2.
Titan Industries is the world's fifth largest
Established in 1984, has emerged as a watch, eyewear & jewellery brand
Customer base of 80 million, add 1.2 million customers every year
Major Highlights of its Success are :
247 exclusive „World of Titan‟ showrooms in 110 cities
12000 outlets in 2500+ cities
International presence in 30 countries
Manufactures 8 million. Watches, 1.5 lac pieces of jewellery
700 after sales service centers
A world−class design studio (R&D)that constantly invents new trends in
wrist watches
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3.
Titan sells around 7-8 million watches annually
Timex sells under 1.2 million watches
Other Brands (all put together sell less than 0.5 million watches)
The Japanese – Citizen, Casio, have been present, while Seiko has
not made any significant moves in India.
The Swiss – Rolex, Omega, Rado, Tissot, Tag, Longines, Cartier,
Ebel and a host of others.
The fashion brands – Esprit, Giordano, Tommy Hilfiger, Calvin
Klien, Fossil, Swatch and many more have recently entered the
Indian market
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8. PRICE
Titan prices according to the features and value
delivered.
They get the maximum market share from Sonata.
Since there is no one offering pure gold watches
and jewellery watches so it is able to skim the
market with their distinct products.
Titan comes out every year with a price discount
sale on watches.
TITAN PRICING
Pricing Objectives
Survival (i.e. Titan Exacta)
Market share (i.e. Titan Sonata)
Market skimming (i.e. Titan Nebula)
Product quality
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9. PROMOTION
Advertising: through print media in leading
newspapers and fashion magazines.
TV Commercials: on all leading channels.
E-promotion: through social media like
Facebook, twitter etc. and other most visited
websites to target youth which is target market
for watches.
Direct Marketing: through invitation to
potential customers to visit stores via email or
calls and other techniques like promotional
display of watches.
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10. Sales promotion
Sponsorship
Seasonality
Promotion through
Contests
Titan tagline: Be more
Fast track tagline: How
many you have?
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11. PEOPLE‟S
People are a defining factor in a service delivery process, since a service is
inseparable from the person providing it therefore we need to train staff for
better public dealings
Complaints department
Servicing and Warranty department
Receptionist
Sales force
Accounting and billing
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12. Physical Environment
The last element in the service marketing
mix is a very important element a
services are intangible in nature.
However, to create a better customer
experience tangible elements are also
delivered with the service to differentiate
in service marketing.
Luxurious interior
Magazines
Music
Elegant packaging boxes for watches
Well dressed staff
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13. Process
The process of service delivery is crucial since it ensures that the same
standard of service is repeatedly delivered to the customers.
All services need to be underpinned by clearly defined and efficient
processes. This will avoid confusion and promote a consistent service.
In other words processes mean that everybody knows what to do and how
to do it.
Speedy delivery of watches in e-shopping.
Payment by new and fast methods including cards and cash payment.
Good way of greeting customers by sales force and ensuring customers are
attended.
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15.
ATTRIBUTE POSITIONING ( Raga, exclusive watches for women )
USER POSITIONING ( Fastrack Digital, with “techno-geek” image )
BENEFIT POSITIONING ( Fastrack, contemporary, sturdy & reliable )
COMPETITOR POSITIONING ( Edge, slimmest collection of watches )
QUALITY OR PRICE POSITIONING ( Sonata, „value for money‟ )
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16.
Mechanical technology was the norm - Quartz had not really
taken off in India. Titan built its line based on quartz
Styling was basic - This was a constraint imposed by technology.
Titan decided to make style a table-stake.
Choice was limited - You had 200 models to pick from, that was it.
Titan decided to inundate consumers with a wide choice in style,
functions and price. The initial range was 350 models.
Shops were dark, dingy and uninteresting - no importance given
to presentation. Titan brought in the concept of retailing in watches.
Advertising was expenditure - Titan saw this as a vital investment.
Right from Day 1, Titan invested significantly in advertising.
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17. CRM strategies to acquire, retain and extend customers are:
Feedback
Membership Cards
Delivering higher value
Potential customer data bank
Differentiating from rivals
Advertising and promoting
Social customer
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18.
Titan has given a headway in CRM.
Implemented no. of small, yet significant measures
Watch Care Centre‟s :
Receptionist – Local Language
Posh showrooms
Late working hours
No Lunchtime
24 Hrs. Voice mail
Increased Consumer Loyalty And Brand Awareness
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19. Titan launched “THE TITAN SINGNET” in May 1995 at exclusive world of
Titan.
The Titan Signet is a select club that recognizes the loyalty of customers at
World of Titan showrooms.
It is designed to give these select members, exciting rewards as well as tangible
benefits in recognition of their loyalty to the World of Titan showroom.
These rewards and benefits increase in value as the members increase their
purchases from any World of Titan showroom or Titan Watch Care Centre
participating in the Signet programme.
The Titan Signet also provides a platform for direct feedback from these valued
customers.
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20.
The key to availing rewards and benefits is the Titan Signet enrolment and the
Titan Signet membership card.
You win some …. and then you win some more . That's the idea behind The
Signet Rewards Scheme.
Any customer at The World of Titan can become a member of The Titan Signet
if he / she has bought:
•Any single product worth Rs 2000 or more.
•Any Titan Raga Watch (irrespective of price)
•Any Fastrack watch or eye gear worth Rs.995 or more
• A total bill value of Rs.3000 or more which may include Titan Gift Vouchers
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24.
Employing the physically challenged
Women's empowerment
The Titan school and the Titan Foundation for Education
The Titan Scholarship
The Titan Township -building a sustainable community in Hosur providing
a home to 1300 residents.
Community Development Forums - Eye care camps, Eye donation
initiatives - Aids Awareness- Programs for the differently abled - No
tobacco drive, Children's programs.
Partnering with NGOs like CRY, Concern India and Ashraya.
Improving the quality of life for children - the TATA -TCCI -TITAN Bal
Bhavan Children's park project at Cubbon Park , Bangalore
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26.
The quality of watches is impressive.
Innovation is core to its strategy.
Visual Merchandizing has been Titan‟s strength ever since its
inception.
Good retail network by “WORLD OF TITAN”
Excellent customer service.
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27.
Rural India does not form a substantial part of customer base.
Kids are fascinated with mobile phones rather than watches
and incidentally, they show the time.
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28.
Only 35% (approx) of Indian population possesses
watches.
Watches positioned as a fashion wear rather than just
utility products.
Huge market in the exchange business.
Rural market may be tapped
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30.
Titan Positions the Generic Device-Watch-As an Ornament
Distribution and Promotion Further Strengthened
Always remember the USP
Don‟t neglect Public Relations
Communication – tagline
TV commercial
Increase penetration in tier 3 cities
Retaining existing customers
Increase service centers
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31.
Titan watches account for a 60% share of the total Indian market
and are also sold in about 40 countries through marketing
subsidiaries based in London, Aden, Dubai and Singapore.
Titan watches are sold in India through retail chains controlled
by Titan Industries.
Titan Industries announced the launch of its first Titan flagship
store, located at Opposite Shoppers Stop, Bandra Linking Road,
Mumbai, India.
Titan Industries acquired Swiss watch maker Favre-Leuba for
Euro 2 million.
In October 2012, Titan partnered up with Zee Watch Group,
becoming the sole distributors of Titan watches in the U.S.
12 February 2014