Introduction

Time is Money. With the advent of new technology, a revolutionary change is occurred in the watch market of India. Previously only a few brands were ruling the market. However with the passage of time and with the opening of free trade, there is no dearth of various national and international brands in the market. A few years ago, people used to buy watch, only to check time. However, now they buy not only to check time but also for fashion.

TITAN OF INDIA HISTORY

Titan watch division was started in 1987. It is a joint venture between one of India's most respected business organizations, the Tata Group, and the Tamil Nadu Industrial Development Corporation (TIDCO). It is the worlds fifth largest and Indias leading manufacturer of watches. 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 setup a strong distribution network across India. Titan Industries has claimed to have manufactured the world's slimmest wrist watch - Titan Edge. Produced indigenously after four years of research and development, the Titan Edge has a total slimness of just 3.5 mm and a wafer thin movement of 1.15 mm.

CURRENT BEHAVIOR
Titan has different ranges of watches from different tastes and styles. After carrying out an in-depth market study, Titan identified three distinct market segments for its watches. These segments are determined based on benefit and income level. High Income Segment: This is for high income/ elite consumers who buy watch as a fashion accessory not as a mere instrument showing time. They are also willing to buy a watch on impulse. The price tag does not matter to them. Titan offered Aurum and Royale in the gold / jewellery watch range. The prices are between Rs. 20,000 and Rs. 1 lakh. Medium Income Segment: These consumers prefer some fashion in their watches but to them price does matter. While they have the capacity to pay the price required for a good watch, they will not purchase a watch without comparing various offers in the market. For this segment, Titan offered the Exacta range in stainless steel, aimed at withstanding the rigors of daily life. The price range is Rs. 500-700. Titan also offered the RAGA range for women in this segment.

Low Income Segment: The third segment consists of the lower-income consumers who see a watch mainly as a time-keeping device and buy mainly on the basis of price. Titan first offered the TIMEX watches and later, when the arrangement with Timex was terminated, it offered the SONATA range. The price range was Rs. 350500.

Titan collections and customer and price based segmentation:

FAST TRACK: Category aimed at Youth. A collection of watches will contemporary styles that are young and distinctive. Price: Rs.550-4000. EXACTA: Category aimed at Lower Middle Class (Office Wear). A perfect combination of dateless styling and design simplicity. Price: Rs.595-1,140 SPECTRA: Category aimed at: Common Class. A truly unique collection of watches that combines the sturdiness of steel with the richness of gold. Price: Rs.650-1830 ROYALE: Category aimed at Upper Middle Class. A stunning collection of alluring goldplated cases matched with exquisite gold-plated straps. Price: Rs.960-2,830. RAGA: Category aimed at Upper Class. Exclusive watches for women. It is elegant, delicate and feminine with each piece being truly. Unique. Price: Rs.1,420-4,000. BANDHAN: Category aimed at: Couples. Watches for him and her. Price: Rs.1,675- 8,085. REGALIA: Category aimed at: Upper Middle Class Upper Class. Magic in gold and unique futuristic material. Price: Rs.1725-7770 EDGE: Category aimed at business class. The Titan EDGE is the Slimmest Watch in the Universe. Price: Rs. 4,500-5,200 Nebula: Category aimed at: Upper Class a range of watches crafted from solid gold embellished with precious stones. Price: 10,000-45,000 Eye wear: Titan Eye+ is currently on a pilot mode with 5stores in 2 cities and has sun glasses under Fastrack brandand prescription eyewear consisting of Frames, Lenses,Sunglasses, Accessories and Contact Lenses of in-housebrands and other premium brands

MARKETING ENVIRONMENT
Titan has the following marketing environment. Political: Tata group being is one of the respected groups in India, Titan has the government support. Internal: Being owned by Tata group, it has a good Tata culture. They take care their employees.

External: Titan is the market leader in the watch market of India. Customer: Titan invests a good amount of money for their research and new innovation. As such they keep on changing their model as per the taste and preference of customers.

The SWOT analysis in form of Strength, Weakness, Opportunity and Threat are given below.
Strength
Leading Manufacturer: Titan Industries is the world's fifth largest and India's leading manufacturer of watches. Customer Base: The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million. Market Share: The Titan portfolio has over 60% of the domestic market share in the organize watch market. The company has 247 exclusive showrooms christened World of Titan', making it amongst the largest chains in its category backed by 700 after-sales-service canters. World Class Design Studio: The Company has a world-class design studio that constantly invents new trends in wrist watches. Wide Choice in Style: Titan decided to inundate consumers with a wide choice in style, function sand price . The initial range was 350 models. Retailer: Titan brought in the concept of retailing into the watch market, established a network of fine showrooms, which would later become the world's largest network of exclusive watch stores. Advertising: Titan saw this as a vital investment. Right from beginning Titan invested significantly in advertising and in that process created a set of memorable and effective properties over the years. Brand Ambassadors: Titan engaged major celebrities like Amir Khan , Kapil Dev as Brand ambassadors for its Titan range.

Weakness
Waterproof: Waterproof watches are not in the portfolio of the Titan. Raw Material: Nonavailability of cheaper raw materials from domestic sources. Market Segmentation: Titan has not focused in the lower segment of India in rural area which is contributing about 40% of the share of Indian volume.

Opportunities
Scope in Jewellery Market: Importance of jewellery to Indian consumers. Extend the Brand: Titan has a scope to capture in feminine accessories. Exchange Business: Titan may enter into exchange market.

Threats

Competitor: Citizen, Swatch, Rolex, Tag Heuer etc are the biggest threats. Raw Material: Raw material cost is said to be high because of high import duties. Fashion Change: Changing trends in fashion

ADVERTISEMENT
Advertisement gives an indication how the product is positioned. The result of positioning is the successful creation of a customer focused value proposition, a cogent reason why the target market should buy the product. Observing the advertisement it can be mentioned that Titan is trying to capture middle and higher segment of the market using actor Amir Khan as brand ambassador.

POSITIONING OF THE BRAND

Titan has placed its position as emotional positioning based on role model. On the matrix it will be credence attributes as it has already created a value proposition in the mind of customer.

Bibliography Official website of Titan, http://www.titanworld.com

SUMMARY OF THE PROJECT The relevant data was collected from both primary sources and secondary sources. Primary Data Collection: The data was collected in the form of Questionnaire with

a sample size of 30. The questionnaire consisted of both open ended and closed ended questions. The schedule covered parameters like reasons for consumers brand preference, advertisements and new designs and so on. Secondary Data Collection: We made a study of the brand positioning of Titan watches through secondary sources such as internet, insurance magazines, and journals and so on. Then we conducted a consumer satisfaction survey on Titan Watches.