Description
The ppt highlights 4ps and STP of Titan. It also explains repositioning strategies of Titan.
TITAN – S.T.P
INDUSTRY OVERVIEW
? A joint venture between the Tata group and the Tamil Nadu ? ?
?
?
Industrial Development Corporation. Launched in 1984. Titan is today world?s sixth largest, integrated watch manufacturer and India?s largest. 4 factories - main watch and jewellery plants in Hosur near Bangalore (India?s „Silicon valley?), Watch Assembly plants at Dehradun and in Himachal Pradesh, with an ECB plant in Goa. Investment of over US$130 million. A 450,000 sq.ft. stateof-the-art facility.
•
Leader in the watch and jewellery businesses in India •First and largest branded player in the jewellery (Tanishq) •>50% share of the organized watch market •Over 60 million watches sold across 30 countries
• • •
Brands offered: Steel, Edge, Raga, Sonata, Fast track, Regalia, Bandhan, Sonata, Nebula, Flip Recently Titan has taken a drive to improve its image as a maker of contemporary style and design in wrist watches Titan is trying to offer international quality/style at an affordable price
The Emerging Trends
TITAN BRAND
? One of Giant God in Greek mythology who
preceeded
the
Olympian
God.
? Established in 1984 as joint venture between TATA
group and Tamilnadu industrial development corporation.
Major Players
• HMT Watches Ltd.- (34%) • Titan Industries Ltd. – (39%) • Timex Watches Ltd. – (23%)
4 P’s OF TITAN
? PRODUCT ? PLACE ? PRICE ? PROMOTION
PRODUCT
? Insignia • Made with
high-grade anti-allergenic steel, scratch-resistant sapphire crystal and special hard gold plating ? Psi2000, Technology • Sports & Multi-functional watches ? Regalia, Royale • Magic in gold and unique futuristic material ? Classique • Elegant corporate wear
? Spectra •Combines the sturdiness of steel with the richness of gold ? Exacta •The “Everyday Watch” ? Raga •Exclusive watches for women ? Fastrack •Contemporary styles for the young ? Dash! •For young boys and girls ? Bandhan •Watches for him and her
Titan Industries Ltd. – Strategies
? Early to manufacture watches targeted at US and
European markets • The “Insignia Collection” • Also makes watches for international labels ? Roping in the crème of designers • Pierre Ludwig (Cartier) • Francis Humbertdiz (Omega) ? Diversification into jewellery – Tanishq ? Very wide range of products in terms of looks, function and price points
PLACE
? The
world of titan 247 as direct dealer zone and non traditional zones
? Time
Titan Industries Ltd. – Distribution
? Manufacturer – Retailer – Customer ? First to go for exclusive showrooms
• Did away with retailers
• Wholeseller?s importance reduced ? Set up a chain of service centres, with close proximity to the
marketplace ? Innovative planning of showrooms • Watch buying a pleasurable experience ? Extensive use of C&F agents to reduce distribution costs
PRICE
o Mass
o Popular
o Premium o Super premium
o Connoisseur segment
350-600 600 -900 900-1500 1500-8000 8000-150000
PROMOTION
? Aamir khan as a brand ambassador.
? Mahendra Singh Dhoni for sonata.
? Rani Mukherjee for raga. ? Festive offers.
? Creative advertisement.
Titan Industries Ltd. – Advertising
? Targeted the typically price sensitive yet discerning
Indian customer • “International watch you can pay for in rupees” • “You don?t need to pay in dollars, pounds or dirhams to buy a Titan watch” ? Targeted the premium segment of “look and fashion conscious” customers • “To find watches like these you don?t have to go to Europe, Japan, America or a duty free shop” ? Promoted the concept of a watch being the ideal gift • “Next time your husband wants to buy you a saree, ask for a Titan watch instead
SEGMENTATION
Titan arrives in three broad Segmentes :? The rich
-Aurum, Royale. ? The middle -Exacta, Raga. ? The lower -Timex, Sonata, Dash.
POSITIONING
• Titan is positioned as a premium brand providing • • • • •
high quality products. Titan initially pioneered as gifting watches. Customer woofed up with ugly time machine welcomed the brand titan . Repositioning as a fashion accessory. Titan was careful in keeping the brand above celebrity. The advertisement were fresh and neatly executed
• The ideas was to make watches that would be seen • • • • • •
as style & fashion accessories Aamir as a brand ambassador as an attempt to broad base the appeal of titan brand. Earlier fast track was targeted at 20-25 year old and positioning doing the line. “cool watches from Titan” Based on this insight the co. relaunch lowering target segment to 18-30 yearwith tag. “how many have”
Reason For Decline
? ?
Sale are decreasing due to other international brand enter into market. People feel it is very conservative brand.
Repositioning strategies
• Communication - tagline
• TV commercial
• Bill board • Brand ambassador- Aamir khan.
• Increase penetration in tier 3 cities.
• Retaining existing customers. • Increase service centers.
Strategy follow to grow in future
1. 2. 3.
4.
5. 6. 7.
Improved feedback system online/offline. Trade fair – front line executive meet with customer. Increase availability of economic range of sub hand watches to selective value chain. Control over working capital- material usage & store operation cost. High level control on over marketing & advertising. Titan stores have go for lifecycle product at their store i.e wallet, perfumes, music collections Control over high % dividend payout to shareholder.
REFERENCES
?http://www.indiainfoline.com
?http://www.titanworld.com ?http://www.timex.com
doc_179560395.pptx
The ppt highlights 4ps and STP of Titan. It also explains repositioning strategies of Titan.
TITAN – S.T.P
INDUSTRY OVERVIEW
? A joint venture between the Tata group and the Tamil Nadu ? ?
?
?
Industrial Development Corporation. Launched in 1984. Titan is today world?s sixth largest, integrated watch manufacturer and India?s largest. 4 factories - main watch and jewellery plants in Hosur near Bangalore (India?s „Silicon valley?), Watch Assembly plants at Dehradun and in Himachal Pradesh, with an ECB plant in Goa. Investment of over US$130 million. A 450,000 sq.ft. stateof-the-art facility.
•
Leader in the watch and jewellery businesses in India •First and largest branded player in the jewellery (Tanishq) •>50% share of the organized watch market •Over 60 million watches sold across 30 countries
• • •
Brands offered: Steel, Edge, Raga, Sonata, Fast track, Regalia, Bandhan, Sonata, Nebula, Flip Recently Titan has taken a drive to improve its image as a maker of contemporary style and design in wrist watches Titan is trying to offer international quality/style at an affordable price
The Emerging Trends
TITAN BRAND
? One of Giant God in Greek mythology who
preceeded
the
Olympian
God.
? Established in 1984 as joint venture between TATA
group and Tamilnadu industrial development corporation.
Major Players
• HMT Watches Ltd.- (34%) • Titan Industries Ltd. – (39%) • Timex Watches Ltd. – (23%)
4 P’s OF TITAN
? PRODUCT ? PLACE ? PRICE ? PROMOTION
PRODUCT
? Insignia • Made with
high-grade anti-allergenic steel, scratch-resistant sapphire crystal and special hard gold plating ? Psi2000, Technology • Sports & Multi-functional watches ? Regalia, Royale • Magic in gold and unique futuristic material ? Classique • Elegant corporate wear
? Spectra •Combines the sturdiness of steel with the richness of gold ? Exacta •The “Everyday Watch” ? Raga •Exclusive watches for women ? Fastrack •Contemporary styles for the young ? Dash! •For young boys and girls ? Bandhan •Watches for him and her
Titan Industries Ltd. – Strategies
? Early to manufacture watches targeted at US and
European markets • The “Insignia Collection” • Also makes watches for international labels ? Roping in the crème of designers • Pierre Ludwig (Cartier) • Francis Humbertdiz (Omega) ? Diversification into jewellery – Tanishq ? Very wide range of products in terms of looks, function and price points
PLACE
? The
world of titan 247 as direct dealer zone and non traditional zones
? Time
Titan Industries Ltd. – Distribution
? Manufacturer – Retailer – Customer ? First to go for exclusive showrooms
• Did away with retailers
• Wholeseller?s importance reduced ? Set up a chain of service centres, with close proximity to the
marketplace ? Innovative planning of showrooms • Watch buying a pleasurable experience ? Extensive use of C&F agents to reduce distribution costs
PRICE
o Mass
o Popular
o Premium o Super premium
o Connoisseur segment
350-600 600 -900 900-1500 1500-8000 8000-150000
PROMOTION
? Aamir khan as a brand ambassador.
? Mahendra Singh Dhoni for sonata.
? Rani Mukherjee for raga. ? Festive offers.
? Creative advertisement.
Titan Industries Ltd. – Advertising
? Targeted the typically price sensitive yet discerning
Indian customer • “International watch you can pay for in rupees” • “You don?t need to pay in dollars, pounds or dirhams to buy a Titan watch” ? Targeted the premium segment of “look and fashion conscious” customers • “To find watches like these you don?t have to go to Europe, Japan, America or a duty free shop” ? Promoted the concept of a watch being the ideal gift • “Next time your husband wants to buy you a saree, ask for a Titan watch instead
SEGMENTATION
Titan arrives in three broad Segmentes :? The rich
-Aurum, Royale. ? The middle -Exacta, Raga. ? The lower -Timex, Sonata, Dash.
POSITIONING
• Titan is positioned as a premium brand providing • • • • •
high quality products. Titan initially pioneered as gifting watches. Customer woofed up with ugly time machine welcomed the brand titan . Repositioning as a fashion accessory. Titan was careful in keeping the brand above celebrity. The advertisement were fresh and neatly executed
• The ideas was to make watches that would be seen • • • • • •
as style & fashion accessories Aamir as a brand ambassador as an attempt to broad base the appeal of titan brand. Earlier fast track was targeted at 20-25 year old and positioning doing the line. “cool watches from Titan” Based on this insight the co. relaunch lowering target segment to 18-30 yearwith tag. “how many have”
Reason For Decline
? ?
Sale are decreasing due to other international brand enter into market. People feel it is very conservative brand.
Repositioning strategies
• Communication - tagline
• TV commercial
• Bill board • Brand ambassador- Aamir khan.
• Increase penetration in tier 3 cities.
• Retaining existing customers. • Increase service centers.
Strategy follow to grow in future
1. 2. 3.
4.
5. 6. 7.
Improved feedback system online/offline. Trade fair – front line executive meet with customer. Increase availability of economic range of sub hand watches to selective value chain. Control over working capital- material usage & store operation cost. High level control on over marketing & advertising. Titan stores have go for lifecycle product at their store i.e wallet, perfumes, music collections Control over high % dividend payout to shareholder.
REFERENCES
?http://www.indiainfoline.com
?http://www.titanworld.com ?http://www.timex.com
doc_179560395.pptx