Guess ? : Guess ? Titan Watches- Redefining Time : Titan Watches- Redefining Time Presented by
Md. Atif Farhan
Vaibhav Khante The Watch Industry : The Watch Industry 1950s 1950-70s 1970-80s 1980s-till date Indian Watch Industry : Indian Watch Industry 1960-Setting up HMT in collaboration with Japanese Citizen watch company.
1972- License to other companies e.g. Indo-Swiss, Bifora
1980- LED (Light Emitting Diode) watches gained in popularity & Swiss watch industry declined.
1982-Government approved indigenous watch manufacturer to set up establish capacities.
1990-91: Indian watch market size is increased from 16.9 million to 24 million watches.
1992- Recessionary pressure adversely affected the watch industry`s performance.
1999-Removed all quantitative restrictions on the import of fully assembled watches by WTO. About TITAN : About TITAN Titan Industries is the world's fifth largest and India's leading manufacturer of watches. It has several popular brands in its fold including Heritage, Aviator, Regalia, Octane and WWF
The Titan portfolio has over 60% share in the domestic market
Share in the organized watch market. To ensure a dominant presence in the market, the company has showrooms in every nook and corner of the country that caters to the needs of every segment of the people. Company History : Company History 1985 -The company was incorporated on 26th July at Chennai.
1992 -An MOU was signed with Casio computer company of Japan to manufacture 2million digital and Ana-digital watches.
1987 -The company set up a manufacturing facility at Hosur.
1989 -The case plant at Hosur was commissioned. A new range of watches called `Aqura' was launched
1992- Over 150 models were introduced.
1993- The name of the Company was changed with effect from 21st Sept. from Titan Watches, Ltd. to Titan Industries Ltd. Contd…. : Contd…. 1994- The Company introduced `Tanishq' range of watches.
1996- introduced new economy range of watches called Sonata and Tanishq's
2000-Titan Industries has announced the launch of Cyber, a range of digital clocks
2005-Titan re-introduces Fastrack range of watches. CORPORATE INFORMATION : CORPORATE INFORMATION 2002- Mr. Jeyakodi was appointed as a director of the company.
2003-Mr. Jacob Kurien tenders his resignation to the company.
2006-Mr. Harish Bhatt was being appointed as chief operating officer in watches and accessories division.
2007- Mr. Sunil Palliwal was inducted as additional director in the board of the company. 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
Performance culture and teamwork
Creativity and Innovation
Passion for excellence
Corporate Citizenship TITAN’S Businesses : TITAN’S Businesses Watches Jewellery Precision Engineering Currently
with a larger
footprint in the
Middle East and
regions Prescription Eyewear Strategies : Strategies Innovation
Cutting Edge Technology Innovation : Innovation Creation of Edge
Slimmest commercially available watch “in the universe”.(thickness: 3.5 mm)
Four years of intensive R&D.
Received Best Design Award in
Lifestyle Product Category
Organized by Business World. Quality : Quality Certified under ISO 9001 in Dec.’94
ISO 14000 certification in 2002
TS 16949 certification in Feb ‘05 Creative Advertising : Creative Advertising Aamir Effect
Created by TVC.
TVC introduced in Oct. 2004.
Sales soared exponentially.
Used effectively to merchandise new models.
Newspaper “Cuttings”. Retail Stores : Retail Stores ALL INDIA 10000
Towns World Of Titan 177
Towns Time Zones 119
Towns Service Centers 616
Towns 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. INTERNATIONAL BUSINESS : INTERNATIONAL BUSINESS One of India’s first companies to market a consumer brand overseas.
Now present in 26 countries outside India
Among the top 3 brands in some Asian countries
Selling 650k watches annually with increasing presence in jewellery.
Total export sales of over Rs 100 crores in 2006-07
Ranked No.3 amongst the top Life style Brands in the watches category by Business Today ( Oman) for the third year in a row THE THREE YEAR JOURNEY…INCOME : THE THREE YEAR JOURNEY…INCOME THE THREE YEAR JOURNEY… COMPANY PROFITABILITY : THE THREE YEAR JOURNEY… COMPANY PROFITABILITY THE THREE YEAR JOURNEY…CAPITAL EMPLOYED : THE THREE YEAR JOURNEY…CAPITAL EMPLOYED Market Capitalization (Rs. in Cr.) : Market Capitalization (Rs. in Cr.) Crossed Billion $ Major Competitors : Major Competitors External Marketing Environment : External Marketing Environment Competitive factors
Economic factors Slide 29: Michael Porter Model Competitive forces : Competitive forces Marketing Mix (4P`S) : Marketing Mix (4P`S) Product : Product Product type
Segmentation of TITAN Watch
Based on user category
Competitive prices Brand profile of TITAN : Brand profile of TITAN Edge
Titan Bandhan watches
xylus Product life cycle : Product life cycle Sales Time Introduction : WWF, Orion, Zoop, Diva, Octane Growth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc Maturity: Sonata, Fastrack, Dash Decline: Aqura Place : Place World of Titan Showrooms
Non Traditional Outlets Distribution channels : Distribution channels Slide 37: TITAN PRICING
Survival (i.e. Titan Exacta)
Market share (i.e. Titan Sonata)
Market skimming (i.e. Titan Nebula)
Product line pricing
Application of pricing strategy
1000 plus segment Slide 38: TITAN Citizen
Timex Watch Market Map Rs 500 1000 2000 4000 5000 30,000 + Formal / Classic Fashion/Sporty Sonata,
Maxima Espirit, Swatch Fossil
Giordano, DKNY, Carrera
Tommy Hilfiger Raymond Weil
Tissot Omega,Rado, Longines Tag Heuer Hugo Boss
C Dior Price Fastrack XYLYS 10000 Nebula Slide 39: PROMOTION:-
Titan brand ambassador:
Titan Brand: Aamir Khan
Sonata: Mahendra Singh Dhoni
Raga: Gul Panag, Rani Mukherjee
Xylys: Rahul Bose
Titan tagline: Be more
Fast track tagline: How many you have? Slide 40: Public relation
Promotion On Occasions
Promotion through Contests SWOT Analysis : SWOT Analysis STRENGTHS : STRENGTHS Watches as a fashion accessory
Quality or price positioning
Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders.
Customer value and offered after sales service in a showroom environment. WEAKNESSES : WEAKNESSES Main USP is low cost watch.
Lack of futuristic approach
Lack of flexible thinking OPPORTUNITIES : OPPORTUNITIES Nearly 34 million watches are sold through gray market channels.
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.
Rural market THREATS : THREATS Too many players will dilute the market & the profit margin
Low priced China watches
Mobile phones. Q: How does Titan plan to succeed in a market segment where bargain prices and cultural associations often outweigh brand cachet? : Q: How does Titan plan to succeed in a market segment where bargain prices and cultural associations often outweigh brand cachet? Slide 47: They have reason to be confident.
The Indian watch market is currently estimated to be around 42 million units, of which only 15 million units are from the organized-retail players
Titan leads the pack with a lion's share of around 11 million units across its watch portfolio of four brands: the flagship brand Titan (mid- and premium segments), Sonata (the budget segment), Fast Track (the youth segment) and Xylys (Titan's top-end, Swiss-manufactured brand).
"Super Fiber." range is priced below US$10.
A Cricket Connection-Mahendra Singh Dhoni hails from the small town of Ranchi. Conclusion : 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.