...Case Study - II Batch 2014 XYLYS – EXPLORING 601 – Pratikshya Mishra 635 – Trishna Datta 701 – Sonakshi Arora CONSUMER PERCEPTION ABOUT PREMIUM WATCHES IN THE INDIAN CONTEXT Indian Market • Avg Growth Rate : 8% per annum for five years • Despite declining global trends, the value and volume figures for 2009 stood at 40.6 Billion units and INR 54.6 billion. • The rate of growth was 8.5% in value and 15.4% in volume. • Premium Watch Segment Growth Rate : 20% p.a. • First Company: HMT launched in 1960‟s • Titan, a TATA and TIDCO joint venture started in 1984, is currently the top player of the Indian market. • After 1992 liberalization, Timex was the first off-shore brand to step into the Indian market. • Timex was followed by Casio, Rolex, Citizen, TAG Heuer, Tissot, Omega, Swatch etc. Players IN Indian Watch Market % of Market Share 21% 6% 65% 8% Titan Swatch Timex, Citizen, Maxima, H MT and others Unorganized Sector Segmentation of the watch market Mechanical – INR 3,000 M • Quickly went out of fashion • Market share dropped from 7.2% to 4.6% in 5 years Quartz Analog – INR 46,000 M • Largest in value and volume • Market driver for growth in 2009-14 Quartz Digital – INR 6000 M • Consumer perception of being low quality and lacking in style Segmentation of the watch market 5% 35% Casual 60% Formal Sports Segmentation of the watch market Mass Market Mid Market Premium Market (< INR 1,000) (INR 1,000-10,000) (> INR...
Words: 1436 - Pages: 6
...S. RAMESH KUMAR AND KASTURI BARAL rP os t IMB 349 XYLYS: Exploring Consumer Perception about Premium Watches in the Indian Context BACKGROUND op yo Manoj Chakravarti, Senior Advisor, Titan Industries reflected on his 28 years in the watch industry, both in India and abroad, and contemplated about Xylys, Titan’s premium watch brand, and its foray into the Indian market. He had formulated several aspects of marketing mix strategies in the past to face diverse kinds of challenges. For Chakravarti, any challenge in the watch industry, especially in an emerging market such as India, was something he looked forward to, as it gave him immense satisfaction when he was able to find some insights. Xylys was a premium watch brand launched by Titan a few years ago; the brand was aimed at creating a unique perception among consumers. The challenge was to create and shape a perception unique to the brand, since premium watches in India were associated with the Swiss brands Omega and Rolex, or Tag Heuer and other similar brands, which were more contemporary in nature. There were several interesting possibilities for Chakravarti to consider. Would a conventional-positioning approach be sufficient? Was it necessary to obtain some insights regarding the application of the uniqueness aspect to the self-perception of consumers? How were such aspects of uniqueness related to other established brands? How important was the “Swiss-made” label? Did the buyers and prospective...
Words: 7510 - Pages: 31
...overall production of wrist watches declined around the world, however, there was an increased demand and sales growth for luxury and premium watches in the Indian market. There was an increasingly high demand for luxury watches in India starting eighties. Luxury watches were bought for their symbolic significance and experiential benefits. It was basically attributed to the major lifestyle changes. The other brands having high demand in luxury segment in Indian market were Tissot, Rado, Omega, Tag Heuer and Longines. Xylys is a premium Swiss brand housed by Titan in India. At the launch of the Xylys brand in 2006, the management of Titan Industries created a unique brand perception for Xylys in the consumer market. The brand employed it with style and attitude and was directed towards both men and women who were conscious of their image projection. The aim of the brand was to inculcate in them a sense of pride with the ownership of the premium Xylys brand. ANALYSIS The commonly used basis for segmenting the consumer market for watches is technology, benefit sought and price. This segmentation basis, although widely used, doesn’t give a clear picture...
Words: 885 - Pages: 4
...MARKETING ASSIGNMENT PERSONAL LEARNING PAPER- TITAN Submitted By: Priya Mariam Simon TITAN Introduction Titan is the market leader in the Indian watch industry. Titan had revolutionized the watch market with its emphasis on style and international quality. It had created strong brand equity in India and some overseas market. It has also established a strong presence in the area of branded gold jewellery. Titan with its top management team and the backing of the TATAs has achieved one of the leading marketing companies. Company History Titan was set up in July 1984, under the leadership of Xerxes Desai, with its corporate office in Bangalore. When it entered the market, HMT was the market leader. Titan went ahead with its plan to make the quartz watches. The company made only a handful ordinary looking quartz watches and had neglected styling as a whole. Titan believed that the Indian consumers desire to own a good looking watch had been totally ignored. Titan decided to grow the market by encouraging ownership of multiple watches thereby stimulating the purchase of replacement watches and targeting under penetrated segments like women and first time buyers. Titan looked at new business opportunities. Titan realized that its watches alone might not be able to price open the global market. The Company’s diversification into jewellery was a good gamble. Tanishq was branded and had been set up as an export- oriented...
Words: 1543 - Pages: 7
...showing an interest in owning premium and luxury watches. This trend picked up traction in 2014 and 2015. Urban Indian consumers are perceiving watches as a fashion statement and are now willing to own more than one. This style trend has gathered momentum among both men and women consumers. The rising importance of watches as a fashion accessory among urban youth helped watches register retail value growth of 19% in 2015, with sales reaching Rs76.7 billion. COMPETITIVE LANDSCAPE * Titan Industries Ltd continued to be the clear leader in watches with a retail value share of 40% in 2014. The company also posted the biggest increase in actual retail values sales during 2014. The company’s top five brands – Titan, Fastrack, Sonata, Zoop and Xylys – performed well and received a good response from consumers. Also, the company has licensed brands Tommy Hilfiger, fcuk, Timberland and Police in the Indian market. The company has traditionally been the largest player in the watches category in India and has a presence in over 220 towns. It has over 400 World of Titan stores and over 150 Fastrack stores across the country to cater to its consumers. The company also has over 50 multi-brand outlets named Helios and is present with its shop-in-shop stores in large-format retailers, such as Shoppers Stop and Lifestyle. The company, in order to tap into the rising trend of internet retailing in India, operates its own e-commerce site www.titan.co.in. PROSPECTS * Over the forecast period...
Words: 462 - Pages: 2
...TITAN INDUSTRIES Promoted in the mid-Eighties by the Tata Group and Tamil Nadu Industrial Development Corporation Limited (TIDCO), Titan Industries is a unique instance of how ideas can be taken from scratch and transformed into winning brands that generate value, create entire market spaces and then consistently dominate these spaces Business divisions- Time product division Jewellery divison Eyewear Precision engineering Even as the Indian economy encountered a challenging 2011-12, the Company recorded its best-ever performance. In 2011-12, the Company’s sales income grew by 36.5% to Rs. 8,970.86 crores compared with Rs. 6,570.86 crores in the previous year. Creditably, the percentage growth of our bottom lines was higher: profit before tax grew by 40% to Rs. 838.44 crores, while net profit grew by 39.4% to Rs. 600.16 crores. Even though the Indian economy grew slower in 2011-12, Titan Industries Limited reported a stronger growth on account of a deep understanding of consumer preferences, product differentiation, new product launches and professional brand management INDIAN WATCHES MARKET Only 27% of all Indians own a watch. This statistic demonstrates the significant potential for growth, particularly as Indians become more affluent and style-conscious. The Indian watches market is estimated at around 53 million units in 2011, valued at approximately Rs. 4,500 cr. The market grew by about 14% in 2011. The catalysts...
Words: 853 - Pages: 4
...TANISHQ Tanishq is the leading, prominent jewellery brand in India. It is the largest, most desirable and fastest growing jewellery brand. It pioneered the concept of branded jewellery in India. Being a division of Titan Industries Limited, a company promoted by TATA group, it is one of India’s largest conglomerates. The name was formed by combining ‘Tata’ and ‘Nishk’ (meaning necklace). Another combination is ‘Tan’ (body) and ‘Ishq’ (love). Located at Hosur, Tamil Nadu, the 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Tanishq has an exquisite range of gold, gems and diamond jewellery system prevalent in the country. It has set up production and sourcing bases with thorough research of the jewellery crafts in India. It introduced innovations like karat-meter, the only non-destructive means to check the purity of gold. It also introduced professional retailing in the un-organized jewellery bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewellery they are buying. It has successfully taken up the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers. HISTORY: The Tanishq saga began in the early 1990s, primarily fuelled by the fabled TATA entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign...
Words: 1245 - Pages: 5
...success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold over 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India's most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury segment. Titan Industries has also made its foray into eyewear, launching Fastrack eyewear and sunglasses, as well as prescription eyewear. The organization has leveraged its manufacturing competencies and branched into precision engineering products and machine building.With over 827 retail stores across a carpet area of over 10,08,083...
Words: 3239 - Pages: 13
...Marketing Management 1 - Project Section 2 – Group 9 Avani Sahu – DM16210 Harleen Kaur – DM16217 Megha Shah – DM16229 Priscilla Evangeline Soundararaj – DM16234 Sweta Ramdas – DM16249 Table of Contents Introduction 2 Market Segmentation 3 Targeting 5 Positioning 6 Bibliography 10 References 10 Introduction Titan was established in the year 1984, becoming the third Indian watch manufacturer after HMT and Allwyn. Titan is the 5th largest Watch Manufacturer Company in World. TITAN has now become Titan Company Ltd. The company operates in five areas - Watches, Jewelry, Eyewear, Fragrances/Perfumes and Precision Engineering. Some of the well-known brands of Titan include Fastrack, Sonata, Raga, Edge, Octane, Xylys, Titan Eye+ and Tanishq, Goldplus, Zoya. Fastrack was launched in 1998, aimed at the youth segment. Their target was boys and girls between the ages of 15 and 25. It was promoted with the slogan ‘cool watches from Titan’. Basically Fastrack was a sub-brand endorsed by Titan and was promoted as Titan Fastrack in most of the campaigns. In 2004, Fastrack launched its range of sunglasses when a market research results showed the popularity of sunglasses, mobiles, deodorantsetc. among the urban youth. These products were looked at more as an accessory than utility by the Indian youth at the time. Sunglasses also fitted rightly as a brand extension for Fastrack watches. There was no Indian sunglasses brand at the time and it provided great opportunity...
Words: 2259 - Pages: 10
...INTRODUCTION Theory & Concept “A business has two – and only two – basic functions: marketing and innovation.” -Peter Drucker The rapid pace of change and intense competitive pressure in today’s marketplace demand that brands continuously innovate and reinvent themselves to maintain their relevance and market position. In this context, brand repositioning and other revitalization strategies have become a business imperative for battling brand erosion. The appeal of brand repositioning is further heightened by the rising costs and high risk associated with launching a new brand. Brand repositioning has received little attention in the marketing literature and has mostly been treated as a variation of brand positioning. Biel, for example, has defined brand positioning as “building (or rebuilding) an image for a brand”. The goal of positioning and repositioning strategies relates to the management of consumers’ perceptions. However, positioning focuses on the creation of band association – consumers’ perceptions of the attributes that differentiate the brand from competitive offers – while repositioning also implies managing existing brand associations. The unique challenge of a repositioning strategy thus lies in rejuvenating the brand image to make it relevant in an evolving environment, while honoring the brand equity heritage. Repositioning can be required as the market changes and new opportunities occur. Through repositioning the company can reach customers they...
Words: 8652 - Pages: 35
...The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch – Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India’s most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury segment. Titan Industries has also made its foray into eyewear, launching Fastrack eyewear and sunglasses, as well as prescription eyewear. The organization has leveraged its manufacturing competencies and branched into precision engineering products and machine building. With over 826 retail stores across a carpet area of over 10,08,083...
Words: 11529 - Pages: 47
...“PERKUPOLDIES LTD. – A POCKET WATCH COMPANY” presents [pic] “VASSILY” Group 1 |NAME |ROLL NO | |ALANKAR SINHA |25 NMP 03 | |SUDHIR SINGH |12 EM 13 | |VIKAS AGGARWAL |25 NMP 44 | |SMITHA H S |25 NMP 42 | |ALOK SHUKLA |25 NMP 04 | |LAAVANYA SOI |25 NMP 21 | [pic] Table of Contents 1. Executive Summary 4 2. Situation Analysis 6 2.1. Macro Environment 6 2.1.1. Regulatory 6 2.1.2. Political 6 2.1.3. Economic 7 2.1.4. Social & Cultural 7 2.1.5. Technological 8 2.1.6. Demographics 8 2.2. Micro Environment 9 2.2.1. Intermediaries & Distribution 9 2.2.2. Company 10 2.2.3. Suppliers 10 3. Product Category Review 10 3.1. General description...
Words: 3922 - Pages: 16
...Jewellery & Gems Industry * Group 10 * K Ashwin * Himanshu Raj Gupta * Lalit Mittal * Kaustav Ghosh * Meghna Singh * Kishan Khedia * Gunjankumar Solanki Table of Contents Executive Summary Situation Analysis Climate (PEST) Company Gitanjali Gems Tribhovandas Bhimji Zaveri Titan Industries Ltd (Tanishq) E-commerce in Jewellery Customer Analysis Collaborators Porter’s 5-forces analysis Problem Brand : TANISHQ Executive Summary According to a report by Research and Markets, the Jewellery Market in India is expected to grow at a CAGR of 15.95 per cent over the period 2014-2019.The Gems and jewellery sector in India plays a significant role in the Indian economy, contributing around 6-7 per cent of the country’s GDP. One of the fastest growing sectors, it is extremely export oriented and labour intensive. India is deemed to be the hub of the global jewellery market because of its low costs and availability of high-skilled labour. The gold jewelry exports from India were US$ 554.45 million in December 2014, while silver jewellery exports were US$ 148.49 million, according to the latest data released by the Gems and Jewellry Export Promotion Council (GJEPC). The cumulative foreign direct investment (FDI) inflows in diamond and gold ornaments in the period April 2000-December 2014 were US$ 476 million, according to Department of Industrial Policy and Promotion (DIPP). The sector is witnessing changes in consumer preferences, as the westernisation...
Words: 3803 - Pages: 16
...A SUMMER PROJECT REPORT ON “CHANNEL DISTRIBUTION OF TITAN WATCHES IN WESTERN UTTAR PARDESH” SUBMITTED TO:- SUBMITTED BY:- Resp. Mr. V.S.Solanki sir Chirag Gupta Faculty P.G.D.M(2010-12) IPM, Meerut IPM,Meerut External guide:- Mr Sachin Kumar Singh Distributor (western U.P) cum ASM Titan watches Institute of Productivity & Management PREFACE The PGDM program is well structured and integrated course of business studies. The main objective of practical training at PGDM level is to develop skill in student by supplement to the theoretical study of business management in general. Industrial training helps to gain real life knowledge about the industrial environment and business practices. The PGDM program provides student with a fundamental knowledge of business and organizational functions and activities, as well as an exposure to strategic thinking of management. In every professional course, training is an important factor. Professors give us theoretical knowledge of various subjects in the college but we are practically exposed of such subjects when we get the training in the organization. It is only the training through which I come to know that what an industry is and how it works. I can learn about various departmental operations being performed in the industry, which would, in return, help me in the future when I will enter the...
Words: 8847 - Pages: 36
...TABLE OF CONTENT a) Introduction b) Corporate diversification c) Reasons for Diversification d) Types of diversification strategies e) GOAL of diversification f) RISK of diversification g) Corporate diversification of TATA group h) List of diversification of TATA group i)CONCLUSION Introduction Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. Diversification can occur either at the business unit level or at the corporate level. At the business unit level, it is most likely to expand into a new segment of an industry that the business is already in. At the corporate level, it is generally via investing in a promising business outside of the scope of the existing business unit. Diversification is part of the four main growth strategies defined by the Product/Market Ansoff matrix:[1] [pic] Ansoff pointed out that a diversification strategy stands apart from the other three strategies. The first three strategies are usually pursued...
Words: 7623 - Pages: 31
