Marketing and Communication Strategy of Titan Industries' Watch Division
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Case Details:
Case Code : MKTG110
Case Length : 17 Pages
Period : -
Pub Date : 2005
Teaching Note :Not Available
Organization : -
Industry : -
Countries : -
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts Contd...
Nebula
Nebula launched in 2000, was a premium range of light-weight gold watches, costing anywhere between Rs.8000 and Rs.70,000 (2005 prices). Most watches in the Nebula collection came with an 18 carat gold dial and a leather strap.
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The range was targeted at the top end of the market and was intended to persuade people to wear gold watches instead of plated metal. These watches were positioned as 'classics in solid gold'.
In August 2004, TIL launched four new 'bridal collections' of Nebula designer jewellery watches. The watches in the collection were embellished with precious stones and crowned with sapphire crystal glass and priced between Rs.35,000 and Rs.40,000.
The collection targeted the luxury segment. "Nebula is an asset, which has lifetime warranty and can be passed on from generation to generation...
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Challenges
To a large extent, TIL was successful in enhancing the presence and acceptance of most of its sub-brands. As an IIM-B professor said, "The varied offerings to diverse segments with a clear cut positioning strategy have been instrumental in sustaining the market share of the (Titan) brand.
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(TIL) has to a great extent attempted to balance the positive aspects/associations of the mother brand with the option of using sub-brands to appeal to several segments."
Titan's strategy to project watches as part of one's personality, and not just as a functional product, had also gone down well. But TIL was also facing several challenges.
And industry experts warned that the future would bring with it greater challenges, both in number and severity. TIL had always followed a strategy of serving the entire watch market by offering different variants/sub-brands to each market segment... |
Exhibits
Exhibit I: Financial Results of TIL
Exhibit II: List of celebrity endorsements*
Exhibit III: Collections*
Exhibit IV: The logo of Fastrack
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