Phase I : 1987 to 1991 : Creating a brand In 1987, Titan Watches Ltd. launched quartz watches, branded Titan. The primary task in this phase was to endow the name with a set of values which would enable it to address a market where consumers were not familiar with or favourable towards the product. (Quartz Watches); and where competition was diverse – ranging from the old & established “hallmark of quality” brands like HMT to the large ubiquitous smuggled watch market encompassing brands like Citizen and Seiko, and a host of relatively unknown ones. A further consideration in the choice of brand vales for Titan was they should enable the brand to sell at a price premium over similar competing options – this was an integral part of the business strategy of the company. After careful consideration, the core values selected for Titan were “International style & quality “, and the process of brand building began.
Phase IA & IB : A Detour : Responding to a new entrant in the watch market In 1988, Allwyn, an Indian competitor, launched a low price polyamide range of watches branded Trendy, inspired by the Swatch success in Europe. The brand values that the Trendy name embodied resulted in the beginning of the creation of a “young adult and teenager – fashion...