Case Study Titan
Case Study Titan
Consumer Motivation
Background
Titan Industries is worlds sixth largest manufacturer
of wrist watches and has 60% of the organized watch
market share in India. Titan started its operations in
1986. When it was launched, it was the third watch
company in India after HMT and Allwyn. Titan formed
a joint venture with Timex, which lasted until 1998,
and set up a strong distribution network across India.
Titan watches are sold in India through exclusive Titan
showrooms called The World of Titan and through
various franchisees and through retail stores.
Background Contd.
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 Hosur in
Tamil Nadu. Leveraging its understanding of different
segments in the watch market, the company launched a
second independent watch brand, Sonata as a value brand to
those seeking to buy functionally styled watches at affordable
prices. In addition, it focussed on the youth segment with its
third brandFasttrack. It has also launched premium fashion
watches by acquiring a licence for marketing global brands
such as Tommy Hilfiger and Hugo Boss, besides having in its
portfolio its first Swiss made watch brandXylys.
The Vision
The vision of Titan watches is: To be innovative,
world class, contemporary and build Indias most
desirable brands.
In line with this vision, the company focussed on
brand marketing rather than product marketing.
Watches were considered a functional product before
the entry of Titan in the market in 1986. Titan
changed the perception of watches from a functional
product to a personal product in the mindset of the
consumer to leverage its brand name and the
reputation of Tata.
Challenges Ahead
Titan has offered a range of products to cater to every
segment of the consumers. It needs to maintain the
image it has created over the years and preserve its
reputation for quality.
The company has taken a decision to organize various
training programmes for franchises, their managers and
customer relationship officers to maintain its standards of
high customer service.
Entry into designer watches is one more area of
development which can be pursued.