The Titan StoryEarly 2001, when Indian consumers rated Titan ahead of all other

brands as the Most Admired Brand in India across all product categories (the first ever such survey done by Brand Equity), it did not surprise people that a 13 year-old had managed to upstage many older and more well-known brands: it was expected of Titan to achieve such things, it was so natural.

It was also a fitting tribute to a brand, which had not only revolutionized the Indian watch industry, but also brought in world-class benchmarks in product design, quality and retailing into India.

Back in the early eighties, the Tata Group had identified the watch category as a potential consumer market for the Tata's to enter. Xerxes Desai, a Tata veteran and the then MD of Tata Press, was chosen to lead that venture.

The Company entered into a collaboration agreement with France’s Ebauches (FE), who were manufacturers of watch movements and components, for technical documentation, assistance in procurement of manufacturing equipments, raw materials, etc.

An MoU was signed between Titan and Casio Computer Company of Japan in November, 1986.

The Company proposed to manufacture 2 million digital and ana-digi watches in collaboration with Casio Computer Company of Japan.

In 1987 the company established a manufacturing facility at Hosur manufacture components for watches.

Xerxes Desai's vision was to dramatically alter this perception of consumers, and make Titan a fashion accessory. He knew that that was the only way that this new brand would explode the market and wrest control from the dominant HMT. So he and his team went about breaking all the rules in the category:

Mechanical technology was the norm - Quartz had not really taken off in India. Titan would go against that and build its line based on quartz. Accuracy would become a selling-plank.

Styling was basic - This was a constraint imposed by the technology as well the outlook of the manufacturers. 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 - There was no importance given to presentation, and therefore no attempt made at it. Titan brought in the concept of retailing into the watch market, established a network of fine showrooms which would later become the world's largest network of exclusive watch stores.

Advertising was expenditure - Titan saw this as a vital investment. Right from Day 1, Titan invested significantly in advertising and in that process created a set of memorable and effective properties over the years.

What is truly amazing about Titan is the sheer scale of its offering and the consequent choice it offers to multiple segments across taste, age and economic background. Titan saw this approach as the foundation of its leadership strategy in the early days.

The Titan’s Yatra In 1989, it was Aqura, the trendy range for the youth, colorful, smart and

affordable plastic watches for the youth: The other side of Titan for the other side of you.

In 1992, it was Raga, the ethnic range, with striking symbolism from ethnic India, for the sophisticated Indian woman who appreciated such things.

In 1993, it was Insignia, very distinctive and international-looking top-end watches, for those seeking exclusivity and status.

In 1994, it was psi 2000, rugged, sporty and very masculine watches with serious sports features (200-m water resistance, high precision chronographs) for those with the penchant for adventure.

In 1996, it was Dash, the cute and colorful range for kids.

In 1997, it was Sonata, the affordable, good quality range for the budget-conscious.

In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart.

In 1999, it was Nebula, the sold gold and diamond-studded range of luxury watches for those affluent people to whom gold is a precious acquisition.

In 2001, it was Steel, the smart and contemporary collection for the young 21st century executive.

And in 2008, the brand has collections like the Octane, Diva, WWF and Zoop - each of them unique and fascinating.

Origin of Titan Music The idea of using the flamboyant third movement from Mozart's 25th

Symphony in G minor, written when Mozart was only 17 years old, came from Suresh Mullick who was O & M's creative head in 1986 when Titan's first TV campaign was being planned. Mozart's symphony had already been immortalised for contemporary non-cognoscenti in one of the greatest movies of our time, AMADEUS, which was released in 1984.

The music was such a resounding success that it was never ever dropped, and no thoughts were ever entertained of making a change.

The music was singularly appropriate: it exuded enthusiasm and energy,

flamboyance and power, tenacity and triumph. It was young and full of zest, typical of the composer himself. Yet it was classy and elegant. And, of course, it was very European. Both the music and the man who wrote it perhaps the greatest musical genius of all time had all the right connotations and fitted so very well with the character of the brand and of the organization that we were seeking to create.

Financial Growth of CompanyTitan Industries Ltd has posted an increased

sales turnover during the third quarter of the fiscal by 40 per cent from Rs 105.85 crore to Rs 147.97 crore in the current year while the company's profit after tax has gone up by 28 per cent from Rs 1.37 crore to Rs 1.96 crore.

During the nine month period, Titan's watch sales rose from 31.38 lakh pieces to 36.90 lakh units marking a growth of 18 per cent, led by brands like Regalia, Raga, Fastrack, Sonata (plastic) and its newly launched Dash labels.

As on 31st March, 2007, the Company held fixed deposits of Rs. 8.29 crores from the public, shareholders and employees.

There were no overdue deposits other than unclaimed deposits amounting to Rs. 0.11 crore.

An amount of Rs. 4.85 crores has been transferred to the debenture redemption reserve in accordance with statutory requirements and the terms of Rights Issue.

During the year under review, the Company made payments aggregating to Rs. 308.97 crores by way of central, state and local taxes and duties as against Rs. 221.45 crores in the previous year.

Mission & VisionCompany has shifted its growth strategy from adding to

equipment and manpower to one of obtaining increased production through innovative ideas and greater operating efficiency by adopting global best practices. It has come up with two priorities :-

 The first priority has been to resolutely drive down unit costs through product and process modifications and aggressive sourcing.

The second priority has been to boost asset productivity - producing more with less: less of men, materials, machines and time - and thereby securing the twin benefits of higher output and lower costs.

Company sold 4.76 million watches in the domestic market as against 3.97 million in the previous year. Growth came mainly from improved market penetration and from the newly introduced Sonata brand (now Under TATA name), which now includes over 400 models at prices which start from Rs350.

Company has recently developed a new focus on several market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders. A systematic programme of launching these has already commenced and highlights of the year included the relaunch of Fastrack and Raga.

4P’s

Product & PriceFAST TRACK

A collection of watches will contemporary styles that are young and distinctive. Designs that go from the relaxed and informal to the definitely sporty. The woman’s collection presents the all new international `Frosted’ look, which is trendy and chic.

The Fastrack collection has elements like cool mesh straps and features that include EL back-light and dual time. Also presenting a range of fashion digitals in contemporary wrist hugging cases with oversized displays and features that include countdown timers, chronographs, lap timers, hourly chime, alarm and Hi-light glow.

Price: Rs.550-1,430

Category Aimed at : Youth

EXACTA

A perfect combination of dateless styling and design simplicity, Exacta is the all-steel look in Titan. Everyday watches for those who value fundamental principles of durability, reliability and affordability.

Price: Rs.595-1,140

Category Aimed at : Lower Middle Class (Office Wear)

SPECTRA

A truly unique collection of watches that combines the sturdiness of steel with the richness of gold. International in styling the `Spectra’ collection is designed for those who look beyond the ordinary.

Price: Rs.650-1830

Category Aimed at : Common Class

ROYALE

A stunning collection of alluring gold-plated cases matched with exquisite gold-plated straps, the `Royale’ collection has designs that suit everyday wear.

Price : Rs.960-2,830

Category Aimed at : Upper Middle Class

RAGA

Exclusive watches for women. The Raga and Silver Raga collection is elegant, delicate and feminine with each piece being truly unique. An existing collection that includes decorative motifs, `kadas’, studded bracelets and a first of its kind three-in-one watch. The designs are inspired by traditional Indian as well as contemporary motifs and are expressed in ropes, `kadas’ and ornamental bracelets. Crafted exclusively for the sophisticated woman, who wears silver jewellery with élan, the Silver Raga makes a perfect accessory that completes a woman’s wardrobe.

Price: Rs.1,420-4,000

Category Aimed at : Upper Class

BANDHAN

Watches for him and her. The pair watches of the `Bandhan’ range are Titan’s tribute to the everlasting quality of a bond between a man and woman The Bandhan Collection is available in both leather straps and gold bracelets and its presented in uniquely designed packaging.

Price: Rs.1,675-8,085.

Category Aimed at : Couples

REGALIA

Magic in gold and unique futuristic material. Finely crafted sleek cases and patterned dials with special appliqué flowing into intricately designed bracelets. A unique combination of an all-gold and bicolor look, the `Regalia’ range represents the essence of dress-wear.

Price: Rs.1725-7770

Category Aimed at : Upper Middle Class – Upper Class

EDGE

The Titan EDGE is the Slimmest Watch in the Universe; a mere 3.5 millimeter thick, the watch is practically invisible. Delicately crafted with precision, it has an incredibly Slim Movement of 1.15 millimetes. Furthermore, the Titan Edge is Water Resistant to a depth of 30 meters, an attribute rarely ever seen in slim watches. Titan’s Edge comes with an elemental One-Piece case made from Non-Allergic Stainless Steel, and a Sapphire Crystal that market it Scratch Resistant.

Price: Rs. 4,500-5,200

Category Aimed at : Business Class

NEBULA

Nebula, a range of watches crafted from solid gold embellished with precious stones, available with both leather straps and intricately designed bracelets. With Nebula, Titan turns watches into precious jewellery. The finishing touch to this exquisite collection is the sapphire crystal that crowns each of the watches.

Price: 10,000-45,000

Category Aimed at : Upper Class

Competitors of Titan

HMT RADO CASIO SEIKO ESPRIT CITIZEN SWATCH CARTIER GIORDANO LONGINESS MAXIMA QUARTZ IMFQ-INDIAN MADE FOREIGN QUARTZ FASHION HOUSES – DKNY, GUCCI, ADIDAS, NIKE, BVLGARY

Features That Make The Titan CURVES AND CONTOURS LEATHER STRAPS WITH OFFBEAT CONSTRUCTIONS AND

SHADES ERGONOMIC INTERGRATION FASHION SPORT IN SPIRIT BOLDER AND CLEANER DIALS ROMAN AND ARABICS FOR FASHION STREAK PRINTED HANDS POPULAR FUNCTIONS LIKE DATES, MULTI FUNCTIONS AND

CHRONOGRAPHS GUARENTEE/ WARRANTY BECOMING A PART OF THE 50 MILLION TITAN FAMILY LOVE, TRUST AND RESPECT A UNIQUE TIME PIECE IN STYLE OR QUALITY

PromotionsCreative AdvertisingType of AdvertisementPromotion on OccasionMusical AdvertisementSegmentation50 Million ConceptStrategic ImplementationsFocusBanner or Hoarding

Revamping the Titan brand imageSponsorshipSeason abilityGifting ConceptStrategic Flexibility Promotion Through ContestPromotion Through Television Programmes

Conclusion In the Journey from being a watch manufacturing unit to the watch leader

in the industry the journey to the 50 million watch mark has just shown the METAL of which Titan is made of.

In this MEMORABLE TRANSFORMATION Titan has at every step taken FULL `N’ FULL care of each person that entered its 50 MILLION STRONG FAMILY which has made it possible to be what it is today.

TITAN COULD BE CALLED BY VARIOUS NAMES.

“The Company that brought Quartz watches in India”.

“Everyone’s Brand yet different products to different people”

“The company that made watches a fashion statement than a time piece”

And many more…

Titan has proved its true identity taking the Indian name to foreign soil and shining on soil not its own, the respect the name commands in the watch industry has been achieved in a very short time.

50,000,000

& STILL GOING STRONG

WELL DONE TITAN

BibliographyWEB SITES

www.titanwold.com www.tata.com/titan www.google.com www.indianfoline.com www.thehindu.com www.economictimes.com

BOOKS REFERED

MARKETING MANAGEMENT – PHILIP KOTLER MARKETING BASICS - RAJAN SAXENA

Prepared by :-

Bhavesh R. Purohit

Thank You