Marketing Management 1 - Project

Section 2 – Group 9
Avani Sahu – DM16210
Harleen Kaur – DM16217
Megha Shah – DM16229
Priscilla Evangeline Soundararaj – DM16234
Sweta Ramdas – DM16249

Table of Contents Introduction 2 Market Segmentation 3 Targeting 5 Positioning 6 Bibliography 10 References 10

Introduction
Titan was established in the year 1984, becoming the third Indian watch manufacturer after HMT and Allwyn. Titan is the 5th largest Watch Manufacturer Company in World.
TITAN has now become Titan Company Ltd. The company operates in five areas - Watches, Jewelry, Eyewear, Fragrances/Perfumes and Precision Engineering. Some of the well-known brands of Titan include Fastrack, Sonata, Raga, Edge, Octane, Xylys, Titan Eye+ and Tanishq, Goldplus, Zoya.
Fastrack was launched in 1998, aimed at the youth segment. Their target was boys and girls between the ages of 15 and 25. It was promoted with the slogan ‘cool watches from Titan’. Basically Fastrack was a sub-brand endorsed by Titan and was promoted as Titan Fastrack in most of the campaigns.
In 2004, Fastrack launched its range of sunglasses when a market research results showed the popularity of sunglasses, mobiles, deodorantsetc. among the urban youth. These products were looked at more as an accessory than utility by the Indian youth at the time. Sunglasses also fitted rightly as a brand extension for Fastrack watches. There was no Indian sunglasses brand at the time and it provided great opportunity to the company. According to the consumer survey conducted by us, 38% of people who purchased a fastrack watch also purchased a pair of sunglasses offered by the brand. The brand extension strategy of the brand worked in their favour.
Let’s look at how Fastrack segmented the market, targeted the urban youth and positioned it in the minds of the customer.

Market Segmentation
According