- Watches prior to Titan
1. HMT Ltd.(HMT)
2. Hyderabad Allwyn Limited (Allwyn)
3. Electronics Corporation of Tamil Nadu (ELCOT)
4. Semi Conductor Complex Ltd. (SCL)
In 1986, Titan Watches Ltd. (Titan) a joint venture of Tata Sons and Tamil Nadu Industrial Development Corporation entered the market and shortly established itself as a major manufacturer.
At present, Titan is the leading watch maker in India and the sixth largest in the world. It has a 25% majority share of the total market and has diversified into other lifestyle products like gold jewellery and sunglasses.
The Titan brand architecture comprises several brands, each of which is a leader in its segment. Notable among them are: Titan Edge – the world’s slimmest watch; Nebula – in solid gold and precious stones; the Gold and Steel collection; Raga 9 to 5 – for the woman achiever; Flip – India’s first and only reversible watch with two movements and dial faces; Fastrack in the sporty casual category; and Xylys for the hi-end connoisseur and new age achiever.The company has also diversified into sunglasses and jewellery watches.
The various segments created by Titan are spread across a wide range of prices. It starts at less than Rs 500 for Sonata to more than Rs 10,000 for its premium segment like Xylys and Regalia.
This helps to offer variety and flexibility to the consumer who can choose between style and value-for-money.
The Fastrack Eyewear brand, which is the fastest growing brand for Titan, is priced attractively for the urban youth between Rs 695 and Rs 1995 while the watch collection is priced between Rs 500 to Rs 2000.
Titan has an exclusive retail showroom chain – World of Titan – which is amongst the largest in its category. Titan watches are sold through over 9,000 outlets in over 2,300 cities and internationally in over 30 countries including the UK, Spain, Greece and countries in the Middle East and Asia Pacific. Titan’s retail operations are a mix of company-owned and franchisee outlets, with the idea being to ensure a dominant presence in all market areas through different kinds of stores, and to assure the availability of every Titan product.
Besides the franchisees and its own showrooms, Titan sells its products through other outlets as well. Among them are the Time Zone stores, which stock all the leading brands, and the Value Mart outlets, which operate in Bangalore and Chennai and sell surplus-to-export watches at a discount.
Some brands like Fastrack, Nebula, Raga and Gold and Steel sell only through Titan’s own showrooms.
Titan entered the market through melodious advertisements based on Mozart's 25th symphony. The tune became synonymous with the brand, Titan in the years to come. While the earlier commercials would focus on the tune while keeping the product presentation towards the end, the newer commercials are more product-oriented while the tune plays in the background.
Titan’s old proposition of “gifting a watch” has been replaced by “a watch for every mood” which showcases its wide variety of watches for every segment. While the old commercials would look for an emotional connect with the consumer, the new ones have a professional and stylish feel.
The Aamir Khan advertisement on television focuses on the style aspect of the Titan Brand:
What does the Ad show?
Aamir is packing to leave for somewhere. His assistant brings his collection of watches to ask which ones he should take out for his trip. Aamir Khan starts to match the watches he likes for each of his suits. Later on he end up adding more suits to his baggage to accommodate more watches he like and finally end up selecting all his suits and all his watches to go with him on his trip!
Catch more about Titan Branding in my next post
Wednesday, August 8, 2007
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