Titan STP
Titan STP
Titan STP
and
POSITIONING
OF
TITAN INDUSTRIES
”BE MORE”
Submitted by
Biswas.B.C
Sreeju
Seema Rani
Rahul Chakraborty
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Vivek.P.N
Krishna Raj
SEGMENTATION
TITAN
Titan had traditionally focused on premium segment , in the late 90s Titan
segmented the market in to different groups based on different parameters.
➢ Demographic segmentation:
In this the market is divided into groups on the basis of variables such
as age, family, size, life cycle, gender, income, occupation, education,
religion, race, generation, nationality, social class. These variables are
the most popular basis for distinguishing customer groups. The
following are some of the demographic variables used to segment the
market:
TITAN PERSPECTIVE
Titan markets its products for all following age groups:
➢ Less than 12 : Dash, Zoop.
➢ Between 12-20 : Dash, Fast Track, Sonata, WWF.
➢ Between 18-30 : Fast Track, Flora, Sonata, Raga,
Edge, Bandhan, WWF,
Nebula, Octane, Technology, Spectra,
➢ Between 30-55 : Edge, Nebula, Raga, Steel, Xylus,
Regalia, Automatic,Heritage,
Bandhan, Orion, Exacta, Royale,
Insignia.
➢ Above 55 : Regalia, Classique, Sonata.
TITAN PERSPECTIVE
Titan markets its product across:
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➢ Gents : Automatic, Octane, Orion,
➢ Ladies : Raga, Raga Diva, Flora, Nebula, Heritage,
➢ Married couples : Bandhan
TITAN PERSPECTIVE
Titan offers its products with a price range to suit the different
income groups such as:
➢ Low ( 1 lakh) : Sonata,
➢ Lower Middle (1 to 2.5 lakhs) : Fast track, Regalia,
➢ Middle(2.5 lakhs to 4 lakhs ) : Steel, Fast track Ladies, Raga
➢ Upper Middle( 4 to 6 lakhs) : Nebula, Edge, Steel.
➢ High ( Above 7 lakhs) : Nebula, Xylus, Bandhan, Insigna
TITAN PERSPECTIVE
Titan has many products to satisfy all the generations. And
through constant innovation Titan developed many products for new
generations too.
TITAN PERSPECTIVE
Titan has realized the demand of the society and has marketed
its products for each of the following social strata.
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These products have specialties like European leather,
sapphire crystal, scratch resistant, crafted with 18 ct. solid gold &
inlaid with precious stones.
Example : Fast Track, Royale, Aurum, Nebula
➢ Psychographic:
Buyers are divided into different groups based on personality, values,
belief, lifestyle, motivation, etc. People within the same demographic
group can exhibit very different psychographic profiles.
TITAN PERSPECTIVE
According to the life style of people Titan has segmented
it’s product to fit the box. Like in the luxury section it has
Nebula, Aurum etc. In the mid-premium section Raga, Gold
-Steel, Technology etc. And in the mass section, it has
Sonata, and Karishma.
TITAN PERSPECTIVE
Titan advertises its products by portraying movie stars as
user of its products and it offers a lot of option to its
customers.
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For example:-
In economy category, 60 products
In luxury category, 26 products
In sports & casual category, 76 products
In fashion category, 99 products
In formal category, 14 products
➢ Values : Values affect customer behavior in the long run.
Marketers can use values and beliefs to segment the
markets.
TITAN PERSPECTIVE
Time has the same value for all irrespective of cast, creed
and sex. Still, Titan successfully segmented its products
according to customer values. But it is basically related to
type of generation they are in to. So, the segmentation is
also related to that.
VALS NETWORK
INNOVATORS
IDEAL Insignalia, Automatic
ACHIEVEMENT SELF-
S EXPRESSION
THINKERS ACHIVERS
Steel XylusEXPERIENCERFast track Octane WWF
Orion Edge Bandhan
BELIEVERS STRIVERS
Raga
Heritage Nebula
SURVIVOR
Steel, Flora MAKERS
Sonata,
Dash, Zoop Royale
2. Thinkers
Steel, Orion.
Under this category people are matured enough and try to find out the
functionality in the goods. These products are known for their durability,
Functionality and Value in products.
3. Achievers
Xylus, Edge, Bandhan.
In this category titan has tried to fulfil the desires of those people who
are focused on family and career. All these three models come under this
category to satisfy the requirement of a premium product.
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4. Experiences
Fast track, Octane, WWF
` This group consist of mostly enthusiastic youngsters. These watches
are created to attract the trendy users today. These are really tempting
the youth as well as others. These people are always searching for
variety and like to experience the new trends.
1. Believers
Raga,Herritage
All those who have a very conservative kind of thinking process people
fall into this group. These people are traditional and conventional , so
they don’t want to experiment more and are sticking to the traditional
things.
2. Strivers
Nebula
Titan has designed this product for those who are trendy and fun
loving and resource constrained . Here the nebula is made up of 18k gold
and precious stones.
3. Makers
Sonata,Dash, Zoop, Royle
,
These models suits those who are humble and down to earth kind of
people. They are not too much bothered about the fashion and other
aspects of the watch, but he functionality of the watch.
4. Survivors
Steel, Flora
Lastly in this category those people who are elderly and who are loyal
to their favourite brand are included. This catered to all kind of people but
always been the favourite of the elderly people and those who don’t want to
change their preferences.
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➢ Behavioral
Organizations can divide markets on the basis of behavior that
consumer shows towards the usage of the products. Various
variables for segmenting market on the basis of purchase behavior
of customers are occasions, benefits, user status, usage rate,
loyalty, etc.
➢ Occasions : Markets can be classified on the basis of various
occasions that customers encounter because
people need different products for different
occasions.
TITAN PERSPECTIVE
Titan also offers occasion specific products like Formal
(Nebulla, Steel, Raga, Gold & Steel), Dress wear (Regalia,
Raga, Gold & Steel, Royale), Fashion (Technology, Gold & Steel,
Steel, Raga, Fast Track)
TITAN PERSPECTIVE
Titan product has benefits like:
➢ It provides the”TITAN WORLD” SERVICE CENTRE
in 174 towns.
➢ It provides a huge product range to choose from.
➢ It’s products have good life cycle.
TANISHQ
➢ Demographic segmentation:
TITAN PERSPECTIVE
Titan markets its products for all following age groups:
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a) Between 14- 20 : Design Accolades, Fashion
Earrings,Bangles of India, Solo, Daisy,
Paheli
b) Between 20-30: Moham, Aria, Zoya, Diamond Collection,
Punjabi wedding, Wedding collection,
Nuvo
c) Between 30-50 : Kundan and Polki, Colours of Parity,
Diamond Collection, Ivy, Aqua
d) Above 50 : Colours of Royalty, Ivy.
Niche Marketing
After its inception in 1995 focus on exports, Tanishq's designs
had been
conceptualized for the Western markets and were introduced in
India without
any alterations. Tanishq positioned itself as an international
brand for the
Indian elite. The brand was targeted at a niche market (However
they later
on started targeting the mass marketing since 1997).
Psychographic Segmentation
Life Style:
Tanishq has found that 40% of the Indian women are working
and
they targeted this segment wth a specific group of products
called collection-
G, a 9-to-5 jewellery for the working women.
Geographical Segmentation
Titan realized that, given the diverse nature of Indian ethnicity, it
would have
to satisfy the tastes of all regions. So, the designs became more
ethnic. Titan
also decided to transpose designs by stocking Bengali designs in
Delhi,
Keralite designs in Tamil Nadu and typical designs from Tamil
Nadu in
Bombay in order to appeal to a variety of people.
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FAST TRACK
➢ Based on price
· Mass (Rs.350-800) - Essentials, Bikers, Fall
· Popular (Rs.800-1200), - Bikers, Summer 08
· Premium (Rs.1200-1800), - Bikers Reloaded, Summer 07,
Sports, Campus,
· Super-premium (Rs.1800-2500) - Army, Sport
TITAN PERSPECTIVE
Titan markets its product across:
➢ Gents : Army, Bikers, Bikers Reloaded, Fall
➢ Ladies : Essentials, Fall
➢ Unisex : Sports, Summer 07, Summer 08,
Campus,
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TARGETING
After the market has been separated into its segments, the marketer will
select a segment or series of segment and ‘target’ it/them. Resources and
efforts will be targeted at the:
Titan
A. The first is the single segment with a single product. In other word, the
marketer targets a single product offering at a single segment in a
market with many segments. For example, Titan’s sub brand, Raga
is targeting the upwardly mobile ladies in the upper
premium segment.
B. 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. For
example, Sonata and Fast track brands of Titan are targeting mass and
mid premium segment. Example : Sonata, as it caters to all segmentation.
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C. 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. Following is the table which represents the
various sub brands
and their targeted segments of TITAN .
➢ FAST TRACK
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lap timers, hourly chime, alarm and Hi-light glow.
Price : Rs.550-1,430
Category Aimed at : Urban 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
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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.
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➢ 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 : 20,000-85,000
Category Aimed at : Upper Class
Fast Track
➢ Eye wears
Fast track eye wears are obviously targeting the urban youth. That is
the college students between 18 and 22 years and an extended
audience of 15 to 25 years. Fast track is understanding the needs and
limitations(in terms of money) and mentality of targeted group.
➢ Eye +:
The range of products that Titan Eye + offers include eye-glass frames,
lenses, contact lenses, sunglasses that follow the international designs
and style trends. Titan Eye + also provides an array of optometric
services. The friendly environment at the stores and the specially
trained retail as well as clinical staff make the customers’ experience
pleasant and productive
Fast track is aiming to re-define eyewear and fortify the industry with
quality standards, unparalleled in the history of India’s eye-care
industry. Given the importance of vision to quality of life, Titan
Industries foresaw the need to venture into the realm of optometry and
establish a presence in clinical optical expertise. First steps were a
technical collaboration, under which Sankara Netharalaya ably trained
the clinical and retail staff. Titan Fast Track stores are now staffed with
professional optometrists who deal with every eye-care requirement –
be it a need for prescription eyeglasses for distance or
nearsightedness, reading, vision correction, contact lenses or eye
protection. Titan Fast Track stores are equipped to fill prescriptions for
single vision lenses, progressive no line or bifocal lenses.
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Tanishq
➢ Colours of Royalty
Zoya
Moham
Aria
Mysteries of love; Mysteries of passion; Mysteries of envy; Bewitching;
Fascinating; Enchanting; Hypnotizing; Sensuous; Captivating
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Kundan and Polki
POSITIONING
TITAN PERSPECTIVE
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Titan initially pioneered the concept of "Gifting watches". The ads
captured the essence of gifting and along with the trendy music, easily
caught the imagination of the market.
Customers who were fed up with ugly time machines welcomed the
brand and Titan had a dream run for many years. Titan then moved
away from gifting. Titan was positioning itself as a fashion accessory
rather than a time keeping device. Titan also found its persona in Mr.
Aamir khan which provided the much needed edge to the brand. Titan
was careful in keeping the brand above the celebrity. The ads were fresh
and neatly executed. The idea was to make watches that would be
seen as style and fashion accessories rather than just utilitarian
devices. The company decided to use Aamir in brand and product
communication on television and in the print and outdoor media.
Though, the vast distribution and service network of TIL had served as an
effective entry barrier in the 1990s, foreign brands were becoming
increasingly popular in the early 2000s, thanks to the paradigm shifts
in the retail scenario and the growing affluence of the Indian
consumers.
And TIL found that it was not safe even at the bottom of the
pyramid. The grey market with cheap Chinese imports and the
unorganized sector had cornered a sizable chunk of the low-end
market. The appointment of Aamir Khan as brand ambassador for
the Titan brand was seen as an attempt to broad base the appeal of
the Titan brand.
Earlier Fastrack was targeted at 20-25 year olds and positioned along the
line "Cool watches from Titan". Then the company found out that the
youth in the age group of 11-20 years account for 42% of watch buying in
India. Based on this insight, the company relaunched the brand
lowering the target segment to 18-30 year olds with the baseline “How
many you have?". Again the strategy aimed at promoting the multiple
watch owning concepts. Fastrack also launched a range of fashion
accessories like Sunglasses trying to be a lifestyle brand.
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Positioning According to Product
WATCHES
➢ Raga
“The slimmest watch in the universe”
All good things are packaged small. Or we can say they are packaged
slim. Titan presents a large range of Titan Edge watches –the slimmest
in the world. Clean –cut, elegant designs that speak of who you are. Go
ahead , choose a style that says so much with so little. And you can
see it is adding an edge to your persona.
➢ Orion
A unique range of watches inspired by the astral wonders of the
universe. The collection celebrates the intelligence and masculinity of
today’s men.
➢ Octane
“Be speed, Be more”
A range of high octane sports watches personifying speed and power
with multi-functions, retrograde, analog-digital and chronograph.
➢ Nebula
Inspired by the noble metal. Titan presents a classic collection of
stunning jewelry watches-NEBULA. Crafted superbly from 18 karat solid
gold and inlaid with precious stones, each piece comes with a lifetime
guarantee.
➢ Zoop
Titan presents Zoop- timepieces for young stars. Take your pick from
floral, butterfly, duckling, and base ball themed watches or go digital
with features such as dual time, countdown timer, 50 yr calendar,
compass, stopwatch, alarm, EL backlight and more.
➢ WWF
Titan & WWF have joined hands to celebrate the beauty & behavior of
six endangered species with the launch of six new animal themed
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watches. A part of the proceeds from every watch sale is contributed
to WWF towards the preservation of these animal.
➢ Raga
“Unveil the real you, Be more”
The magic of ornate motifs and blushing enamel casts a spell on you.
From intricate dials glowing with inner radiance, to delicate bracelets
that flow around you in familiar embrace. The essence of woman,
Revealed at last.
FAST TRACK
➢ Titan Fast track is positioned as an essential thing for the trendy youth
of today. With its special offerings it is really serving the urban youth.
Its strongest offerings are availability and affordability.
➢ Fastrack has now chartered into newer categories – bags, belts, wallets
and wrist bands – as part of its vision to become a complete fashion
brand for the youth. With enough categories to fill up one cool store,
Fastrack has ‘moved on’ to open its own stores for its young
consumers. The store is positioned as a complete accessories
destination with all Fastrack gear under one roof.
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offer products and services of international quality standards coupled
with transparency in pricing, style, and upbeat designs.
Tanishq
➢ Colours of Royalty :
Coloured jewelry corrected the impression of tanishq having only
modern design
➢ Aarka:
Positioned thanishq as high fashion 22 karrat gold collection
➢ Fashion earrings:
A collection of studded jewelry , an attempt to move tanishq from
being a traditional studded collection.
➢ Luxury
○ Tanishq also has been positioned as a branded jewelry of luxury
rather than commodity. It moves jewelry beyond investments to
the fashion and adornment sector.
○ Superionr Product
○ In order to compete with the regional players tanishq introduced
the concept of ‘consistency in delivering promise’
○ Tanishq is known for its ability to develop specialized design
collection
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○ It is the only jewelers that houses a full fledged design studio
with a team of several international award winning Indian
designers.
○ Offer a totally new perspective to jewelry buying especially when
it comes to exquisite oriental jewelry.
BCG MATRIX
It is used to identify how corporate cash resources can best be used to
maximize a company’s future growth and profitability
Sonata
COW Raga
Flora
Heritage
DOG
A. Stars
For titan the star is undoubtedly the fast track. Since titan is
promoting Fast Track than any other product and it gives high
revenue in return the star is Fast Track.
B. Cow
Sonata was a star of yesterday. Today without spending much on
sonata they are getting high profits from sonata( Sonata is the
most selling watch in india)
C. Question
These can be the stars, cow or dogs. Here the Edge and Xylus
were launched recently and the company is spending good
amount of money in these products. But it is too young to predict
the future.
D. Dog
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Though titan is not having any product as dog, these two
products are comparatively less in sales. And Business is
situated at a declining stage.
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