MARKETING MANAGEMENT

Titan Industries Limited, formerly TITAN WATCHES, is a joint venture of TATA group and The Tamilnadu Industrial Development Corporation. It was promoted in the year 1987. By the year 1990, TITAN emerged as the leader in the Indian quartz watch market, selling six million watches with 60 per cent market share. The watches are currently sold in 40 countries through marketing subsidiaries in London, Dubai and Singapore. Titan’s expertise in marketing and brand building has elevated Titan to therefore front of Indian brands. Titan has been ranked as India’s leading consumer durables marketing company. Winning awards for excellence has become a way of life with Titan. Titan adopted an aggressive product strategy. They offered a wide and attractive range of quality watches. They offered Dual Time, World Time, Alarm and Long Battery Life Watches. Titan offered a product that combined quality and fashion. Opting for quartz was another important technological decision. Titan went in for the most modern technology and the best international collaboration. TITAN flew down technicians from Europe to train its Indian Staff. To ensure quality TITAN resort to Vertical Integration. They started manufacturing watch cases and other components. Titan positioned their watches as an ornament. It is not a product showing time, watches are expressions of taste and style. It is the most popular gift item to parents, children and life partners. High profile distribution was dominated by the showroom concept. Titan opted for franchising and was very selective. Now, there are more than 6,000 retail shops. They are backed by an excellent service network. They underpriced battery, repair & service charges. In promotion too, TITAN chose an aggressive approach. They spend over Rs.20 chores per year for advertising. While TITAN has conquered all domestic players, global competition poses a new challenge. Import Liberalization and Import duty reduction will force TITAN to modify its marketing strategy.

Answer the following question.

Q1. Explain the following Marketing Mix variables of TITAN. (i) Product (ii) Promotion (iii) Price (iv) Placement.

Q2. Explain the main components of Titan’s marketing strategy