Titan marketing strategy. How Titan Watches is Still a Market Leader 2019-01-28

Titan marketing strategy Rating: 7,2/10 230 reviews

Titan mrktng strategy

titan marketing strategy

However this strategy can be applied mainly to the lower range or digital range of Titan's watches, as the concept of 'class' remains constant over a period of time. The company brought about a paradigm shift in the Indian watch market, offering quartz technology with international styling, manufactured in a state-of-the-art factory at Houser, Tamil Nadu. They also manufacture components for Precision Engineering works, with over 4000 employees spread over 3 business units in Bangalore, a manufacturing unit at Hosur and 3 assembly plants located in the north of India. The Indian watch market is estimated at 25 million watches a year, where the domestic sale is 6 million watches per annum. This study would help titan industry to understand the gaps in its communication strategy regarding brand repositioning exercises and the further measures to be taken for effective marketing communications. Jewellery: Ta n i s h q i s In di a s la r g es t a n d fa s te s t g r o wi n gj e w el l er y b r a n d w i t h a premium range of gold jewellery studdedwith diamonds or coloured gems and a wide range in 22kt pure gold. As the removal of quantitative restrictions on import watches leads to threat to titan.

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Project on Marketing Strategy of Titan Watches

titan marketing strategy

It is priced between Rs 4,000 and Rs 10,000. Do you have active social media accounts such as Facebook, twitter, Google+, YouTube, and others? Titan has several authorized outlets. These consumers would not purchase a watch without comparing various offers in the market. How do you rate after sales service of titan? It uses its resources in the best possible way. They are also realising that,unlike other forms of art that are meant to be admired, high-endjewellery watches have that added bonus: practical luxury with afunction other than beauty. It has also i n itsportfolio its first Swiss Madewatch brand — Xylys. Still, Titan successfully segmented its products according to customer values.

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TITAN MARKETING SOLUTIONS

titan marketing strategy

What is your overall perception about Titan showrooms? Titan Raga has watches starting from Rs. It is not intended to illustrate either effective or ineffective handling of a management situation. Market share: As we know that 70% of sales in watches come from the lower segment, therefore by pricing Sonata at 350 onwards with guarantee. Marketing Objectives: 89 Titan industries in watch hold 70% in domestic level and 60% in Share in organized sector market. The range offers affordable prices from Rs. From its future-focused strategy to its design innovations, its creative marketing approach to the strong supply chain, Titan, as a business, has relied on its ability to connect with customers and deliver what the customer needs. The market demand changes rapidly and therefore reposition can be necessary to meet these demands, newer and stronger arguments have to be established to convince them to stay as loyal customers.

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Marketing and Communication Strategy of Titan Industries' Watch Division

titan marketing strategy

Premium segment: As in premium segment Titan is getting threats from reputed international brand such as Espirit, Swatch and Citizen. Finally, I wish to express my gratitude to all those who have in one way or other helped me in the successful completion of my project report. Cultural Factors · Value, perception, and preferences · Nationalities, religion, race, geographical regions · Social class B. The most premium collection for this wedding season was unveiled by popular actor Gul Panag. One ones which are very popular lie in the range of Rs.

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Titan mrktng strategy

titan marketing strategy

The replacement rate of watch is 33. Demographic segmentation: 46 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. With its numerous sub -brands catering to different segments, the challengethat Titan fa cesis to create a strong brand image. In the end people want both global and 58 local brands - brands that make them feel part of wider international community and brands that root them in their home culture. All watches are highly water resistant, ranging from 50m to 100m. It has also premium fashion watches by acquiring a license for global brands such as Tommy Hilfiger and Hugo Boss, while.

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Marketing and Communication Strategy of Titan Industries' Watch Division

titan marketing strategy

Next, he is seen chasing the shadow of an aircraft on a beach, then, sitting beside a truck driver, in the middle of nowhere, with a trail of chassis trucks behind him. The Raga and Silver Raga collection is elegant, delicate and feminine with each piece being truly unique. There were 100 different models in the range. · Loyalty Status: The loyalty status of a particular market can be divided into different groups, according to the intensity of their loyalty to these brands. For example, Sonata and Fast track brands of Titan are targeting mass and mid premium segment. The target audience for this watch,in the 20-35 age groups include working adults and postgraduatestudents of both sexes in metros and mini metros.

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Marketing and Communication Strategy of Titan Industries' Watch Division

titan marketing strategy

Resources and efforts will be targeted at the: A The first is the single segment with a single product. All our web design services are executed with our clients visions and goals in mind, while presenting the best optimized on-line presence. Titan Sonata is one of the highest selling watches in India, despite its stylish looks and amazing features it is affordable and offers long lasting value to the consumers. Its association with Titan in India led to wrong segment targeting. Product line: To increase the sales, the differences in the prices of the watches are justified by the features. And there is a craze for stylish wristwatch.


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About

titan marketing strategy

Here, he asks the viewers to try the adventure of getting off at an unknown station, of exploring unknown lands. Figure 1: Titan sub-brands possessed by respondents Table No1: Titan sub-brands possessed by respondents S. Marketing pricing: As by opening new shops such as the world of Titan — buy directly from the dealer and hence the element of middleman is not there. In which media have you seen the advertisement? For whom it is about the determination of the consumer of a brand or target group 4. Why which benefits and advantages does the new brand bring to the consumer 2.

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