Brand Audit Titan Watches Essay Sample

With presence in over 4 continents and 40 states. $ 1. 46 billion company. Titan is the World’s fifth largest and India’s largest carpus ticker maker. The company has grown to develop and offer Titan. Octane. Regalia. Fastrack. Nebula. Raga Xylys trade names in the wrist ticker market and has extended to jewelry and accoutrements market through the trade name Tanishq in 1995 and more late has entered into oculus wear by establishing oculus cogwheel dark glassess and prescription dark glassess. As market leaders with over 60 % market portion in domestic organized ticker markets. Titan has late claimed to hold manufactured the world’s slimmest ticker – Titan Edge through devotedness to extensive R & A ; D activities.

Titan had set up its first works for the industry of parallel electronic tickers in the province industries promotion corporation of Tamil Nadu at Hosur in the twelvemonth 1984 and went on to acquire into an coaction understanding with France Ebauches for proficient certification and aid in procurance of equipment and stuffs. In the twelvemonth 1991 a joint venture Company along with Economic Development Council of Goa. Daman & A ; Diu Ltd. . in the name of Titan Time Products. Ltd. . was set up at Goa. for the industry of Electronic Circuit Blocks. The name of the Company was changed from Titan Watches. Ltd. to Titan Industries Ltd. in the twelvemonth 1993. in position of the fact that the Company’s merchandises consisted of non merely tickers but besides jewelry. Since so the company has systematically captured new markets and thrown out many bing participants to capture market leading in the domestic market and markets abroad.

Product Related Attributes

Some cardinal alone characteristics of Titan are:

1. Distinct tickers in Gold and Leather.
2. Stylish tickers in Gold and Cherished metals.
3. Contemporary tickers in chromium steel steel to defy asperities of day-to-day life.
4. Casual tickers for childs and for out-of-door usage.
5. Jewelry tickers in 18 carat Gold. studded with Gems and coloured rocks.
6. Use of plastic dials for bold and modern-day design.

Brand portfolio

Some of the most noteworthy trade names in the TITAN’s portfolio are:

Titan Edge – World’s slimmest ticker ( at 3. 45mm ) that epitomizes the doctrine ‘less is more’ . Titan Raga – a feminine and deluxe accoutrement for today’s flush adult female Nebula – tickers crafted with solid 18k gold and cherished rocks Sonata – India’s largest selling ticker trade name to suite the common man’s billfold Xylys – a Swiss-made. impeccably designed ticker for the cognoscente and new age achiever Fastrack – tickers created to accessories the voguish young person of today

The ticker division besides boasts of aggregations such as Automatic. Heritage. Nebula. Orion. Raga. Zoop and series like Aviator. Octane and WWF. Brand Exploratory

Customer Knowledge

TITAN has revolutionized the ticker market by doing quartz its ticker and is the undisputed leader in the section. Many consumers’ trade name associations for TITAN were “simple and stylish” . “Elegant” . “High Quality” . The mental map is given below for the TITAN tickers.

Beginnings of Brand Equity

The trade name name “TITAN” is classical and is based on Greek mythology.

Brand Name

Tagline: Be MORE. WHAT’S YOUR STYLE

Logo:

The permeant blue-coloured Tata logo which was planned by the Wolff Olins consultancy was given a alteration to do it more Grecian like. controling the circle around to do a base and giving it black and gray color mergers and so the TITAN logo was born. The logo represents indeterminateness.

Brand Meaning: Titan personifies anything of size. strength. or accomplishment.
Memorability: The name is really easy to remember and acknowledge

Likeability: The trade name name is basically expressive and cogent.

Movable: The name Titan means achievement and anybody have oning a Titan is an winner is what is communicated. It can easy be applied across all merchandise classs and geographicss.

Legal Protection: The trade name name is lawfully protected in tickers.

Motto: “BE MORE”
Titan was launched in 1987 when tickers were seldom fashionable and catered to the basic demand of cognizing the clip. TITAN brought in the manner construct and bit by bit built its trade name equity.

Jingle: Mozart’s Fifth Symphony
Titan has a typical signature melody taken from Mozart’s 5th symphonic music. Colossus pioneered the construct of endowing tickers and with the signature tune the tickers caught the attending of many.

Ambassadors:

?Aamir khan is the trade name embassador for TITAN
?Mahendra Sing Dhoni is the trade name embassador for SONATA. ?Rani Mukherjee is the trade name embassador for Raga
?Also Titan releases batch of advertisement during festivals.

By being associated with Amir Khan. M. S. Dhoni. Rani Mukherjee it has clearly communicated that this ticker is the pick of Leaders.

CBBE Model for Titan Watches

In the CBBE theoretical account. Titan is doubtless in the Resonance phase. Peoples used Titan tickers over clip and they seem rather satisfied and happy with their experience. which explains the repetition purchases. Titan as a trade name is highly strong and besides has delivered its promise over the old ages. So. there is a sense of satisfaction/accomplishment when the merchandise is used. which in bend agencies Titan has connected highly good with its mark audience through all its trade names. Customers experience attached to Titan tickers and therefore exhibit great trueness towards it. Recommendations

Statistical analysis suggested that Brand attitude parametric quantities such as Attractiveness. Desire. and Superiority are in important factors for trade name TITAN. This may be because of batch attractive and better theoretical accounts available ( harmonizing to consumer perceptual experience ) due stiff competitory stigmatization by other Watch shapers such as TIMEX. SWATCH & A ; CITIZEN etc.

TITAN needs to shift the stigmatization activities by projecting “Superior” and “Desire” as new trade name elements. Particularly Male community has to be targeted for these elements. Statistical analysis besides suggests that the consumer perceptual experience on TITAN BRAND merchandises is non important when it comes to the merchandise property “Exceptional” . This shows the trade name singularity is deteriorating for TITAN trade name. TITAN must redesign branding scheme to shift their merchandises as unique to prolong the trade name equity.

Again as we have statistical grounds to turn out that geographics has played a important function in lending to the consciousness of the trade name. we can place the geographical countries that are weak in consciousness and as India is an emerging market the volumes that can be generated by mere addition in trade name consciousness in certain targeted countries can convey gross revenues volume to the concern. Besides by cognizing where precisely the trade name consciousness is high. the company can afford to cut down upon its selling disbursals in those sections. As gender affects the trade name attitude. the trade name can be made to provide to adult females by emphasizing on properties like likeability quality and desire. Besides with the luxury of the jewelry subdivisions like Tanishq. colossus can leverage the jewelry division’s trade name names and collaborate with the ticker division and come up with incorporate high terminal tickers that can provide to high terminal adult females clients and thereby addition profitableness. With the coming of Chinese. Nipponese and Korean merchandises in the domestic ticker markets. a batch of extra tickers have been manufactured and sold at low cost. This phenomenon of extra tickers might earnestly impact the grosss of TITAN. So company can present holographs or RFIDs etc. and preserve and forestall their loyal clients and possible clients from acquiring beguiled by the ticker sellers.

Titan can work the rich cultural diversenesss of the domestic market and can turn to the cultural demands of its clients by incorporating its scope of products/offerings specific to cultures/festivals etc. A figure of new discrepancies can be introduced maintaining in head the cultural demands of the clients and its scope can be channelized to make a cultural individuality for the clients. The company can hold affiliations with schools and colleges across the state and can increase its market incursion by urging the educational establishments to offer their merchandises to the new pupils. Besides the company must seek to understand the emerging consumer demands in the immature coevals and seek to be updated and besides some riotous technological invention like holding a wireless tuner card in a ticker. wellness proctor incorporated in a ticker. holding a speed indicator. digital camera etc. to remain abreast with the competition and maintain and grow market portion.

Titan can widen into new markets like billfolds. pocketbooks. apparels etc. before any of its rivals in this merchandise class would come in and thereby increase its trade name equity and develop long term relationships with its clients.