Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

TITAN WATCHES- A case study

3,934 views

Published on

TITAN- The manufacturers of worlds slimmest wrist watch.
Established in the year 1984 and now is the world's fifth largest manufacturers of wrist watches and exports to 32 countries around the world and accounts for 60% share of of total Indian market.titan watches offers a range of brands including Steel, Regalia, Raga, Nebula, Sonata, Fastrack, Zoop, Orion, Purple, Obaku, Automatic, Tycoon, Bandhan, Octane, the HTSE series and now claims to have manufactured world's slimmest watch.

Published in: Lifestyle, Business
  • Be the first to comment

TITAN WATCHES- A case study

  1. 1. Samriti Gosain A brand innovation case study
  2. 2. Why study Titan watches ? Use of innovation Broadest range of watches Brand leader in the country of its origin Only branded watch company to originate from a newly industrializing country Became the best brand in a short time
  3. 3. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. WHO?WHEN?WHAT?
  4. 4. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. • Established in 1987 • Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team. • Third Indian watch manufacturer after HMT and Allwyn. WHO?WHEN?WHAT?
  5. 5. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. • Indian designer and manufacturer of watches, jewellery and other accessories including sunglasses, wallets, bags and belt. • Precision engineering is another area of specialisation. • Established in 1987 • Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team. • Third Indian watch manufacturer after HMT and Allwyn. WHO?WHEN?WHAT?
  6. 6. Today, Titan watches account for more than 60% share of the total Indian Watch Market. Sold in about 32 countries through marketing subsidiaries based in London, Aden, Dubai and Singapore. Titan offers various brands including Steel, Regalia, Raga, Nebula, Sonata, Fastrack, Zoop, Orion, Purple, Obaku, Automatic, Tycoon, Bandhan, Octane and the HTSE series. Introduction : History
  7. 7. Evolution of Titan
  8. 8. 1984 + • Joint venture • Electronic watches • 150 designs 1986 + Digital & ana-digital watches 1989 ‘Aqura’ range of watches launched • ‘Aqura’ sold to Timex • Consultancy services • Marketing strategy outsourced 1991 1992 • ‘Raga’ range of watches launched. • “Spectra” range reintroduced 1994 • ‘Tanishq’ range of watches launched • ‘Insignia’ launched in India 1995 + ‘Sonata’ range of watches launched 1996 Timeline
  9. 9. ‘Dash’ range of watches launched 2001 2000 • ‘Cyber’ range of watches launched • ‘Titan-Fastrack’ launched • ‘Baarah nai toh tera ampaign with pizza hut • ‘Classique’ collection launched 2004 ‘Crown’ range of watches launched ‘Vizag’ range of watches launched 20052006 ‘Xylys’ range of watches launched 2013 ‘Edge’ and Braille watches launched ‘Octane’, ‘Obaku’, ‘Automatic’, ‘Purple’ range of watches launched
  10. 10. Innovation strategies should lead to inimitability of strategic options that come from certain tacit knowledge elements or embedded organizational processes 1 Strategic options an innovation provides should lead to sustainable competitive advantage. Innovation should enable a firm to retain superiority in the market place.2 Strategic innovation should allow a firm to pursue strategic options without loosing its flexibility. 3 Options pursued should lead to durable benefits4 5
  11. 11. Technological Innovation Increased reach: Retailing Cycle time reduction Continuous feedback Constant review Multi-brand outlets Service excellence Slim watches Watches for disabled Better finishes of watches Designing watches through visualisation Broader ranges of watches Robust design of watches Organisational Innovation +
  12. 12. Innovation Agility and openness to change Product richness Alliance relationships, cross-functional teaming and design automation innovative approach to extend the reach to all major customer centers through the ‘watch supermarket’ concept. Superior brand reputation
  13. 13. Global brand World–class manufacturing New image driven by innovation High torque stepper motors for high reliability Vapour deposition technology for appearance parts Cycle time reduction through concurrent engineering World’s thinnest watch movement Concept marketing instead of product marketing Brand image building in Europe Brand leveraging in other personal product segments Global procurement Total Quality management at the suppliers end Training new & young staff to have a new corporate culture Cross cultural marketing Innovation
  14. 14. InnovationinValueChain Conceptualisation World class manufacturing Thorough assessment of competitive trends Customer orientation Design Design studio Networking into the world of design Design software CAD/CAM European design ideas Continuous renewal of models Operations Short product realisation cycle times Rich styles Integrated manufacturing Innovative technologies High quality orientation Wide range Distribution Multi channel distribution Institutional sales Dealer training for attitudinal change Marketing & Sales Flagship showrooms Multi-brand showrooms Selling competitive products Rapid increase in reach by locating outlets in smaller towns Rapid brand extension Service Front service offers Spare parts warehouses Short service cycle time Intensive training for service excellence
  15. 15. What does all the innovation lead to?
  16. 16. Slim watch design Titan has claimed to have manufactured the world's slimmest wrist watch branded as Titan Edge with a total thickness of 3.5 mm and a movement of 1.15 mm.
  17. 17. Watches for specially-abled
  18. 18. Better finishes, materials, broader ranges, robust design
  19. 19. Better finishes, materials, broader ranges, robust design
  20. 20. Better finishes, materials, broader ranges, robust design
  21. 21. Brand Extension Titan started a strong Total Quality Management initiative encompassing to extend the excellence it had achieved in watches to other products of titan as well. Design Engineering Manufacturing Logistic and service support
  22. 22. Competition from lead competitor Minimum return during sale period Quality was central the High torque stepper motors Durable finishes using vacuum deposition Large range of styles in a short time frame Distinct in appearance & style Art and design studio was set up Help from European designer Art software & computer aided design Watches are elegant & rich in style Retail networking and richness of product Design Strategy Manufacturing Strategy +
  23. 23. ‘Telling the time’ product ‘Personal’ product Rock-solid vision Best staff-mix Thorough market analysis Right market segment
  24. 24. An organisation with: Design Manufacturing competence (Automation) Marketing competence Driven by: Futuristic mindset Contextual insight Business foresight Volume creation: When Titan entered the market, the share of analog watches was just 5% Target the high opportunity segment Position itself as a premium brand Roadmap BRAND CREATION Rock-solid vision Best staff-mix Thorough market analysis Right market segment Why do Indians prefer watches made abroad ? Nature of market Competitor offerings Analyse operation of competing brands Customer requirements Identification of major gaps: Styling, service Retail reach Showroom interiors Capability of franchisees Attitude of retailers towards customers Main weakness in the Indian market: No brand had a strong personality Started the company with a group of executives with rich but varied experiences: MD from Tata group Professional executives with extensive experience in watch manufacturing Executives with marketing experience specifically in retailing. Medium range market Large to handle High growth potential Quick segmentation ‘Doing it right the first time’: Usage of innovative advertising campaign to create & position the brand
  25. 25. Loyalty Attachment Sense of communication High Quality Trustworthy Superior Pride Status Social approval Reliable , sturdy Long lasting & durable Chronographs , alarms Stylish and trendy No. of models, colors Segmented approach Wrist watches Pocket watches Brand loyalty (What about you & me?) Brand response (What about you?) Brand meaning (What are you?) Brand identity (Who are you?) RESONANCE JUDGEMENT PERFORMANCE BRAND SALIENCE Brand Association
  26. 26. REASONS NO. OF RESPONDENTS Attractive Design Reasonable price Brand image Good quality 39 7 22 25 Reasons for Brand Loyalty
  27. 27. Types of media NO. OF RESPONDENTS TV Magazine Newspaper Hoarding 46 25 36 15 Advertising
  28. 28. Reaching the customers Speed and surprise are the crux of successful competitive strategy . -Art of War
  29. 29. Increased reach: Retailing 320 STORES 130 CITIES
  30. 30. Exclusive outlets in the best commercial locations in major cities as well as in smaller cities at a fast pace that no other competitor could match. First watch to open exclusive watch showrooms in India. Increased the number of showrooms, thereby expanding the reach. Increasing the coverage of retail outlets to reach as many as 6000 locations. This is about 10 times the number of outlets of the lead competitor. increase in reach = increase its volume. SHOWROOMS REACH PRODUCTDESIGN Titan reduced the time cycle, short cycle time helps in responding to changing customer needs and also helps in surprising competitors. Use of visualization, design automation, concurrent engineering and rapid test marketing.
  31. 31. Service excellence Sustainability of brand reputation comes from service excellence.
  32. 32. Titan started “Titan watch care centres” in major user areas. These exclusive front office service centres provide quality service with a very short response time. This again was an industry-first innovation achieved by Titan. 1Titan trained its service personnel to have a good attitude to customers when they come to its service centres, so that problems are handled in a customer friendly atmosphere. 2 3Titan started spare parts centres in major locations to improve parts logistics. The service attitude, the service focus and the service support became the basis of service excellence. This helped Titan to build up customer capital. Through service excellence, it targeted enhancement of customer loyalty leading to customer retention. Titan, thus, evolved a business model that others found difficult to replicate. Service Excellence
  33. 33. Service policy Repair the hurt feelings of the customer Repair the watch Repair the damage to TITAN reputation www.titancare.co.in Repair status Service news Service network information Service feedback Do’s, Don'ts, Tips Quality policy & Service offerings
  34. 34. Globalization : International reach 32 COUNTRIES 2000 stores ; 135 million customers became one of the first brands in the non- consumer goods segment from India to be sold in Middle East, East Asia as well as Europe.
  35. 35. * Regular interaction and systematic analysis of feedback * Training and skill development in cross-cultural marketing * Incremental approach supported by rapid learning and review * Rapid learning and rapid adaptation to changing requirements in new markets. * Continuous communication, dialogue-based goal setting & fear-free feedback. Globalization : Strategy Contemporary style + Excellent quality + affordable prices = Global Success Globalization : Strategizing
  36. 36. Thank You

×