Central security distribution channel (CSD)WOT-World of titan
Its objective is to obtain maximum revenue from the market before substitute product appear
The brand name “TITAN” is classical and is based on Greek mythology. Brand Name:Tagline: BE MORE. WHAT’S YOUR STYLELogo:The pervasive blue-coloured Tata logo which was planned by the Wolff Olins consultancy was given a modification to make it more Greek like , curbing the circle around to make a base and giving it black and grey colour amalgamations and so the TITAN logo was born . The logo represents indefiniteness. Brand Meaning: Titan personifies anything of size, strength, or achievement.Substantiality: This refers to the size of segmented markets. Segments should be large enough to permit viable market effort directed towards them. Titan has fully satisfied this condition as its models i.e. Psi 2000, regalia (premium segment), Classique (office wear), Fastrack (Youth) etc are all large & profitable enough to direct marketing effort towards them.Accessibility:Could be attained through the existing channel of distribution. The segments must permit the firm to direct successfully different marketing effort towards the segments. The existing channels of distribution for Titan like exclusive showrooms and shop dealers can support titans various segments.Represent ability: Segments should be large and profitable enough to be considered as a separate market. Such segments must be representative in nature and must have individuality of their own. For example this condition is fulfilled in the kids segment, which is cornered by “Dash”Measurable:The size, purchasing power, and characteristics of the segments have to be measurable. This has been clearly satisfied by titan through its pricing and branding policy. While foraying into the Youngsters and Kids segment titan was sure that this segment is already present there and just the need was to differentiate and position itself.Likeability: The brand name is fundamentally expressive and cogent.Transferable: The name Titan means achievement and anybody wearing a Titan is an achiever is what is communicated. It can easily be applied across all product categories and geographies.Legal Protection: The brand name is legally protected in watches.Slogan: “BE MORE”Titan was launched in 1987 when watches were seldom stylish and catered to the basic need of knowing the time. TITAN brought in the style concept and gradually built its brand equity.Jingle: Mozart’s Fifth SymphonyTitan has a typical signature tune taken from Mozart’s fifth symphony. TITAN pioneered the concept of gifting watches and with the signature tune the watches caught the attention of many.Brand Associations: By being associated with Amir Khan, M.S. Dhoni, RaniMukherjee it has clearly communicated that this watch is the choice of Leaders.
MultibrandsLaunched in 1998 as a sub-brand of Titan (A Tata Company), Fastrack targeted the urban youth watch market, leveraging the brand equity of Titan to enter a new category. I believe Tata’s did this because Titan was a sophisticated brand and they didn’t want to confuse the customers by introducing peppy, youthful products under same brand. A new brand (Fastrack) was created within same product category (watches). Brand ExtensionRealizing the potential of the Urban Youth market Fastrack was spun off as an independent brand in 2005. Indian youth responded well to the refreshingly different and affordable products. Fastrack diversified into eye gear (hired John Abraham as brand ambassador) and currently is the largest sunglass brand in the country. Further exploiting the target segment, Fastrack has now ventured into new categories of bags, accessories, belts, wallets and adventure gear. Existing brand (Fastrack) was extended to newer (sun glasses, bags, belts) product categories. Line ExtensionHuge collection of watch and eye gear under various categories introduced by Fastrack over the years, for example in watch segment army collection, sports collection, biker’s collection etc. New BrandsNo example in Fastrack’s context, but if tomorrow Fastrack decides to sell apparels as well it may create a new brand to enter this product category.Just try to visualize how Fastrack has been evolving as a brand over the last few years. We as customers perceived it as watch brand, then they entered sun glasses segment and now they make bags, belts, accessories. Fastrack has a vision to become a “complete fashion brand for the youth”. I believe Fastrack has been reinventing itself quite successfully. A new brand has been emerging out of Fastrack. With vision to become “one stop shop for complete fashion for youth”, Fastrack is now opening independent stores, which were initially shared with other Titan products (you might have noticed this in shopping malls). The first store was opened in Pune in 2009 and recently new stores were opened up in Guwahati, Coimbatore. Fastrack plans to have 100 such stores by 2011.
Brand audit titan
Brand Audit on Presented by Jay Akhani Chetan Panara Jay Ajudia
About TITANTitan Industries is the worlds fifth largest and Indiasleading manufacturer of watches.The Titan portfolio has over 60% share in the domesticmarketShare in the organized watch market. To ensure adominant presence in the market the company hasshowrooms in every nook and corner of the country thatcaters to the needs of every segment of the people.
Company History•In 1984 the company was incorporated on 26th july at Chennai.•In 1992 an MOU was signed with Casio computer company of Japan to manufacture 2million digital and Ana-digital watches.•In 1987 the company set up a manufacturing facility at Hosur.•In 1989 the case plant at Hosur was commissioned. In 1992 over 150 models were introduced.
Brand Portfolio• Titan Edge - World’s slimmest watch (at 3.45mm) that epitomizes the philosophy ‘less is more’.• Titan Raga - a feminine and opulent accessory for todays affluent woman• Nebula - watches crafted with solid 18k gold and precious stones• Sonata - Indias largest selling watch brand to suite the common mans wallet• Xylys - a Swiss-made, impeccably designed watch for the connoisseur and new age achiever• Fastrack – watches created to accessories the trendy youth of today• The watch division also boasts of collections such as Automatic, Heritage, Nebula, Orion, Raga, Zoop and series like Aviator, Octane and WWF.
Product related attribute• Distinct watches in Gold and Leather• Stylish watches in Gold and Precious metals• Contemporary watches in stainless steel to withstand rigors of daily life• Casual watches for youngsters and for outdoor use• Jewellery watches in 18 carat Gold, studded with Gems and coloured stones• Use of plastic dials for bold and contemporary design
Place• Objectives and intentions - Broad basing their sales and marketing activities across the country. - In terms of town coverage, dealer network and new approaches to communication strategy, especially in non metros. - Plan and implement sales and marketing activities to achieve their targets. - Fine tune all marketing inputs in terms of media and other budgets to meet territory specific needs. -Identify performance targets with specific centres and improve cost effectiveness of operations.
Watch Market Map Formal / Classic Omega,Rado, Longines Raymond Weil Tissot NebulaSonata,HMT, TITAN CitizenMaxima XYLYSRs 500 1000 2000 4000 5000 10000 30,000 + Timex Espirit, Swatch Fossil Giordano, DKNY, Fastrack Carrera Tag Heuer Tommy Hilfiger Hugo Boss C Dior Fashion/Sporty
PROMOTION:-1. Advertising2. Sales promotion3. Public relation• Advertising media:• Television• Print• Internet• Titan brand ambassador:• Titan Brand: Aamir Khan• Sonata: Mahendra Singh Dhoni• Raga: Katrina Kaif• Xylys: Farhan AkhtarTitan tagline: Be moreFast track tagline: How many you have?
Public relation•Gift concept•Promotion On OccasionsSales promotion•Sponsorship•Promotion through Contests
Brand Element• Tagline: BE MORE. WHAT’S YOUR STYLE• Substantiality• Accessibility• Represent ability• Measurable• Likeability• Transferable• Legal Protection• Slogan• Jingle
SWOT Analysis• Titan has a domestic market share in excess of 50 per cent, in the organized watch market. Indias leading watch manufacturer and the worlds fifth largest . Their global sourcing and economies of scale give a significant price advantage and enable to offer an easy entry for consumers to the branded world at this price point. Here we will focus on the SWOT analysis of Titan.
STRENGTH• The Indian watch market is increasing rapidly & Titan is the leader.• Sonata is currently Indias largest-selling watch brand.• Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders.• Successful story of Fastrack, Orion, Raga, Octane, Xylys etc. The recent launch is of the childrens range, Dash & Nebula (Premium class).• 112 The World of Titan across 89 Cities and a chain of to being present in over 5545 dealer outlets in 1470 towns across the country.• Customer value and offered after sales service in a showroom environment. Proper differentiation from other.
WEAKNESS• Titan has no such weakness, but it has lots of product in watch. Which don’t create brand equity to a particular brand.•Main USP is low cost watch.• Can’t utilize properly the resources (domestic parts suppliers).
OPPURTUNITY• Growth of Indian watch market is very fast & huge opportunity in organized watch market.• Nearly 34 million watches are sold through grey market channels.• The second-largest branded player in the Indian watch market is Timex, with a market share of around only 7% & HMT remained into losses for last 5 years.• Currently, sales in India stand at an low number of 25 watches per 1,000 people, compared with 250 watches per 1,000 people in a developed society.
THREAT• Premium international watch brands such as Swatch, Esprit, Tissot, Longines, Rado and Omega entered in India.• Now that the Indian market is widely open to importations, it will be extremely difficult for the Indian players to maintain a sustainable growth.• Too many players will dilute the market & the profit margin• Mobile phones acting as substitutes of the watches .
Positioning• Attribute Positioning• User Positioning• Benefit Positioning• Competitor Positioning• Quality or Price Positioning
Segment• On the basis of age – For Youth: Fast Track – For elder: Sonata• On the basis of Gender – For Men: sonata, fast track, titan, nebula etc. – For Women: Raga, Octane• On The Basis Of Lifestyle – For Professional And Elders: Steel and Sonata – For Students: Fast Track.
Cont…• On The Basis Of Income: – Upper-Middle Class: Price range 20K-1L • Royal, Aurums, Nebula – For Middle Segment: Price Range Rs. 500-1500 • Exacta, Fast Tracks – For Lower Segments: Price Range Rs. 350-500 • Sonata
Conclusion• The opening of the Indian market and the arrival of premium Swiss brands has certainly led to Indian consumers being exposed to global brands, styles and various price levels. To the Indian consumers, the high price of Swiss watches has helped them to realize the value of Indian brands, particularly of Titan, which offers equivalent quality, but at lower prices and with better distribution and service. Titan has shown its differentiation, and customer centric approach which helped them to get the market.