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TIMEXVS
TITANPresented By
Shamoeel JShrinivasan R
Consumer Durable
A durable good or a hard good is a good which does not quickly wear out, or more specifically, it yields services or utility over time rather than being completely used up when used once. Most goods are therefore durable goods to a certain degree.
OBJECTIVES
MARKETING STRATEGIES BY DIFFERENT WATCH BRANDS IN INDIA.
TITAN OR TIMEX? WHOSE CAPTURING A GREATER MARKET SHARE.
INDIVIDUAL STRATEGIES. WHAT ARE THE CONSEQUENCES? RECOMMEMDATIONS FOR THE
COMPANY HAVING LOW MARKET SHARE.
The two competitive products are Fastrack - 720PL01from Titan and Timex Chronographs T27601 from Timex.
TITAN BE MORE
TITAN
FOUNDED IN: 1987 HEADQUARTERS: India AREA SERVED: 4 continent and 32 countries
India and other countries esp. Middle east, Asia Pacific and Africa
Has Customer base of over 80 million. INDUSTRY: Watches PRODUCTS: Watches, Jewellery, Eyewear &
Precision Engineering EMPLOYEES: 3,000 PARENT COMPANY: TATA
Values and Standards
Total customer orientationEmployee appreciationPerformance culture and teamwork Creativity and Innovation Passion for excellence Corporate Citizenship
TITAN’S BUSINESSES
Watches
Jewellery
Precision Engineering
Prescription Eyewear
Strategies
Innovation Quality Creative Advertising
Aamir Effect ‘Catalogue’ Advertising
Retail Stores Cutting Edge Technology
BRAND AMBASSADOR
Retail Stores
Of titanALL INDIA
10000Dealers
2300Towns
World Of Titan177
Showrooms104
Towns
Service Centers616
Centers
314Towns
Market Capitalization (Rs. in Cr.)
218500
1018
3530
4400 5300
0
1000
2000
3000
4000
5000
2002-03
2003-04
2004-05
2005-06
2006-07
May-08
Market Cap.
Crossed
Billion $
MAJOR COMPETITORS
Domestic Level- HMT
Maxima-quartz
Casio
International level- Espirit
Swatch
Citizen
Seiko
Marketing Mix (4P’S)
PRODUCT
Edge RagaOctan ZoopWWF HeritageOrion NebulaSonata ExactaSpectra DashRegalia FastrackRoyale ClassiqueXylus Eye +Titan Bandhan watches
PLACE
World of Titan ShowroomsTime ZoneTraditional OutletsNon Traditional Outlets
PRICEPricing Objectives
1. Survival (i.e. Titan Exacta)
2. Market share (i.e. Titan Sonata)
3. Market skimming (i.e. Titan Nebula)
4. Product quality
• Pricing method
1. Product line pricing
2. Promotional pricing
• Application of pricing strategy
1. Lower segment
2. 1000 plus segment
PRICERaga Diva- Rs 4000-9500Zoop- Rs 5200- 6000Nebula- Rs 26000- 85000Octane- Rs 5250- 7000Orion- Rs 3200- 7500Fastrack- Rs 500-4500
PROMOTION
1. Advertising
2. Sales promotion
3. Public relation
• Titan brand ambassador:• Titan Brand: Aamir Khan • Sonata: Mahendra Singh Dhoni• Raga: Gul Panag, Rani Mukherjee Xylys: Rahul Bose Fastrack: John Abraham
Titan tagline: Be more
Fast track tagline: How many you have?
Public relation
•Gift concept
•Promotion On Occasions
Advertising media:• Television• Print• Internet
Sales promotion
•Sponsorship
•Seasonality
•Promotion through Contests
Features of Fastrack - 720PL01:
Brand: Titan fastrack Strap material: leather ABS: (plastic) case, date display Analog display with '2','4','10'
numerals 3 hour indexes with date calendar &
Water resistant upto 50 meters Stainless steel case material and
stainless steel or leather strap.
Market Share of Key Players
60%18%
12%
10%
Sales
Titan Timex
HMT others
JOINT VENTURE WITH TIMEX
TITAN HAD A 5 YEAR COLLABRATION WITH TIMEX.
BOTH THE COMPANY MERGED TO GRAB A BETTER MARKET SHARE.
AFTER ACHIEVING THEIR RESPECTIVE POSITIONS THEY DECIDED TO PART AWAY.
THEIR DEAL ENDED ON 23RD DECEMBER 1997.
TITAN IS NOW WORKING AT A HIGHER POISITION AFTER THE SPILT UP BUT ITS STILL SEEN THAT TIMEX WAS WORKING UNDER THE NAME OF TITAN.
timex Since 1854
TIMEX WORLD
In market since 150 years
Ranked No. 1 in U.S.A in 2001
Largest selling brand in U.S.A & Canada
Focus- Quartz based wrist watches in India.
Lowest cost watch manufacturer in the world.
SEGMENTATION
o YOUTH
o KIDS
o HIGH END
o FASHION
o SPORTS
TIMEX PRODUCTS
PRICE
Timex Chronographs T27601 Rs. 5,595
Timex Formals A047 Rs. 835
Timex Formals LX00 Rs.1485
Timex watch EJ04 Retro Range Rs.400 Timex Steel UT09
Rs.1345
PROMOTIONTimex -The Official Timekeeper India Open2006
Timex amongst Top 50 power brands in the US.
Timex introduces special offer this Valentines for Cupid Struck hearts
TIMEX Brand Ambassador Brett Lee unveils the "new look" TIMEX in 2009
Timex is the official licensors of the ICC cricket world cup in India in 2011.
PLACE
Traditional Outlets (only 6) THE TIME WALK Non Traditional Outlets
20 service centers in India
ERRORS
No differentiated marketing strategy for India
Name of the showroom
Features of Timex Chronographs (T23821):
Analog display with '2','4','10' numerals
3 hour indexes with date calendar
Stainless steel case material and stainless steel or leather strap
Water resistant upto 50 meters.
Comparison - Titan and Timex
Celebrity Price Advertisements Parent company Large product line R & D
RECCOMENDATIONS
PRODUCT Should make more designs trendy watches for the gen x
More variety for girls’ watches.
Should launch a different product line E.g.. Eye wear, bags, laptops.
Better CRM-increase in consumer affluence
Attractive packaging
PROMOTION Using Indian celebrities in the ads which focus on Indian context like festivals.
Funny or impressive punch line.
Special offers.
Colorful banners.
RECCOMENDATIONS
o PRICE
youth watches between Rs.500-1800
sports watch- Rs1200-6000
men’s and women’s collection- Rs800-6200
PLACE Increase the number of Exclusive outlets
Name the showroom under the name of TIMEX
THANK YOU