Titan Company Limited (Titan), a joint venture between the Tata Group and the Tamil Nadu

Industrial Development Corporation (TIDCO), began its operations in 1984 under the name
Titan Watches Limited. Titan is the fifth largest integrated own brand watch manufacturer in the
world. Over the last three decades, Titan has expanded into underpenetrated markets and created
lifestyle brands across different product categories. Titan is widely known for transforming the watch
and jewellery industry in India and for shaping India's retail market by pioneering experiential retail.

 Vision  

create elevating experiences for the people we touch and significantly impact the world we work in.

 Mission
We will do this through a pioneering spirit and a caring, value-driven culture that fosters
innovation, drives performance and ensures the highest global standards in everything we do.

 Values
Customer first: Customers take precedence over all else, always.

People make the brand: Titanians are at the heart of our success and that is why their dreams
and aspirations are at the forefront of our brand policy.

Culture and teamwork: High performance is a way of life.

Creativity and innovation: Driven by innovation and creativity, we focus on smarter

Passion for excellence: In all our pursuits, we ceaselessly strive for excellence.
 Corporate citizenship: We ensure that a part of our resources is invested in environment and
community bettermen

MARKET OPPORTUNITY ANALYSIS

Market opportunity analysis (MOA) is a tool that identifies and achieve the attractiveness of a
business opportunity. MOA is a part business strategy planning or business planning,

In our case (TITAN) we are going to analyze 4 main factors

1-COMPANY

2-CUSTOMER

3-COMPETITION

4-TECHNOLOGY
COMPANY

Titan was established in 1984 as a joint venture between the giant, highly reputable Tata Group and
Tamilnadu Industrial Development Corporation (TIDCO).  Titan is one of the leading brands in the
lifestyle and retail sector. Its primary aim was to create world-class watches for every Indian. In three
decades, the Company has built an impressive watch business to become India’s largest manufacturer
and one of the largest integrated watch manufacturers in the world. Titan’s strategy of establishing
excellence in every part of the value chain makes it a leader in every industry that it operates in.

TITAN has diversified its companies’ portfolio to include: watches , jewellary,eyewear, It recently
entered the perfume business with Skinn and launched Taneira, a destination for fine silk
sarees.

Income of Titan company in financial year 2020

 Titan also has presence globally. Titan went global in 1991, with the launch of Titan watches in the UAE,
Oman, Bahrain and Qatar.
Operations in Kuwait and Kingdom of Saudi Arabia were launched in 1995-96. Titan further expanded
into South East Asia, offering products in Singapore, Malaysia, Thailand, Vietnam and recently, in the
Philippines and Indonesia. The African footprint, having started with distribution in Kenya and Mauritius
in the mid-nineties, is also steadily growing, with operations in South Africa launched in 2010. Titan
watches are also available in the adjoining countries of Djibouti, Uganda, Ethiopia, Nigeria and Ghana. As
of 2014, Titan’s presence spans across more than 2000 stores, in over 30 countries. With a customer
base of 135 million globally, it’s no wonder that there is a Titan watch being owned, somewhere in the
world – every 3 seconds10 .
COMPETETORS

. Maxima

is an Indian watch manufacturer that was founded in 1996 . Maxima operates in the mass segment and
competes with Sonata of Titan. Similar to Sonata, Maxima offers wide range of watches in the price
range of Rs.300 to Rs.4000 for men, women, kids and couples category. Products offered include:
Fashionable watches for both men and women with quartz movements for accurate time, promotional
watches that can be embossed with a company name, Gold watches, waterproof watches and specialty
watches for scuba divers Today Maxima is available in every part of the country with the support of over
80 distributors, 6000 loyal retailers and e commerce platforms including the company website
. Citizen

Citizen Watches Co. Ltd. of Japan, a US$ 3.7 Billion, multinational company with a 70 year heritage,
sells world-class watches in more than 150 countries worldwide. As one of the world’s leading watch
brand with renowned Japan watch making art, CITIZEN was officially introduced into India through its
local subsidiary company, Citizen Watches (India) Pvt. Ltd. in 1997. The entry was heralded by the
revolutionary concept, Eco-Drive the world’s 1st light powered watches, lending an air of excitement
and expectation around the brand and adding to the excellent equity CITIZEN already had enjoyed in
India.

Citizen roped in English cricketer Kevin Pietersen as its brand ambassador as part of strategy to enhance
image and visibility in India to grow its business in the country. Company believes his sophistication and
style personifies the brand. Citizen has a positioning of “better starts now”
.Timex

Timex Group India Limited is engaged in the manufacture and trade of watches in India and
internationally. Timex company was founded in 1854 it offers wrist watches primarily under the Timex,
Helix, Marc Ecko, Tarun Tahiliani, Salvatore Ferragamo, and Versace brand names; and manufactures
precision injection molds and injection molded plastic parts for watch business, as well as provides
spares and after sales service to its customers. Joint venture between Timex Corp, USA and Titan
Industries, where both the partners held 30 per cent equity,20 parted ways in 1998. Most of the Timex
watches are priced in the range of Rs.1000 to Rs.25000, but it has offering up to Rs.16000. Timex mainly
offers watches in outdoor, sports and style category. Intelligent Quartz, Weekender, Expedition, Sports
Ironman, E-class, Classics, Bangle are some of its collections. Bangle is a brand targeted at women and
Intelligent is only for men. Other collections are either unisex or have products for both men and
women. It sells its watches through its exclusive “Time Factory” (renamed in 2014 as Timex World)
Outlets and multi brand retail outlets. Timex had signed Australian cricketer Bret Lee as a brand
ambassador and it has also used celebrities like Bipasha Basu during launch of new models. For long
time Timex used the positioning of “what next” conveying that Timex moves on with Time. In 2014 as a
part of rebranding exercise it changed the positioning to “Wear it well” which is in line with the global
positioning of Timex which acknowledges that men and women no longer wear a watch to simply tell
time – they wear a watch to make a statement about themselves.
.Seiko India
 SEIKO Watch India Private Limited is a 100% subsidiary of SEIKO Watch Corporation, Japan. Set up in
2007, it is headquartered in Bangalore. Sells around 350 watch models with prices starting from Rs 7000
to around Rs 5,00,000. The main sub-brands under Seiko are Seiko Velatura, Seiko Premier, Sports,
Astron, Seiko Grand and Ananta which are targeted at the premium and luxury segment and compete
with other brands such as Tissot, Xylys, Omega and Rado. Seiko takes pride in the fact that they invented
the quartz watch in 1969, the Kinetic watch in 1988 and Astron GPS Solar-The only watch in the world
that identifies all 39 time zones using the GPS technology in 2012.22 Seiko has come a very long way
since they launched the brand in India in 2007. As of 2014 they are one of the top 3 brands in the
Premium segment of the Indian Watch Market. They retail Seiko from more than 350+ of the best stores
in the country. Between 2010 and 2013 the company has grown at a CAGR of around 50%. India is one
of the top 4 priority markets for Seiko Watch Corporation, worldwide. Being an international brand
Seiko has been at the forefront of world sport, supporting international events, including six Olympic
Games, four soccer World Cups and twelve athletics World Championships.

Rising star of Russian athletics, Darya Klishina is a face of Seiko’s women collection and Seiko tries to
convey the message of Seiko as a perfect brand through her. Tennis star Novak Djokovic are brand
ambassadors. Seiko believes that his attitude of “being one step ahead”

TECHNOLOGY
INNOVATIONS

DRIVEN BY THEIR VALUES , Innovation is a way of thinking at Titan Company Limited

Titan Company began its operations with an innovative offering - quartz watches - that changed
the face of the Indian watch industry. Innovative ideas at Titan Company have led to significant
achievements such as Single Point Solutions to every Original Equipment Manufacturer
customer. Titan Edge, world's slimmest watch, is probably the best example of the spirit of
innovation in the organization – a feat achieved in less than five years of our existence.
“Innovation School of Management” (ISCM) has been started to address the objective of
creating the ability to innovate and making it a culture among the employees. At ISCM, students
are trained on various tools and techniques to develop innovative thinking capability, and the
Head of Departments are trained as a Mentor to use the innovation outcomes. Tools and
techniques enable students to think out of the box and beyond the obvious. The graduates from
ISCM deploy this learning to resolve problems at work, as well as in their personal lives
.

Titan Innovation Council (TIC): TIC is a cross functional team of Senior & Middle
Management to create ideas to spread the innovation culture across Titan Company. They have
created and drive the following:

1.Innovation Bazaar: This is an initiative to cross learn the innovative ideas among the
company and showcase the ideas of all the divisional improvement / innovation in four
categories: a) Process, b) Services, c) Design / Product and d) Marketing / Retail / Customer
service through “Innovation Bazaar” to all the employees of the Company to understand the
happening in the other divisions / functions and to improve their process.

2.Interweave: This is an initiative that provides an opportunity for different businesses to

3.Tata Innoverse: This is a web 2 based social net working platform, to enable employees of
Titan Company as well as other Tata Companies to provide innovative ideas to challenges
posted by Senior leaders. Employees can also comment and vote on ideas submitted by other
employees. We have also extended Tata Innoverse to our supplier fraternity.

4.Innovation centre: Innovation centre is a space to generate great ideas and provides a free,
creative Innovation centre space, where interchange of ideas and unhindered experimentation
has a home. It consists of two spaces. The first hall is the Xerxes Desai Hall of Creativity, which
harbours the Exploration Laboratory, Reference library and Study Area. The second hall is the
Bhaskar Bhat Hall of Tranquillity, is the hall where prospective innovators can meditate,
introspect, listen to lectures or practice yoga.

5.Titan Innovation HUB: Set up at IIT- Madras Research Park, Chennai, it enables Titan to
leverage the specialized expertise of the faculty and students and to utilize their facilities, labs in
creating a collaborative environment between industry and academia through joint research
projects and consulting assignments and in creating a self-sustaining and technologically fertile
environment.
 The company that entered smart wearables segment in 2016, also announced the launch of a full-touch smart
watch with analog hands. It already sells activity bands and hybrid watches

Tata Group-owned Titan Company has acquired Hyderabad-based technology firm HUG Innovations for an
undisclosed amount as it looks to strengthen its smart watches and wearables division.

The watchmaker will form a development centre in Hyderabad with HUG in hardware, firmware, software and cloud
technology and has appointed the company's founder Raj Neravati to head technology for wearables at Titan
Company.

https://youtu.be/3S1HuSJKcDI

CUSTOMER
Titan Company has created and sold more than a 150 million pieces over the world . With a production
rate of over 15 million watches per annum and a customer base of over 135 million globally

Titan Company has brought forth four core watch brands to different segments of the market :

 Titan which is designed for the mid-premium segment

 Fastrack which is crafted to fit the trendy fashion space with a focus on the youth
 Sonata which is created for the mass market and has emerged as India’s largest selling watch brand

 Xylys  is an exclusive brand of Swiss-made watches brought home by Titan.  which is fashioned for the
premium market, aiming at the connoisseur and new-age achiever
1. Titan has a large 1. India is an under 1. Broad target
network of exclusive 1. Titan has to penetrated market for segment may lead to
stores and service face issues to watches lack of focus in
centers tackling fake 2. Global expansion brand strategy
2. High top of the imitations and tie-ups with 2. Stiff Competition
mind recalls of the 2.penetrated global watch and faced by foreign
brand the global Jewelry brands brands, particularly
3. Different sub- market as 3. Titan can focus on in the premium
brands under the some other more brand segment can
brand Titan have intec) awareness and decline Titan's
been successful in 3.Kids are having watches market share.
their positioning fascinated with catering to every 3. Being an
4. One of the world’s segment international brand,
mobile phones
top five and India’s 4.changing consu the company's
biggest watch rather than business is affected
mer attitude, peopl
manufacturer watches by recession and
e like to possess
5. Titan watches are economic instability.
multiple watches
exported in over 40 4. Mobile phones
countries for different
and wall clocks
6. Strong advertising occasions
are a substitute to
and brand presence and events.
watches.
7. uses celebrity
brand ambassadors 5. fashion trends
to promote itself always keep
8. Innovation is changing.
core to its strategy.
9. Visual
Merchandizing has
been Titan’s
strength .
10. International tie
-ups with Hugo
Boss and Tommy
Hilfiger.
 PESTLE ANALYSIS

 Titan PESTLE Analysis examines the various external factors like political, economic, social,
technological (PEST) which impacts its business along with legal & environmental factors. The
PESTLE Analysis highlights the different extrinsic scenarios which impact the business of the
brand.

Political factors
 Titan is a Tata product, an in-house product. The Titan umbrella is vast and
encompasses many brands under it.
 Varied products in the different segments are subject to various changing political
factors.
 The segment of watches was once dominated by the HMT, when the various
government policies were changed and paved the way to easier and better trade and
competition.
 The government policies related to increasing the custom duties on imported watches
and clocks have given the company an opportunity to establish and promote its premium
watches in this segment. This increase has been served across various products that
are imported, enhancing the company's opportunity to capture the market.
 Titan keeps close ties with the government. This gives the company leverage to directly
discuss its issues with the government representatives in case any issue arises. It
ensures that the views of the industry and that of the government, regarding various
aspects such as industrial relations, compliance, etc. are aligned with each other.
 The various trade wars around the globe have led to changes in the prices of gold and
silver, thus affecting the functioning of the company
Economic factors
 With the trade war between China and India, the costs of various raw materials are seen
to be fluctuating.
 The country has seen a fall in the prices of Gold, as a result of the drop in the price of
Indian rupee against the US dollar. This further affects the buying power of the
consumer and leads to a reduction in the sale of the goods. 
 . India has become a populous country and it is one of the fast emerging and powerful
economic in the world
 . Based on the Times of India (2010), in 2020 the India per capital income is 1900 $
 Increasing the income as well as by increasing the purchasing power in India.
 This reflects that many people have ability to purchase the luxury products.
 Since, India is an attractive market many foreign brands enter into market of India and
affect the profit margin of Titan. This creates challenge for Titan to keep up its market
share

Social factors
 India is the second largest population in the world with 1.366 billion people, which about
17% of the world population.,
 India has become a powerful country and the Indian standard of living has improved a
lot.
 Changes in the political and economic, has significant changes the Indian lifestyle.
 This led to Indians preferring to purchase the good quality and foreign brand product.
 , Titan must emphasis on quality and create strong brand image for the product.
 gold and jewelry is very important in Indian life., in India, gold is a symbol of elite status.
Hence, most of the Indian love to wear gold and jewelry watch.
 Selling gold and jewelry watch is a potential business for Titan to gain the market share.

Technology factors
 India has emerged into a global research & development hub.
 India has one million knowledge and skills workers and a pool of workers are able to
speak in English which is useful in technology area.
 TATA is reputed organization in the India which has the advanced technology. As
Titan backed up of TATA group, it has better technological practices than other
competitors and able to produce the good quality product.
 Improvement of technology in India and increase the percentage of people using
internet, India has entered to Top 10 list of higher internet user in the world.
Legal factors
 India government has opened the market to encourage foreign investment.
 The import license for watch is easy to obtain by foreign organization. This created the
challenge for Titan because many foreign brands are entering into market of India.
 Furthermore, by 1992, WTO has removal quantitative restriction and reduces the import
duty to 25% which earlier is 50% on import watches.
 This influences Titan difficult to maintain a sustainable growth because increase the
competition of foreign brand.
 There are various cases of smuggling and sale of first copies, which tarnishes the brand
name. . The various intellectual property laws and data protection laws established by
the government, further assist the company in its smooth proceedings.
 Titan is also subject to various labor laws and minimum wage laws.
 various discrimination laws protect employees against any sort of discrimination.
 There are various health and safety laws that the company needs to follow.
 The company’s policy of ethical conduct encompasses all these laws that need to be
followed.

Environmental factors
 Titan believes in creating shared value for all its stakeholders and has undertaken
various initiatives to satisfy the majority of the stakeholders.
 The company believes in improving lives, not just by creating products, but by creating a
sustainable environment for the future generation.
 The company has introduced various clean and green technology in its operations and
promotes ‘reduce, reuse, recycle’
 . Titan has assigned a character to their sustainability activities. It’s a cartoon character
called Chutki that acts as a promoter of the company's sustainability-related actions and
initiatives. They undertake various activities in the field of education, skill-building and
Indian heritage and climate change.
 80%-85% of the energy used in the manufacturing units in Hosur is from renewable
sources. Though marginal, the company reported a 0.002% decrease in its carbon
footprint for the year 2017.
 The company has also installed automatic tube cleaning systems and energy-efficient
IE3 motors as a part of its energy-saving efforts

.
 TARGET MARKET SELECTION
TITAN has divided its target market into segments in order to achieve full market coverage
  Titan has segmented the market on the basis of the following variables

1. • Demographic (age and social class)

 TARGETING DEMOGRAPHIC
• Age: 6-11, 12-19, 20-34, 35-49, 50-64, 65+
• Gender: Male, Female
• Occupation: Professionals, Retired, Students, Homemakers, Sportsmen
• Social Class: Working Class, Middle Class, Upper Middle Class, Lower Upper, Upper Uppers

PSYCHOGRAPHIC
• Lifestyle: Culture- Oriented, Sports- Oriented, Outdoor Oriented
• Personality: Gregarious, Ambitious 
 TITAN WATCHES BRAND
POSITION

Brand position creates a specific place in the market for the brand and product offerings.
The actual approach of a brand positioning in the market depends on how it communicates the
benefits and product attributes to customers
Since its introduction, Titan has been positioned as a premium brand providing high quality
products, with numerous sub-brands catering to different segments,
The brand Titan is committed to offering its consumers watches that that represent the
compass of their imagination, they are consistently introduced to exciting new collections, new
designs, new colors.
The company portfolio has over 60% of the domestic market share. The company has 487
exclusive show rooms called (World of Titan), making it one of the largest chains in its category
backed by 700 after sales service centers.
Titan has positioned itself as a fashion, accessory brand concentrating on its products as a high-
tech design, price affordable, good quality watches. Continuously coming out with new
collections making the current ones somehow dated, leading their customers to another
purchase

This figure shows that about 60 % of customers change their watches from 1yr-4yr, 20 % from
4yr-7yr, and about 10% from 7yr-10yr.