Of Watches
-BY Ari Arihan hantt Ask Askii Gos Goswam wami, i, Sonyog Gosw Goswami ami Priyanka Priyan ka Hazar Hazarika, ika, Jessimuddin Jess imuddinAhmad Ahmad,, Pradyut
Segmentation, targeting, and positioning together comprise a three stage process.
determine which kinds of customers exist, then
select which ones we are best off trying to serve and, finally,
implement our segmentation by optimizing our products/services for that segment and communicating that we have made the choice to distinguish ourselves that way
Step 1 :Segmen :Segmentat tatio ionn- the Titan Perspective The levels of market segmentation are:
.
Marketing · Segment Marketing Marketing · Individual Marketing · Niche Marketing Marketing · Local Marketing
Marketers target more than one segment when it is not
economically feasible to design products and services se rvices for individual segments. PERSPECTIVE Titan has segmented its business into three main categories: Mass Mid-premium luxury
TITAN
Individual Marketing is the extreme level of
segmentation segmentation in which marketers focus on individual individual customers. TITAN PERSPECTIVE
Titan has not applied this
for its marketing !!
A niche is more narrowly defined group, typically a small market whose
needs are not well served. Marketers usually identify niches by dividing a segment into sub segments or defining a group seeking a distinctive mix of benefits TITAN PRESPECTIVE Serving the youth since they form the majority of customer base.
introducing FAST TRACK · price offering from Rs 500(affordable) · watches with style statements
Marketing programs being tailored to the needs and wants of local customer
groups. The prominence of local marketing has also a lso become very dominant. TITAN PERSPECTIVE
All the products of TITAN are addressed to all the customers as a whole.
Localized products are not available. But some products which are available in UK have some pictures of eminent personalities on their Dial like M.K. Gandhi, Mr. Jawaharlal Nehru,etc. so that the customers can identify the product with those dignitaries.
B low Rs 500
Income
B tw 1500) B tw 3000) B tw 5000) B tw
Rs (500Rs (1500Rs (3000Rs (5000-
10000) Abov Rs 10000
AGE AND LIFE CYCLE STAGE
GENDER
ts Ladi s Marri d coupl s
Social class
Fashion
Statement
Fashion
12--20 18--30
30--35
Statement but price sensitive
Utility
Lifestyle:
Personality Luxury Mid Premium Mass
economy category luxury category sports & casual category, fashion category,
Benefits
Occasions
Formal
Dress wear Fas
io
SERVICE CENTRE uge product ra ge good life cycle
Four main activities in this stage
Defining the abilities of the company and resources needed to enter a market Analyzing competitors on their resources and skills Considering the companys abilities compared to the competitors Deciding on the actual target markets.
Segment 1 single segment with a single product SUPPLIER
Segment 2 Segment 3
The first is the single segment with a single product. For example, Titans sub brand, Raga is targeting the upwardly mobile ladies in
the upperpremium segment.
Segment 1 One product for all
segments
Segment 2
Supplier Segment 3
Secondly, the marketer could ignore the differences in the segments, and choose to aim a single product at all segments i.e. the whole market. SONATA
FAST
TRACK
Supplier
Brand A Brand B Brand C Brand D
SEGEMENT 1 SEGEMENT 2 SEGEMENT 3
Finally, there is a multi-segment approach. Here a marketer will target a
variety of
different segments with a series of differentiated products. For example, Titan itself provides with
the number of different brands/products which are targeting different segments in the market
Positioning is statement that shows how you are different, better or more
special than your
competition. TITAN PERSPECTIVE
" Gifting watches Titan initially pioneered the concept of "Gifting
Titan pushed the concept of " Matching Watches to Clothes
astrack was targeted targeted at 20-25 year olds and positioned along the line Earlier Fastrack "Cool watches from Titan".The company re launched the brand brand lowering the target segment to 18-30 year olds with the baseline How many you have?".
GREAT TEAMS MAKE GREAT PRESENTATIONS
Criteria
Segment
Basis of distribution
Example
Demographic
INCOME
Between Rs (5001500)
TITAN Fast Track
Between Rs (15003000)
TITAN REGALIA,FAST TRACK,RAGA
Between Rs (5000-
TITAN EDGE
10000) Above Rs 10000
NEBUL LA TITAN NEBU
Criteria
Segment
Basis of distribution
Example
Demographic
GENDER
GENTS
TITAN FLIP
LADIES
TITAN RAGA
MARRIED COUPLES
TITAN BANDHAN
Criteria
Segment
Basis of distribution
Example
Demographic
life cycle Age and life
12-20
TIMEX, Sonata, etc
18-30
FAST TRACK,
GY,, TECHNOLOGY SONATA, etc. 30-55
SONATA, NEBULA, RAGA, STEEL, REGALIA, BANDHAN, etc.
Criteria
Segment
Basis of distribution Example
Demographic
SOCIAL CLASS
FASHION
TATEMENT STAT
FASHION
STAT TATEMENT BUT PRICE SENSITIVE
UTILITY WATCHES
ROYALE, AURUM, and NEBULA RAGA, TECHNOLOGY , FAST TRACK etc
TIMEX, SONATA, KARISHMA, etc
Criteria
Segment
Basis of distribution
Example
Psychographic
Life style
LUXURY
NEBULA, AURUM
Mid premium
RAGA, GOLD-STEEL, TECHNOLOGY
Mass
SONATA,TIMEX and KARISHMA
Criteria
Segment
Basis of distribution
Example
Psychographic
Personality
ECONOMY
TITAN KARISHMA
LUXURY
TITAN RAGA
SPORTS AND CASUAL
TITAN FASTRACK
FASHION
RAGA,NEBULA
STATEMENT
Criteria
Segment
Basis of distribution Example
BEHAVIORAL
OCCASIONS
FORMAL
NEBULLA, STEEL, RAGA, GOLD&STEEL
DRESSWARE
REGALIA, RAGA, GOLD&STEEL, ROYALE
FASHION
TECHNOLOGY GY,, STEEL, RAGA, GOLD&STEEL, FAST TRACK
Criteria
Segment
Basis of distribution
Example
BEHAVIORAL
benefits
WIDE SERVICE
SERVICE CEN TRE in 174 174 towns
HUGERANGE
FASTRACK,RAGA,
NEBULA,KARISHMA ETC GOOD LIFE CYCLE
FASTRACK FOR
YOUTH TO BANDHAN FOR MARRIED PEOPLE
