TIMEXVS

TITAN

NIKITA MAJI- 8025PARUL – 8018SHAGUN – 8025URVASHI - 8013

OBJECTIVES

MARKETING STRATEGIES BY DIFFERENT WATCH BRANDS IN INDIA.

TITAN OR TIMEX? WHOSE CAPTURING A GREATER MARKET SHARE.

INDIVIDUAL STRATEGIES. WHAT ARE THE CONSEQUENCES? RECOMMEMDATIONS FOR THE

COMPANY HAVING LOW MARKET SHARE.

TITAN BE MORE

ABOUT TITAN

One of the giant gods in Greek mythology who preceded the Olympian gods.

The largest moon of the planet Saturn.

World's fifth largest and India's leading manufacturer of watches.

The Titan portfolio has over 60% share in the domestic market share.

The company has showrooms in every nook and corner of the country that caters to the needs of every segment of the people.

TITAN

FOUNDED IN: 1987 HEADQUARTERS: India AREA SERVED: 4 continent and 32 countries

India and other countries esp. Middle east, Asia Pacific and Africa

Has Customer base of over 80 million. INDUSTRY: Watches PRODUCTS: Watches, Jewellery, Eyewear &

Precision Engineering EMPLOYEES: 3,000 PARENT COMPANY: TATA

AWARDS ACHIEVEDThe company has been awarded the following distinctions:

No.1 Brand in the Consumer Durables category in the "Brand Equity" Survey of The Economic Times

Won the Young Design Entrepreneur of the Year at the National Institute of Design and Business World

Retail Asia and Media Magazine – Singapore adjudged Titan Industries as amongst the leading Retailing Companies in India.

Titan has won the Brand Leadership award at the India Brand Summit.

The Time Products Division of the company was awarded the JRD QV Award in 2006.

Vision To be a world-class, innovative and

progressive organization and to build India’s most desirable brands.     

Mission

To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach, and to contribute to the community.

Values and Standards

Total customer orientation Employee appreciation Performance culture and teamwork Creativity and Innovation  Passion for excellence       Corporate Citizenship

TITAN’S BUSINESSESWatches

Jewellery

Precision Engineering

Prescription Eyewear

Strategies

Innovation Quality Creative Advertising

Aamir Effect‘Catalogue’ Advertising

Retail Stores Cutting Edge Technology

Cutting Edge Technology The Design Studio:

– Excellent Watch and Jewellery design.– Has international award winning designs to its credit.

Sophisticated Design & Development Centre – Advanced Pro-E workstations and prototyping facility.

Every Ford Mondeo car rolling out of the plant in Genk, Belgium has a Titan Clock.

BRAND POSITIONING STRATEGIES

Attribute Positioning:

First to bring Quartz watches to the Indian market. This helped to penetrate the market and gain a market share. Raga, Classique and Regalia

Benefit Positioning:

The Fastrack Digital range offers the customer a functional watch that is attractive and has superior style.

Competitor Positioning:

With the entry of Omega, Tissot etc into the market who are catering to the upper end of the market titan has tried to reposition itself by increasing the price range.

Quality or Price Positioning:

In Indian market, Sonata is a perfect example of Price positioning, titan came up with this segment when it was facing heavy competition.

BRAND AMBASSADOR

Retail Stores

Of titan

ALL INDIA10000

Dealers2300

Towns

World Of Titan177

Showrooms104

Towns

Service Centers616

Centers

314Towns

Market Capitalization (Rs. in Cr.)

218500

1018

3530

4400 5300

0

1000

2000

3000

4000

5000

2002-03

2003-04

2004-05

2005-06

2006-07

May-08

Market Cap.

Crossed

Billion $

MAJOR COMPETITORS Domestic Level- HMT

Maxima-quartz

Casio

International level- Espirit

Swatch

Citizen

Tag Heuer

Seiko

Cartier

Marketing Mix (4P’S)

PRODUCTEdge RagaOctan ZoopWWF HeritageOrion NebulaSonata ExactaSpectra DashRegalia FastrackRoyale ClassiqueXylus Eye +Titan Bandhan watches

It also markets Tommy Hilfiger watches under a licensing arrangement

Jewellery : Tanishq is India's largest and fastest growing jewellery brand with a premium range of gold jewellery studded with diamonds or coloured gems. In India it has 102 boutiques across the country.

· Eye wear : Titan Eye+ produces sunglasses under Fastrack brand and prescription eyewear consisting of Frames, Lenses, Sunglasses, Accessories and Contact Lenses.

PLACE

World of Titan Showrooms Time Zone Traditional Outlets Non Traditional Outlets

Distribution channels

PRICINGPricing Objectives

1. Survival (i.e. Titan Exacta)

2. Market share (i.e. Titan Sonata)

3. Market skimming (i.e. Titan Nebula)

4. Product quality

• Pricing method

1. Product line pricing

2. Promotional pricing

• Application of pricing strategy

1. Lower segment

2. 1000 plus segment

PRICERaga Diva- Rs 4000-9500Zoop- Rs 5200- 6000Nebula- Rs 26000- 85000Octane- Rs 5250- 7000Orion- Rs 3200- 7500Fastrack- Rs 500-4500

PROMOTION1. Advertising2. Sales promotion3. Public relation

• Titan brand ambassador:• Titan Brand: Aamir Khan • Sonata: Mahendra Singh Dhoni• Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose Fastrack: John Abraham

Titan tagline: Be more

Fast track tagline: How many you have?

Public relation

•Gift concept

•Promotion On Occasions

Advertising media:• Television• Print• Internet

Sales promotion

•Sponsorship

•Seasonality

•Promotion through Contests

SWOT AnalysisSTRENGTHS

Brand image and parent company is Tata group

Market segments with large potential: women, youth, children, sportsmen, the budget- conscious , the big spenders.

Customer value and offered after sales service in a showroom environment

World’s 5th largest watch manufacturers

Popular brand ambassdors

WEAKNESSES

High price for jewelley

Lack of scope in entering south indian market

Service centres are rare

Less number of low priced products

OPPORTUNITIES

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. Exchanging offer Rural market Continous innovation different festive occasions

THREATS

Too many players will dilute the market & the profit marginLow priced China watchesMobile phones.Government rules and regulations

Segmentation of Indian Watch industry

Based on price· Mass (Rs.350-600),· Popular (Rs.600-900),· Premium (Rs.900-1500),· Super-premium (Rs.1500-8000)· Connoisseur segments (above Rs.8000)

Based on user category· Men’s watches· Women’s watches· Youth watches· Kids watches· Sports watches

POSITIONING

Titan has been positioned as a premium brand, providing high quality products

Titan initially pioneered the concept of "Gifting watches".

Customers who were fed up with ugly time machines welcomed the brand Titan.

Re- Positioning as a fashion accessory.

Watches were perceived as a onetime buy and consumers seldom owned multiple watches.

Titan pushed the concept of "Matching Watches to Clothes" in the recent commercials.

PRODUCT LIFE CYCLE Sale

s

TimeIntroduction : WWF, Orion, Zoop, Diva, OctaneGrowth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc

Maturity: Sonata, Fastrack, Dash

Decline: Aqura

Market Share of Key Players

COMPETITIVE FORCES

Michael Porter Model

JOINT VENTURE WITH TIMEX

TITAN HAD A 5 YEAR COLLABRATION WITH TIMEX.

BOTH THE COMPANY MERGED TO GRAB A BETTER MARKET SHARE.

AFTER ACHIEVING THEIR RESPECTIVE POSITIONS THEY DECIDED TO PART AWAY.

THEIR DEAL ENDED ON 23RD DECEMBER 1997.

TITAN IS NOW WORKING AT A HIGHER POISITION AFTER THE SPILT UP BUT ITS STILL SEEN THAT TIMEX WAS WORKING UNDER THE NAME OF TITAN.

timex Since 1854

TIMEX

Timex began life in 1857 as the Waterbury Clock Company, specializing ingrandfather clocks.

The company's highly developed R&D and its knowledge of massproduction techniques led to the creation of the world's first personal watch - theTimex.

Today Timex Corporation employs over 7,500 people across four continents

TIMEX WORLD

In market since 150 years

Ranked No. 1 in U.S.A in 2001

Largest selling brand in U.S.A & Canada

Focus- Quartz based wrist watches in India.

Lowest cost watch manufacturer in the world.

TIMEX Mission Statement

Bringing innovation and reliability to a broad consumer base.

Timex is committed to staying relevant to today’s changing consumer and lifestyle needs by:

Creative,technologically advanced product designIncorporating an accessories focus in our approachBridging active and healthy lifestyle needsBringing technology closer to the sports consumer

SEGMENTATION

o YOUTH

o KIDS

o HIGH END

o FASHION

o SPORTS

TIMEX PRODUCTS

PRICE

Timex Chronographs T27601 Rs. 5,595 Timex Formals A047 Rs. 835 Timex Formals LX00 Rs.1485 Timex watch EJ04 Retro Range Rs.400 Timex Steel UT09 Rs.1345

PROMOTIONTimex -The Official Timekeeper India Open2006

Timex amongst Top 50 power brands in the US.

Timex introduces special offer this Valentines for Cupid Struck hearts

TIMEX Brand Ambassador Brett Lee unveils the "new look" TIMEX in 2009

Timex is the official licensors of the ICC cricket world cup in India in 2011.

PLACE

Traditional Outlets (only 6)

THE TIME WALK

Non Traditional Outlets

20 service centers in India

TIMEX GLOBAL MARKETING

Keep on Dashing. Keep on Pushing. Keep on Daring. These messages are designed to keep Timex on the minds of consumers. The visual style is hip, contemporary, fresh and universal. Leaving little doubt that Timex is an up-to-date, 153 year old company.

LOOKING TO THE FUTURE

The Nail Watch known as the TX54.

The nail watch is designed to be hooked to the thumbnail.

The user will be able view the time in the dark just by pressing the tip of the nail

it’s waterproof as well

ERRORSJoint Venture with titan

No differentiated marketing strategy for India

Name of the showroom

Comparison - Titan and Timex Celebrity Price Distribution channel Advertisements Parent company Matching watches to clothes vs. sports

watch Large product line R & D

RECCOMENDATIONS PRODUCT Should make more designs trendy watches for the gen x

More variety for girls’ watches.

Should launch a different product line E.g.. Eye wear, bags, laptops.

Better CRM-increase in consumer affluence

Attractive packaging

PROMOTION Using Indian celebrities in the ads which focus on Indian context like festivals.

Funny or impressive punch line.

Special offers.

Colorful banners.

RECCOMENDATIONS o PRICE

youth watches between Rs.500-1800

sports watch- Rs1200-6000

men’s and women’s collection- Rs800-6200

PLACE Increase the number of Exclusive outlets

Name the showroom under the name of TIMEX

THANK YOU