“Brand Building & Brand Segmentation Strategy of Titan”
Table of Contents
Sr.No| Particulars| Page No.|
1| Introduction| 5|
2| The Laws of Branding| 7|
3| Factors That Should Be Considered For Effective Brand Building Equity| 10| 4| Effective Brand Segmentation Strategy| 13|
5| Factors or Conditions That Contribute To Successful Segmentation| 13| 6| Sub – Brands of Titan| 16|
7| Customer Relationship Management at Titan| 21|
8| The Road Ahead| 22|
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TITAN INDUSTRIES LIMITED
Effective brand building and segmentation strategy
In 4 continents, 40 countries and 1500 cities around the world, there is a new brand to reckon – “ Titan “, the new world watch. Established in 1987, titan is a part of the $8 billion Tata group, a diversified business conglomerate with interest in automobiles, steel, information technology, telecommunications, energy, chemicals, hotels, consumer products and tea. In a short span of 13 years, Titan has clocked global sales of over 38 million watches and emerged as a world’s 6th largest manufacturer brand with sales last year touching 6 million watches. Currently Titan enjoys a nearly 40% share of the domestic quartz market (more tan three times the size of its nearest competitor) and close to a 50% share among the nationally recognized brands. Titan represents a unique blend of high-end Japanese technology, legendary European design and renowned Indian craftsmanship. It is a product of an extraordinary cooperation between designers, toolmakers and marketers continents. The Titan watch plant is a US $70 million state of the art integrated facility, set in 40000 square meters of floor space, and employs over 2500 professionals. A fierce commitment to excellence coupled with some of the most sophisticated manufacturing technologies in the world helps Titan deliver world class products in an incredible variety of designs and styles. Every Titan is powered by robust movement, tried and tested in the hot and humid conditions of Asia and sold with confidence of a unique one year guarantee and an unmatched two year guarantee on the watch.
Titans renowned design skills have helped create an exclusive range of jewellery watches…”TANISHQ”. In India, 35 world-class boutiques exclusively sell Tanishq brand jewellery made by Titan. Product styling, which is truly contemporary matched by superior finish and assured caratage, have helped tanishq establish a leadership position.
Offices in London, Dubai and Singapore and a significant distribution and service base in Europe, Africa, the Middle East, Asia and the Australian drives the company’s business across four continent and forty countries.
It is watches; however that have been Titan’s mainstay and that are perhaps singularly responsible for building Titan industries in to a professionally recognized corporate leader. Titan has been consistently ranked as India’s leading consumer durables marketing company for the past seven year’s (1993-99) by the countries leading advertising and marketing publication A&M.
Between the years 1994 and 1998, it was also ranked in Asia’s top 200 companies and India’s top 10 by “The Far Eastern Economic Review”. Finally, and perhaps most importantly, the readers of the Economic Times also recently voted Titan India’s most admired brand.
All of this has of course only been possible through the use of extensive (and needless to say, effective) brand building techniques. In his book ‘Beyond Branding’, Joe Marconi defines a brand simply as “ a name”, and brand equity as the value of that name. He thus defines brand building as “ the process of creating, managing and marketing brand equity by building brand identification, recognition and loyalty”.
In order to truly gauge the extent to which Titan has built itself into a nationally recognized brand, we need only refer to marketing guru “Al Ries” definition of the word, which is “ a...