Titan-Marketing strategies
Titan, a Tata group company entered the watch market in 1987. Since then it has developed into one of the most recognized brands in India. In fact, in a recent survey conducted by A&M, Titan emerged as the top brand in the consumer durable segment.HMT, the undisputed leader of the wristwatch market before Titan's entry completely neglected the quartz watch segment. Titan successfully filled this gap. Its wide range of designs, high profile advertising and distribution network helped it gain a substantial market share in a short span of time.The Titan brand was essentially positioned as a premium brand. As a result the lower segment was left uncovered. After it entered into a joint venture with Timex, it made inroads into this segment too. Internationally, Timex is seen as a mid-priced quality watchmaker. Its association with Titan in India led to wrong segment targeting. Here, the middle and higher income groups were buying its watches. In 1998, this association came to an end erasing Titan's presence in the lower segment. Since then, it has launched the Sonata range of watches that is in direct competition with the Timex range.
These watches are priced between Rs 960 to Rs 3000. These are perhaps HMT's most direct competitors, offering more or less similar attributes to those offered by HMT's watches. These watches are in the price range of Rs. BIBLIOGRAPHYBOOKS:Ø Dholakia, Nikhilesh; Khurana, Rakesh; Bhandri, Labdhi; Jain, A.
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