A Project On Brand Repositioning Strategy of Titan Watches

YMT’s College of Management
“STUDY OF INDIAN WRIST WATCH INDUSTRY AND

REPOSITIONING STRATEGY OF TITAN WATCHES”
A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF

THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF
MASTER OF MANAGEMENT STUDIES

(2007-2009)
Submitted By
Anuranjan Jee
Roll N0.-24
Under the Guidance of

Prof. Sachin Deshmukh
H.O.D. (Marketing)
YMT’s COLLEGE OF MANAGEMENT

Institutional Area, Sector-4, Kharghar,
Navi-Mumbai (Maharashtra)
University of Mumbai
[1]
GUIDE CERTIFICATE
This is to certify that Mr. Anuranjan Jee, Roll No-24, student of Master of
Management Studies, II year, YMT’s College of Management of Mumbai University
has completed his work “Study of Indian Wrist Watch Industry and
Repositioning Strategy of Titan Watches” under my guidance and supervision for
the fulfillment of the MMS curriculum of YMT’s College of Management, Mumbai
University for the academic session 2007-2009.
To the best of my knowledge and belief, this work contains true and complete
information collected, studied and compiled by the student himself.
Prof. Sachin Deshmukh

H.O.D. (Marketing)
[2]
CERTIFICATE
This is to certify that Mr. Anuranjan Jee, student of Master of Management Studies-II
Year of YMT’s College of Management has completed the project work titled “Study
of Indian Wrist Watch Industry and Repositioning Strategy of Titan Watches”
as partial fulfillment of the requirement of the course curriculum of Mumbai University
for the academic session 2007-2009. The work has been found satisfactory to the
extent that it is accepted as a perquisite to the degree for which it was submitted.
It is however understood that the undersigned do not necessarily endorse any

conclusion drawn or opinion expressed therein, but approve the project for the
purpose for which it is submitted.
Prof. Sachin Deshmukh Dr. C. Babu
Project Guide Director
ACKNOWLEDGEMENT
[3]
With great pleasure and a deep sense of gratitude I hereby acknowledge everyone
who provided me with their help, assistance and sustained support without which,
even if I have had done this work, it would not have been as it has turned out to be.
Their enlightened feedbacks and directions can be sensed as the project moves on.
I am sincerely thankful to my project guide, Prof. Sachin Deshmukh, who

provided me with all the theoretical and practical inputs for my project. Without his
thoughtful support this project would not have been completed.
I would like to use this privilege of mine to recognize the gratuitous help of Mr.
Chetan Anand (Regional Manager, Marketing, North Division, Titan), who gave me
an insider view of the world of Titan.
Primary data collection for the project was done with the help of junior
management students from colleges across Navi Mumbai. I thank them all for their
valuable time and considerate assistance.
Anuranjan Jee
02/04/2009
PREFACE
Today, a wristwatch is considered as much of a status symbol as a device to tell

time. In an age when cell phones and digital pagers display tiny quartz clocks, the
[4]
mechanical wristwatch has slowly become less of an object of function and more a
piece of modern culture. The Indian watch industry began in the year 1961 with the
commissioning of the watch division of HMT. The first watch model manufactured by
HMT was the Janata model in the year 1962. HMT was the leader in the watch
market till the Tata’s formed Titan Watches in association with Tamil Nadu Industrial
Development Corporation in the year 1987. Titan was the first company to launch
quartz watches in India.
The Indian watch market is today of 40 million units, out of which 60% is in the
unorganized sector in which the maximum number of watches are sold are below
Rs.300. Quartz watches form two third of the organized sector and the rest is split
between mechanical and digital watches. Even in the organized sector, three fourth
of the sales by volume comes from watches that are priced below Rs.1000.
Watch is one of the consumer durables whose replacement rate is very high.
The replacement rate of watch is 33.8 %( Source: India market demographics report,
1998). This is also due to the fact that the estimated scrap rate of wrist watches is
7.8%, which is applicable after 6 years (Source: India market demographics report,
1998). So, due to high scrap rate, outdated models, and the shift from the
mechanical watches to the quartz watches it is causing a very high replacement
demand for watches. This along with the low penetration level represents the
untapped market potential for watches in India.
After liberalization of Indian economy in 1992 many international players have

entered the Indian Watch market posing as competitive threat to the Indian
companies.
Lately Titan has tried to reposition its Brand to capture more segments of the
watch market retaining the already served market segment. The strategy has been
studied in deep during the project.
Executive Summary
Many brands and companies are constantly reinvigorating their businesses

and positioning them for growth. There is a constant need to innovate, reinvigorate,
[5]
update, recalibrate, or just simply fend off the competition in an effort to better
explain "why buy me."
Brand positioning creates a specific place in the market for the brand and
product offerings. It reaches a certain type of consumers and delivers benefits that
meet the needs of several key target groups and users.
The actual approach of a company or brand's positioning in the marketplace

depends on how it communicates the benefits and product attributes to consumers
and users. As a result, the brand positioning of a company and/or product seeks to
further distance itself from competitors based on a host of items, but most notably on
five key issues: Price, Quality, Product Attributes, Distribution, and Usage
Occasions.
In recent times, consumerism has undergone a sea change. Consumers

today are well informed about the products, as compared to earlier times. Hence, the
marketplace has become customer centric. Recognizing the importance of the
customers in the business structure, companies have started effecting brand
repositioning exercises on a regular basis.
In the recent times, a major brand repositioning exercise has been planned by
Titan Industries Ltd. in order to provide more to its customers. The company has first
gone for change in logo and tagline. Then the communication strategy has been
revamped to convey its new position. The present study consists of reviewing the
positioning strategies of Titan watches. An analysis of repositioning strategies of
Titan also forms part of the study.
The main objective of the study is to broadly understand the overall wrist
watch industry in India. Secondarily to study the brand positioning and re-positioning
strategy of Titan wrist watches and to find out whether the loyal consumers of titan
watches are aware of the new positioning strategies of the company and how they
perceive them.
[6]
Primary and secondary sources of data have been made use of in the study.
The first part of the project, i.e., analysis of Indian wrist watch industry and analysis
of brand repositioning strategies of Titan Company has been completed on the basis
of secondary data. For this purpose, internet, journals, books, magazines and so on
have been made use of.
The second part of the project comprises of conducting a survey with the help
of questionnaire. The survey is proposed to be conducted on a sample of 50
consumers who are loyal to Titan Company, selected through convenience sampling
technique. The questionnaire consists of appropriate mix of open ended and closed
ended questions. The data is presented using pie charts and bar diagrams.
The conclusion part of the report would provide an insight of consumer

awareness regarding brand repositioning strategies and their effectiveness in
revamping the brand, Titan.
TABLE OF CONTENT
Sr. No. Topics Page No.
[7]
1 ACKNOWLEDGEMENT 4
2 PREFACE 5
3 EXECUTIVE SUMMARY 6-7
4 LIST OF ILLUSTRATIONS 9
5 LIST OF TABLES 10
6 CHAPTER-1 INTRODUCTION 11-17
7 CHAPTER-2 RESEARCH METHODOLOGY 18-19
8 CHAPTER-3 INDUSTRY OVERVIEW 20-25
9 CHAPTER-4 COMPANY PROFILE 26-29
10 CHAPTER-5 TITAN WATCH: BRAND POSITIONING 30-37

STRATEGIES
11 CHAPTER-6 TITAN WATCHES: BRAND RE-POSITIONING 38-43

STRATEGIES
12 CHAPTER-7 CONSUMER AWARENESS SURVEY 44-56
13 CHAPTER-8 CONCLUSION 57
14 QUESTIONNAIRE 58-59
15 REFERENCES 60
List of illustrations
Number Title Page No.
1 Stages in brand strategy development 13
2 The principle of repositioning 15

[8]
3 Porter’s Five Forces Model 20
4 Titan sub-brands possessed by respondents 44
5 Period of Titan watch’s use 45
6 Reasons for brand preference 46
7 Recall of Titan’s original tagline 47
8 Major advertisement media 48
9 Awareness of brand ambassador 49
10 Awareness of new tagline 49
11 Consumer perception of new designs 50
12 Awareness of new campaign 51
13 Consumer perception of new campaign 51
14 Consumer perception of store ambience 52
15 Consumer perception of sales personnel 53
16 Consumer perception about after sales service 53
17 Consumer perception about display of watches 54
18 Overall perception about Titan showroom 54
List of Tables
Number Title Page No.
1 Reasons for brand preference 43
2 Major Advertisement media 45

[9]
Chapter 1 - Introduction
1.1 Theory & Concept
"A business has two - and only two - basic functions: marketing and innovation."
- Peter Drucker
[10]
The rapid pace of change and intense competitive pressure in today's

marketplace demand that brands continuously innovate and reinvent themselves to
maintain their relevance and market position. In this context, brand repositioning and
other revitalization strategies have become a business imperative for battling brand
erosion. The appeal of brand repositioning is further heightened by the rising costs
and high risk associated with launching a new brand.
Brand repositioning has received little attention in the marketing literature and
has mostly been treated as a variation of brand positioning. Biel, for example, has
defined brand positioning as "building (or rebuilding) an image for a brand". The goal
of positioning and repositioning strategies relates to the management of consumers'
perceptions. However, positioning focuses on the creation of brand associations -
consumers' perceptions of the attributes that differentiate the brand from competitive
offers – while repositioning also implies managing existing brand associations. The
unique challenge of a repositioning strategy, thus, lies in rejuvenating the brand
image to make it relevant in an evolving environment, while honoring the brand
equity heritage.
Repositioning can be required as the market changes and new opportunities

occur. Through repositioning the company can reach customers they never intended
to reach in the first place. If a brand has been established at the market for some time
and wish to change their image they can consider repositioning, although one of the
hardest actions in marketing is to reposition a familiar brand.
According to Solomon, position strategy is an essential part in the marketing

efforts because companies have to use the elements in the marketing mix to
influence the customers understanding of the position. During the movement from
something less attractive and relevant towards a more attractive and relevant position
several of strategic choices has to be made. The ones responsible for the
repositioning have to evaluate why a reposition is necessary, and if the offer is the
one that will change or just the brand name. There are several risk factors that have
to be taken into consideration when preparing for a repositioning of the offering or the
brand. During repositioning, the risk of losing the credibility and reliability is high and
[11]
the need for a thorough strategy is therefore necessary to avoid this occurrence.
Some analyst argue that to successfully reposition a establish brand name is almost
impossible because repositioning of a brand can make the most loyal customer to
switch brand. But, in some circumstances a repositioning is necessary to gain
credibility if the brand is eroded. Whenever a reposition is in question it has to be of
relevance from a customer perspective, is this achievable? Some brands will on no
account be thought on as a luxury brand and therefore an attempt to reposition will
only damage the brand image or the actual company.
Numerous failed attempts at brand repositioning testify to the difficulty of

developing and implementing such a tactic. For example, while the soft drink brand,
Mountain Dew has remained relevant to the youth market through continuous
repositioning in its thirty years of existence, Levis' Jeans has been losing market
share to newcomers such as The Gap, despite numerous campaigns designed to
reposition the brand as trendy.
The strategic importance of brand repositioning in preserving and enhancing

brand equity, coupled with the mixed results of repositioning attempts, underscores
the need to develop a better understanding of the dynamics of brand repositioning.
Specifically, questions of whether, when and how brands should be repositioned
need to be addressed.
1.2 Literature Review
The repositioning strategy is rolled out in three stages: introductory,

elaboration and fortification stages. This involves the introduction of a new or a
repositioned brand, seeking to underline the brand’s value over others, and to
broaden the brand proposition. It is truly tough to change the customer’s perceived
attitude towards a brand, and therefore the risk is great that the attempt to
repositioning might be unsuccessful.
After rolling out the strategy, it is time to modify the proposition through update
of the personality and through repositioning. There are benefits and risks with both of
[12]
this segments and it is of great significance that they are truly evaluated when
deciding the next step in the process. To further understand the stages stated above,
figure.1 will guide you through the different phases that follow after establishing a
brand proposition.
Figure 1: Stages in brand strategy development
The implication with the term” repositioning” is that a company modifies

something that is already present in the market and in the consumer’s mind. The
definition of repositioning changes different individuals and professions. To view the
different definitions and perceive a greater understanding about this concept, three
examples of repositioning given by individuals in different professions is stated
below:
“Repositioning is a change, principally about trigging the vision, mission and value in
a new direction that is more suited for the brand in the future”.
(Brand manager consultant)
“Principally, reposition concerns changing the consumer’s perception of the brand”

[13]
(PR- consultant)
“Repositioning is built upon the change of unique and differentiated associations with
the brand in some kind of direction, it is about having a balance between the category
party and differentiation when using reposition strategies” (Leading brand strategist)
From these definitions, it is obvious that reposition is about moving something

to a newer and hopefully to a more attractive and relevant position. The purpose of
the movement differs with regards to what the company wants to achieve. A company
might want to reach out to a larger target group, or be involved in several different
positions at the market. There is also a visible relation between price and quantity
aspects. When a company perceives the market as a demand curve, the purpose is
to down stretch or up stretch in this curve. When moving down it is often spoken of as
an expansion down wards, and when moving up and there is a need for reaching the
premium segment and expand up wards.
Figure 2: The principle of repositioning
New Position
Price
Previous Position
Experienced quality
When striving towards a new position in the market, it is important to
[14]
understand that consumer’s minds are limited. People’s minds select what to
remember and it is therefore significant to convince the consumers with great
arguments. The market demand changes rapidly and therefore repositioning can be
necessary to meet these demands, newer and stronger arguments have to be
established to convince them to stay as loyal customers.
As stated in the literature, repositioning is a very complicated matter and

therefore there are no detailed theories or models. The aim with repositioning differ
from person to person, and the only connection between all the different theories is
that repositioning is moving something from somewhere towards a greater position at
the market.
Corstjens and Doyle (1989) identified three types of repositioning strategies:
(1) Zero repositioning, which is not a repositioning at all since the firm maintains its
initial strategy in the face of a changing environment;
(2) Gradual repositioning, where the firm performs incremental, continuous
adjustments to its positioning strategy to reflect the evolution of its environment; and
(3) Radical repositioning that corresponds to a discontinuous shift towards a new
target market and/or a new competitive advantage.
After examining the repositioning of several brands from the Indian market,
the following 8 types of repositioning have been identified. These are:
1. Increasing relevance to the consumer

2. Increasing occasions for use
3. Making the brand serious
4. Falling sales
5. Bringing in new customers
6. Making the brand contemporary
7. Differentiate from other brands
8. Changed market conditions.
[15]
It is not always that these nine categories are mutually exclusive. Often one
reason leads to the other and a brand is repositioned sometimes for a multiplicity of
reasons.
A four-phased brand repositioning approach can be followed to achieve the

intended benefits:
Phase I. Determining the Current Status of the Brand
Phase II. What Does the Brand Stand for Today?
Phase III. Developing the Brand Positioning Platforms
Phase IV. Refining the Brand Positioning and Management Presentation
The benefits that can be derived from brand repositioning exercises can be
summarized as:
• Value over others

• Updated personality
• Relevant position
The risks associated with such strategies are:
• Loss of focus
• Neglecting original customers
• Losing credibility for the brand
• Confusing the brand
Therefore, brand repositioning is more difficult than initially positioning a brand

because one must first help the customer “unlearn” the current brand positioning
(easier said than done). Three actions can aid in this process: (1) carefully crafted
communication, (2) new products, packaging, etc. that emphasize the new
positioning and (3) associations with other brands (co-branding, co-marketing,
[16]
ingredient branding, strategic alliances, etc.) that reinforce the new brand
positioning.
This exercise is so critical to an organization’s success that the organization’s

leadership team and its marketing/brand management leaders should develop it,
preferably with the help and facilitation of an outside brand-positioning expert.
Chapter 2 - Research Methodology
2.1 Objectives
1. To study the current scenario of Indian wrist watch industry.
2. To review the brand positioning strategies of different sub-brands of Titan
watches.
3. To analyze the brand repositioning strategies of Titan watches.
4. To study consumer awareness and perception about the brand repositioning
[17]
strategies of Titan Watches.
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.
2.2 Limitations
 The study is confined to Navi Mumbai area only
 There is possibility of sampling errors in the study
 The responses of the consumers may not be genuine
 The questions included in the questionnaire may not be comprehensive.
2.3 Sources of Data Collection
The relevant data was collected from both primary sources and secondary
sources. The starting point of my information gathering has been the secondary
sources such as internet, books, and journals and so on.
First, I made a study of the brand positioning and repositioning strategies of
Titan watches through secondary sources such as internet, insurance magazines,
and journals and so on. Then I conducted a consumer awareness survey on brand
repositioning strategies undertaken by Titan watches in recent times.
2.4 Sampling Procedure
[18]
A sample of 50 consumers who are brand loyal to Titan watches since more
than a year and in the age group of 20 – 30 years have been considered for this
study. As Titan has taken up brand repositioning strategies since July 2008,
consumers who have seen the previous and new campaign have been targeted
2.5 Primary Data Collection
Data was collected through an interview schedule, consisting of both open
ended and closed ended questions. The schedule covered parameters like
reasons for consumers’ brand preference; recollection of earlier tagline and
advertisement, brand ambassador of Titan; awareness of new tagline and campaign
featuring Aamir Khan, new designs and so on. The data was collected through e-
mails, telephone contacts and one-to-one personal interviews.
Chapter 3 - Industry Overview
3.1 History of the watch market
The Indian watch industry began in the year 1961 with the commissioning of
the watch division of HMT. The first watch model manufactured by HMT was the
Janata model in the year 1962. HMT was the leader in the watch market till the
Tata’s formed Titan Watches in association with Tamil Nadu Industrial Development
Corporation in the year 1987. They took a major strategy decision, which later
changed the face of the Indian watch market- to manufacture only quartz watches.
Liberalization in 1992 and the removal of quantitative restrictions due to WTO has
opened the doors for many foreign brands in the Indian market viz. Tissot, Swatch,
Omega, Rado, TAG Heuer, Rolex and many others. The import duties on watches
are falling which makes the Indian market look attractive for the global majors like
Casio, Swatch and Citizen.
[19]
3.2 Indian Watch industry:
Figure 3: Porter’s Five Forces Model

1. Supplier Power:
HMT has its own fully integrated operation for production of its watches. Titan has
its own production facilities for which it has invested roughly 120 crore rupees over
the years, the manufacturing capacity of which is 6 million units. Also there has
been a rise of low cost producers in China & Taiwan which has provided an
opportunity for watch makers to outsource watches at low cost, just as Titan has
done to outsource the components for Dash. Due to the large supply of watch
movements available, there is little supplier power in the watch market.
2. Buyer Power:
The Indian watch buyers are very price sensitive, especially in the lower end of the
market. There is still a huge untapped market in India with market penetration of only
20 units per thousand people while the world average is more than 100. At the same
time there are a segment of people who are willing to pay a premium for watches
with good performance and with a recognized brand name. So understanding the
buyers’ preferences is very crucial in this industry in order to gain a substantial
market share.
3. Entry Barriers:
The Indian watch market in the recent years has shown a dramatic increase in the
number of brands available in the market due to removal of quantitative restrictions.
So the new entrant has to have an offering, which can be positioned and
differentiated from the other players in the market. This could be either price or
functional or emotional appeal. So the prime barrier for entry, in the current context,
for a new entrant is to build a brand image and price competitively.
4. Threat of Substitutes:
There are no such substitutes to watch as a product. However, in terms of the
companies offering various variations for watches such as pendant watches and
[20]
jewellery watches, some sort of substitution has developed. Rich consumers prefer
to purchase watches more as a fashion accessory rather than simply for its typical
use.
5. Degree of Rivalry:
There are many companies in the Indian watch market; however, the product
ranges offered by them are manifold. This makes the competition very stiff. Also at
the lower end of the market it is basically the Value for Money, which differentiates
the players. The strategic stakes for the producers are very high. Titan Ltd., the
largest company in terms of market share in the organized sector has faced losses in
the quarter ended June 2001 despite increase in the market share due to
macroeconomic situation. HMT faced a similar situation when Titan was introduced
in the 1980s leading to a sharp fall in its market share.
3.3 Present Situation of the Indian Watch Market
The Indian watch market is today of 40 million units, out of which 60% is in the
unorganized sector in which the maximum number of watches are sold are below
Rs.300. Quartz watches form two third of the organized sector and the rest is split
between mechanical and digital watches. Even in the organized sector, three fourth
of the sales by volume comes from watches that are priced below Rs.1000.
Plastic as such is not acceptable to average Indian consumers, especially
those from the small towns and rural areas who regard it as cheap and flimsy. They
want toughness- which translates into a good quality metal model at a reasonable
price.
Watch is one of the consumer durables whose replacement rate is very high.
The replacement rate of watch is 33.8 %( Source: India market demographics report,
1998). This is also due to the fact that the estimated scrap rate of wrist watches is
7.8%, which is applicable after 6 years (Source: India market demographics report,
1998). So, due to high scrap rate, outdated models, and the shift from the
mechanical watches to the quartz watches it is causing a very high replacement
[21]
demand for watches. This along with the low penetration level represents the
untapped market potential for watches in India.
3.4 Major brands in the Indian watch market
The major players in the Indian watch market include HMT, Titan and Timex.
The other players include Westar, Shivaki, Maxima, SITCO. Foreign brands such as
Cartier, Piaget, Omega, Tiffany’s and Corrum, Gucci, Longines, Casio, Citizen, Tag
Heuer and Espirit are also making an inroad into the Indian market.
Titan has been consolidating its market share over the past decade. Timex
watches, which entered in India with collaboration with Titan, has now independently
gained substantial market share.
[22]
3.5 Brand Perception for different watches
T I T A N ( s o nma at ax )i m Ha M T T i
[23]
NDS
3.6 Watch Industry Map
3.7 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)
[24]
• Connoisseur segments (above Rs.8000)
Based on user category

• Men’s watches
• Women’s watches
• Youth watches
• Kids watches
• Sports watches
[25]
Chapter 4 - Company Profile
4.1 Overview
Titan Industries was established in 1984 as a joint venture between the Tata
Group and the Tamil Nadu Industrial Development Corporation. 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, 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
focused on the youth with its third brand – Fastrack. It has also premium fashion
watches by acquiring a license for global brands such as Tommy Hilfiger and Hugo
Boss, while. It has also in its portfolio its first Swiss Made watch brand – Xylys.
In 1995, the company diversified into jewellery under the brand – Tanishq to
capitalize on a fragmented market operating with no brands in urban cities. In 2005,
the company launched its second Jewellery brand, Gold Plus, for capitalizing on the
opportunity in small towns and rural India.
The company has now diversified into fashion Eyewear by launching Fastrack
Eye-Gear sunglasses, as well as Prescription Eyewear. The Company leveraged its
manufacturing competencies and branched into Precision Engineering Products and
Machine Building from 2003.
Today, Titan Industries is India's leading manufacturer of watches and

jewellery employing 3,800 people. Titan and Tanishq are among the most admired
brands in their categories.
4.2 Products
[26]
The company manufactures over 8 million watches per annum and has a
customer base of over 80 million. It has manufacturing and assembly operations at
Hosur, Dehradun, Roorkee and Baddi in Himachal Pradesh and an ECB plant in
Goa. Its main products are:
• Watches: Currently manufactures four main watch brands viz. Titan for the
premium segment, Fastrack – focused on the youth and trendy fashion
space, Sonata for the mass market and Xylys for the premium market. The
Titan brand architecture comprises several sub-brands, each of which is a
leader in its segment. Notable among them are: Titan Edge – The world's
slimmest watch which stands for the philosophy of "less is more"; Titan Raga
– the feminine and sensuous accessory for today's woman, Nebula - crafted
in solid gold and precious stones and several other collections like Wall
Street, Heritage, Regalia, Octane, Orion, Diva, Zoop, WWF and the
Aviator series, all of which form a part of the Titan wardrobe. Sonata is today
India's largest watch selling brand and is priced between Rs 295/- and Rs
1200/-. The company's first Swiss Made watch – Xylys is for the hi-end
connoisseur and new age achiever. It also markets Tommy Hilfiger watches
under a licensing arrangement and is introducing Hugo Boss. Today, the
Titan portfolio has about 65% of the domestic market share in the organized
watch market.
The company has 255 exclusive showrooms christened 'World of Titan',

making it amongst the largest chains in its category. Titan watches are sold
through over 12,000 outlets in over 2,500 cities and internationally in over 30
countries, primarily in the Middle-East and Asia Pacific. Its after-sales-service
is itself a benchmarked operation with a network of 750 service centers and
amongst the world's fastest turnaround times. The company has a world-class
design studio for watches and accessories.
• Jewellery: Tanishq is India's largest and fastest growing jewellery brand with
a premium range of gold jewellery studded with diamonds or colored gems
and a wide range in 22kt pure gold. Platinum jewellery is also a part of the
product range Tanishq is one of India's largest specialty retailers and is
[27]
transforming the jewellery market in India 102 boutiques in 72 cities across

the country. ‘Gold Plus' is the recent retail offering for the mass market with
plain gold jewellery selling through 19 stores in 19 towns. The jewellery
division has its own design studio.
• Eye wear: Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and
has sunglasses under Fastrack brand and prescription eyewear consisting of
Frames, Lenses, Sunglasses, Accessories and Contact Lenses of in-house
brands and other premium brands.
4.3 Precision Engineering
The company's Precision Engineering Division supplies precision components

to the avionics and the automotive industry. It also manufactures dashboard clocks
as OEM to car manufacturers in Europe and America. The division also provides
fully integrated Automation solutions
4.4 Awards
The company has been awarded the following distinctions:
• Being named the No.1 Brand in the Consumer Durables category in the
"Brand Equity" Survey of The Economic Times, a leading Indian financial
daily.
• The Titan Design Team won the Young Design Entrepreneur of the Year
award at the design awards instituted by the National Institute of Design and
Business World, a leading Indian magazine. The team has won 7
accreditations also.
• Both Titan and Tanishq have been adjudged "Most Admired Brands" as well
as "Retailer of the Year" by Images Fashion Forum in consecutive years.
[28]
• 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 awarded the JRD QV Award
in 2006.
Chapter 5 - Titan Watches: Brand Positioning Strategies
5.1 Overall strategies
[29]
Since its introduction, Titan has been positioned as a premium brand,

providing high quality products. With its numerous sub-brands catering to different
segments, the challenge that Titan faces is to create a strong brand image. It follows
different positioning strategies; these strategies can also be analyzed as given
below:
 Attribute Positioning:
When the company launched its products, it was the first to bring quartz
watches to the Indian market. The company successfully leveraged this to penetrate
the market and gain a market share. Raga, Classique and Regalia come under this
strategy. Classique has been positioned as elegant corporate wear that leaves a
quiet, but definite impression and fusion of function and sophistication. Power
dressing now has a new weapon! As Magic in gold and bicolor look, the 'Regalia'
range represents the essence of dress-wear. Raga has been differentiated and
positioned as exclusive watches for women. The Raga and Silver Raga collection is
elegant, delicate and feminine with each piece being truly unique.
 User Positioning:
Titan caters to several user groups- children (the Dash), sportspersons
and adventurers (PSI4000 and Fastrack range). The Fastrack range is seen as
being contemporary, sturdy and reliable. The advertising, packaging and
merchandising of this range is young, vibrant and ‘cool’ (the ad line says “Cool
watches by Titan”)
 Benefit Positioning:
The Fastrack Digital range offers the customer a functional watch
that is also attractive. The digital watch has a “techno-geek” image, but Titan seeks
to differentiate its offering on the basis of superior style and attractiveness.
[30]
 Competitor Positioning:
With the entry of several foreign watchmakers into the market, Titan
had to counter the threat. Most of the entrants are catering to the upper end of the
market- Omega, Tissot, Cartier etc. Titan already had the Tanishq brand in this
segment. However, it has tried to reposition this brand by increasing the price range
to encourage more customers.
 Quality or Price Positioning:

In the overseas market, especially in Europe where it is competing with Swiss
and Japanese watches, it is positioning itself as ‘value- for- money’: reasonably
priced (less than Swiss watches and higher than Japanese), attractively styled and
of good quality. In Indian market, Sonata is a perfect example of Price positioning,
titan came up with this segment when it was facing heavy competition from lower
end segment.
5.2 Men’s segment:
With Titan positioning its range of watches as a life-style, the Indian market
started viewing watch more as a complement to dress than just a time showing
machine. They are also realising that, unlike other forms of art that are meant to be
admired, high-end jewellery watches have that added bonus: practical luxury with a
function other than beauty. Watches have joined the list of tie, deodorant and shoes
to represent the occasion and flaunt your status.
Dress Wear
Titan has three brands positioned for this segment: Nebula, Regalia and
Insignia.
Nebula:
Marketed as the “Jewellery collection from Titan”, Nebula is targeted towards
affluent men who consider wearing gold jewellery a symbol of status. Magical blend
[31]
of most coveted of metals, Gold and craftsmanship; Nebula is more of a

connoisseur watch with the lowest price model at Rs.5500. It is marketed as a
“watch for discerning individual” positioned as a gold jewel.
Regalia:
“Incredibly eye-catching…. magic in gold”.
The watch uses the unique combination of gold and bicolour looks
representing the essence of dress-wear. In India, gold-look is associated with status
but at the same time, the silver-look is the fashion of the day in international
watches. With the combination of both, this watch is targeted towards affluent
businessmen. The elegant looks and colours make it a strong competitor to the
foreign brands like the Tissot, Piaget and Rado.
This is also marketed as a watch for gift “Special Watch for special occasion”,
positioning this as a costly gift.
Insignia:
‘The World Watch from Titan.’
The watch with fascinating designs and precision engineering was targeted
towards the European markets. The complexity of this watch is 10 times more than
a regular titan watch. Though it didn’t meet with much of a success in Europe, this
tag line and keyword “International” are used to position this watch as a world-class
watch for international traveller with European tastes.
Classic Watches
Watches that are for every-day use and those with less frills and more value
are classified as Classic watches. These watches are normally targeted towards
middle and upper middle-income class consumers.
Classique:
[32]
“Power dressing now has a new weapon!”

“Timeless elegance captured on the wrist.”
Classique' is marketed as a fusion of function and sophistication. Classique with its
looks fits the formal corporate image and is positioned as a watch for corporate
employees. This also reinforces the importance of watch along with the dress worn.
These watches are generic in their simplicity and find no real competitors except
HMT.
Royale:
“Collection of designs that suit everyday wear”.
Royale with its gold plated case and golden straps represents a formal every
day watch targeted towards the employees who can’t afford multiple watches for
occasions. The watch includes designs from simple to dressy eveningwear
switching between informal and formal looks based on the place and situation.
Spectra:
“Designed for those who look beyond the ordinary”.
This brand from Titan extends over wide range of prices from 900-7000. It is a
classic premium watch with style, which boasts of combining the sturdiness of steel
with richness of gold. The positioning of the watch is not very clear as it is targeted
towards the salary earners with its lower price point models and appealing models
for the corporate executives at the higher end.
Sports Watches
In the Indian scenario the sport awareness is not quite there. And the market
is not mature enough that consumers buy special watches for sporting except in the
super-premium and segments above that. A sports watch in the mind of an average
Indian is a polyamide watch with stopwatch and trendy look. So there is no clear
distinction between sports watches and casual watches. But in the available market
Timex, Casio, and Titan are major players and after the lifting of QR restrictions,
[33]
world famous Tag- Heur has also entered India but in the Connoisseur segment of
sports watches.
PSI2000:
Titan has introduced a range of contemporary Precision Sports watches. The
brand is marketed as tough, outdoor, adventure brand. (Psycho graphically
segmented) Ranging from 800 to 7500, these watches are in direct competition with
foreign brands like Swatch Irony.
Casual Wear:
The segment of watches that has a variety of brands and models to appeal to
the youth and mentally young people is casual wear. The watches in this segment
are mainly sporty watches, which are unconventional and typically symbolize the
attitudes of younger generation.
Titan Fast Track

“Cool watches from Titan”.
The target audience for this watch, in the 20-35 age group include working
adults and postgraduate students of both sexes in metros and mini metros. The Fast
Track user, in terms of attitude is one who wears an informal dress, wears branded
jeans, shirts, sunglasses and branded informal shoes. The Fast Track personality is
that of a young, energetic, achievement oriented person, who seeks to express his
or her individuality by braking free from constraints of formal environment, without
being a rebel. Built around the Cool concept, this watch from Titan has virtually very
few competitors because no one offers the feature combination and price but Casio
(in digital range) and Espirit and Swatch (in the analog range) can be considered as
competitors feature-wise.
Technology Watches
Wrist Watches have changed a lot from the inception- a time showing
convenience machine to a status symbol. But the underlying concept remained
unchanged, convenience. Stretching this concept a bit with the development of
[34]
technology are the technology watches available in the market. Watch for time,
status has in the new technology era is looked for convenience of carrying data. In to
the competitive market with people willing to pay a premium for that advantage, a
good number of brands have ventured.
Technology (2350-8200):
“Multi-functional watches for the Tech-savvy”.
This brand is marketed as mergers of classic elegance and technological
mastery giving rise to multi-functional chronographs using the solar power. This
brand is positioned to compete against the Citizen’s EcoDrive.
5.3 Women’s segment
Dress Wear
Titan has chiefly three brands in this category.
Nebula (6000-65000)-
“The Jeweler’s Collection”
Nebula is a precious jewellery watch from Titan. It is marketed as ‘a magical
blend of most coveted of metals and engineering excellence’. The Nebula range of
watches is positioned as objects of ornamentation. A 21 carat gold watch, studded
with gems it is targeted at the upper most end of the market in competition with
brands such as Rolex and Cartier.
Regalia
Regalia range is positioned as “Essence of dress wear”. It is marketed as

“Incredibly eye catching…magic in gold”. With the unique combination of gold and
bicolor looks and sleek case, Regalia is targeted towards middle-aged women who
consider watch to be a status symbol and also representing their delicacy. It is
available in many price points between Rs.1800 onwards.
[35]
Raga and the Silver Raga

Raga and the Silver Raga collection are positioned as “Ethnic Indian styling
for the sophisticated woman”. Each piece is truly unique and represents elegance,
delicacy and feminine. The designs and the bracelets represent traditional Indian
ornaments as well as contemporary style.
Both the watches are exclusively designed to appeal to women more as an

ornamental possession than a watch. The Silver Raga has been crafted exclusively
for the sophisticated woman who believes in value-for-money and who wears silver
jewellery with élan.
At the beginning, when the brands were launched, they were positioned as
“Watches for all dresses” with changeable dials matching the sari color. But the
proposition was viewed with skepticism and hence didn’t meet with much success.
Keeping in mind Indian women’s love for jewellery, both these brands are
repositioned as a perfect accessory that completes a woman's wardrobe.
Casual Wear
Fastrack
The woman's collection presents the all-new international 'Frosted' look, which
is trendy and chic. The ad line : ‘Fastrack- ‘Cool watches from Titan’, aims at building
the brand around the ‘cool ‘ concept.
Fastrack is targeted at a personality that is young, energetic, achievement-

oriented, who seeks to express her individuality by breaking free from constraints
imposed by formal environments, without being a rebel. The positioning of Fastrack
for men and women is almost the same.
5.4 Children’s Segment
Titan has a brand called Dash! for kids. These are bright, colorful watches
targeted at children aged 6-14 years. These watches are priced Rs.250 onwards to
[36]
Rs.495 and are marketed under the ad line: “Wow! Watches from Titan”. The three
main collections from Dash include the ‘Popeye Collection’, which feature cartoon
character Popeye, and his friends. There is also a Digital Range, which has features
like Ellight, compass, Velco straps. So Titan is positioning Dash watches as ‘Fun’
watches for kids. Its features such as comic characters also appeal to the frivolous
nature of the children.
Dash also has a special collection for girls, with changeable bezel rings,
priced at Rs.295.
There are some other watches such as Pop-Swatch from Swatch, which are
positioned using the same appeal that of Dash and are expected to give Dash a
tough time at the same competitive prices
Chapter 6 - Titan Watches: Brand Repositioning Strategies
Titan Industries decided to revamp its flagship watch brand, Titan, with the
intention of making it more youthful and relevant to the changing times. The brand,
launched more than 24 years ago, has undergone a major repositioning exercise
only once before – five years ago, when Hindi film actor Aamir Khan was appointed
brand ambassador. What followed later was the ‘What’s Your Style?’ campaign,
[37]
which tried to increase watch consumption per person, by suggesting the use of
different watches for different occasions.
6.1 New logo and tagline - “Be More”
Beyond style
Now, Titan wants to move from style statements to personality statements.
According to Harish Bhat, chief operating officer, watches, Titan Industries, a watch
ought to denote the wearer’s mood and personality. “With the explosion of options in
a person’s life, our core consumer is changing. And to keep up with them, Titan has
evolved too,” he says.
On the adoption of ‘Be More’, Bhat says that that statement is supposed to
denote the aspirations of consumers to make more of their lives and be whatever
they want to be. “The watch allows for such imaginative travels,” he says.
Titan’s agency, Ogilvy India, has devised a campaign featuring Aamir Khan
that encourages people to find a new strand of their personality every day. It all
started with a logo change a few months ago (the same font in a red and white
combination), followed by a campaign rolled out now.
The ad film opens on a shot of Aamir Khan sitting alone on a roller coaster,
stating, ‘Be born every day’. 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. Here, he asks the viewers to try the adventure of getting
off at an unknown station, of exploring unknown lands.
As he crashes his vehicle while go-karting, Khan waves to the others around
him, while his voiceover explains the importance of making one’s own mistakes.
Further on, he talks of not making your passport photos last longer than three
months – you need to constantly reinvent yourself and adopt a new look every day.
(cut to shots of Khan’s varied hairstyles and looks in his movies, shown in an
ambient way through posters and T-shirts).
[38]
“Shock your reflection!” says Khan, as we see him with funny accessories
framing his face. The next vignette has him practicing meditation while slyly checking
out a girl walking past (‘Explore’). Cut to a shot of children, with Khan explaining how
we aspired to be different people as kids – “let’s revive that aspiration today”.
Wearing armor (sword and all), Khan reiterates, ‘Be Born, Every Day. Titan. Be
More’.
Malvika Mehra, group creative director, Ogilvy & Mather Bangalore, says, “‘Be
More’ pushes people to live many lives in one. We want to trigger people into
questioning, ‘Why should we be single minded and boring? Time to be multi-faceted.
Khan fit the bill as Ogilvy borrowed from his own life and work and his need to
constantly experiment and reinvent himself. “Be it Mangal Pandey or Lagaan or Dil
Chahta Hai, Aamir always manages to look different in every role,” explains Mehra.
“So we showed him doing things that were spontaneous, such as exploring places or
go-karting.” The idea, simply put, is to live life to the fullest – with Titan.
The film was conceptualized by Mehra along with Amit Akali, Anil Thomas,
Kunj Shah (who wrote the script) and N Ajesh of Ogilvy. In a sense, says Mehra, the
spontaneity in the ad is an indication of Titan’s gradual shift from the old to the
youthful (from ‘My Dad’s Brand’ to ‘My Brand’). “That is the way many categories are
moving,” she says.
6.2 The ad making – Aamir Khan
The ad was directed by Prasoon Pandey of Corcoise Films; this is Pandey’s

third Titan film, the earlier two involved Khan and his assistant, played by the late
Vihang Nayak. The first film had Khan confused about which watch to match with
each outfit he’s packing before a trip, while the second film showed him delighting a
girl in a mall with a watch. “This third film has a much stronger script than those two,”
shrugs Pandey. “It’s about bringing a mindset onto the screen with a better celeb-
brand marriage.”
[39]
Shot entirely in Chennai, the film has been shot in a way that suggests that
multiple locations were used for the shoot, as opposed to one city. “We had fast
paced shots to spread the look of the film,” says Pandey. When asked why Chennai,
he quips, “Because it was raining in Mumbai then!”
Several layers were added to the film. To show the aspirations of children, a
young girl was shown staring at an object and, later in the frame, you see the object
is a butterfly – the girl wants to fly.
“Kids are freer in their thinking than adults and we hope this has been
portrayed,” Pandey says. Even the last frame of the ad, which has Khan dressed as
a mock warrior (with an impromptu utensil serving as his helmet), was made to look
like the man had made use of things lying nearby in a spontaneous way.
6.3 New Collections and Designs
Sonata’s sub-brands
Sonata has launched the Yuva 2008 collection, a series of colourful watches.
They are available in both casual and formal styles to complement the young, new
look for college or office wear. The collection has watches for both men and women
at price s starting at Rs 645. They are available in both gold and steel looks, with
both metal and leather straps.
Sonata, the watch brand from the Tatas, launched the Super Fibre, targeted
at the sub-Rs 500 market in urban, semi-urban and rural India. The watches have
been designed primarily for youth in the 16-30 age group, and will be available in a
price range of Rs 275 to Rs 550. The tag line for this sub-brand is ‘Super Strong,
Super Style.’
[40]
The company announced 360-degree marketing campaign for the new

offerings. It also unveiled its TV commercial featuring Indian ODI captain Mahendra
Singh Dhoni, “in a brand new avatar”.
Titan Raga – Hazel Collection

Titan Raga has launched the Hazel collection, inspired by the hues of nature.
Priced between Rs 2,195 and Rs 4,000, this range comprises five styles with
versions in gold, steel and bi-metal finish. They are available as bracelets and kadas
with textured or patterned look and mother-of-pearl dials.
Octane
Titan has launched the Octane collection of chronograph, multifunction and
retrograde watches for the urban man. The range is described as blending style and
technology. The collection has over 35 styles and is priced between Rs. 5,000 and
Rs 7,500.
Nebula Celeste
It is a limited edition collection of jewellery timepieces. They are crafted in 18k
white and yellow gold. Prices range from Rs 6 lakh to Rs 12 lakhs.
Raga Crystals
Titan Industries Ltd has unveiled its new Raga Crystals collection of watches
in Kerala. The two new watches, called Venus and Fairy Dust, are available in yellow
metal and bi-metal versions. Venus is priced at Rs 4,450 and Fairy Dust at Rs 4,750.
Titan’s Stambha
A new ladies Heritage wrist watch ‘Stambha’ signifying fame, prosperity and
good luck was unveiled as part of Heritage collection. MrVijesh Rajan, Regional
Sales Manager (South), launching the watch collection, said that plans are on the
anvil to launch one new collection every month, reflecting the 3000-year old art and
cultural history of the country. A sale of around 7,500 watches has been fixed as a
target for this fina ncial year in the Heritage collection, he added. The prices in the
collection range between Rs 5,000 and Rs 10,000.
[41]
Nebula Zeus
It is a mechanical automatic watch in solid gold for men. Priced at
Rs.1,10,000, the limited edition watch (500 pieces) harks back to an older era of
luxury and romance.
The Nebula Zeus watch has been crafted using Swiss made mechanical
automatic movement with gold finish and a sapphire crystal back cover. Other
features include an instant start, a second hand stop device for accurate time setting;
42 hours reserve powers and auto wind convenience. The watch collection was
launched by singer and actor, Vasundhara Das.
Raga Shimmer
It comprises of a collection of exquisitely designed studded watches that
complement both Indian-wear as well as Western-wear. Priced between Rs 2,995
and Rs 4,495, the new collection comprises watches in gold, steel and bi-metal
finishes.
Raga Diva
An exquisite range of watches for women in the Kerala market. Inspired by
traditional Kundan work, this collection has been rendered in a delightfully
contemporary form. It is priced between Rs 4,000 and Rs 10,000.
Titan Nebula – Duet Collection

Titan Nebula, the premium 18K gold watch brand from Titan, today launched
the Duet collection – three pairs of specially crafted gold watches for the wedding
season. The most premium collection for this wedding season was unveiled by
popular actor Gul Panag. Available in mother of pearl dials in both champagne and
white options it is priced between Rs.30, 500/- and Rs.1,35,000.
6.4 Other Strategies
[42]
• Titan is also trying to reach new customer segments. They are now trying to
target all adults in socio economic classes A&B.
• Titan is also looking at innovative retail strategies and planned to launch ten
innovative product collections soon.
Chapter 7 – Consumer Awareness Survey
7.1 Data Interpretation
Titan sub-brand owned

This was a multiple choice question where respondents were asked to choose
sub-brands of Titan which they possess. It was found that around 72% of the
[43]
consumers in the age group of 20-30 years possess Fastrack brand, 14% Sonata,
6% Raga, 4% Nebula and only 2% own WWF and Edge.
Figure 4: Titan sub-brands possessed by respondents
Period of use
The respondents were asked to mention since how long they have been
brand loyal to Titan. This was an open ended question and hence various responses
were received. The minimum period of use was set as one year, as mentioned
earlier, while the maximum period of use was determined. For convenience, the
different responses are categorized into three: 1year – 4years, 4years – 7years and
7years – 10years.
[44]
64% of the respondents fall into first category, i.e., they are using Titan watch
in the range of one to four years. 24% respondents are in second category and the
rest 12 % are using it for more than seven years.
Figure 5: Period of Titan watch’s use
Reasons for brand loyalty

The respondents were asked to select the reasons from the options given for
their preference for Titan watches. For this question, multi-responses were received
from the respondents.
Table 1: Reasons for brand preference

Reasons No. of respondents ( out of total
50)
Attractive designs 39
[45]
Reasonable Price 7
Brand image 22
Good quality 25
Figure 6: Reasons for brand preference
Recall of Titan’s tagline

Titan’s tagline, before brand repositioning exercise has been undertaken, was
“What’s your style”. This tagline was adopted during first rebranding exercise in
2004.
The respondents were asked to indicate whether they remember the tagline in
dichotomous way, i.e., as “yes” or “no”. It was found that only 22% of the
respondents were able to recall the tagline and the remaining 78% answered in
negative.
[46]
Figure 7: Recall of Titan’s original tagline
Titan’s advertisements
Titan advertises its watches in almost all media vehicles. The advertisements
can be seen in TV, magazines, newspaper, hoardings, billboards, radio and so on.
All the 50 respondents have seen the advertisements of Titan watches in
various media. This was a multi-response question and the options given to select
were restricted to TV, magazines, newspapers, hoardings and radio.
The findings of the survey have been summarized in a table as follows:
Table 2: Major Advertisement media
[47]
Figure 8: Major advertisement media
Types of media No. of respondents

TV 46
Magazines 25
Newspapers 36
Hoardings 15
Radio 4
[48]
Brand Ambassador of Titan

Aamir Khan is the brand ambassador of Titan since 2004. When the
respondents were asked to recollect the same, it was found that 46 of 50 sample
size were able to correctly mention the brand ambassador while the remaining 4 did
not give any response implying that they are not aware of it.
Figure 9: Awareness of brand ambassador
[49]
Awareness of new tagline – “Be More”

The survey has revealed that less than half of the total numbers of
respondents (36%) are aware of new tagline.
Figure 10: Awareness of new tagline
New designs of Titan

Titan has launched several new designs in 2008 in its existing collections and
as per its plans introduced new product collections also. The respondents were
asked to rate the new designs as “poor”, “average”, “above average”, “good” and
“excellent”.
7 respondents feel that their designs are “excellent”, 39 have rated them as
“good” and 4 have rated as “average”.
Figure 11: Consumer perception of new designs
[50]
New Campaign of Titan

The survey has revealed that the percentage of respondents who have seen
the new campaign focussing on “be more” featuring Aamir Khan is 50%.
Figure 12: Awareness of new campaign
[51]
Rating of New Campaign

The 50% of the respondents who have seen the new campaign were asked to
rate it with respect to how effective the campaign is in inspiring consumers to have a
new look everyday and be more in lives.
16 out of 25 respondents consider the new campaign to be “highly effective”
while the remaining 9 rated it as “effective”
Figure 13: Consumer perception of new campaign
[52]
Titan’s exclusive showrooms

The respondents were asked to rate Titan’s exclusive showrooms on 5 point
rating scale – Poor, Average, Above Average, Good and Excellent. The factors
related to showrooms that were provided to the respondents for rating are – store
ambience, sales personnel, after sales service and display of watches.
Figure 14: Consumer perception of store ambience
36 of the 50 respondents have rated store ambience as “Good” and 7 each

rated as “Above Average” and “Excellent”. This proves that store ambience plays an
important role in consumer perception of service quality.
Figure 15: Consumer perception of sales personnel
[53]
With respect to sales personnel, 35 respondents rated them as “Good”, while

4 each rated as “Poor” and “Average”, 7 respondents gave rating of “Above
Average”.
Figure 16: Consumer Perception about after sales service
In the survey, 31 out of 50 respondents rated after sales service as” Good”, 4
each as “Average”, “Above Average” and “Excellent” while 7 respondents rated as
“Poor”.
Figure 17: Consumer perception of Display of watches
[54]
Most of the respondents have given high ratings to the display of watches in
Titan showroom. 22 respondents rated it as “Excellent”, 24 respondents as “Good”
and only 4 respondents gave rating of “Average”.
Figure 18: Overall perception about Titan showrooms
The respondents were also asked to give overall rating to Titan’s exclusive
showrooms. It was found that out of total 50 respondents, 30 rated as “good” while
the remaining considered the showrooms to be “excellent”.
Around 50% of the respondents rated all the variables related to Titan’s
exclusive showrooms as “good”.
Suggestions given by the respondents to improve brand image
[55]
Varied responses were received for this question. All the responses have
been summarized as follows:
• Introduce more trendy and innovative designs

• Focus on niche markets such as working men and women
• Spread awareness about availability of watches in lower segments as most of
the consumers feel that Titan brand is synonymous with premium watches.
• Take steps to change consumer perception that Titan watches are high
priced.
• Improve after sales service.
7.2 Findings of the survey
The findings of the consumer awareness survey are listed below:

 72% of the respondents in the age group of 20 – 30 years possess Fastrack
watch. This shows that the positioning strategy of these watches has been
good.
 Most of the consumers prefer Titan watches for their attractive designs and
good quality. However, there is a misconception about pricing of Titan
products among the consumers. They perceive them to be high priced.
 Logos and taglines are rarely noticed by the watch consumers. Hence, any
change in them also goes unnoticed.
 Advertisement in mass media such as television, newspapers, and magazines
are best means to spread awareness about brand.
 Celebrity endorsement of watches not only increases the visibility of the
product but also gives an assurance to the consumers that it is of high quality.
 Titan watches’ designs are rated as “good” by 78% of the respondents. This
indicates that they are looking forward for more innovative designs to be
introduced by the company.
 Only 50% of the respondents have seen the new campaign launched by Titan
watches in July 2008. This implies that the reach of the campaign in six
[56]
months has been to more or less half of the consumers. However, those who
have seen the new campaign consider it to be effective in conveying the
message it intended to deliver, i.e., to “be more” in lives.
 The after sales service and behavior of sales personnel have been given low
ratings compared to other variables mentioned in the questionnaire with
respect to Titan’s exclusive showrooms.
Chapter 8 – Conclusion
[57]
The suggestions to improve consumer awareness about brand repositioning

strategy of Titan are as follows:
• To increase its visibility, Titan Company can sponsor events similar to fashion
shows in which all latest designs launched are displayed. This would have
multiplier effect as the latest designs launched by the company get noticed by
different segments of the customers in varied ways.
• Tie –up with FM radio channels for reminder advertisements and informing
customers about various sales promotion offers from time-to-time.
• Invest more in R&D as customer expectations are changing rapidly. Though
Titan has got more product collections, it should focus on introducing more
varieties in already existing product collections. In other words, having a
limited but more depth in product collections would be more advantageous.
• Introduce exclusive collection for working women which is more contemporary
and complements both traditional and western wear.
• Majority of the population in India live in rural areas. So, showrooms should
be set up at places nearer to them. Introduce cheaper and rough use watches
for this segment.
• After sales service has to be improved. That is, the process of servicing and
repairing of watches should be made faster. This can be done by ensuring the
spare parts availability and training all sales personnel in Titan showrooms to
undertake these tasks.
• Tie up with international watch brands and make them available locally.
• Make use of internet to spread awareness among consumers about the
brand.
QUESTIONNAIRE
1. Which sub-brand of Titan watches do you possess?

[58]
a) Fastrack
b) Sonata
c) Raga
d) Nebula
e) Others, please specify…………………………….
2. Since how many months / years have you been using Titan watch?
3. Why do you prefer Titan brand?
a) Attractive designs,
b) Reasonable price
c) Brand image
d) Good quality
4. Do you remember the original tagline of Titan watches? If yes, please

mention.
5. Have you seen the advertisement of Titan watches?
a) Yes b) No
6. In which media have you seen the advertisement?
a) TV
[59]
b) Newspaper
c) Magazines
d) Hoardings
e) Radio
7. Who is the brand ambassador of Titan watches?
8. Are you aware of the new tagline of Titan?
9. How do you rate the new designs of Titan?
a) Poor
b) Average
c) Above Average
d) Good
e) Excellent
10. Have you seen the new campaign of Titan?
a) Yes b) No
11. Do you think the new advertisement is effective in inspiring consumers to

have a new look everyday and be more in lives?
a) Not at all effective
b) Effective
[60]
c) Highly effective
12. How do you rate Titan’s exclusive showrooms with respect to the following:
(1–Poor, 2-Average, 3-Above Average, 4-Good, 5-Excellent)
a) Ambience -
b) Sales personnel -
c) After sales service -
d) Display of watches -
e) Overall showroom -
13. What suggestions would you like to give to improve Titan’s brand image
among customers?
References
• Sengupta Subroto (2006), “Brand Positioning: Strategies for Competitive

Advantage”. Second Edition, Tata McGraw Hill Publishing Company Limited,
New Delhi.
• Gopalakrishnan PS (ed.) (2007),”Rebranding: An Introduction”. ICFAI

University Press, Hyderabad.
• ICFAI Journal of Marketing Management
• ICFAI Journal of Brand Management
[61]
• www.marketingprofs.com
• www.brandingstrategyinsider.com
• www.thehindubusinessline.com
• www.economictimes.com
[62]

A Project On Brand Repositioning Strategy of Titan Watches

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A Project On Brand Repositioning Strategy of Titan Watches

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YMT’s College of Management

“STUDY OF INDIAN WRIST WATCH INDUSTRY AND

A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF

MASTER OF MANAGEMENT STUDIES

Under the Guidance of

YMT’s COLLEGE OF MANAGEMENT

Prof. Sachin Deshmukh

It is however understood that the undersigned do not necessarily endorse any

Prof. Sachin Deshmukh Dr. C. Babu

Project Guide Director

I am sincerely thankful to my project guide, Prof. Sachin Deshmukh, who

Today, a wristwatch is considered as much of a status symbol as a device to tell

After liberalization of Indian economy in 1992 many international players have

Many brands and companies are constantly reinvigorating their businesses

The actual approach of a company or brand's positioning in the marketplace

In recent times, consumerism has undergone a sea change. Consumers

The conclusion part of the report would provide an insight of consumer

Sr. No. Topics Page No.

3 EXECUTIVE SUMMARY 6-7

6 CHAPTER-1 INTRODUCTION 11-17

7 CHAPTER-2 RESEARCH METHODOLOGY 18-19

8 CHAPTER-3 INDUSTRY OVERVIEW 20-25

9 CHAPTER-4 COMPANY PROFILE 26-29

10 CHAPTER-5 TITAN WATCH: BRAND POSITIONING 30-37

11 CHAPTER-6 TITAN WATCHES: BRAND RE-POSITIONING 38-43

12 CHAPTER-7 CONSUMER AWARENESS SURVEY 44-56

Number Title Page No.

1 Stages in brand strategy development 13

2 The principle of repositioning 15

3 Porter’s Five Forces Model 20

4 Titan sub-brands possessed by respondents 44

5 Period of Titan watch’s use 45

6 Reasons for brand preference 46

7 Recall of Titan’s original tagline 47

8 Major advertisement media 48

9 Awareness of brand ambassador 49

10 Awareness of new tagline 49

11 Consumer perception of new designs 50

12 Awareness of new campaign 51

13 Consumer perception of new campaign 51

14 Consumer perception of store ambience 52

15 Consumer perception of sales personnel 53

16 Consumer perception about after sales service 53

17 Consumer perception about display of watches 54

18 Overall perception about Titan showroom 54

Number Title Page No.

1 Reasons for brand preference 43

2 Major Advertisement media 45

1.1 Theory & Concept

The rapid pace of change and intense competitive pressure in today's

Repositioning can be required as the market changes and new opportunities

According to Solomon, position strategy is an essential part in the marketing

Numerous failed attempts at brand repositioning testify to the difficulty of

The strategic importance of brand repositioning in preserving and enhancing

1.2 Literature Review

The repositioning strategy is rolled out in three stages: introductory,

Figure 1: Stages in brand strategy development

The implication with the term” repositioning” is that a company modifies

“Principally, reposition concerns changing the consumer’s perception of the brand”

From these definitions, it is obvious that reposition is about moving something

Figure 2: The principle of repositioning

When striving towards a new position in the market, it is important to