Published by MBA Skool Team, Last Updated: March 17, 2017
Marketing Strategy of Titan analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Titan marketing mix, help the brand succeed in the market.
Titan marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Titan Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Titan marketing strategy can be explained as follows:
Titan is a leading watch and jewelery based products maker from India. Titan’s offerings range from watches to belts and wallets in its marketing mix product strategy. Within watches there are sub brands like Titan Raga, Edge, HTSE, Octane. Titan has time to time come up impressive collections of watches like the Raga Aurora, Titan Retro, Titan workwear, Titan Edge etc. Titan Bandhan was a special collection of watches made for couples as it came in a pair. Titan’s premium collection of 18k gold watches, Nebula, reflects sophistication and class. Titan also offers lifetime warranty with Nebula watches. The latest Titan Juxt is a collection of finely designed collection of smart watches ushering a new era of technology and connectivity. Titan also present its offerings in terms of the different functions it performs as such Analog watches, Automatic watches, Multifunction watches and smart watches. Titan also provides a wide variety in terms of the Strap material used in the watches. It has leather, brass, stainless steel, Bi metal, Polyurethane, Silicon, Rubber, strap, mesh and bangle straps.
Image: company website
Titan Price/Pricing Strategy:
Below is the pricing strategy in Titan marketing strategy:
Titan watches have diverse price range.
Titan doesn’t follow just one pricing strategy in its marketing mix. It has prices for masses which start from Rs. 350 to Rs.600. One ones which are very popular lie in the range of Rs. 600 to Rs. 900. Titan has a premium, super premium and an exclusive Connoisseur price segment. Each of their collection is differently designed and priced. Titan Sonata is one of the highest selling watches in India, despite its stylish looks and amazing features it is affordable and offers long lasting value to the consumers. The range offers affordable prices from Rs.400 to Rs.3600. Even within the collection titan has different price segment. Titan Raga has watches starting from Rs.2000 to 18,000. The edge collection has a little higher price range from Rs. 9,000 to 20,000. They also offer great and reasonable prices in pair collection. Titan also provides gift cards in the denominations off Rs. 500, 1000, 2000 and 5000.
Titan Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Also read Titan SWOT Analysis, STP & Competitors
Titan Place & Distribution Strategy:
Following is the distribution strategy in the Titan marketing mix:
Titan Company has manufacturing and assembly facilities in Tamil Nadu and Uttaranchal. Titan delivers high quality and international standard products with the help of latest Swiss and Japanese technologies. They have high end machinery such as Rapid Proto Typing machine, precious stone sorting machine and color matching machines. A dedicated technology cell is behind the masterpieces produced by titan. Titan successfully uses SAP to increase its operational efficiency.
Titan has several authorized outlets. It also showcases its products through showrooms are called “world of titan”. It boosts of 438 such showrooms across 120 cities. Not just that, Titan is backed by 740 after-sales-service centers. Titan watches ae sold through marketing subsidiaries in London, Singapore and Dubai. Titan believes in giving a world class experience to their customers with their wonderful stores. They provide customized retail solutions for their customers. One can shop through their online stores as well.
They have trusted payment gateways which ensure security and safety.
Titan Promotion & Advertising Strategy:
The promotional and advertising strategy in the Titan marketing strategy is as follows:
Titan has successfully used marketing communication to its advantage to reposition them whenever it was needed. They have marketed themselves through Print, television and digital media in their marketing mix promotion strategy. Titan has had a lot of association with celebrities such as Aamir khan, Mahendra Singh Dhoni, Vir Das and Katrina Kaif. Over the years’ Titan has come up with excellent campaigns and advertisements. They have always kept the brand above the celebrities and designed their advertisements around a story and crafted beautiful messages.
Titan Raga’s brand advertisements have always shown the image of the modern progressive Indian woman and her views on workplace, motherhood, marriage etc. The advertisements are created by Ogilvy & Mather creative agency and they have been a huge hit. To launch Titan Juxt, Titan chose Vir das as their brand ambassador to connect with the youth which were the primary target segment of the smart watch. To increase its brand awareness and visibility Titan has time to time sponsored events, tied up with FM radio to reiterate its message and sales promotion. Hence, this summarizes the Titan marketing mix.
Titan is a brand under Titan Company Limited which in turn is a joint venture between Tata group and The Tamil Nadu Industrial Development Corporation (TIDCO). Titan is the leading watch manufacturer of India and the fifth largest watch producer in the world. Starting its watch business in 1987, Titan has come a long way. It has taught people how to make a style statement with its brilliant watches. Today it has over 60% of the market share in India and a strong distribution system around the world. It has expanded its horizons by venturing into other accessories market like wallets and belts. Titan is present in over 30 countries. Titan’s portfolio caters to men, women and children. All titan products go through strict quality check. It constantly tries to innovate and provide its customers with latest technology.
Titan provides exceptional retail shopping experience and after sale services. It provides free shipping within India and seven-day hassle free return of the products.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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