...TITAN INDUSTRIES Promoted in the mid-Eighties by the Tata Group and Tamil Nadu Industrial Development Corporation Limited (TIDCO), Titan Industries is a unique instance of how ideas can be taken from scratch and transformed into winning brands that generate value, create entire market spaces and then consistently dominate these spaces Business divisions- Time product division Jewellery divison Eyewear Precision engineering Even as the Indian economy encountered a challenging 2011-12, the Company recorded its best-ever performance. In 2011-12, the Company’s sales income grew by 36.5% to Rs. 8,970.86 crores compared with Rs. 6,570.86 crores in the previous year. Creditably, the percentage growth of our bottom lines was higher: profit before tax grew by 40% to Rs. 838.44 crores, while net profit grew by 39.4% to Rs. 600.16 crores. Even though the Indian economy grew slower in 2011-12, Titan Industries Limited reported a stronger growth on account of a deep understanding of consumer preferences, product differentiation, new product launches and professional brand management INDIAN WATCHES MARKET Only 27% of all Indians own a watch. This statistic demonstrates the significant potential for growth, particularly as Indians become more affluent and style-conscious. The Indian watches market is estimated at around 53 million units in 2011, valued at approximately Rs. 4,500 cr. The market grew by about 14% in 2011. The catalysts...
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...Marketing plan for FASTRACK WATCHES [pic] [pic][pic] Final REPORT SUBMITTED BY Group Number: 2 Sec A Alisha Mittal (PGP/15/002) Aparna Venugopal (FPM/05/02) Lakshay Manchanda (PGP/15/022) Debi Prasanna Pati (PGP/15/012) Rashmi Khatri (PGP/15/042) Shivangi Priya (PGP/15/052) Paresh Patil (PGP/15/032) Vikas Rai Arora (PGP/15/062 TABLE OF CONTENT 1. EXECUTIVE SUMMARY ……………………………………………………………4 2. BRAND DESCRIPTION …………………………………………...............................5 3. SITUATION ANALYSIS ….…...................................................................................5 A. COMPANY.….…………………………………………………………………7 B. COMPETITOR…….……………………………………………………………8 C. CONSUMER……………………………………………………………………9 D. COLLABORATOR…………………………………………………………….9 E. CONTEXT………………………………………………………………………. 4. MARKETING OBJECTIVES 5. MARKETING STRATEGIES A. SEGEMENTATION PRFOILE….…………………………………………….7 B. TARGET SEGMENT………….……………………………………………….8 C. POSITIONING………………………………………………………………...8 6. MARKETING MIX OF FASTRACK A. PRODUCT….………………………………………………………………....7 B. PRICE………….………………………………………………………………8 C. PLACE…………………………………………………………………………8 D. PROMOTION …………………………………………………………………9 7. IMPLEMENTATION ………………………………………………………………...10 8. FINANCIAL PROJECTIONS...
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...Company profile Titan Industries is the organization that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India's two most recognized and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth largest integrated watch manufacturer in the world. The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold over 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India's most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is...
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...Titan Industries Titan Industries is the organization that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India's two most recognized and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth largest integrated watch manufacturer in the world. The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch – Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India’s most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya...
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...India. It is the largest, most desirable and fastest growing jewellery brand. It pioneered the concept of branded jewellery in India. Being a division of Titan Industries Limited, a company promoted by TATA group, it is one of India’s largest conglomerates. The name was formed by combining ‘Tata’ and ‘Nishk’ (meaning necklace). Another combination is ‘Tan’ (body) and ‘Ishq’ (love). Located at Hosur, Tamil Nadu, the 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Tanishq has an exquisite range of gold, gems and diamond jewellery system prevalent in the country. It has set up production and sourcing bases with thorough research of the jewellery crafts in India. It introduced innovations like karat-meter, the only non-destructive means to check the purity of gold. It also introduced professional retailing in the un-organized jewellery bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewellery they are buying. It has successfully taken up the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers. HISTORY: The Tanishq saga began in the early 1990s, primarily fuelled by the fabled TATA entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign exchange to purchase the imported components and machines required...
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...Tanishq – The Turnaround Story "When we started out we didn't think that we could achieve this, but now being jewellers to the nation doesn't seem so distant." - Tanishq COO, Vasant Nangia, in March 2000. The Unsuccessful Launch In 1995, Titan Industries, India's leading manufacturer of watches, launched the Tanishq range of gold watches and jewellery. Till then, the Indian jewellery market was to a large extent unorganized, with a few recognized names such as Tribhovandas Bhimji Jhaveri and Mehrason's. Tanishq, an entirely new concept in the Indian market, thus had to struggle hard to be accepted by the customers. Industry watchers were extremely skeptical of Tanishq and doubts were being cast over its prospects. Tanishq began by offering jewellery in the 18-carat gold range, with designs borrowed heavily from contemporary European brands. The company justified its decision saying that it wanted to be 'different' from the traditional Indian offerings. Tanishq performed very badly in the next three years, posting a huge loss in 1997-98, proving its detractors right. Jacob Kurian, Tanishq's chief operating officer admitted, "Tanishq, as a concept, was far too ahead of its times." Even if one agreed with Kurian, it could not be denied that Tanishq did commit mistakes. Analysts decreed that the company's strategies were wary. At this point, Tanishq took various steps to correct the mistakes it had committed and very soon, posted its first ever operating profit in 1999. In...
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...|Tanishq: Positioning to capture Indian Women’s Heart | |A Case Analysis | |Submitted By: Amit Goel | | | |Word Count '' 1724 words | Industry Overview: i. India is the largest consumer of gold in the world to be followed by China and Japan. India is emerging as world's largest trading centre of this commodity with a target of US$ 16 bn. set for 2010. ii. Placed against targets to achieve 65 percent of the international market by 2010, India’s gem and jewellery industry has registered an impressive 21.33 percent growth in exports iii. India dominates the world’s cut and polished diamonds (CPD) market. In value terms, the country accounts for approximately 55 percent of global polished diamond market and nearly 9 percent of the jewellery market. According to GJEPC's provisional estimate, cut and polished diamonds registered 19.06 percent growth in exports at US$ 7.11 mn. iv. India accounts for 80-85 per cent of the world’s CPD market in volume terms, 55-60 per cent in value terms and about 90 per cent in unit terms. Other major players in the global CPD market are Belgium and Israel. v. Surat contributes 90 percent of India's total diamonds exports. vi. India's domestic branded jewellery market is estimated at US $150 bn. vii. There are 13 bullion importing banks in India. viii. India's...
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...inspiration. Finally, we would like to thank the people who have taken time off from their busy schedule to help by providing us with their valuable inputs. OBJECTIVE OF STUDY The objective to study the “A comparative study on the consumer’s preference among Branded and non branded jewellery” is to find out: 1) To compare between the consumer preference among the branded and non branded jewelery. 2) To know consumer perception towards branded jewellery. 3) Brand awareness of various brands in the jewelery market. 4) To have an idea about the parameters the consumers consider while buying jewelery SIGNIFICANCE OF THE STUDY The gems and jewellery industry occupies an important position in the Indian economy and is one of the fastest growing industries in the country. Hence the research conducted would help us to: 1) Understand the consumers preference while purchasing jewellery. 2) How much impact does a brand/ retailer has on their purchase decision. 3) Does price play an important role in guiding their purchase decision. 4) Are the various promotional strategies adopted to combat competition. DESCRIPTION PROBLEM The scope of study is limited due to the following reasons: 1) Time constraint - since the time span for the study was only one month, an in depthstudy and analysis will become a little difficult...
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...TANISHQ: A SPARKLING JOURNEY The Tanishq saga began in the early 1990’s, primarily fuelled by the fabled Tata entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign exchange to purchase the imported components and machines required to keep up with the burgeoning watch production. But with India going through a foreign exchange crisis, there was no help coming in, forcing Titan to search for a business that would earn them the required foreign currency. The first precision engineered watch, Tanishq created with 103 diamonds and pure 18 carat gold. Indian-made jewellery was already a big foreign currency earner and being strongly supported by the central government, and also happened to be a very good fit with the watch business as articles of adornment.The best known brand names in both Europe and America had watches and jewellery together, offering further proof that the two industries are intrinsically linked. It was a business with a huge wealth potential and it added a very feminine offering to Tata’s long line of products that appealed mostly to the opposite gender. It also called for an organization that inspired trust and had high order design, manufacturing, marketing and retailing skills, and Tata fit the bill on all accounts. A revolution in Gold Purity Standards across the country. Tanishq was coined from a combination of Tata/Tamil Nadu and Nishq...
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...Titan Industries Limited “Delivering value by creating Brands” May 2013 TITAN Disclaimer Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for our products, our growth and expansion, the adequacy of our allowance for credit to franchisees, dealers and distributors, technological changes, volatility in income, cash flow projections and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to:...
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...A Study on “COMPETENCY MAPPING” (TITAN INDUSTRIES LTD., HOSUR) Prepared by RICHA JAUHARI Registration No: 11010121094 Under the Guidance of Dr Debashish Sengupta Prepared by RICHA JAUHARI Registration No: 11010121094 Under the Guidance of Dr Debashish Sengupta In partial fulfillment of the Course-Industry Internship Programme (IIP) in Semester II of the Master of Business Administration (July 2011-13) Industry Internship Programme (IIP) Declaration This is to declare that the Report titled “COMPETECNY MAPPING” has been made for the partial fulfillment of the Course: Industry Internship Programme (IIP) in Semester II (July 2011-13) by me at TITAN WATCH DIVISION,HOSUR under the guidance of Dr. DEBASHISH SENGUPTA . I confirm that this Report truly represents my work undertaken as a part of my Industry Internship Programme (IIP). This work is not a replication of work done previously by any other person. I also confirm that the contents of the report and the views contained therein have been discussed and deliberated with the faculty guide. Signature of the Student : Name of the Student (in Capital Letters) : RICHA JAUHARI Registration No : 11010121094 Master of Business Administration Certificate This is to certify that Mr. / Ms. ’Richa Jauhari’ Regn. No. 11010121094 have completed the report titled...
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...global market, is Tanishq from Tata Group of Industries. Tanishq is India’s largest, most desirable and fastest growing jewellery brand in India. Tanishq today is India’s most aspiration fine jewellery brand with an exquisite range of gold jewellery studded with diamonds or colored gems and a wide range of equally spectacular jewellery in 22Kt pure gold. Exquisite platinum jewellery and designer silverware is also part of the product range. Though they faced with many difficulty in the early stages they for about six years they then came with up with good strategies The Tanishq strategy for the coming couple of years relies on two things —increasing penetration in the domestic markets and going abroad in order to diversify its revenue portfolio. To push penetration in other markets, Tanishq will use the ‘shop-in-shop’ concept that it already does in 50 stores across different West Asian market. “This reduces distribution costs. Also, for the consumer it remains a Tanishq store and helps us get a foot into the market. Their main core competency is in designing a wide range of products. They were the first to come up with the idea of karat meter, which proves the quality of the gold, to win the trust of the customer. Introduction The Tanishq saga began in the early 1990's, primarily fuelled by the fabled Tata entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and...
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...Tanishq From Wikipedia, the free encyclopedia Jump to: navigation, search This article or section reads like an advertisement. To meet Wikipedia's quality standards and comply with Wikipedia's neutral point of view policy, it may require cleanup. Tanishq Type Subsidiary of Titan Industries Ltd Industry Jewellers Founded 1994 Headquarters Bengaluru (Bangalore), Karnataka Website Tanishq official website Tanishq (Hindi: तनिष्क़) is a prominent jewellery brand of India. It pioneered the concept of branded jewellery and ornaments in India. It is a division of Titan Company Limited,[1] a company promoted by the Tata Group, one of India's largest conglomerates, in collaboration with the Tamil Nadu Industrial Development Corporation (TIDCO). The name was formed by combining the first two letters from Tata and नष्क "NISHK" (meaning gold coin or necklace in Sanskrit), although the क k has been modified into a क़ q.[2][citation needed]. Tanishq's headquarters is at Bengaluru (Bangalore) in Karnataka.[3][4] Overview[edit] Sridevi, Brand ambassador of Tanishq at photo shoot for Tanishq in April 2013 Tanishq started in 1994 and challenged the established family jeweller system prevalent in India. They have set up production and sourcing bases with thorough research of the jewellery crafts of India. Their factory located at Hosur, Tamil Nadu (India) spreads over 135,000 sq ft (12,500 m2). Tanishq was launched as a range of jewellery and jewellery watches...
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...weight and affordably priced can attract the working women Driving Reason for new product: * Purchase power of the middle class was growing. * The five million working women whose purchasing power was an important part of the India’s growth story. * Women, engaged in different professions, complete with well-designed accessory ensemble did not have a choice of fine jewelry designed for daily wear. Issues Decide on * Product mix * Positioning * Branding * Communication Strategy * Can Mia Cannibalize Tanishq’s own product for special occasions like marriage, anniversary etc (product for one time purchase) Brief Tanishq is the first and most prominent jewelry brand of the jewellery division of Titan industries ltd, a company promoted by Tata group and has origin in 1994 when it started to export the jewelry to earn the mech needed foreign exchange. This brand was specially created for the female segment. However later with the adverse developments in the world economy and growing of Indian economy, the focus is changed from exports to Indian market itself majorly. Tanishq Strategy to Build Market It was difficult to move people away from home jewelers. Traditionally consumers prefer to go to jewelers who give them confidence and faith that they will get what they pay for especially when people do not have tools or methods to know the purity of the gold ornaments. Tanishq realized this and built strategy to first break the association...
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...INDUSTRY OVERVIEW 1.1. WRIST WATCH INDUSTRY Wrist Watches form an integral part of the personality of individuals in the present era. Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item. For the watch industry, time seems in its favour what with the liberalization of the Indian market coupled with the rising purchasing power of the young and consumerist Indians. Indian watches market was for long dominated by public sector organisations like Hindustan Machine Tools Ltd. (HMT) and Allwyn (also famous for its refrigerators once upon a time!), and has now left the pioneers far behind or nowhere in market by private sector enterprises like Titan, Sonata, Ajanta and Timex along with foreign entities jostling for display space in the smallest of shops selling these products. Before the establishment of HMT as the dominant player in the Indian markets initially, the country was solely dependent on imports to meet the internal demand. However, establishment of HMT as the leading player in the wrist watch segment in the 1960’s, changed the scenario. In post liberalization India, the market stood to witness intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Fréderique Constant, Mont Blanc, Swatch, and many others. Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves...
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