3,500 BCE SUNDIAL In China and Egypt FIRST WATCH In 1505, by German locksmith Peter Henlein Measuring Time WATCHES MARKETING MANAGEMENT PROJECT GROUP – 6 SONAM | NARAYAN |RAJ PUSHPLATA | JATIN IMNATILA | PALLAV |ANKITA About Titan 5th Largest Wrist Watch Titan Industries Ltd is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) Incorporated in the year 1984 Started international brands during the year 1997 In the watch segment is has brands like • Fastrack • Sonata • Nebula • Titan Raga • Octane • Zoop • Xylys –– a swiss made catering to premium segment of the market. Licence for marketing & distribution of Tommy Hilfiger and Hugo Boss watches. Revenue of ₹2,126 crore RESEARCH METHODOLGY ADOPTED ◦ SURVEY ◦ E-COMMERCE ANALYSIS ◦ FIELD VISIT TO DEALERS E-COMMERCE ANALYSIS TITAN FAST-TRACK TITAN RAGA SILVER/GOLD WATCHES Name: Titan Youth Analog Black Dial Women's Watch -NK2480SM02 Name: Titan Regalia Chronograph Analog Silver Dial Men's Watch NK9308BM01 Rating: 828 Price: 2495 Rating:479 Price:8995 Name: Fastrack Casual (Watch-NK3120SL01) Name: Fastrack Party Analog Silver Dial Men's Watch NK1474SM01 Rating:1131 Price:1160 Rating:884 Price:2555 Name: Titan Raga Gold/Silver Metal Quartz Glass, Analog Wrist Watch Name: Titan Raga Analog White Dial Women's Watch NE2370YM03 Rating:509 Price: 3495 Rating:124 Price:2795 CONSUMER TRENDS Political Factors Technological Factors Environmental Factors • Increased custom duties on imported watches • Trade wars led to changes in price of gold and silver • Smartwatch trend • Manage retail store’s data using an IoT platform • Clean and green technology and promotes ‘reduce, reuse, recycle’ • 100% recycle of trade effluence. Economic Factors • Fall in prices of gold • Interest rates and loan repayment capacity of consumer determines the purchasing power of consumers. PESTEL ANALYSIS Social Factors Legal Factors • Evolved with changing trends in the watch market. • To accommodate the youth, new brands were launched, which to date have very little competition e.g. Fasttrack. • To accommodate the premium customers, titan raga was introduced. • IP laws and data protection laws • Labour laws and minimum wage laws • Company’s policy of ethical conduct COMPETITOR ANALYSIS Segment Premium segment Middle income group Lower end market segment Connoisseur Product Nebula Competitors Omega, Rolex, Hubolt Super premium Raga Citizen, Fossil, Hubolt Premium Octane Casio, Citizen, Fossil Popular Fastrack Swatch, Casio, Mass Sonata Timex, Maxima Competitors behaviour Rolex: perfect amalgamation of class, elegance perfection and serenity but unaffordable for majority of the population Omega: Unique technology used in manufacturing innovative designs, capable of working in zero gravity Hobult: Uses combinations of unusual materials(eg magic gold, alloy of gold and ceramic) Titan watches in general give more royal and classy look. Casio: mostly focused in watches for male segment unlike Raga for females High incorporation of technological advancement. Eg(GStock Bluetooth in Casio enables the watches to connect with smartphones) Fossil: have speciality in chronography Parts of the titan watches are mostly imported making it costlier Other competitive brands give more funky look Casio, Citizen make their own watches from scratch Various innovative designs and attractive products at same price range Water resistance as an additional feature being offered which is not present in the portfolio of Titan Maxima: Special couple collection by maxima Titan watches are less affordable by the 40% of the population( rural areas) unlike Timex and Maxima MARKET SEGMENT Titan has 60-65% market share in wrist watch segment User • Children (The dash) • Sportspersons & Adventure (Fast-track) Techno-geek Value for Money (Swiss watches) Luxury Men Segment Dress Wear (Nebula & Regalia) BRAND POSITIONING BRAND POSITIONING(CONTINUE) PRODUCT LINE ANALYSIS MASS Zoop - NDC3025PP14C Sonata - NJ8989PP04C POPULAR PREMIUM SUPER PREMIUM Fast track - NJ3114PP01C Fast trackNK3120SL01 Fastrack All Nighters Sonata - NJ7987SM04W Titan Analog Gold Dial Women's Watch Titan Octane CONNOISSEUR Titan Raga Cocktails Nebula DISTRIBUTION CHANNEL Titan portfolio owns around 60% of the domestic market share in the organized market for watches Titan has an intensive distribution channel 1) Online - Titan E-store and various other ecommerce sites like Amazon, Flipkart etc. 2) Offline - 129 distributers handling over 14,000 dealers across 2300 towns in India 7 different channels: 1. Time Zone 2. World of Titan 3. Value Marts 4. Sonata stores 5. Titan Signet club 6. Tanishq boutiques 7. Private multibrand outlets 247 exclusive showrooms-World of Titan 700 after-sales-service centers Advantages: • Wide range coverage • Covers different price points and target segments of customers • Huge sales volume while protecting brand image PROMOTION MIX ADVERTISEMENT ◦ “Mom by choice” add for TITAN-RAGA ◦ Other adds: “Break the Bias” “Art of Ceramic” “The Titan Man” “Titan Proposal” “The Joy of Gifting” PROMOTION MIX(Continue) SALES AND PROMOTION ◦ Discount offers to make high end products seem little cheap. ◦ Warranty provided on products. ◦ 20% discount provided during wedding season ◦ Provide Some Free accessories and provides exchange offers too ONLINE SELLING ◦ Available on various platforms like: Flipkart, Amazon ◦ Titan Website www.titan.co.in #ThisDiwaliGift IMC STRATEGY SOCIAL MEDIA MARKETING ◦ 15 Lakh fans on Facebook ◦ Presence on twitter @titanbemore ◦ Presence on Instagram #titanwatchesindia PRICING STRATEGY PRICE RANGE TYPE RANGE Mass 350-600 Premium 900-1500 Popular 600-900 Super Premium 1500-8000 Connoisseur > 8000 PRICING METHOD: Mark-up pricing Value pricing Perceived value pricing Product line Pricing Promotional Pricing PRICING OBJECTIVE: Survival (Titan Exacta) Price as an main source for covering cost of production, pay expenses Market share (Titan sonata) Maximum selling and covering market Market skimming (Titan Nebula) Gold watches Rs 20200-Rs3.55lacks Product quality Titan pricing according to quality products THANK YOU!
