Plc of Titan
This is the PLC of Titan
Most of us are aware of the phrase ‘Product Life Cycle (PLC)’. For the uninitiated, I shall give a very brief description before I begin with the main topic. According to the PLC concept, a product’s life is divided into 4 major stages: introduction, growth, maturity and decline. In the growth stage, since the category is relatively new, promotion is focused on communicating functional benefits, generally to a small consumer segment. In the growth stage, when a decent number of customers are aware of its existence, the promotional focus stays on functional benefits, albeit the segments targeted increases. In the maturity stage, the market approaches saturation. Thus, the focus of the promotional campaigns is to increase the consumption through various means. This mostly includes suggesting alternate uses of the product, thereby increasing the scope, and/or increasing consumption per customer.
Now let us analyze the promotional campaigns of Titan watches as the watch industry transformed from growth stage to maturity. Of late, the innovation in the wrist watches has mostly been incremental. Thus, the product, by itself, didn’t require to be explained of its functional benefits, unless a new line with some features like water proof etc were introduced. When Titan entered the Indian wrist watch industry in 1988, the market was in the late growth/ early maturity stage.
Titan started by repositioning watch as an accessory, and not just a time keeping device. Thus, Titan transformed watch from a basic functional product to something that can be gifted to near & dear ones. The ad campaign, back then, had two TVCs, each catering to a different segment. One had a ceremonial theme, focusing on emotions, and the voice-over (VO): “Pyaar ke baad sabse pyaara uphaar (next loveliest gift after love itself)”. The other one was targeted at the younger English-speaking segment, with the VO: “Rediscover the joy of giving, with Titan”. Enjoying
Most of us are aware of the phrase ‘Product Life Cycle (PLC)’. For the uninitiated, I shall give a very brief description before I begin with the main topic. According to the PLC concept, a product’s life is divided into 4 major stages: introduction, growth, maturity and decline. In the growth stage, since the category is relatively new, promotion is focused on communicating functional benefits, generally to a small consumer segment. In the growth stage, when a decent number of customers are aware of its existence, the promotional focus stays on functional benefits, albeit the segments targeted increases. In the maturity stage, the market approaches saturation. Thus, the focus of the promotional campaigns is to increase the consumption through various means. This mostly includes suggesting alternate uses of the product, thereby increasing the scope, and/or increasing consumption per customer.
Now let us analyze the promotional campaigns of Titan watches as the watch industry transformed from growth stage to maturity. Of late, the innovation in the wrist watches has mostly been incremental. Thus, the product, by itself, didn’t require to be explained of its functional benefits, unless a new line with some features like water proof etc were introduced. When Titan entered the Indian wrist watch industry in 1988, the market was in the late growth/ early maturity stage.
Titan started by repositioning watch as an accessory, and not just a time keeping device. Thus, Titan transformed watch from a basic functional product to something that can be gifted to near & dear ones. The ad campaign, back then, had two TVCs, each catering to a different segment. One had a ceremonial theme, focusing on emotions, and the voice-over (VO): “Pyaar ke baad sabse pyaara uphaar (next loveliest gift after love itself)”. The other one was targeted at the younger English-speaking segment, with the VO: “Rediscover the joy of giving, with Titan”. Enjoying