: 2000 Quality Management System Standards' and 'ISO 14001:2000 Environment System Standard' emphasising the efforts to be an ecologically responsible organisation. The company's diverse CSR initiatives include: • Children's education • Enabling the disabled • Artisan parks • Women's empowerment • Environment management programmes. Miscellaneous Community Initiatives:- Titan Company's community initiatives are committed to build partnership for social development, focus on sustainable initiatives and improve the quality of life of the communities where the initiatives operate. With a dedicated force of 250 enthusiastic employee volunteers, the company has formed a Community Development Forum. This forum works towards mobilising society and volunteers to make the community initiatives a success. The company's miscellaneous community development activities include orphanage
  41. 41. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 41 support, HIV/Aids awareness, village adoption, vision improvement program, a program to provide work to rural unemployed women, community rehabilitation, tsunami relief work, eradication of child labour and environment protection, to name a few. The company has made a positive change in the lives of over 2000 people. Corporate Responsibility Begins at Home:- Titan Company believes that corporate responsibility begins with the employees. The company ensures that the harmony, peace and inclusive approach at work place are maintained. Efforts are made to engage the employees in programs designed to fulfil our ecological and social responsibility. Various work-place initiatives are conducted to achieve this: War on Waste - an initiative that reduced the impact of manufacturing operations on the environment. At Titan Company, Corporate Social Responsibility is more than philanthropy - it is an internal process that reflects the soul of the company. Successful CSR Programs:- Titan Company has embarked on and completed several community development programmes as part of its CSR initiative. A few among these successful projects are: Titan Scholarship: Have been awarded to students in Dharmapuri and Krishnagiri districts (Tamil Nadu), based on academic performance and socio-economic background for over 550 students form the economically backward section. Titan Company has embarked on and completed several community development programmes as part of its CSR initiative. A few among these successful projects are: Titan Township: A sustainable community in Hosur (Tamilnadu), that provides housing to 1300 residents collaborating with NGOs MCA and Ashraya. Employment: To over 120 physically challenged people. Karigar Park: A social entrepreneurship project with six parks, benefiting over 400 artisans. Titan School and Titan Foundation for Education: A primary school with over 550 students, expanding to classes IX and X with a provision to accommodate 160 more students. Meadow Project (Myrada): A collaborated effort with self-help groups of rural women to provide gainful employment to more than 510 rural women in and around Hosur (Tamil Nadu). Recognition of CSR: As an appreciation of its significant contribution to the community welfare, Titan Company has received the 'President of India's Award' for employing the
  42. 42. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 42 disabled. Titan Company, a signatory to the Global Compact, is a recipient of the prestigious 'Helen Keller Award' and the 'Mother Teresa Award'. The company has also been ranked as one of the top four, top ten and Top eleven companies in the 'Karmayog CSR Rating of India's Top 500 Companies' in December 2007, 2008 and 2009 respectively. Other noteworthy awards for CSR include: - FICCI-SEDF Award for Social Responsibility - The Rotary Club of Bangalore Award for Corporate Citizenship - The PHDCII Award for Good Corporate Citizenship Ranked among the nation's best corporate citizens, Titan Industries is committed to take on the social responsibility and fulfil it with dedication. All the Titan Products Logos:-
  43. 43. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 43 Senior Management:- Mr. Bhaskar Bhat Managing Director Bhaskar Bhat assumed the position of Managing Director of Titan Company Limited on 1st April 2002. He is a, B.Tech (Mechanical Engineering) degree holder o(IIT - Madras, and a post graduate diploma holder In Management from 11M- Ahmedabad, India. Most of Bhaskar's working experience has been in Sales & Marketing. Having started hi's career as a management Trainee with Godrej & Boyce Manufacturing Co. In 1983 he moved on after 5 years and joined the Tata Watch Project (initiated at Tata Press Ltd.) Since 1983 Bhaskar has been associated with the Tata Watch Project, later to become Titan Watches Ltd., and now Titan Company Ltd. At Titan, Bhaskar dealt with Sales & Marketing, HR, International business and various general managerial assignments. Bhaskar is a member of the Governing Council at the T.A. Pai Management Institute, Manipal and the SDM Institute of Management and Development, Mysore. He was awarded the Distinguished Alumnus Award-of lIT Madras In 2008.
  44. 44. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 44 Mr. C K Venkataraman Chief Executive Officer – Jewellery Venkataraman has headed the Jewellery Division since January 2005. He is a post graduate diploma holder in Management from IIM-Ahmedabad. Venkataraman joined Titan Company Limited in 1990, and worked in the Advertising and Marketing functions before becoming the Head of Sales & Marketing for the Titan brand in 2003.
  45. 45. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 45 Mr. S Ravi Kant Chief Executive Officer – Eyewear Division & Executive Vice President Corporate Communications and Unified Loyalty Ravi has a Masters in Business Management from FMS Delhi and joined HCL in 1982. After 6 years at HCL, handling different sales and marketing responsibilities he joined Titan in 1988 as Head- Direct Marketing. He moved on to head Retailing, followed by Exports and also set up the watch assembly plant in Dehradun as Project Leader. Till 2005 Ravi managed the Middle East and Africa operations for watches, jewellery and fragrances as M.D. of Titan International (ME), Dubai. He subsequently moved back to the Company headquarters at Bangalore and took over the International Business Division - managing both businesses - watches and jewellery in over 25 countries. Currently Ravi heads the Eyewear Business of the Company as its CEO·and Executive Vice President. He also handles the additional responsibility of leading Corporate communications and Unified Customer Loyalty functions for the Company.
  46. 46. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 46 Mr. H G Raghunath Chief Executive Officer – Watches and Accessories H G Raghunath has been involved in the watch industry for over 30 years. He joined Titan Company Limited in June 1986, and helped set up and establish the After-Sales Service network both, in India and ·overseas. He has been involved in the customer-service function for 17 years and for nine years in ISCM. He holds degrees in science and Engineering (Electronics & communication) and is a.coveted speaker on SCM in many forums.
  47. 47. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 47 Mr. L R Natarajan Chief Executive Officer – New Businesses Natarajan is an Automobile Engineer' from the Madras Institute of Technology. He has been with Titan Company Limited since 2003. He has around 30 years of experience in various capacities. His innovative concepts were also instrumental in securing National and International acclaim for Supply Chain and Goldplus. He has been instrumental in setting up the Innovation School of Management, Innovation Centre and Innovations and drives the innovation initiatives within the company.
  48. 48. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 48 Mr. S Subramaniam Chief Financial Officer – Head of IT Function Subraniam is the Chiel Financial Officer for Titan Company Limited. He heads the Finance, Accounts and Commercial Functions for the Company, ACA and ICWA by profession, he has over 25 years of experience in Finance and Business Roles. Subraniam has been driving strategic finance and has been a part of the top management teams for the past 10 years. Prior to joining the Titan Company, he was the CFO for the Telecom vertical of Essar Group, responsible for Finance Strategy, working on M&A’s and on improving operational performance of the Group Companies. He has also held senior positions with ITC, BPL Mobile, Mannai Corporation, Doha, etc. Mr. Rajnarayan Chief Human Resource Officer Raj is a graduate in Economics from Madras Christian College, Chennai and a post graduate in Personnel Management from XLRI, Jamshedpur. He has 29 years of experience in Human
  49. 49. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 49 Resources Management, Training, Leadership Development and Talent Management. He has worked with HCL, TNT< SHV Gas and Metro Cash & Carry before joining Titan Company. Mr. C Srinivasan Vice President – Chief Sales and Retail Officer Srinivasan is a Management Graduate from IIM – Ahmedabad. For the past 10 years he has been heading the Sonata Business Unit, responsible for the Sonata Institutional, Armed Forces and the Customer Service Businesses and played a major role in the setting up and nurturing of the sales infrastructure for the Watch Business. Mr. Ronnie Talati Senior Vice President Ronnie is a B.Com, LLB from the Bombay University. He is a sports and fitness enthuasist and joined Tata Press in 1976. Ten years later with Titan Industries, Ronnie as GM Finance was largely responsible for the setting up the Finance Department. In 2005 he headed the new business units to target youth. Thus “Fastrack” came into existence. Mr. Sandeep Kulhalli Senior Vice President – Retail and Marketing, Tanishq Sandeep is currently the Senior Vice President of Retail and Marketing, Tanishq. He is a B.Sc, Chemistry graduate from Fergusson College, Pune. He joined Titan Company Limited in 1988 as Area Sales Manager, West Bengal and North East. With the launch of Times, he moved north as Regional Manager in 1994. He currently also looks after the E-Commerce initiatives in the Company. Mr. Ajoy Chawla Chief Strategy Officer Ajoy is a Mechanical Engineer from VJTI Mumbai and a post graduate from IIM – Calcutta. He joined Tata Administrative Services in 1990 and has been with Titan Industries since 1991. He has over 20 years of experience with Titan Company, across geographies and businesses, covering Sales, Distribution, Retail and Business. He has held many senior portfolios in the company business and now is the Chief Strategy Officer of the Company.
  50. 50. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 50 Mr. A R Rajaram Head Legal and Company Secretary Mr. Rajaram, is Secretary of the Company and holds charge of the Legal Function. A Law Graduate from Bangalore University, Mr. Rajaram is a Fellow Member of The Institute of Company Secretaries of India. In his previous assignment with Bangalore International Airport Limited (BIAL), he has worked as Head – Legal and Company Secretary for four years. Prior to BIAL he has worked with Jet Airways (India) Ltd and BPL Limited. He has over 30 years of experience in the fields of Corporate Laws, Securities Laws, FEMA, IPO’s, M&A, Litigation matters and Legal Documentation. Business Divisions:- Watches and Accessories Division:- The Watch Products Division is where the Titan Story began. Today, this division has placed Titan Company among the world’s largest retail networks and earned the company the place of fifth largest integrated watch manufacturer in the world. With over 4000 employees spread over 3 business units in Bangalore, India, a manufacturing unit at Hosur and 3 assembly plants located in the north of India, the division continues to add world-class brands to the Company’s Portfolio. Outstanding Brands:- Our customers have been at the core of this growth and the division offers a slew of products that cater to their inherent needs. Some of the most notable brands in the division’s portfolio are: Titan Edge: The World’s Slimmest Watch (at 3.45mm) that epitomized the philosophy less is more. Titan Raga: A feminine and opulent accessory for today’s affluent women. Nebula: Watches crafted with solid 18K gold and precious stones. Sonata: India’s Largest selling watch brand to suit the common man’s wallet. Xylys: A Swiss-made, impeccably designed watch for the connoisseur and new age achiever.
  51. 51. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 51 Fastrack: Watches created to accessorise the trendy youth of today. The watch collection also boasts of collections such as Automatic, Heritage, Nebula, Orion, Raga, Zoop and series like Aviator, Octane and WWF. Retail: The watches and accessories division also markets some well-known international brands such as Tommy Hilfiger, Timberland, Police, and FCUK under a licensed agreement, giving the new generation customers an access to premium brands with their well-equipped retail chain. The Division has sold over a million watches through the unique format of “World of Titan” – where both in-house brands and licensed brands are offered – and thorough a vast network of dealers and lifestyle stores in India and in 32 countries worldwide. The division offers after-sales service network that has been considered benchmarked operation in the Industry. The division constantly endeavours to understand and predict the customers’ needs and strives to launch newer and trendier products regularly. Helios: India’s multi-brand watch retailer offers an unmatched range of the latest designs across 30 international brands in addition to in-house brands. These stores are specially designed for the well-travelled connoisseur with a discerning taste in watches and a brand conscious outlook Spread over a spacious area of 2650 sq ft, the high-end multi-brand watch store houses more than 2200 watches and over 35 premium international watch brands including Versace, Seiko, Movado, Hugo Boss, Citizen, Fossil, Titan, Xylys, DKNY, Roberto Cavalli, Esprit, Tommy Hilfiger, Raymond Weil, Baume & Mercier, and Victorinox, amongst others.
  52. 52. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 52 Fragrances:- Skinn:- Titan Company Limited widened its footprint in the personal lifestyle segment with the launch of the SKINN Titan range of fine French perfumes. With the combination of the best international fragrance expertise and one of India’s most trusted brands; SKINN Titan redefines the Indian fragrance Industry with its product offering. Assuring of the highest quality and bearing the hallmark of Titan, SKINN range is specially crafted by blending exotic yet contemporary notes that are native to rarest and finest of ingredients sourced from myriad locations across the world. Designed in-house and created by six world renowned Master Perfumes including Harry Fermont, Michel Girard, Fabrice Pellegrin, Nadege Le Garlantezec and the celebrated Alberto Morillas and Olivier Pescheux, these French-made perfumes are the international interpretation of HIM and HER. They array of fragrances portrays a young Woman’s sensuality in SKINN IMERA; her warm seduction in SKINN NUDE; her charms and complexities in SKINN CELESTE, SKINN EXTREME celebrates the sporty vitality of a man whilst SKINN RAW defines masculinity and SKINN STEELE is a power trip of complex spices. The current portfolio of SKINN includes these 6 exciting variants in the EDP (Eau De Parfum) format and crafted to last longer with notes that endure and grow pronounced with time. They are devoid of any dyes and have been Dermatologically Tested. The Mens perfumes are for discerning, confident Indian man, who personifies elegance, power and sophistication. Vanilla has been sourced from Madagascar, Patchouli from Indonesia, Cedarwood from Virginia, Orris root from France and Orange flowers from Tunisia. These ingredients embody the spirit of the man wearing the perfume. The men’s range has ingredients ranging from delicate pink peppers to leather to addictive Tonka beans, musk and sandalwood. The Indian woman is an enigma, very hard to decipher and she offered the master perfumers a challenging task to develop a distillation that she would love to wear. A mix of delicate and exotic ingredients was chosen to entice her. Cedarwood from Texas, White wineyard peach, Bulgarian rose essence, Bergamot and Lemon from Italy comprise the unique fragrances that suit every mood and every occasion.
  53. 53. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 53 International Brands:- Tommy Hilfiger Watches:- Tommy Hilfiger, one of the best-known American fashion brands, has its roots in Elmore, New York. The brand is recognized world over for Watches, Jeans, and Fragrances etc. The Tommy Hilfiger Watches are crafted with precision and care and finished with unique signature details for unmistakable style. The look on these Watches represents is cool and classic, spirited, fun and always fashionable. These watches strike a chord with people who espouse the brand attitude of being optimistic, hip, natural, confident, relaxed and spontaneous. The designer styles with an unmistakable ‘Tommy Twist’ are offered with collections to suit different tastes, moods and occasions of wear. Titan Company Limited has made Tommy Hilfiger watches available in India at most ‘World of Titan’ stores, leading multi-brand watch outlets, and department stores like Shoppers Stop, Central and Lifestyle. French Connection Watches:- Founded in 1972 by Stephen Marks, French Connection set out to create well-designed fashionable clothing that appealed to a broad market. FCUK is a short, sharp acronym for French Connection United Kingdom. It is now one of the strongest brands in Britain and operated in over 25 countries. Having established a strong core clothing business, through unique design and a true sense of style the Company has, over recent years expanded its portfolio into exciting new areas including Men’s and Women’s Toiletries, Shoes, Jewellery, Watches, and Eyewear. FCUK has been launched in select Large Format Stores and multi-brand outlets across the country by Titan Company Limited. Timberland Watches:- Titan Company Limited, under its licensed brands division, adds another in its cap by bringing the Timberland Collection of watches to India. The time pieces are highly durable and bring out one’s rugged individualism, energy and strength, combined with a refined style. The Outdoor inspired watches, as part of their Spring-Summer collection, captures Timberland’s strong brand essence, inspiring the people to escape the city and discover what the world has to offer in the great outdoors.
  54. 54. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 54 Police Watches:- Police is a dynamic and edgy lifestyle brand that appeals to urban, fashion-conscious consumers, making a bold statement about individuality with every product. The brand remains true to its Italian roots and is a leader in the production of distinct and glamorous products. The Police timepiece collection enhances the brand message in a bold and urban manner. The watches set market-wide trends: from retro to modern, glamorous and sporty, Police watches appeal to individuals with unique personalities.
  55. 55. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 55 Design Studio:- Titan Company’s design studio is where India’s most popular watches and eyewear are conceptualised. The studio is truly a testimonial to the creative and innovative spirit of the company. A blend of young and experienced designers – dynamic and original – from India’s most prestigious fashion and design institutes creates award-winning pieces year after year. The studio boasts of a cross-disciplinary amalgam of some of the most imaginative and innovative designers across the country. The Design Studio serves as a one-stop shop for the design needs of the brands: Titan, Fastrack, Sonata and Xylys. With design and execution of the Timescapes range of outdoor clock to its credit, the studio also designs and manufactures trophies for in-house requirements as well as for various clients such as Standard Chartered, Taj Group, the Government of India, among others. These trophies, created under the brand name Titan Trophy are as much joy to present, as they are to receive. The Visual Merchandising team that ensures impeccable implementation of ideas enhances the product design. A robust in-house process, based on special constraints of various creative activities, is in place to manage design projects. Seamless synchronization of cutting- edge technology and appealing designs spells the expertise of the design team. Marketing requirements are translated into attractive accessories with effortless spontaneity. The studio focuses on user-centric designs that bring global trends to the discerning Indian customer. Titan Global Design is a new multidisciplinary design studio known for its innovative and refreshing approach towards design. It aims to explore design opportunities in the external world and expand its design expertise to newer horizons. Our holistic (3i) approach involves Immersion, Ideation and implementation as the three main pillars of the design process. This goes hand in hand with design research which is conducted to spot, interact and analyse trends in social behaviour. At design studio our passion is to create user centric design. With many prestigious awards to pride itself on, the design studio shares the adventurous spirit of the Titan Company and looks into the future with a will to conquer.
  56. 56. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 56 Integrated Supply Chain Management:- Titan Company changed the way watches were designed, manufactured and marketed and revolutionized the Indian Watch Industry. Today, watches are considered as a fashion accessory, rather than a time keeping device. Titan watches, the most trusted and popular watches in India are manufactured at Hosur, an Industrial suburb of Tamil Nadu, India. Set up in 1985, with initially planned annual capacity of 2 million, today the unit produces components for over 11 million quartz analog wrist watches, thanks to the state-of-art manufacturing facilities at the unit. Titan Company’s movement manufacturing set-up was established in technical collaboration with France Ebauches, a leading quartz analog movement manufacturer in France. In 1989, watch case manufacturing technology was obtained from Citizen Watch Co. of Japan and in mid 90’s, the technology for complicated watch cases and solid link bracelets manufacture was obtained from a Swiss Company. State of the art physical vapour coating facilities have been established with the help of technology frim German and Swiss coating expert companies. A Watch Assembly unit was established at Dehradun in 1990 and since then, two more assembly units are functional: Roorkee and the latest one at Pantnagar, Uttarachal (2010). Today, Titan Company’s watch assembly capacity is about 15 million watches per annum. Titan Company is one of the very few manufacturers in the world that manufactures watch movements, watch cases and watch assembly under one roof. It is the fifth largest, integrated watch own brand manufacturer and retailer in the world. From the initial offering of 150 models in 1987, today the supply chain and manufacturing set-up has the capability to handle over 3000 watch variants every year, the fact that depicts the product mix complexity. In- house watch case plant has unique capability to produce range of product that varies from cost effective value for money products to complex designs that adore the wrists of different brands customers like Titan, Fastrack, and Sonata. In-house movement plant produces the world’s slimmest movement ‘Edge’ with pride.
  57. 57. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 57 Titan Customer Service:- Spread across India, with 748 service contact points in more than 265 towns, Titan Company’s Service Centre network is committed to deliver a satisfying port-sales experience to all the customers. The Watch Care Centres are attached to the World of Titan and Authorised Service Centres are attaches to multi-brand outlets, both offer quick and high-quality repairs for all types of watches currently sold by Titan with a six-month service guarantee. At the Titan Watch Care Centres, all repair activities follow a strict and systematic process that is controlled and measured through an ISO audit system. To ensure good quality, faster turnaround time and customer satisfaction, Titan Industries has various schemes in place. A post service follow-up (for major repair activity) is mandatory to complete the cycle of customer satisfaction. Titan’s loyalty Signet program – where customers can redeem their points is a part of Titan’s effort to retain and value its loyal customers. Titan Customer Service also markets spares and accessories, such as batteries, leather and metal bracelets to all outlets that sell Titan, Sonata and Fastrack watches. The staff actively encourages customers to use only original spares in order to ensure quality and satisfaction. Titan Customer Service, with the ISO 9001 & 14004 certification, focuses on the best post- sale experience and complete customer contentment.
  58. 58. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 58 Titan International:- Titan Company went global in 1991, with the launch of Titan Watches in the UAE, Oman, Bahrain and Qatar. Operations in Kuwait and Kingdom of Saudi Arabia were launches in 1995-96. Titan Company further expanded into South East Asia, offering products in Singapore, Malaysia, Thailand, Vietnam and recently, in the Philippines and Indonesia. The African footprint, having started with distribution in Kenya and Mauritius in the mid-nineties, is also steadily growing, with operations in South Africa launched in 2012. Titan watches are also available in the adjoining countries of Djibouti, Uganda, Ethiopia, Nigeria and Ghana. Today, more than 2 decades after the first international foray, Titan Company’s presence spans across more than 2000 stores, in 32 countries. With a customer base of 135 Million globally, it’s no wonder that there is a Titan watch being owned, somewhere in the world – every 3 seconds! •12,000 Dealers •2300 TownsAll Over India •317 Showrooms •113 TownsTitan World •135 Multi-Brand •73 TownsTime Zones •348 Towns •650 Service CentersService Centers •6 Helios Stores •4 TownsPremium Stores
  59. 59. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 59 Jewellery Division:- Tanishq Titan’s flagship line of jewellery is today a resounding success with discerning customers. Tanishq has performed exceedingly well and has set standards, in what could be described as a largely unorganised and unscrupulous Indian Jewellery Market. The growth of the brand has once again been a testament to our customer focus. Tanishq is today a hallmark of trust, an island of purity. It is a certified division under the ISO 9001:2008 Quality Management System Standards and the current version of Environment Management System Standard is ISO 14001:2004. Tanishq is India’s fastest growing jewellery brand with a premium range of jewellery, studded with diamonds and coloured gems in 18kt gold, 22kt pure gold and platinum jewellery. We are now one of India’s largest speciality retailers and are transforming India’s Jewellery market with a pan – India presence. Titan felt a need and created a means to offer elegant gold jewellery to smaller towns and rural markets. The recent launch of a retail initiative – Goldplus caters to the need. Both brands contribute to over Rs.1450 million USD. And are still flourishing. Truly a phenomenon in itself, Tanishq is our pioneering Indian brand storming a market of over 400,000 independent jewellers. The brand is evolving faster than the market and is either leading or closing gaps between competitors in urban markets where we have a presence. The trust connotations that the Tata – Titan association evokes, never fails to attract increasing numbers of jewellery seekers to the fledging designer brand. Titan ensures that they are spoilt for choice, transparency and a great shopping experience with Tanishq, the jewel of its crown. Tanishq is a trustworthy, popular jewellery brand from India’s largest integrated jewellery manufacturer. Zoya, by Tanishq is a chain of luxury jewellery boutiques which target elite, discerning ladies seeking designer wear of international standards. Zoya is a best-in-class shopping experience. Stores offer exquisite, artistically styled masterpieces, studded in diamonds, apart from traditional, fusion polka and kundan jewellery. There are magnificent designs to choose from, all in ultra-premium luxury, these outlets showcase luxury unsurpassed. Zoya creations are world-class in terms of quality and have been crafted in India and abroad. It boasts the finest quality in India and is on par with the best in the world. Zoya stores are located in GK I, M Block – Delhi and Warden Road – Mumbai in India.
  60. 60. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 60 Eyewear Division:- Titan Eye+, the third major venture of consumer business by Titan Company, was launched into the organized eyewear segment in March 2007. Titan Eye+ offers Indian consumers a world class optical retail experience through products which showcase the best in contemporary design and style, coupled with optical expertise guaranteed thanks to the technical collaboration with Sankara Nethralaya, India’s premier eye care institute. Benchmarked against the best in the world, Titan Eye+ has redefined the way the organized optical retail market in India operates through pioneering concepts such as the open touch- feel-browse format, complete transparency in pricing, style, free insurance on spectacles, etc. All of this is backed by the high levels of quality and trust that customers have come to expect from the House of Tata and Titan Industries Limited in particular. It has recently introduced the remote online eye testing facility. Titan Eye+:- Titan Eye+ offers a wide range of optical products from stylish and contemporary frames and sunglasses to the latest lenses and contact lenses. Titan Eye+ also provides an array of optometric services. The friendly environment at the stores along with the specially trained retail and clinical staff make the customers experience pleasant and productive Frames: The store displays in-house frames such as Titan, Titan Eye+ and Dash for children. Titan Eye+ stores also sell a host of International Brands that conform to the rigorous quality standards at Titan Industries. Lenses: Lenses available at Titan Eye+ cater to the entire spectrum of vision correction needs. In addition to the in-house Titan brand, lenses from Essilor, Nikon, and Kodak are also available. Contact Lenses: Titan Eye+ offers contact lenses from world-class brands such as Bausch & Lomb, Johnson & Johnson and CIBA Vision. Sunglasses: Titan Eye+ stocks various International Brands of sunglasses including the in- house brand Fastrack. Services:  Zero-error eye testing in state-of-the-art optometry clinics  Style consultancy to select right frames  Browse, Select and Buy format  Free insurance for prescription spectacles  Remote online eye testing facility  Gift cards
  61. 61. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 61 International Brands:- Titan Eye+ stocks a selection of fashion and prescription frames as well as sunglasses from internationally renowned apparel brands such as Esprit, Tommy Hilfiger, Hugo Boss, Versace and Armani. The Titan Eye+ stores also offer high-end lifestyle brands such as Mont Blanc, Swarovski and Bulgari all of which cater to the premium segment of Titan’s clientele. These international brands enhance every look, be it trendy, sporty, casual or formal. With prices ranging between Rs.3,000 and Rs.30,000, the brands suit every wallet. New offerings from the brands mirror the international fashion seasons, with collection launches coinciding with the Spring-Summer and Autumn-Winter sequences. Precision Engineering Division:- Leveraging precision engineering core competencies from watch making, Titan initiated a PRECISION ENGINEERING DIVISION in 2005, catering to global majors across industry verticals like aerospace, automotive, oil and gas, engineering, hydraulics, solar and medical instruments. With an investment of over $10 million, the setup has four main business units:-  Precision Engineering Components and Sub-Assemblies (PESCA)  Machine Building and Automation Solutions  Tooling Solutions  Electronic Sub-Assemblies Precision Engineering Division in ISO 9001:2000 and ISO 14001:2004 certified. Additionally the unit catering to Aerospace segment is AS 9100B certified and the unit catering to automotive segment is TS 16949 certified. The Division has demonstrated consistent quality and delivery performance through several customer accolades like the Ford Q1 award and the Continuous improvement award received from the CEO of UTC, Louis Chenevert.
  62. 62. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 62 Depicting a significant and progressive growth drive, listed below are some of the Division’s top customers: 3M ARVIN MERITOR BEHR BOSCH DELPHI DELPHI-TVS ENDURANCE ISRO HONEYWELL IFB KNORR BREMSE HAL RICO AUTO SIEMENS SONA KOYO VISTEON TIMKEN UMESH PENCILS VALEO MINDA ADA STANADYNE TATA MOTORS LEGRAND TURBO ENERGY L & T ASTON MARTIN (UK) GOODRICH (USA) EATON (USA) FORD (USA) BCR PLASTICS (SWITZERLAND) Products Time Products Fastrack Raga Sonata Zoop Bandhan Purple Octane Eyewear Frames Lenses Contact Lenses Sun Glasses Jewellery Tanishq Gold Plus Zoya Precision Engineering PESCA Machiene Building Automation Solution Tooling Solution Electronic Sub- Assemblies
  63. 63. CUSTOMER PERCEPTION TOWARDS TITAN PRODUCTS Institute of Management Studies (Autonomous) pg. 63 Subsidiaries:- Titan Time Products Limited Titan Time Products (a 100% subsidiary of Titan Company) specialises in manufacture of electronic-board assemblies for industries such as automotive, industrial electronics, telecommunication, consumer, goods, medical, and defence. The state-of-art manufacturing facility, located at Verna, Goa, supports 150 people and boasts of a clean-room facility matching a class 10,000. Titan Time Products, capabilities include Surface Mount Technology for fine-pitch assemblies, Ball Grid Array placements, Chip-on-board Assemblies / Wire Bonding, and Through-Hole Assemblies. The testing facilities we offer include In-Circuit testers, Automatic Online Inspection Equipment (AOI), Solder-thickness measuring systems, and various other functional test set-ups. Titan Time Products, quality systems are accredited to ISO 9000 and TS 16949 standards and all processes are Restriction on Hazardous Substances compliant. This centre is seamlessly aligned with our group facilities in Bangalore and Hosur, providing customers box-build capabilities with plastics and sheet-metal integration. We enjoy an elaborate network of concept suppliers and manufacturers in India and abroad, and have sourcing set-up in Hong Kong and the UK. Titan Time Products, value chain processes run on SAP, and the manufacturing systems are calibrated to process multiple products simultaneously, with batches varying from Proto lots to larger volumes. The impressive array of awards bestowed on the company, such as the Award for Excellence in Total Productive Maintenance the IMEA Frost and Sullivan Award, the CII Excellence Award and the ELCINA Dun and Bradstreet Award are confidently illustrative of Titan Time Products strong and world-class manufacturing practices. Favre Leuba AG (FLAG) Favre Leuba AG (FLAG) is a 100% subsidiary of Titan Company Limited. The company is head quartered in Zug, Switzerland and owns the Favre Leuba brands, one of the oldest Swiss watch brands. The first (pocket) watch was manufactured by Favre Leuba in the year 1718 and the brand was registered as a trademark in 1737. The brand has had a continuous involvement with 8 generations of the family, making it amongst the most well-known family owned brands in the Swiss Watch Industry.

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