Titan Watches Case Study Presentation

WHAT’S YOUR STYLE

CASE STUDY PRESENTATION

CONSUMER BEHAVIOUR

Group Details

1. Sandeep Chaubey – 109

2. Marshall D’souza – 115

3. Nikhil Mehta - 137

4. Vishal Pansari – 149

5. Kamlesh Parmar - 150

Titan Watches - Case Study - N.L.Dalmia 2

Introduction Titan, a joint venture between Tamil Nadu Industrial

Development Corporation (TIDCO) and the renowned Indian business group Tatas, entered the watch market in 1984.

Titan changed the watch market in India completely by making quartz watch the centerpiece of its strategy.

Titan is one of the most powerful brands in the Indian market, scoring very high on brand awareness, brand image and brand preference.

Titan carefully segmented the market and developed different sub brands for each segment. Sub brands like Edge, Steel, Dash, Nebula, Classique, Royale, Fast Track, Raga ..etc

Titan has more than 60% share in organized sector


Sales History

*Rs in Lacs. Net sales include watches, jewellery and others segments


Sr. no. Year Net profit Net Sales* Growth %

1 2004 10.27 804.53 -2 2005 24.95 1136.6 29.22%3 2006 73.62 1483.15 23.37%4 2007 94.13 2138.44 30.64%5 2008 150.27 3042.72 29.72%6 2010 291.65 4703.12 35.30%7 2011 322.26 6570.86 28.42%

2010-11 Titan Industries Annual Report

The Initial ChallengeTitan Ltd., began their operations with a

complex marketing challenge; how to make Indian consumers switch over to quartz and better designed watches from the then just durable and quality electro-mechanical watches made by the competitors. (HMT)


Quartz Commercial


The Initial Challenge (contd)

Also Titan had to present its watches as a credible Indian alternative to Japanese and Swiss made watches, which were made available to the Indian consumers from the informal import routes.


The New World Class


The Initial Challenge (contd)

The third part of the challenge was to seek a behavioural modification among the watch-owners whereby they start viewing Titan quartz watches more as a fashion and lifestyle accessory than a functional time-keeping device that the watch had traditionally been. The final part of the challenge was to make people recall Titan as the first alternative whenever any buying occasion arose


Titan EDGE


Question 1 How did the TITAN watches change consumers’ motivation in

the wrist watch market ? Examine the following statement : “ Marketer’s do not create needs : latent needs pre-exist marketers.”

Answer: Earlier watches were considered to be one-time purchase. They were also considered time-keeping pieces or utilitarian products. Titan transcended them from the realms of being utilitarian or functional units to stylish products. They also encouraged customers to buy multiple varieties.


Behavioural change was possible because of :

• Advertising & heavily promoting the idea of watch being a style statement.

• Introduction of multiple varieties• Stressed on the need to have different watches for different

occasions• Appointing Aamir Khan as a brand ambassador.• Visual merchandising : The dingy, old stores were replaced by state-

of-art Titan stores called “ The World of Titan “• Producing quality watches and by providing fast and excellent

service.• Earlier none of the brands had a strong personality, Titan exploited

this weakness and positioned itself as a premium brand with a global reach.


Examine the following statement :

“Marketer’s do not create needs :

Latent needs pre-exist marketers” The statement “ Marketer’s do not create needs : latent needs

pre-exist marketers “ can be verified from the case provided

“From the deep market research Titan conducted it found out that Indian consumers preferred Foreign-made watches over their Indian conunterparts. It found out that the reason for the same was that they were not only perceived to have better quality but stylish also. In India, era of late 80’s was marked by hedonism. People were becoming trendier and more fashion conscious. Even customer’s desire of buying a durable, timeless watch shifted to buying a classic and elegant timepiece. Titan sniffed this opportunity and brought out

stylish pieces in different varieties, features and price-range.”


Marriage as a Occassion


Question 2 How can a product manager of wrist watches use possible

research findings that the Indian market is willing to buy a high priced Indian made watch when he hears that the same company has a global reach ? The issue is that of convincing the outer-directed consumers who are high on innovativeness to acquire an Indian made watch with a low perceived risk.


The product manager can convince customers in the

following ways The product manager of wrist watches can convince such

customers in the following ways :1) Appointing a brand ambassador having a global appeal.2) Should emulate the superior foreign brands in quality and style. Go for

quality certifications.3) Provide quick and excellent post-sale service.4) Position yourself as premium brand with global reach.5) Introduce various varieties with different features and different brand

name.6) Showrooms and service centres should be made world-class that reflect an

air of luxury and quality.7) Innovate continuously.8) Staff should be well-dressed, conversant in English and well-trained.9) Associate directly or indirectly with an international event and publicize

about this association through domestic media.Titan Watches - Case Study - N.L.Dalmia 18

Question 3 What kind of emotional message will Titan choose to meet

consumer’s changing desire from durability to sophistication ? Answer: Titan should choose one of these emotional

messages to meet consumer’s changing desires :‘ Because you deserve it ‘ : Advertisement should start by showing a girl (middle class), in

her 20’s, gifting her dad (teacher) a watch on his birthday. When he opens the gift he finds it to be an expensive Titan watch. He scolds his daughter for buying such an expensive gift. Daughter calmly tell him “ Papa ! Because you deserve it .” Man breaks into tears.


During Festive season (Diwali, Onam, Chritmas) showcase advertisements where their product is creating & sharing happiness across faces.

Watches which Impresses everyone with its style and design.


Playing EMOTIONALLY Titan now is trying to be more contemporary and more

relevant to the consumers by establishing more firmly in the minds of the consumers. "Be more“ is the new concept of Titan and it attempts to build a larger life connect between the Titan brand and consumers.

Titan is changing its portfolio by shifting its focus from product attributes to the earning, emotions, experiences and aspirations. The Titan aviator is inspired by world war IInd fighter plane, Titan Octave by cockpit of formula one car and Titan Raga Diva by beauty and sensuousness.


“BE MORE”


THANK YOU !!!Titan Watches - Case Study - N.L.Dalmia 23

Titan Watches Case Study Presentation

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