TIMEX VS TITAN NIKITA NIKIT A MAJIMAJI- 8025 PAR ARUL UL ± 8018 SHAG SH AGUN UN ± 8025 URVASH URV ASHII - 8013
OBJECTIVES MARKETIN G STRATEGIES MARKETING STRATEGIES BY DIFFERENT DIFFEREN T WA WATCH BRANDS BRAND S IN INDIA. IND IA. TITAN OR TIMEX? WHOSE CAPTURING A GREATER MARKET SHARE. INDIVIDUAL IDUAL STRATEGIES. STRATEGIES. INDIV WHAT T ARE THE TH E CONSEQUEN C ONSEQUENCES? CES? WHA RECOMMEMDA DATIONS TIONS FOR THE RECOMMEM COMPANY COMP ANY HAVING HAVING LOW L OW MARKET SHARE.
TITAN BE MORE
One of the giant gods in Greek mythology who preceded the Olympian gods. The largest moon of the planet Saturn. World's fifth largest and India's leading manufacturer of watches. The Titan portfolio has over 60% share in the domestic market share. The company has showrooms in every nook and corner of the country
that caters to the needs of every segment of the people.
TITAN
FOUNDED IN: 1987
HEADQUARTERS: India
AREA SERVED: 4 continent and 32 countries India and other countries esp. Middle east, Asia Asia Pacific and a nd Africa Africa
Has Customer base of over 80 million.
INDUSTRY: Watches
PRODUCTS: Watches, Jewellery, Eyewear & Precision Engineering
EMPLOYEES: 3,000
PARENT COMPANY: TATA
AWARDS ACHIEVED The company has been awarded aw arded the following distinctions:
No.1 Brand in the Consumer Durables category in the "Brand Equity" Survey of The Economic Times
Won the Young Design Entrepreneur Entreprene ur of the Year at the Nationa Nationall Institute of Design and Business World
Retail Asia and Media Magazine ± Singapore adjudged Titan Industries as amongst the leading Retailing Companies in India.
Titan has won the Brand Leadership award at the India Brand Summit.
The
Time Products Division of the company was wa s awarded the JRD QV Award in 2006.
Vision
To be a world-class, w orld-class, innovative and progressive organizatio organization n and to build India¶s most desirable brands.
Mission
To create wealth for all our stakeholders by building highly successful businesses based on a customer customer-centric -centric approach, and to contribute con tribute to the community community..
Values
and Standards
Total customer orientation
Employee appreciation
Performance culture and teamwork
Creativity and Innovation
Passion for excellence
Corporate Citizenship
Strategies Innovation Quality Creative
Advertising
y
Aamir Effect
y
µCatalogue¶ Advertising
Retail
Stores
Cutting
Edge Technology
Cutting Edge Technology
The Design Studio: ± ±
Excellent Excell ent Wat Watch ch and Jeweller Jewellery y des design ign.. Has interna international tional award winning design designss to its credit. credit.
Sophisticated Design & Development Centre dvanced ed ± Advanc
Pro-E workstations workstations and prototyping prototyping facility.
Every Ford Mondeo car rolling out of the plant in Genk, Belgium has a Titan Clock.
BRAND POSITIONING STRATEGIES
Attribute Positioning: Positioning:
First to bring Quartz watches to the Indian market. This helped to penetrate the market and gain a market share. Raga, Classique and Regalia
Benefit Positioning:
The Fastrack Digital range offers the customer a functional func tional watch that is attractive and has superior style.
Competitor Positioning: Positioning:
With the entry of Omega, Tissot Tissot etc into the market who are catering to the upper end of the market mark et titan has tried to reposition itself by increasing the price range.
Quality or Price Positioning:
In Indian market, Sonata is a perfect per fect example of Price positioning, titan came up with this segment when it was facing heavy competition.
BRAND AMBASSADOR
Retail Stores Of titan 10000 Dealers 177 Showrooms
616 Centers
ALL INDIA
2300 Towns
World Of Titan
104 Towns
Service Centers
314 Towns
Market Capitalization (Rs. in Cr.) Market Cap. 5000
4400
4000
5300
3530
3000 2000 1000 0
Crossed Billion $
1018 218 200203
500
200304
200405
200506
2006- May-08 07
Domestic Level- HMT Maxima-quartz Casio
International level- Espirit Swatch Citizen Tag Heuer Seiko Cartier
Marketing Mix (4P¶S)
Edge Raga Oc t a n Zoop WWF Heritage Orion Nebula Sonata Exacta Spectra Dash Regalia Fastrack Royale Classique Xylus Eye + Titan Ban Bandh dhan an watche watches s It also markets Tommy Hilfiger watches under a licensing arrangement
Jewellery : Tanishq is India's largest and fastest Jewellery : growing jewellery brand with a premium range of gold
jewellery studded with diamonds or coloured gems. In India jewellery it has 102 boutiques across the country. · E ye ye
wear : Titan E ye+ wear : ye+ produces sunglasses under
Fastrack brand and prescription eyewear consisting of Frames, Lenses, Sunglasses, Accessories and Contact Lenses.
World Worl d of Titan Sho how wroo ooms ms Time Zon one e Tradi radition tional al Out Outlets lets Non No n Tra radi diti tion onal al Ou Outl tlet ets s
PRICING Pricing Objectives 1.
Survival (i.e. Titan Exacta)
2.
Market share (i.e. Titan Sonata)
3.
Market skimming skimm ing (i.e. Titan Titan Nebula)
4.
Product quality
Pricing method
PRICE
1.
Product line pricing
2.
Promotional pricing
Application Appli cation of pricing strategy
1.
Lower segment
Raga DivaRaga Diva- Rs 4000-950 4000-9500 0 Zoop- Rs 520 5200 0- 600 000 0 Nebul Ne bulaa- Rs 2600 260000- 85 85000 000 Octa Oc tanene- Rs 525 52500- 700 7000 0 Orio Or ionn- Rs 3200 3200-- 75 7500 00 Fastrack Fast rack-- Rs 500-4500 500-4500
2.
1000 plus segment
PROMOTION Advertising 2. Sales promotion 3. Public relation 1.
Public relation
Gift concept Promotion On Occasions
Titan brand ambassador :
Advertising media:
Titan Brand: Aamir Khan Sonata: Sona ta: Mahen Mahendra dra Sing Singh h Dhoni Dhoni Raga Ra ga:: Gul Pa Pana nag, g, Rani Rani Mu Mukhe kherje rjee e Xyly Xy lys: s: Rahul Rahul Bos Bose e Fastrack: John Abraham
Titan tagline: tagline: Be more Fast track tagline: How many you have?
Television Print Internet
Sales promotion
Sponsorship Seasonality Promotion through Contests
SWOT STRENGTHS Brand
image and company is Tata group
WEAK NESSES NESSES parent
Mark rket et se segm gmen ents ts wit ith h la larg rgee Ma potential: women, youth, children, sportsmen, the budgetconscious , the big spenders. Customer value and offered
after sales service showroom environment
in
orld ld¶¶s Wor
wat atch ch
5th manufacturers
larg la rges estt
Analysis
Popular brand ambassdors
a
High
price for jewelley
Lack of scope in entering south indian market
Servic Ser vice e centres centres are rare
Less
number of low priced products
OPPORTUNITIES
Currently, sales in India stand at an low number of 25 watches per 1,000 people, compared with 250 watches per 1,000 people in a developed society. Exchanging offer Rural market Continous innovation different festive occasions
THREATS Too
many players will dilute the market & the profit margin Low priced China watches Mobile phones. Government rules and regulations
Segmentation of Indian Watch industry Based on price Mass (Rs.350-600), · Popular (Rs.600-900), · Premium (Rs.900-1500), · Super-premium (Rs.1500-8000) · Connoisseur segments (above Rs.8000) ·
Based on user category
Men¶s watches · Women¶s watches · Youth watches · Kids watches · Sports watches ·
POSITIONING Tit itan an ha has s be been en po posi sittio ione ned d as a pr prem emiu ium m br bran and, d, pr prov ovid idin ing g hi high gh qu qual alit ity y pr prod oduc ucts ts Tit itan an in init itia ialllly y pi pion onee eere red d th the e co conc ncep eptt of "G "Gif ifti ting ng wat atch ches es". ". Customers who were fed up with ugly time machines welcomed the brand Titan. Re-- Po Re Posi siti tion onin ing g as a fa fash shio ion n ac acce cess ssor ory y. Watches were perceived as a onetime buy and consumers seldom owned multipl mul tiple e wa watche tches. s. Titan pushed the concept of f ""Mat atch chiing Watc tch hes to Clothes" in the recent commercials.
Introduction : WWF, Orion, Zoop, Diva, Octane Growth: Nebula, Insignia, Raga, Royal, Royal, Regalia, Edge etc
Maturity: Sonata, Fastrack, Dash Decline: Aqura
Michael Porter Model
JOINT VENTURE WITH TIMEX TITAN HAD TITAN HA D A 5 YEAR COLLABRAT COL LABRATION ION W ITH TIMEX. BOTH THE COMP C OMPANY ANY MERGED TO GRAB A BETTER MARKET SHARE. AFTER ACHIEVING THEIR RESPECTIVE POSITIONS THEY DECIDED TO PART AWAY. THEIR DEAL ENDED ON 23 RD DECEMBE DECEMBER R 1997. 199 7. TITAN IS NOW W ORKING AT TITAN AT A HIGHER POISITION AFTER THE SPILT UP BUT ITS STILL SEEN THAT TIMEX WAS WORKING UNDER THE NAME OF TITAN.
timex
Since 1854
TIMEX Timex began life in 1857 as the Waterbury Clock Company, specializing in grandfather clocks. The company's highly developed R&D and its knowledge of mass production productio n techniques techniques led to the creation of the world's world's first personal watch - the Timex. Today Timex Timex Corporation Corpora tion employs over 7,500 people p eople across four fou r continents
TIMEX WORLD
In market since 150 years Ranked No. 1 in U.S.A in 2001
Largest selling brand in U.S.A & Canada
Focus- Qua FocusQuartz rtz based based wrist wrist watches in India.
Lowest cost watch manufacturer in the world.
TIMEX Mission Statement
Bringing innovation and reliability to a broad consumer base.
Timex is committed to staying relevant to today¶s tod ay¶s changing consumer and lifestyle needs by: Creat Creative,tec ive,technologic hnologically ally
advanced product design design Incorporating an accessories focus in our approach Bridging active and healthy lifestyle needs Bringing technology closer to the sports consumer
SEGMENTATION o YOUTH o KIDS o HI HIG GH EN END D o FAS ASHI HION ON o SP SPO ORTS
TIMEX PRODUCTS
PRICE Timex Chronographs T27601 Timex Formals A047 Timex Formals LX00 Timex watch EJ04 Retro Range Timex Steel UT09
Rs. 5,595 Rs. 835 Rs.1485 Rs.400 Rs.1345
PROMOTION Timex -The Official Timekeeper India Open2006
Timex amongst Top 50 power brands in the US.
Timex introduces special offer this Valentines for Cupid Struck hearts
TIMEX Brand Ambassador Brett Lee unveils the "new look" TIMEX in 2009
Timex is the official licensors of the ICC cricket world cup in India Ind ia in 2011.
PLACE
Tra radi diti tion onal al Ou Outl tlet ets s (o (onl nly y 6) THE TIME WALK
Non No n Tra radi diti tion onal al Ou Outl tlet ets s
20 service centers in India
TIMEX GLOBAL MARKETING Keep on Dashing. Keep on Pushing. Keep on Daring. These messages are designed to keep Timex on the minds of consumers. The visual style is hip, contemporary co ntemporary,, fresh and universal. Leaving little doubt that Timex Timex is an up-to-date, 153 year old company.
LOOKING TO THE FUTURE The
Nai l Watch Nail Watch
known as the TX54. The nail watch is designed to be hooked to the thumbnail.
The user will be able view the time in the dark just by pressing the tip of the nail
it¶s waterproof as well
Joint Venture Venture with titan
No differentiated marketing strategy for India
Name of the showroom
omparis rison on C ompa
- Tit itan an an and d
Timex Celebrity Price Distribution channel Advertisements Parent company Matching watches to clothes vs. sports watch Large product line R & D
RECCOMENDATIONS
PRODUCT
Should make more designs trendy watches for the gen x
More variety for girls¶ watches.
Should launch a different different product line E.g.. Eye wear, wear, bags, laptops .
Better CRM-increase in consumer affluence Attractive packaging
PROMOTION
Using Indian celebrities in the ads which focus on Indian context context like festivals.
Funny or impressive punch line.
Special offers.
Colorful banners.
RECCOMENDATIONS o
PRICE youth watches between Rs.500-1800 sports watchwatch- Rs12 Rs1200-60 00-6000 00 men¶s and women¶s collection- Rs800-6200
PLACE Increase the the number number of Exclusive outlets Name the showroom under the name of TIMEX
THANK YOU
