30475340-Titan-vs-Timex

PowerPoint Presentation: 

TIMEX VS TITAN NIKITA MAJI- 8025 PARUL – 8018 SHAGUN – 8025 URVASHI - 8013

OBJECTIVES: 

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.

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TITAN BE MORE

About TITAN : 

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: 

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

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AWARDS ACHIEVED The 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: 

Vision To be a world-class, innovative and progressive organization and to build India’s most desirable brands.

Mission: 

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 : 

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

TITAN’S Businesses: 

TITAN’S Businesses Watches Jewellery Precision Engineering Prescription Eyewear

Strategies: 

Strategies Innovation Quality Creative Advertising Aamir Effect ‘Catalogue’ Advertising Retail Stores Cutting Edge Technology

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: 

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: 

BRAND AMBASSADOR

Retail Stores : 

Retail Stores Of titan ALL INDIA 10000 Dealers 2300 Towns World Of Titan 177 Showrooms 104 Towns Service Centers 616 Centers 314 Towns

Market Capitalization (Rs. in Cr.): 

Market Capitalization (Rs. in Cr.) Crossed Billion $

Major Competitors: 

Major Competitors Domestic Level- HMT Maxima-quartz Casio International level- Espirit Swatch Citizen Tag Heuer Seiko Cartier

Marketing Mix (4P’S): 

Marketing Mix (4P’S)

product: 

product Edge Raga Octan Zoop WWF Heritage Orion Nebula Sonata Exacta Spectra Dash Regalia Fastrack Royale Classique Xylus Eye + Titan Bandhan watches It also markets Tommy Hilfiger watches under a licensing arrangement

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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: 

Place World of Titan Showrooms Time Zone Traditional Outlets Non Traditional Outlets

Distribution channels: 

Distribution channels

PRICING: 

PRICING Pricing Objectives Survival (i.e. Titan Exacta) Market share (i.e. Titan Sonata) Market skimming (i.e. Titan Nebula) Product quality Pricing method Product line pricing Promotional pricing Application of pricing strategy Lower segment 1000 plus segment PRICE Raga Diva- Rs 4000-9500 Zoop - Rs 5200- 6000 Nebula- Rs 26000- 85000 Octane- Rs 5250- 7000 Orion- Rs 3200- 7500 Fastrack- Rs 500-4500

PROMOTION: 

PROMOTION Advertising Sales promotion 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

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SWOT Analysis STRENGTHS 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 5 th 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

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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 margin Low priced China watches Mobile phones. Government rules and regulations

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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

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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.

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Product life cycle Introduction Growth Maturity Decline Sales Time Introduction : WWF, Orion, Zoop, Diva, Octane Growth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc Maturity: Sonata, Fastrack, Dash Decline: Aqura

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Market Share of Key Players

Competitive forces : 

Competitive forces Michael Porter Model

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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 23 RD 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.

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timex Since 1854

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TIMEX Timex began life in 1857 as the Waterbury Clock Company, specializing in grandfather clocks. The company's highly developed R&D and its knowledge of mass production techniques led to the creation of the world's first personal watch - the Timex. Today Timex Corporation employs over 7,500 people across four continents

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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.

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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 design Incorporating an accessories focus in our approach Bridging active and healthy lifestyle needs Bringing technology closer to the sports consumer

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SEGMENTATION YOUTH KIDS HIGH END FASHION SPORTS

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TIMEX PRODUCTS

PRICE : 

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

PROMOTION: 

PROMOTION Timex -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: 

PLACE Traditional Outlets (only 6) THE TIME WALK Non Traditional Outlets 20 service centers in India

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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 : 

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

errors: 

errors Joint Venture with titan No differentiated marketing strategy for India Name of the showroom

Comparison - Titan and Timex: 

Comparison - Titan and Timex Celebrity Price Distribution channel Advertisements Parent company Matching watches to clothes vs. sports watch Large product line R & D

RECCOMENDATIONS: 

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 : 

RECCOMENDATIONS 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

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THANK YOU