SlideShare ist ein Scribd-Unternehmen logo
1 von 33
Downloaden Sie, um offline zu lesen
A brand innovation case study
Why study Titan
watches ?
Use of innovation
Broadest
range of
watches
Brand leader in the
country of its origin
Only branded
watch company to
originate from a
newly
industrializing
country
Became the best
brand in a short
time
Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
WHO?WHEN?WHAT?
Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
• Established in 1987
• Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team.
• Third Indian watch manufacturer after HMT and Allwyn.
WHO?WHEN?WHAT?
Introduction : History
• World's fifth largest wrist watch manufacturer.
• Designer and manufacturer of India's largest and best-known range of personal accessories
• Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation.
• Indian designer and manufacturer of watches, jewellery and other accessories including
sunglasses, wallets, bags and belt.
• Precision engineering is another area of specialisation.
• Established in 1987
• Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team.
• Third Indian watch manufacturer after HMT and Allwyn.
WHO?WHEN?WHAT?
Today, Titan watches account for more than 60%
share of the total Indian Watch Market.
Sold in about 32 countries through marketing
subsidiaries based in London, Aden, Dubai and
Singapore.
Titan offers various brands including
Steel, Regalia, Raga, Nebula, Sonata, Fastrack, Zoop,
Orion, Purple, Obaku, Automatic, Tycoon, Bandhan,
Octane and the HTSE series.
Introduction : History
Evolution of Titan
1984
+
• Joint venture
• Electronic watches
• 150 designs
1986
+
Digital & ana-digital
watches
1989
‘Aqura’ range of
watches launched
• ‘Aqura’ sold
to Timex
• Consultancy services
• Marketing strategy
outsourced
1991 1992
• ‘Raga’ range of
watches launched.
• “Spectra” range
reintroduced
1994
• ‘Tanishq’ range of
watches launched
• ‘Insignia’ launched
in India
1995
+
‘Sonata’ range of
watches launched
1996
Timeline
‘Dash’ range of
watches launched
2001 2000
• ‘Cyber’ range of
watches launched
• ‘Titan-Fastrack’
launched
• ‘Baarah nai toh
tera ampaign with
pizza hut
• ‘Classique’ collection
launched
2004
‘Crown’ range of
watches launched
‘Vizag’ range of
watches launched
20052006
‘Xylys’ range of
watches launched
2013
‘Edge’ and Braille
watches launched
‘Octane’, ‘Obaku’,
‘Automatic’, ‘Purple’
range of watches
launched
Innovation
strategies should lead to inimitability of strategic options
that come from certain tacit knowledge elements or
embedded organizational processes
1
Strategic options an innovation provides
should lead to sustainable competitive
advantage.
Innovation should enable a firm to retain
superiority in the market place.2Strategic innovation should allow a firm to
pursue strategic options without loosing its
flexibility.
3
Options pursued should lead to durable
benefits4
5
Technological
Innovation
Increased reach: Retailing
Cycle time reduction
Continuous feedback
Constant review
Multi-brand outlets
Service excellence
Slim watches
Watches for disabled
Better finishes of watches
Designing watches through visualisation
Broader ranges of watches
Robust design of watches
Organisational
Innovation
+
Innovation
Agility and
openness to change
Product richness
Alliance relationships,
cross-functional teaming
and design automation
innovative approach to extend the reach to all major
customer centers through the ‘watch supermarket’
concept.
Superior brand reputation
Global brand
World–class manufacturing
New image driven by innovation
High torque stepper motors for high reliability
Vapour deposition technology for appearance parts
Cycle time reduction through concurrent engineering
World’s thinnest watch movement
Concept marketing instead of product marketing
Brand image building in Europe
Brand leveraging in other personal product segments
Global procurement
Total Quality management at the suppliers end
Training new & young staff to have a new corporate culture
Cross cultural marketing
Innovation
InnovationinValueChain Conceptualisation
World class manufacturing
Thorough assessment of
competitive trends
Customer orientation
Design
Design studio
Networking into the world
of design
Design software CAD/CAM
European design ideas
Continuous renewal of
models
Operations
Short product realisation
cycle times
Rich styles
Integrated manufacturing
Innovative technologies
High quality orientation
Wide range
Distribution
Multi channel distribution
Institutional sales
Dealer training for
attitudinal change
Marketing & Sales
Flagship showrooms
Multi-brand showrooms
Selling competitive
products
Rapid increase in reach by
locating outlets in smaller
towns
Rapid brand extension
Service
Front service offers
Spare parts warehouses
Short service cycle time
Intensive training for
service excellence
What does all the innovation lead to?
Titan watches: A brand innovation case study
Slim watch design
Titan has claimed to have manufactured the world's slimmest wrist watch branded as
Titan Edge with a total thickness of 3.5 mm and a movement of 1.15 mm.
Watches for specially-abled
Better finishes, materials, broader ranges, robust design
Better finishes, materials, broader ranges, robust design
Better finishes, materials, broader ranges, robust design
Competition from lead competitor
Minimum return during sale period
Quality: Central focus
High torque stepper motors
Durable finishes using vacuum deposition
Large range of styles in a short time frame
Distinct in appearance & style
Art and design studio was set up
Help from European designer
Art software & computer aided design
Watches are elegant & rich in style
Retail networking and richness of product
Design
Strategy
Manufacturing
Strategy
+
Titan watches: A brand innovation case study
‘Telling the time’ product
‘Personal’ product
Rock-solid vision
Best staff-mix
Thorough market
analysis
Right market
segment
An organisation with:
Design
Manufacturing competence
(Automation)
Marketing competence
Driven by:
Futuristic mindset
Contextual insight
Business foresight
Volume creation:
When Titan entered the
market, the share of analog
watches was just 5%
Target the high opportunity
segment
Position itself as a premium brand
Roadmap
BRAND
CREATION
Rock-solid vision Best staff-mix
Thorough market analysis Right market segment
Why do Indians prefer watches made abroad ?
Nature of market
Competitor offerings
Analyse operation of competing brands
Customer requirements
Identification of major gaps:
Styling, service
Retail reach
Showroom interiors
Capability of franchisees
Attitude of retailers towards customers
Main weakness in the Indian market: No brand had a strong
personality
Started the company with a group of executives
with rich but varied experiences:
MD from Tata group
Professional executives with extensive
experience in watch manufacturing
Executives with marketing experience
specifically in retailing.
Medium range market
Large to handle
High growth potential
Quick segmentation
‘Doing it right the first time’:
Usage of innovative advertising campaign to create
& position the brand
REASONS NO. OF RESPONDENTS
Attractive Design
Reasonable price
Brand image
Good quality
39
7
22
25
Reasons for Brand Loyalty
Types of media NO. OF RESPONDENTS
TV
Magazine
Newspaper
Hoarding
46
25
36
15
Advertising
Reaching the customers
Speed and surprise are the crux of successful competitive strategy . -Art of War
Increased reach: Retailing
320 STORES 130 CITIES
Service excellence
Sustainability of brand reputation comes from service excellence.
Service policy
Repair the hurt
feelings of the
customer
Repair the
watch
Repair the
damage to
TITAN
reputation
www.titancare.co.in
Repair status
Service news
Service network information
Service feedback
Do’s, Don'ts, Tips
Quality policy & Service offerings
Globalization : International reach
32 COUNTRIES
2000 stores ; 135 million customers
became one of the first brands in the non-
consumer goods segment from India to be sold in
Middle East, East Asia as well as Europe.
* Regular interaction and systematic analysis of feedback
* Training and skill development in cross-cultural marketing
* Incremental approach supported by rapid learning and review
* Rapid learning and rapid adaptation to changing requirements in new markets.
* Continuous communication, dialogue-based goal setting & fear-free feedback.
Globalization : Strategy
Contemporary style + Excellent quality + affordable prices = Global Success
Globalization : Strategizing

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Titan mrktng strategy
Titan mrktng strategyTitan mrktng strategy
Titan mrktng strategy
 
Titan industries
Titan industriesTitan industries
Titan industries
 
Titan final ppt
Titan final pptTitan final ppt
Titan final ppt
 
Case study titan (1)
Case study titan (1)Case study titan (1)
Case study titan (1)
 
Group no 2 CASE STUDY ON TITAN
Group no 2 CASE STUDY ON TITANGroup no 2 CASE STUDY ON TITAN
Group no 2 CASE STUDY ON TITAN
 
Titan Market Research Project
Titan Market Research Project Titan Market Research Project
Titan Market Research Project
 
Titan retail management ankita
Titan retail management  ankitaTitan retail management  ankita
Titan retail management ankita
 
Titan industries ltd. company report
Titan industries ltd. company reportTitan industries ltd. company report
Titan industries ltd. company report
 
Indian watch industry
Indian watch industryIndian watch industry
Indian watch industry
 
Titan branding
Titan   brandingTitan   branding
Titan branding
 
Titan presentation
Titan presentation Titan presentation
Titan presentation
 
Titan
TitanTitan
Titan
 
Tanishq the turnaround story
Tanishq   the turnaround storyTanishq   the turnaround story
Tanishq the turnaround story
 
Titan
TitanTitan
Titan
 
Titan company ltd
Titan  company ltdTitan  company ltd
Titan company ltd
 
Ppt (ca2)CASE STUDY ON TITAN
Ppt (ca2)CASE STUDY ON TITANPpt (ca2)CASE STUDY ON TITAN
Ppt (ca2)CASE STUDY ON TITAN
 
Strategy Analysis of Titan
Strategy Analysis of  TitanStrategy Analysis of  Titan
Strategy Analysis of Titan
 
Tanishq- A marketing research study
Tanishq- A marketing research studyTanishq- A marketing research study
Tanishq- A marketing research study
 
Tanishq
TanishqTanishq
Tanishq
 
Titan watches
Titan watchesTitan watches
Titan watches
 

Ähnlich wie Titan watches: A brand innovation case study

Ähnlich wie Titan watches: A brand innovation case study (20)

Titan Watches - How the Brand is been Created
Titan Watches - How the Brand is been CreatedTitan Watches - How the Brand is been Created
Titan Watches - How the Brand is been Created
 
TITAN CASE STUDY.pptx
TITAN CASE STUDY.pptxTITAN CASE STUDY.pptx
TITAN CASE STUDY.pptx
 
Timex case-study
Timex case-studyTimex case-study
Timex case-study
 
Titan
TitanTitan
Titan
 
Industry overview
Industry overviewIndustry overview
Industry overview
 
Titan Watches Case Study Presentation
Titan Watches Case Study PresentationTitan Watches Case Study Presentation
Titan Watches Case Study Presentation
 
Titan
TitanTitan
Titan
 
Brand Dossier of Titan Watches
Brand Dossier of Titan WatchesBrand Dossier of Titan Watches
Brand Dossier of Titan Watches
 
TITAN_OB%20for%20download.pptx
TITAN_OB%20for%20download.pptxTITAN_OB%20for%20download.pptx
TITAN_OB%20for%20download.pptx
 
Fastrack IMR - Singapore (International Marketing)
Fastrack IMR - Singapore (International Marketing)Fastrack IMR - Singapore (International Marketing)
Fastrack IMR - Singapore (International Marketing)
 
Fastrack Marketing Presentation
Fastrack Marketing PresentationFastrack Marketing Presentation
Fastrack Marketing Presentation
 
TITAN WATCHES
TITAN WATCHESTITAN WATCHES
TITAN WATCHES
 
Watches
WatchesWatches
Watches
 
Titan industries
Titan industriesTitan industries
Titan industries
 
Titan industries
Titan industriesTitan industries
Titan industries
 
Titan industries
Titan industriesTitan industries
Titan industries
 
Titan watches
Titan watches Titan watches
Titan watches
 
Watches group 13
Watches group 13Watches group 13
Watches group 13
 
Watch
WatchWatch
Watch
 
Fastrack
FastrackFastrack
Fastrack
 

Kürzlich hochgeladen

The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...Brian Solis
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.mcshagufta46
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Onlinelng ths
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakEditores1
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfCharles Cotter, PhD
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHelene Heckrotte
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinAnton Skornyakov
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Winbusinessin
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfAnhNguyen97152
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsyasinnathani
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfHajeJanKamps
 

Kürzlich hochgeladen (20)

The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
 
A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.A flour, rice and Suji company in Jhang.
A flour, rice and Suji company in Jhang.
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
To Create Your Own Wig Online To Create Your Own Wig Online
To Create Your Own Wig Online  To Create Your Own Wig OnlineTo Create Your Own Wig Online  To Create Your Own Wig Online
To Create Your Own Wig Online To Create Your Own Wig Online
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerak
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptxHELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
HELENE HECKROTTE'S PROFESSIONAL PORTFOLIO.pptx
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup Berlin
 
Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024Ethical stalking by Mark Williams. UpliftLive 2024
Ethical stalking by Mark Williams. UpliftLive 2024
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story points
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
WAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdfWAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdf
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
 

Titan watches: A brand innovation case study

  • 1. A brand innovation case study
  • 2. Why study Titan watches ? Use of innovation Broadest range of watches Brand leader in the country of its origin Only branded watch company to originate from a newly industrializing country Became the best brand in a short time
  • 3. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. WHO?WHEN?WHAT?
  • 4. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. • Established in 1987 • Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team. • Third Indian watch manufacturer after HMT and Allwyn. WHO?WHEN?WHAT?
  • 5. Introduction : History • World's fifth largest wrist watch manufacturer. • Designer and manufacturer of India's largest and best-known range of personal accessories • Joint venture between the Tata Group, and the Tamil Nadu Industrial Development Corporation. • Indian designer and manufacturer of watches, jewellery and other accessories including sunglasses, wallets, bags and belt. • Precision engineering is another area of specialisation. • Established in 1987 • Envisioned by Mr. Xerxes Desai, a TATA Veteran and his team. • Third Indian watch manufacturer after HMT and Allwyn. WHO?WHEN?WHAT?
  • 6. Today, Titan watches account for more than 60% share of the total Indian Watch Market. Sold in about 32 countries through marketing subsidiaries based in London, Aden, Dubai and Singapore. Titan offers various brands including Steel, Regalia, Raga, Nebula, Sonata, Fastrack, Zoop, Orion, Purple, Obaku, Automatic, Tycoon, Bandhan, Octane and the HTSE series. Introduction : History
  • 8. 1984 + • Joint venture • Electronic watches • 150 designs 1986 + Digital & ana-digital watches 1989 ‘Aqura’ range of watches launched • ‘Aqura’ sold to Timex • Consultancy services • Marketing strategy outsourced 1991 1992 • ‘Raga’ range of watches launched. • “Spectra” range reintroduced 1994 • ‘Tanishq’ range of watches launched • ‘Insignia’ launched in India 1995 + ‘Sonata’ range of watches launched 1996 Timeline
  • 9. ‘Dash’ range of watches launched 2001 2000 • ‘Cyber’ range of watches launched • ‘Titan-Fastrack’ launched • ‘Baarah nai toh tera ampaign with pizza hut • ‘Classique’ collection launched 2004 ‘Crown’ range of watches launched ‘Vizag’ range of watches launched 20052006 ‘Xylys’ range of watches launched 2013 ‘Edge’ and Braille watches launched ‘Octane’, ‘Obaku’, ‘Automatic’, ‘Purple’ range of watches launched
  • 10. Innovation strategies should lead to inimitability of strategic options that come from certain tacit knowledge elements or embedded organizational processes 1 Strategic options an innovation provides should lead to sustainable competitive advantage. Innovation should enable a firm to retain superiority in the market place.2Strategic innovation should allow a firm to pursue strategic options without loosing its flexibility. 3 Options pursued should lead to durable benefits4 5
  • 11. Technological Innovation Increased reach: Retailing Cycle time reduction Continuous feedback Constant review Multi-brand outlets Service excellence Slim watches Watches for disabled Better finishes of watches Designing watches through visualisation Broader ranges of watches Robust design of watches Organisational Innovation +
  • 12. Innovation Agility and openness to change Product richness Alliance relationships, cross-functional teaming and design automation innovative approach to extend the reach to all major customer centers through the ‘watch supermarket’ concept. Superior brand reputation
  • 13. Global brand World–class manufacturing New image driven by innovation High torque stepper motors for high reliability Vapour deposition technology for appearance parts Cycle time reduction through concurrent engineering World’s thinnest watch movement Concept marketing instead of product marketing Brand image building in Europe Brand leveraging in other personal product segments Global procurement Total Quality management at the suppliers end Training new & young staff to have a new corporate culture Cross cultural marketing Innovation
  • 14. InnovationinValueChain Conceptualisation World class manufacturing Thorough assessment of competitive trends Customer orientation Design Design studio Networking into the world of design Design software CAD/CAM European design ideas Continuous renewal of models Operations Short product realisation cycle times Rich styles Integrated manufacturing Innovative technologies High quality orientation Wide range Distribution Multi channel distribution Institutional sales Dealer training for attitudinal change Marketing & Sales Flagship showrooms Multi-brand showrooms Selling competitive products Rapid increase in reach by locating outlets in smaller towns Rapid brand extension Service Front service offers Spare parts warehouses Short service cycle time Intensive training for service excellence
  • 15. What does all the innovation lead to?
  • 17. Slim watch design Titan has claimed to have manufactured the world's slimmest wrist watch branded as Titan Edge with a total thickness of 3.5 mm and a movement of 1.15 mm.
  • 19. Better finishes, materials, broader ranges, robust design
  • 20. Better finishes, materials, broader ranges, robust design
  • 21. Better finishes, materials, broader ranges, robust design
  • 22. Competition from lead competitor Minimum return during sale period Quality: Central focus High torque stepper motors Durable finishes using vacuum deposition Large range of styles in a short time frame Distinct in appearance & style Art and design studio was set up Help from European designer Art software & computer aided design Watches are elegant & rich in style Retail networking and richness of product Design Strategy Manufacturing Strategy +
  • 24. ‘Telling the time’ product ‘Personal’ product Rock-solid vision Best staff-mix Thorough market analysis Right market segment
  • 25. An organisation with: Design Manufacturing competence (Automation) Marketing competence Driven by: Futuristic mindset Contextual insight Business foresight Volume creation: When Titan entered the market, the share of analog watches was just 5% Target the high opportunity segment Position itself as a premium brand Roadmap BRAND CREATION Rock-solid vision Best staff-mix Thorough market analysis Right market segment Why do Indians prefer watches made abroad ? Nature of market Competitor offerings Analyse operation of competing brands Customer requirements Identification of major gaps: Styling, service Retail reach Showroom interiors Capability of franchisees Attitude of retailers towards customers Main weakness in the Indian market: No brand had a strong personality Started the company with a group of executives with rich but varied experiences: MD from Tata group Professional executives with extensive experience in watch manufacturing Executives with marketing experience specifically in retailing. Medium range market Large to handle High growth potential Quick segmentation ‘Doing it right the first time’: Usage of innovative advertising campaign to create & position the brand
  • 26. REASONS NO. OF RESPONDENTS Attractive Design Reasonable price Brand image Good quality 39 7 22 25 Reasons for Brand Loyalty
  • 27. Types of media NO. OF RESPONDENTS TV Magazine Newspaper Hoarding 46 25 36 15 Advertising
  • 28. Reaching the customers Speed and surprise are the crux of successful competitive strategy . -Art of War
  • 29. Increased reach: Retailing 320 STORES 130 CITIES
  • 30. Service excellence Sustainability of brand reputation comes from service excellence.
  • 31. Service policy Repair the hurt feelings of the customer Repair the watch Repair the damage to TITAN reputation www.titancare.co.in Repair status Service news Service network information Service feedback Do’s, Don'ts, Tips Quality policy & Service offerings
  • 32. Globalization : International reach 32 COUNTRIES 2000 stores ; 135 million customers became one of the first brands in the non- consumer goods segment from India to be sold in Middle East, East Asia as well as Europe.
  • 33. * Regular interaction and systematic analysis of feedback * Training and skill development in cross-cultural marketing * Incremental approach supported by rapid learning and review * Rapid learning and rapid adaptation to changing requirements in new markets. * Continuous communication, dialogue-based goal setting & fear-free feedback. Globalization : Strategy Contemporary style + Excellent quality + affordable prices = Global Success Globalization : Strategizing

Hinweis der Redaktion

  1. Innovation is the application of better solutions that meet new requirements, inarticulate needs, or existing market needs.
  2. 3.5mm thickness
  3. 3.5mm thickness
  4. Innovation is the application of better solutions that meet new requirements, inarticulate needs, or existing market needs.