Brand and company analysis of Titan

score and corporation analysis of heavyweightIn early 80s, it was identified by the Tata base that the watch persistence is a capacious potential consumer market for the base to enter. A Tata veteran, Xerxes Desai who was the MD of Tata Press was chosen to head this initiative. giant was conceived in Tata Press in 1984- a joint venture between Tata the Tamil Nadu industrial Development Corporation. Like roughly consumer markets in India during the pre-liberalization era, the watch industry was way behind the rest of the world. The technology at that time was reliable, besides outdated. Tata Group entered the watch market with Quartz technology and the shopmark behemoth.Brand identity-Kapferers ModelPhysique is an outdoor tangible facet conveying distinguish qualities, form, physical specificities and colour. Physique is the starting point of branding. whale Elegant compoundd wear, Life-style watchesPersonality is an internal intangible facet which forms the characte r, brand nature and soul which are relevant for brands.TITAN A complement to act than just a time showing machineRelationship is an exterior facet with tangible and intangible areas, and defines the behaviour that indentifies the brand the way the brand connects to its clients.TITAN Watches as a practical luxury with a bunk other than beautyCulture is an internal intangible facet to integrate the brand into the organization which is essential in assortediating brands.TITAN Indian, traditional and reward qualityReflection is an external intangible facet reflecting the client as he or she wishes to be seen as a result of apply a brand.TITAN Lives deportment to the fullest, multi-faceted, revives aspirationsSelf-Image is an internal intangible facet reflecting the customer attitude towards the brand. These inner thoughts connect personal inner relationship with the brand.TITAN Be whatever you want to be and extract much from lifeStage in the PLCXylysFastrackSonata1984Extension of Maturity phase through repositionSalesTimeTitans winning story began in the year 1984 when in that location was a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Introducing Titan quartz watches which donned an international appearance, Titan Industries completely transform the Indian watch industry. After the launch of Sonata, a value-for-money brand which offered function entirelyy styled watches at reasonable prices, Titan Industries aimed to r separately the youth of the nation with its ternion trendy and chic brand Fastrack. Till date, Titan has sold 100mn watches cosmopolitan and it produces 12mn watches per annum.Steps taken by brand at each constituteAt Product LevelStage I openingTitan offers a broad grade of choices to numerous segments across taste, gender, age and frugal status. in the early days, Titan used this approach path as the cornerstone of its leadership strategy. Their former start had discrete offering s for specific requirements golden plated cases having fine leather straps were Formal watches launched specially for the executiveGold plated cases having cosmetic bracelets were Dress watches launched for those who prefer je intimatelyeryAll steel watches with functionality were the Rugged watches for those whose manipulation demanded more durabilityStage II harvest-feastLaunched Aqura In 1989, the trendy ordinate for the youthRaga in 1992, the ethnic range for the sophisticated Indian womanInsignia in 1993, typical and international appearing high-end watches, for those who seek exclusivityLaunched psi 2000 in 1994, the rugged, sporty and masculine watches with serious sports features for those who seek adventure.Dash in 1996, the bright and colourful collection for kidsLaunched Sonata in 1997, the affordable, good quality range for the budget-consciousStage three MaturityTitan came out with Fastrack in 1998, the cool, with-it and funky range for the youngNebula in 1999, the solid gold and diamond-studded range of luxury watches for affluent peopleSteel in 2001, the smart and neo-day collection for the young 21st century executiveIn 2006, launched its subsidy watch brand XylysAlso in 2008, Titan came out with extraordinary collections like the Octane, Diva, WWF and ZoopAt Communication LevelStage I IntroductionTitan decided to invest to a great extent into exhibiting all its innovations to the prospective consumers using advertisement. From the very first day, the archive advertising of Titan was used and it turned out to be its hallmark as it was utilize regularly and was very effective in merchandising new models. These catalogue ads were overly very helpful to the customers in shopping off the theme page, al closely deciding which model they were interested in picking up. Retailers also got used to viewing customers who would walk into shops with newspaper cuttings, specifically asking for the models pictured on that point. The same approa ch is continued till this day, with almost the same effect.The most persisting part of the Titan advertising has been its music track. It was a segment from Mozarts 25th Symphony which was chosen for its class and western vibes and has sprain Indian Advertisings most unforgettable track. It started in 1987 in its pure unspotted versions with only one violin playing the melody and over the years, this mankind of music has been delivered in innumerable innovative versions.Stage II GrowthIn the early 90s, Titan focused on building up the Gifting market. Watches had always been favourite things to gift and Titan benefited from that. A set of 3 films were developed in 1991 around 3 relationships, where the gifting of a Titan climaxed in a touching personal moment and strengthened the bond between the protagonists. All these films were very big hits and they created a separate genre of advertising films lasting around 8 years. During these years, a series of films involving a variety o f characters such as a father, a daughter, a teacher, a clotheshorse etc. with local flavour were created and released. These helped in building a huge gift segment for Titan and also became Titans Theme Campaign.Another golden customer-facing aspect about Titan has been its stores. In a pioneering attempt which drastically neutered the industry standards, the World of Titan was born. Located in the newer move of a city, the showrooms immediately stood out on the street and ended up in attracting a lot of walk-ins. One could get a fail idea about the collection through a contextual notification and could make up his mind which collection was right for his requirement.Stage III MaturityTitan Industries decided to revamp its flagship watch brand with the spirit of making it more youthful and relevant to the changing times. The brand underwent a major repositioning exercise in 2005, when Hindi film prole Aamir Khan was appointed brand ambassador and it was followed by the tagli ne Whats Your Style? campaign. It attempt to increase watch consumption per person, by suggesting the use of different watches for different occasions.In 2008, Titan moved from style statements to personality statements. With the explosion of options in a persons life, their core consumer was changing. Titan has evolved and adopted the tagline Be More. It denotes the aspirations of consumers to make more of their lives and be whatever they want to be.Market Scenario/ChallengesMajority of the watch customers turn tail to prefer Titan because of the appealing designs and supreme quality of Titan watches. However, there is a misconception in the minds of the consumers about the prices of Titan products as they find them to be pretty expensive. Titan is now trying to get hold of newer customer segments and are attempting to target all the adults in entropy A and SEC B. Titan is also considering advanced retail strategies and is projecting to launch modern product collections.SummaryT itan is the 5th largest branded watch manufacturing business in the world with four major brands in the market viz. Titan, Sonata, Fastrack and Xylys, all having several sub-brands and collections. Titan Industries commenced operations with groundbreaking offerings, i.e. Quartz watches which altered the look of the Indian watch industry. Ideas which were ahead of their times at Titan Industries led to substantial accomplishments such as Single Point Solutions to each and every Original Equipment Manufacturer customer.Titan watches are available at exclusive World of Titan outlets, Fastrack outlets, multi brand dealers, Multi brand outlet Helios and multi brand stores. Taking the forecast of brand fatigue earnestly, the brand recreated itself with the flawlessly styled Euro watches collection.In the near future, Titan can introduce an exclusive assemblage for administrator men and women which is contemporary and goes well with both the traditional as well as western wear. Also, the brand needs to spread more consciousness about the availability of its lesser-priced watches in lower segments of the society as most of the consumers feel that Titan brand is synonymous with premium watches.