cbbe- titan
TRANSCRIPT
ABOUT TITAN
Titan Industries was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO).
Titan is the largest watch company in India and the fifth largest in the world.
Its product portfolio includes watches, accessories and jewelry, in both contemporary and traditional designs. It exports watches to about 32 countries around the world with manufacturing facilities in Hosur, Dehradun, Goa
The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.
Titan is one of India's leading watch brands that brought about a paradigm shift in the Indian watch market , offering quartz technology with international styling.
TITAN WATCH DIVISION
Titan Watch division was started in 1987.
At launch it was the third watch company in
India after HMT and Allwyn.
Titan formed a joint venture with Timex, which
lasted until 1998, and set up a distribution
network across India.
As of 2010, Titan watches account for a 60%
share of the total Indian market and are also sold
in about 40 countries through marketing
subsidiaries based
in London, Aden, Dubai and Singapore.
BRAND PORTFOLIO
Titan Edge - World’s slimmest watch (at 3.45mm) that epitomizes the philosophy ‘less is more’.
Titan Raga - a feminine and opulent accessory for today's affluent woman
Nebula - watches crafted with solid 18k gold and precious stones
Sonata - India's largest selling watch brand to suite the common man's wallet
Xylys - a Swiss-made, impeccably designed watch for the connoisseur and new age achiever
Fastrack – watches created to accessories the trendy youth of today
The watch division also boasts of collections such as Automatic, Heritage, Nebula, Orion, Raga, Zoop and series like Aviator, Octane and WWF.
CBBE- CONSUMER BASED BRAND EQUITY
Target segment – Young IT professionals
between the age groups of 25-32 years, with
yearly incomes ranging from 4-10 lakhs.
A consumer survey was conducted on the target
segment to understand the brand equity of Titan
using Kellers four steps of brand building.
A total of 23 respondents were asked to respond
to a survey consisting of 28 questions.
Salience: Strong Depth –Moderate Breadth
• High top-of-mind recall (74%)
• Strong and clear category membership in watch category
• Breadth-Consumers think of Titan as a gifting option during special occasions
• Reliable (91%)
• Easily serviced ( 82%)
• Only 44% respondents like
the look, feel and design
• Highly Competent but not
exciting and rugged
• Daily and weddings wear , not
at all a party or picnic wear
watch
• High Quality
• Value for money
(69%)
• Low brand
consideration
• Low brand
superiority vs.
foreign brands
• Warmth
• Self respect
• Security & Social
approval
• No Fun and
Excitement
• Very Little
Loyalty (17%)
• No sense of
community
• No Engagement
Brand Resonance Pyramid
SALIENCE
The depth of brand awareness is strong as
the brand exhibits high top-of-mind recall
among consumers (74%) when choosing
watches, its main product category. Also,
74% of the consumers can recall the symbol
or logo of Titan.
Moderate Breadth- 61% of respondents think
of Titan as a gifting option for special
occasions.
Q-When you think of wrist watches , which is the
brand that first comes to your mind?
1- Strongly disagree
5- Strongly agree
PERFORMANCE
91% of the respondents think that the brand is
very reliable . The brand has performed
consistently over time .
82% of the respondents believe that the watches
can be easily serviced and are happy with the
network of service centers that the brand has.
(751 service centers in 358 towns).
56% of the respondents don’t like the look , feel
and design of titan watches.
With its watches priced at low to medium price
range , titan makes quality watches affordable
for everyone.
IMAGERY
Titan has a strong brand history , having been
established in India for more than 25 years.
The brand exudes a competence, sincere and
sophisticated image but people do not consider it
exciting or rugged.
58% of respondents consider it as a daily wear
watch , another 27% considering it as a
wedding/occasional wear.
Consumers do not think of Titan watches as
party or picnic wear .
JUDGEMENT
100 % of the respondents perceive the
products as high quality. This could also
be because 69% of the respondents think
that the Titan products are value for
money .
Only 21% are considering to buy a Titan
watch in the next one year.
Very low brand superiority when
competing against foreign brands
1- Low Quality
5-High Quality.
1- Strongly disagree
5- Strongly agree
Q-It makes sense to buy Titan brand instead of any
other foreign brands, even if they are the same in
quality or price
1- Strongly disagree
5- Strongly agree
FEELING
The brand gives a feeling of Warmth, security,
social approval and self respect.
The brand needs to work upon adding Fun and
Excitement quotient.
RESONANCE
Only 17% consumers consider themselves loyal to
the brand which is very alarming for the brand.
If titan brand was not available , it would make
difference to 39% consumers if they had to use
another brand.
Medium attachment with the brand. (39% of
consumers will miss the brand if it went away)
No sense of community
No active engagement with the brand . Only 13%
consumers would be interested in merchandise
with Titan brand’s name on it.
RECOMMENDATIONS
The arrival of international brands at competitive
prices has had an impact on the brand Titan.
Affluent consumers do not consider titan watches as
superior to the international brands and are willing to
spend extra to upgrade to a foreign brand.
The brand needs to work upon the look, feel and
design for the target audience considered in the
analysis .
Even though 100% of respondents consider the brand
as high quality ,they don’t think watches are rugged.
This aspect needs to be communicated better.
Titan should project/design its watches as stylish
which are also suitable as party wear.