Consumer Behavior

How TITAN Watches Changed Consumers Perception about Wrist Watch?????

The Perception
In 1980s wrist watches were seen as.

A Functional Product Durable & Precious A one time purchase Timeless - Can be handed over generations

The Indian Watch Industry

HMT and Allwyn were the only companies. No brand with strong personality

The TITAN Story

In the 1980s, Xerxes Desai and his team dreamed about a range of watches that could revolutionize the attitude of people towards the accessory that so far only indicated the time. They foresaw a future where style and design coexisted with utility; where a watch would flatter a dress or make a look.

The Titan customer is known to indicate a strong sense of trust and loyalty towards the brand. Titan has been voted Most Admired Brand (across categories) and the Most Admired Consumer Durable Brand several times. Titan is now the 5th largest watch producer in the world.

Titan has left an indelible footprint across the world, taking its dedication to quality and flair for design to 27 countries worldwide, including the Middle-East, South-East Asia and Africa. As you read this, a Titan watch is being bought somewhere in the world.

Durability to Sophistication
Strategy:

Brand Marketing Well-Planned Advertising Segmentation Targeting Value Proposition Right Product Mix

Personal Product

Style and Fashion Accessories

Utility Device

Breaking The Rules!!!!

Mechanical technology was the norm - Quartz had not really taken off in India. Titan built its line

Styling was basic - This was a constraint imposed by technology. Titan decided to make style a table-stake.

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 one, Titan invested significantly in advertising.

Market Segmentation
Demographic Age Gender Education Income Religion Occupation Family Lifestyle Geographic Country Region Urban/Sub-urban/Rural Population Density City Size Climate Psychographic Lifestyles Psychological Variables - Personality - Self-image

Potential Markets

Benefits Expected Benefits from Product use

Strategic Targeting
Segment customers into clusters Caters to all segments of consumers High Income Group Middle Income Group Low Income Group Marketing plan based on product and media mix for the respective target audience

There is a TITAN for every occasion, every mood and every look.

1986: The New World Watch Target: Un penetrated segment Objective: Position as a Premium brand with global reach.

1992: Launched RAGA Target: Women Symbolism: Ethnic Range

1997: Launched Sonata Target: Budget Conscious Symbolism: Affordable, Quality

1998: Launched Fastrack Target: Youth Symbolism: Trendy

2004: Whats Your Style Objective: To position as a Style Brand. Aamir Khan as Brand Ambassador

2006 - Collaborated with European Designers to Design New Watches & Launched Xylys Target: High End Symbolism: Luxury Swiss Made

Targeting Latent Needs Mens Collection (Premium Segment)

Strategic Targeting Perfection between Aamir and Titan

Celebrity Endorsements Observational Learning's Positive Motivation Induced to own multiple watches Sophistication- Taste - Status Symbol

Brand Personality Appealing visualizers

Cultural Appeal

Strategic Targeting Womens Collection Premium Segment

Emergence of distinct consumers. Distinct buying factors Sub-branding strategy

Target- Modern Women Behaviors Celebrities Endorsements Quick Visual Grasp Building Positive Perception Motivation for Unique Possessions Positive Inducement Signature Style

Strategic Targeting Low Price Segment

Wait Mat Kar Collection

Target: Impatient Youth Positioning: For those who are impatient for progress. Symbolism: Dynamism and optimism of the Indian youth.

Target: Needs and aspirations of 15-28 yrs generation Positioning: Naya Josh, Naya Style. Symbolism: Energy and confidence of youth

Yuva Collection Youth Fashion @ affordable price

Solid Steel Collection

Target: Age group of 20-30 years across all town classes. Positioning: Change the dynamics of the economy price segment Symbolism: redefine the style quotient

Strategic Targeting Urban Youth Fashion

Sharply defined consumer segments around distinct buying factors More awareness of brands and global trends among urban consumers

Target: aimed at young urban Indians looking for watches that are fashionable and stylish. Generating youth appeal. Positioning: Fastrack wants to be. Cool.

Brand Loyalty Recall Measures

Build relationships through rewards, regular discounts and special offers. Titan Signet, a 1,36,000-member club Gift Cards from Titan are designed to offer your loved ones the joy of choosing their own gift. Large network of showrooms and service centers offering superior customer service

Ajaz Siddiqui Sunil Jaiswal Sushant Bhosale

Ashish Shukla Kalpesh Modi Mehul Kanakia