Titan Strategy
Executive Summary
India, the land of dreams, is fast realizing its potential. The world is taking note of the phenomenal potential prevalent in the Indian markets. Driven by changing lifestyles, strong economic growth and favourable demographic profiles, India is moving towards a consumption based economy. A recent survey by NCAER shows that the number of families with more than Rs. 1 crore annual earnings will double by 2010. Affluent Indian Men is one segment which is making its presence felt and all the marketers are running post to pillar to grab a pie of this segment. The Gems and Jewellery business in India is worth 14 billion US$ and has been traditionally associated with women. Men's Jewellery is one offering which is conspicuous by its absence. This presents an opportunity as growing number of young high earners are willing to flaunt their wealth as well as make a style statement at the same time. Jewellery provides an added benefit of an investment. So this sector is poised to grow at a rapid pace. Moreover, the business in this sector is primarily unorganised which lends an opportunity for organised players like Titan. It is proposed that Titan should leverage its Brand Equity and provide an offering of Men's Jewellery which would include rings, bracelets, chains and luxury watches. This offering will be primarily for the Indian market but would cater to the growing demands of export too. The primary platform for selling would be the trust associated with the Titan which is a Tata Group company. In addition, contemporary and stylish designs with an option to customise the product will be the points-of parity with the unorganised sector. The integrated marketing communications (IMC) strategy would use lifestyle magazines, celebrity endorsements and media advertisements for creating awareness of the extended brand. Finally, the supply chain needs to be maintained well oiled to gain the cost advantage for the export market. This shall be ensured
India, the land of dreams, is fast realizing its potential. The world is taking note of the phenomenal potential prevalent in the Indian markets. Driven by changing lifestyles, strong economic growth and favourable demographic profiles, India is moving towards a consumption based economy. A recent survey by NCAER shows that the number of families with more than Rs. 1 crore annual earnings will double by 2010. Affluent Indian Men is one segment which is making its presence felt and all the marketers are running post to pillar to grab a pie of this segment. The Gems and Jewellery business in India is worth 14 billion US$ and has been traditionally associated with women. Men's Jewellery is one offering which is conspicuous by its absence. This presents an opportunity as growing number of young high earners are willing to flaunt their wealth as well as make a style statement at the same time. Jewellery provides an added benefit of an investment. So this sector is poised to grow at a rapid pace. Moreover, the business in this sector is primarily unorganised which lends an opportunity for organised players like Titan. It is proposed that Titan should leverage its Brand Equity and provide an offering of Men's Jewellery which would include rings, bracelets, chains and luxury watches. This offering will be primarily for the Indian market but would cater to the growing demands of export too. The primary platform for selling would be the trust associated with the Titan which is a Tata Group company. In addition, contemporary and stylish designs with an option to customise the product will be the points-of parity with the unorganised sector. The integrated marketing communications (IMC) strategy would use lifestyle magazines, celebrity endorsements and media advertisements for creating awareness of the extended brand. Finally, the supply chain needs to be maintained well oiled to gain the cost advantage for the export market. This shall be ensured