Brand and company evaluation of titan
21 gennaio 2018
In early 80's, it was recognized by the Tata Group that the check out industry is a huge potential consumer marketplace for the group to enter into. A Tata veteran, Xerxes Desai who was the MD of Tata Press was selected to mind this initiative. Titan was conceived in Tata Press in 1984- a joint venture between Tata & the Tamil Nadu Industrial Development Company. Like most consumer marketplaces in India during the pre-liberalization era, the look at industry was way behind all of those other world. The technology at that time was reliable, but outdated. Tata Group entered the see market with Quartz technology and the manufacturer Titan.
Brand identity-Kapferers Model
Physique is an exterior tangible facet conveying company qualities, type, physical specificities and colour. Physique how to write a theme essay for college is the starting point of branding.
TITAN: Elegant corporate have on, Life-style watches
Personality is an internal intangible facet which sorts the character, brand persona and soul which happen to be relevant for makes.
TITAN: A complement to outfit than only a time showing machine
Relationship is an exterior facet with tangible and intangible areas, and defines the behaviour that indentifies the manufacturer - the way the company connects to its customers.
TITAN: Wrist watches as a practical extravagance with a function other than beauty
Culture is an inner intangible facet to integrate the brand in to the organization which is vital in differentiating brands.
TITAN: Indian, traditional and premium quality
Reflection is an exterior intangible facet reflecting the customer as she or he wishes to be seen because of this of by using a brand.
TITAN: Lives life to the fullest, multi-faceted, revives aspirations
Self-Image is an internal intangible facet reflecting the customer attitude towards the manufacturer. These inner thoughts hook up personal inner relationship with the brand.
TITAN: Be whatever you intend to be and extract even more from life
Stage in the PLC
Extension of Maturity period through REPOSITIONING
Titan's winning story commenced in the entire year 1984 when there was a joint venture between your Tata Group and the Tamil Nadu Industrial Advancement Company. Introducing Titan quartz designer watches which donned an international appearance, Titan Industries completely transformed the Indian check out industry. After the launch of "Sonata", a value-for-money manufacturer which offered functionally styled watches at reasonable prices, Titan Industries aimed to attain the youth of the nation using its third trendy and fashionable brand "Fastrack". Till date, Titan has sold 100mn designer watches worldwide and it creates 12mn watches per annum.
Steps taken by company at each stage
At Product Level
Stage I: Introduction
Titan offers a broad variety of choices to varied segments across taste, gender, age and monetary status. in the early days, Titan used this process way as the cornerstone of its leadership strategy. Their former range acquired discrete offerings for particular requirements:
Gold plated circumstances having excellent leather straps had been Formal watches launched especially for the executive
Gold plated conditions having ornamental bracelets had been Dress watches launched for those who prefer jewellery
All steel designer watches with features were the Rugged designer watches for those whose use demanded more durability
Stage II: Growth
Launched Aqura In 1989, the trendy collection for the youth
Raga in 1992, the ethnic array for the advanced Indian woman
Insignia in 1993, standard and foreign appearing high-end watches, for individuals who seek exclusivity
Launched psi 2000 in 1994, the rugged, sporty and masculine designer watches with serious sports features for individuals who seek adventure.
Dash in 1996, the glowing and colourful collection for kids
Launched Sonata in 1997, the affordable, good quality range for the budget-conscious
Stage III: Maturity
Titan came out with Fastrack in 1998, the cool, stylish and funky selection for the young
Nebula in 1999, the sound gold and diamond-studded range of luxury wristwatches for affluent people
Steel in 2001, the smart and contemporary collection for the youthful 21st century executive
In 2006, launched its premium watch brand Xylys
Also in 2008, Titan arrived with unique collections just like the Octane, Diva, WWF and Zoop
At Communication Level
Stage I: Introduction
Titan made a decision to invest to an excellent degree into exhibiting all its innovations to the prospective consumers using advertising and marketing. From the 1st day, the "catalogue" advertising and marketing of Titan was applied and it ended up being its hallmark as it was applied regularly and was very powerful in merchandising new versions. These catalogue advertisements were also very helpful to the clients in searching off the newspaper webpage, almost deciding which style these were interested in picking right up. Retailers as well got used to looking at customers who would walk into shops with newspaper cuttings, especially asking for the models depicted there. The same methodology is continued till this day, with nearly the same effect.
The most persisting the main Titan advertising has got been its music monitor. It had been a segment from Mozart's 25th Symphony that was chosen learning how to write a history essay for its category and western vibes and is becoming Indian Advertising's just about all unforgettable track. It started in 1987 in its clean classical versions with only one violin playing the melody and over time, this piece of music has been delivered in innumerable innovative versions.
Stage II: Growth
In the first 90's, Titan centered on building up the "Gifting" market. Designer watches had been favourite things to surprise and Titan benefited from that. A set of 3 films were developed in 1991 around 3 relationships, where the gifting of a Titan climaxed in a touching personal moment and strengthened the relationship between the protagonists. All these films were incredibly big hits plus they created a separate genre of advertising movies lasting around 8 years. Of these years, a series of films involving a variety of characters for instance a daddy, a daughter, a teacher, a boyfriend etc.; with regional flavour were produced and released. These helped in building a huge gift idea segment for Titan and also became Titan's Theme Advertising campaign.
Another flourishing customer-facing aspect about Titan features been its stores. In a pioneering attempt which substantially altered the industry requirements, the Community of Titan was created. Situated in the newer parts of a town, the showrooms promptly stood out on the street and finished up in attracting a lot of walk-ins. You can get an improved idea about the collection through a contextual presentation and could constitute his brain which collection was right for his requirement.
Stage III: Maturity
Titan Industries made a decision to revamp its flagship watch brand with the goal of making it more youthful and relevant to the changing times. The brand underwent a significant repositioning exercise in 2005, when Hindi film actor Aamir Khan was appointed company ambassador and it had been accompanied by the tagline "What's YOUR LOOK?" campaign. It tried to improve watch usage per person, by suggesting the utilization of different watches for diverse occasions.
In 2008, Titan shifted from design statements to character statements. With the explosion of choices in a person's life, their core consumer was changing. Titan has got evolved and followed the tagline "BECOME MORE". It denotes the aspirations of consumers to make additional of their lives and be whatever they would like to be.
Majority of the look at customers have a tendency to prefer Titan due to the appealing styles and high-quality of Titan watches. On the other hand, there is a misconception in the minds of the consumers about the prices of Titan products because they find them to be pretty costly. Titan is now trying to get your hands on newer customer segments and so are attempting to target all of the adults in SEC A good and SEC B. Titan can be considering advanced retail strategies and can be projecting to launch contemporary product collections.
Titan is the 5th largest branded watch producer on the planet with four major makes available in the market namely Titan, Sonata, Fastrack and Xylys, all having countless sub-brands and collections. Titan Industries commenced operations with groundbreaking offerings, we.e. Quartz watches which altered the look of the Indian watch industry. Ideas which were ahead of their circumstances at Titan Industries resulted in substantial accomplishments such as Single Point Solutions to each and every Original Equipment Manufacturer customer.
Titan watches can be found at exclusive World of Titan outlets, Fastrack outlets, multi brand dealers, Multi brand wall plug "Helios" and multi brand stores. Bringing the forecast of company fatigue earnestly, the brand recreated itself with the flawlessly styled Euro watches collection.
In the longer term, Titan can introduce an exclusive assemblage for Executive males and females which is modern-day and goes well with both the traditional and also western wear. As well, the brand must spread more awareness about the option of its lesser-priced wrist watches in lower segments of the contemporary society as the majority of the consumers feel that Titan manufacturer is synonymous with high grade watches.