Case Study on Titan
Titan Watches – Consumer Motivation
Background Titan Industries is the fifth largest integrated watch manufacturer in the world 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 ith 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.
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 brand-Fasttrack. It has also launched premium fashion watches by acquiring a license for marketing global brands such as Tommy Hilfiger and Hugo Boss, besides having in its portfolio its first Swiss made watch brand-Xylys.
The Vision
The vision of Titan watches is: “To be innovative, world class, contemporary and build India’s most desirable brands”.
In line with this vision, the company focussed on brand marketing rather than product marketing. Watched 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. The major weakness of the watch industry in the 1980s was that no brand had a strong personality. Hence Titan positioned itself as a premium brand with global reach. This was achieved through a well-planned
Background Titan Industries is the fifth largest integrated watch manufacturer in the world 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 ith 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.
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 brand-Fasttrack. It has also launched premium fashion watches by acquiring a license for marketing global brands such as Tommy Hilfiger and Hugo Boss, besides having in its portfolio its first Swiss made watch brand-Xylys.
The Vision
The vision of Titan watches is: “To be innovative, world class, contemporary and build India’s most desirable brands”.
In line with this vision, the company focussed on brand marketing rather than product marketing. Watched 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. The major weakness of the watch industry in the 1980s was that no brand had a strong personality. Hence Titan positioned itself as a premium brand with global reach. This was achieved through a well-planned