A SUMMER PROJECT REPORT ON

CHANNEL DISTRIBUTION OF TITAN WATCHES IN WESTERN UTTAR PARDESH

SUBMITTED TO:Resp. Rashmi mam Faculty IPM, Meerut

SUBMITTED BY:Shavez ansari P.G.D.M(2010-12) IPM,Meerut

External guide:Mr Sachin Kumar Singh Distributor (western U.P) cum ASM Titan watches

Institute of Productivity & Management

PREFACE
The PGDM program is well structured and integrated course of business studies. The main objective of practical training at PGDM level is to develop skill in student by supplement to the theoretical study of business management in general. Industrial training helps to gain real life knowledge about the industrial environment and business practices. The PGDM program provides student with a fundamental knowledge of business and organizational functions and activities, as well as an exposure to strategic thinking of management. In every professional course, training is an important factor. Professors give us theoretical knowledge of various subjects in the college but we are practically exposed of such subjects when we get the training in the organization. It is only the training through which I come to know that what an industry is and how it works. I can learn about various departmental operations being performed in the industry, which would, in return, help me in the future when I will enter the practical field. Training is an integral part of PGDM and each and every student has to undergo the training for 2 months in a company and then prepare a project report on the same after the completion of training. During this whole training I got a lot of experience and came to know about the management practices in real that how it differs from those of theoretical knowledge and the practically in the real life. In todays globalize world, where cutthroat competition is prevailing in the market, theoretical knowledge is not sufficient. Beside this one need to have practical knowledge, which would help an individual in his/her carrier activities and it is true that Experience is best teacher.

ACKNOWLEDGEMENT
We must admit that we cannot take the credit for all the ideas expressed in this project. We have brought together the marketing research tools and techniques that have been developed and used over the years. The success of this project largely depends on the intensity, drive and competence of many people, who contributed to make this project a reality.

We take this opportunity to express our heart full gratitude to all, who made our project worth while learning experience. In this endeavor of success different pillars play an important role and pillar of successful venture is our project Mr. SACHIN KUMAR SINGH, Senior sales officer- TITAN WATCHES, who have been through all times with encouragement, suggestions and motivation.

There are times in such projects when the clock beats our time and we ran out of energy. Our parents and our friends made us endure such times with their unfailing humor and warm wishes.

However, we accept the sole responsibility for any possible error of omission and would be extremely grateful to the readers of this project report if they bring such mistakes to our notice.

SHAVEZ ANSARI Place: MEERUT

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Duration: 45 days

(PGDM III SEMESTER)

EXECUTIVE SUMMARY

Chapter 1 includes the introduction of the company wherein we told about the Objectives of the study and profile of the TITAN watches India Ltd. Chapter 2 includes the Research Methodology wherein we have discussed the Research Design and Various sources of the Data Collection. Chapter 3 includes the Data analysis and Findings wherein we have analyzed the data collected from the Questionnaire. Chapter 4 includes the conclusion, suggestions and limitations based on the research analysis done by us.

TABLE OF CONTENT

1. CHAPTER-1 Introduction of company.5-9 Industry overview.10-12 Business of Titan Watch13-20 Objective of study.21 2. CHAPTER-2 Research methodology.22-23 Research design and Data collection method.24-25 3. CHAPTER-3 Analysis26-55 4. CHAPTER-4 Findings56 Conclusion 57 Limitations.58 Recommendations..59 Bibliography.60

CHAPTER-1
COMPANY PROFILETAN INDUSTRIES
LIMITED HOLD Titan Industries Limited [TIL] Titan Industries Limited is one of the jewels of Tata Group that commenced its business in 1986-87 with company operating in mainly 4 businesses: Watches, Eyewear, Jewellery and Precision Engineering. It is the worlds 5th largest integrated manufacturer brand for watches Titan Industries operating in retail segment of watches, jewellery and eyewear continues to remain the market leader in the mass market watches segment. The eyewear segment is likely to breakeven by FY12E as the demand has been picking up. As approximately 95% of the company stores operate in the franchisee model. Titan has witnessed negligible store closures during the economic slowdown. The retail store expansion plans also remained least impacted as increasing stores in franchisee model requires minimum investment from the company The improvement in consumer sentiments and launch of new collections across its existing mass and premium segment will drive the future revenue growth and margin expansion. BUSINESS PROFILE Titan Industries Limited is engaged in the business of manufacturing of watches. The Companys primary segments consist of Watch, Jewellery and Others. Others include eye wear, precision engineering, machine building and clocks. It has its manufacturing facilities at Hosur, Dehradun, Baddi and Roorkee. It manufactures watches under the brand names Titan, Sonata, Fastrack and Xylys ,Fastrack, Titan RAGA and Titan EYE-PLUS . Its watches are sold in India and 26 countries around the world. The Company has three jewellery stores Zoya, Tanishq & Gold Plus. The Company's Precision Engineering Division serves automotive, aerospace, telecom and engineering industries with precision engineered components, subassemblies, moulds/tools, as well as by providing end-to-end technology solutions for automation and testing. In July 2008, the Company announced the launch of its third line of consumer business Optical Eye-wear under the name Titan Eye+.

Segmental Information Watches: India is an under-penetrated market for watches only 27 % of Indians own a watch. The total market size in terms of value is around Rs 31000 mn and in terms of Volume it is approximately 44mn units. Titan has 40% value share and 22% volume share. The company has its presence across various segments i.e. Low End, Mass Market, Premium and Luxury. Currently it has 302 outlets and a plan to increase it to 393 outlets by FY11E.This segment almost contributes 22% of the revenue. It plans to enter South African market in this fiscal. Jewellery: The size of the market is ~USD 17bn with urban market forms around 38% of the base. The company operates in 3 different stores namely Tanishq, Zoya & Gold Plus. This segment contributes almost 75% of the total revenues. Currently it has 146 outlets and plans to increase it to 161 outlets by FY11E. The key risk remains the volatility in gold prices. Tanishq enjoys a market share of 40% in the branded jewellery segment. There has been a rapid growth of 35% CAGR over the past three years Others: This includes Eyewear and Precision Engineering Business. Both are recently launched business and contribute 3.2 percent of the revenue. The company has 82 Titan Eye+ outlets which has achieved a turnover of Rs 96cr in FY10. The eyewear business is mainly targeted at the youth segment. In case of Precision engineering business the rationale is to leverage engineering capabilities and India is growing as a manufacturing base for precision products. According to Titan the global market size for this segment is around Rs 1,350bn. The company had a turnover of Rs 550mn in FY10 but made a loss of Rs 16.5 cr. The company in FY11E plans to breakeven with sales turnover of Rs 800mn. BUSINESS PERFORMANCE:Strong Business Prospects . Titan Industries reported a stellar performance for 4QFY2010. The company reported a top-line growth of 48.9% Y-o-Y to Rs1,311cr backed by a robust performance of the Jewellery segment, which grew by 63.4%. The operating margins improved by 140bp to 7.7% in 4QFY2010, while the EBITDA and PAT witnessed a growth of 81% and 87.8%, respectively.

Some Recent Developments Titan has entered the Rs10,000 plus watch segment and has launched a new collection Obaku, the benefits of which will be reflected in the coming quarters. In 4QFY10, it added stores in both World of Titan and Fastrack formats. Consumer sentiment remains strong and we expect the watch business to maintain mid-teen sales growth in the coming years. In jewellery Tanishq ran a successful promotion, Queen of Diamonds which contributed to higher sales. The company has a unique and diversified business model and hence, it is not comparable to any other Company.

BOARD OF DIRECTORS:Board Of Directors fr dDirector Name Current PositionUe ue9e9jj Bhaskar Bhat Managing Director

d Description Bhaskar Bhat assumed the position of Managing Director of Titan Industries on 1st April 2002.He is a B.Tech (Mechanical Engineering) degree holder of IIT - Madras, and a post graduate diploma holder in Management from IIM - Ahmedabad. Most of Bhaskars working experience has been in Sales & Marketing. Having started his career as a management trainee with Godrej & Boyce Manufacturing Co. in 1983 he moved on after 5 years, and joined the Tata Watch Project (initiated at Tata Press Ltd.). Since 1983, Bhaskar has been associated with the Tata Watch Project later to become Titan Watches Ltd., and now Titan Industries Ltd. At Titan, Bhaskar dealt with Sales & Marketing, HR, International Business and various general managerial assignments Mr. Rajeev Ranjan has been appointed
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Rajeev Ranjan

Chairman

Tirumalai Balaji

Kumar Non Executive Independent Director Non Executive Independent Director

Vinita Bali

Ishaat Hussain

Non Executive Independent Director

N.N Tata

Non Executive Independent Director Non Executive

Nihal V.D Kaviratne

as Chairman of the Board of Titan Industries Ltd. He has been Secretary to the Government of Tamil Nadu, Industries Department and a nominee of Tamil Nadu Industrial Development Corporation Ltd. Mr. Tirumalai Kumar Balaji serves as Non-Executive Independent Director of Titan Industries Limited and is an Industrialist with rich business experience. Ms. Vinita Bali is a Non-Executive Independent Director and presently Chief Executive Officer of Britannia Industries Ltd. She received her Bachelors degree in Economics from Delhi University and MBA at the Jamnalal Bajaj Institute of Management Studies. She pursued postgraduate studies in Business and Economics at Michigan State University. Ms. Vinita Bali is a highly qualified manager with national and international experience and had held several positions in Cadbury India and Coca-Cola. She was responsible for worldwide strategy for Coke and was one of the key players in helping the soft drink giant double its growth rate. Mr. Ishaat Hussain has been appointed as Non-Independent Non-Executive Director of Titan Industries Ltd. He is a Chartered Accountant and is a financial expert. He has rich and varied experience in Finance, Strategy & General Management. N. N. Tata serves as Non-Independent Non-Executive Director of Titan Industries Ltd. He has wide knowledge and experience in sales and marketing and possesses the expertise in retailing business Mr. Nihal Kaviratne, CBE, is a NonExecutive Independent Director whose
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Independent Director

C.G Krishnadas Nair

Non Executive Independent Director Director

Sunil Paliwal

R. Poornalingam

Non Executive Independent Director

Hema Ravichandar

Non Executive Independent Director

career with the Unilever Group spans 40 years during which he held various senior level management positions across Asia, Europe and Latin America. Mr. Kaviratne was cited in the Queens 2004 New Year Honour List in the UK and was awarded the CBE (Commander of the Order of the British Empire) for services to UK business interest and sustainable development in Indonesia Dr. C.G. Krishnadas Nair serves as Non-Executive Independent Director of Titan Industries Limited and has Rich experience covering academia, R&D and industry Retired as Chairman & CEO of Hindustan Aeronautical Limited Mr. Sunil Paliwal has been appointed as Director of Titan Industries Ltd. He has been Managing Director, Tamil Nadu, Industrial Development Corporation Ltd, and nominee of TIDCO Mr. R. Poornalingam was appointed as an Non-Executive Independent Director of the Titan Industries Ltd by the Board of Directors with effect from March 30, 2009. Mr. R. Poornalingam is a retired IAS officer and has served extensively in various capacities in State and Central Government. Mrs. Hema Ravichandar was appointed as a Non-Executive Independent Director of Titan Industries Ltd by the Board of Directors with effect from March 30, 2009. Mrs. Hema Ravichandar is a practicing expert in the field of Human Resource Development and has served as Senior Vice President & Group Head - Human Resources Development of Infosys Technologies Ltd., till July 2005

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Industry Overview
The Indian retail market is large, but highly fragmented with very few large retailers. Modernization of the Indian retail sector will reflect in rapid growth in sales from supermarkets, departmental stores, hypermarkets and specialty stores. Modernization of the Indian retail sector is reflected in rapid growth in sales from supermarkets, departmental stores, hypermarkets and specialty stores. The Indian retail sector is at an inflexion point, with many enabling conditions coming into existence e.g. favorable demographics, rising consumer incomes, real estate developments especially with emergence of new shopping malls, availability of better sourcing options both from within India and overseas, changing lifestyle that brings the Indian consumer closer to the consumers in more developed markets, easy availability/ heightened usage of credit cards and affinity for branded products. All these changes are driving growth of the organized retail sector. This growth is being witnessed across all the segments such as food and grocery, textiles and apparel, consumer durables, music and books and specialty products, watches, jewellery, and sunglasses come under the retail specialty segment. According to The Marketing Whitebook 2005, the size of retail in India is $180 billion of which only 2% is organized retail. In the USA the share of organized retail is as high as 85%. Within the organized retail sector, clothing and textile dominate with a 36% share followed by watches & jewellery, which has a 17% market share. Watch Industry Globalization, greater literacy and a spurt in growth of the middle and higher middle class has turned India into a fast growing market for watches as well as clocks. Over the past few decades, there has been a change in the composition of the industry. From humble beginning in the 1950s, when the only choice was HMT (Hindustan Machine Tools), the scene has changed today to one where the market is flooded with models from both India and abroad, all vying for the customers attention. International brands have elevated the image and status of watches in modern life and today they are considered an essential fashion accessory as against being a mere utility product as in the past. The Indian watch market is currently pegged at approximately 350 lakh watches. The industry can be classified into 3 segments:11

 Mass Market or the Economy market (Rs. 100 Rs. 1000) Mid Market or Mid Premium (Rs. 1000 Rs. 5000) Premium (Rs 5000 and above) The volumes are predominantly concentrated in the mass market or the economy segment due to the presence of a large number of players from the unorganized sector. As a result of reduction in peak custom duties, the industry has witnessed entry of many international brands in to the country. Most of the international brands have entered in the premium segment. Reduction in custom duty has increased the competition between Indian watch manufacturers and international watch brands. The percentage of adults who own watches is much lower in rural areas as compared to urban areas. Most of the buyers, especially in rural areas, are single watch owners. Gems and Jewellery Industry:The Indian gems and jewellery industry is an important segment of the Indian economy. The industry is categorized into: Gemstones - diamonds, colored stones, precious, semi-precious, synthetic Jewellery - plain gold, studded, silver, costume Pearls The two major segments in India are gold and diamond jewellery. Gold jewellery accounts for around 80% of the Indian jewellery market, with the balance comprising of fabricated studded jewellery-diamonds and gemstones. Purchase of jewellery is an important part of weddings in India. It is estimated that more jewellery is bought for weddings than for all other reasons. The established tradition of buying jewellery on marriages reduces the industrys susceptibility to recession. Traditionally, the jewellery industry has been a fragmented one. Independent non branded jewellers had a reasonable standing in a local area and enjoyed a loyal and fixed clientele. The buyer had implicit faith in his jeweller but widespread cheating of several players had begun to shake this faith. The inadequacy of statutory controls has enabled many jewellers to get away with providing jewellery of low purity (under-karatage). In 2000 GOI introduced voluntary hallmarking of gold jewellery through the Bureau of Indian Standards (BIS). However hallmarking has not been fully utilized due to it being a voluntary process and there being a limited number of hallmarking centres in the country. Branded jewellery is a fairly recent trend. Tanishq, the jewellery division of Titan, was set up in 1994 to bring credibility and professionalism to the jewellery industry. Today, several other branded jewellers like Nakshaktra, Gili etc. have established their presence in the market. Some local players and sight holders engaged in the cutting and polishing of diamonds are also making a foray into the retail market.

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Business of Titan Watches

I. Overview

Titan was incorporated in 1984 as a joint venture between the TATA group and Tamil Nadu Industrial Development Corporation (TIDCO), a Government of Tamil Nadu undertaking. It has been engaged in the manufacture and marketing of quartz watches since 1987 and are now considered to be Indias leading watch manufacturer. Its business activities cover watches, jewellery, precision engineering, accessories and licensed products and international marketing operations and have a wide range of products, which are classified on the basis of design, function and price points. In 1987 Titan began manufacturing and retailing of watches, under the brand name Titan and thereafter under the brand names Sonata, Fastrack and Nebula. It recently entered the segment of premium fashion watches by acquiring a license for global brands such as Tommy Hilfiger. In 1994 diversified into manufacturing and marketing precious jewellery under the brand name Tanishq. Tanishq started in 1994 by manufacturing and marketing 18 Karat studded jewellery and in 1997 also began manufacturing and marketing 22 karat plain gold jewellery. It is also supplying certain precision engineering components and automation equipment to industrial buyers particularly in the automobile and aerospace industries. In 2002 titan diversified into fashion eyewear by launching Fastrack I-Gear sunglasses. In 2000, set up strategic business divisions for the watch and jewellery businesses. These divisions are independent and are headed by a Chief Operating Officer (COO). In 2004, constituted the International Business Division for handling our businesses in overseas markets, the division is also headed by a COO. For their business processes, they employ around 3,134 personnel. Main manufacturing and assembly facilities for Titan watches, jewellery and precision engineering businesses are located at Hosur in Tamil Nadu. They also have a watch assembly unit at Dehradun in Uttaranchal, Baddi in Himachal Pradesh and a unit owned by our subsidiary, TTPL in Goa which produces electronic circuitry for quartz watches. Competitive Strengths Strong Brands Titans continued efforts on brand building have resulted in the development of a range of strong brands like Titan, Tanishq, Sonata and Fastrack, which enables us to command a premium for our products as against our competitors. It believes that our brands command respect and credibility and offer competitive advantages in existing markets and while entering new
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markets. It is able to leverage its brands to launch new products and extend into new product categories. Company believes that in the process of building these brands it have gained valuable insight into consumer behavior, which we leverage and utilize to drive business in todays competitive markets. Their brands have also won various awards and recognitions in both national and international forums. They also benefit from our association with the TATA brand name that stands for quality, trust and value, especially with respect to the marketing efforts of Titan, Sonata and Tanishq. Strong Retailing, Distribution and Supply Network Titan gained immense experience by establishing and managing a vast number of Titan and Tanishq outlets. They sell their watches through over 11,393 outlets in over 2,546 towns in India. There are currently over 179 World of Titan showrooms in over 105 towns and over 130 Time Zones in over 81 towns. It sell Tanishq jewellery through over 81 stores spread across over 61 towns in India, presence in a wide range of retailing outlets from exclusive showrooms to department stores has ensured that it has a wide network to reach our customers and has a strong distribution and logistics network and have undertaken various initiatives in further improving the efficiencies of our supply chain, which believes is critical to our operations. These aim at balancing multiple objectives, including keeping inventories and operating costs under control. It has deployed international IT systems for its retail operations and complex supply chain across our business processes, including enterprise resource planning software from SAP and Oracle. It also manage a wide after sales service network for providing repair and maintenance services to its watch customers. Design Experience Product innovation is a primary driver for our businesses and design is a critical success factor especially when appealing to the image conscious consumer. We have a large and experienced in house design team. Majority of our watches are designed in house while we rely on both our in house team and freelance designers for our jewellery business. Our in house design strength is a key differentiator which is constantly upgraded both through talent enhancement and technology acquisition. Our in house design team received 7 accreditations in different categories at the NID-Business World Awards -2004. Tanishq designed the Miss India Crown and affiliated with a designer of international repute to create a collection of jewellery which was presented at the Milan fashion week in 2004.

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Leading Market Position Titan has a significant share of the organized watch market in India and have a large customer base. Tanishq is the best known jewellery brand in India. Extensive marketing exercises conducted on a regular basis and our international experience in the past 13 years has helped us to tackle international competitors who have entered Indian markets. TITAN AND SONATA SBUs of Titan Industries Limited Tiatn commenced production of watches in 1987 by collaborating with France Ebauches, a leading international manufacturer of watches and components. By 1989 we had indigenized the manufacture of movement components and had set up facilities to manufacture watches in India. We are currently the market leaders in the organized watch market in India. Products & Customers Titans watches are categorized into the following brands, based on sales and price point of each brand. Titan The Titan brand is a mid market player and targets a wide variety of customer segments. Majority of our customers for this category are middle and upper class Indians who are mostly multiple watch owners and are brand conscious. They are willing to pay a price for differentiations in style, technology and image. We believe that Titan appeals to customers with traditional tastes as well as those with a preference for modern and contemporary designs. Consequently the product offering is varied and across different price points, design, material types and finish. Under the Titan brand name we have various collections including Raga, Regalia, Gold and Steel, Edge and Bandhan. The current price range for these brands ranges from Rs. 1,000 to Rs. 8,000. We also market watches under the Nebula brand targeted at the premium segment. We recently launched brand Xylys in India, a watch in the premium category range (above Rs. 10,000) which is assembled in Switzerland. Sonata Sonata was launched as a sub-brand of Titan in May 1997 to increase market share by introducing product offerings in the lower price segment.
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Sonata was introduced as a range of gold plated watches for men and women at affordable prices. Sonata was spun off as the second brand from the Company in November 1998 and began operating with products, styling and pricing independent of Titan. The product collection now includes all steel watches from the Exacta range and also a new plastic collection, which is aimed at a relatively younger audience. Sonata has been positioned as a watch that offers greater value to the budget conscious customer. The brand is priced competitively, with the current price band ranging between Rs. 395 and Rs. 1,995. Sonata has made significant inroads in competing with the unorganized market players and upgrading consumers from non branded watches to branded watches. The role of Sonata is clearly defined as tapping the potential offered by non watch owners and the owners of non branded watches in India who are resident mostly in semi-urban or rural India. The brand has been able to establish a strong presence and is sold through over 10,237 outlets across over 2,444 towns. Retailing There are currently over 179 World of Titan showrooms in over 105 towns and over 130 Time Zones in over 81 towns. To create maximum reach and penetrate the market we adopt the following distribution network: Our retailing is done through a multi-tiered distribution structure, which includes the following retail outlets: World of Titan Showrooms To meet consumer needs and showcase our brands, we set up the World of Titan Showrooms, which are exclusive Titan outlets that offer the customer the full range of Titan products and to reinforce our image of being innovative and world class. World of Titan Showrooms are both Company managed and franchised. We currently have over 179 World of Titan showrooms in over 105 towns. The Company managed showrooms serve as flagship retailing stores designed to provide the best that the World of Titan has to offer to customers. They also influence the operations of other franchisees and bring about uniformity across the retail chain. For the franchised World of Titan Showrooms, we have entered into agreements with entrepreneurs to create an outlet to exclusively retail Titan watches and eye gear. We provide all necessary support to achieve sales targets, which are mutually agreed upon and are based on estimated potential. The franchised outlets are expected to maintain the same standards as the Company owned showrooms and adhere to guidelines issued by the Company. Our franchisee model enables us to establish our outlets at desired locations where we are unable to obtain real estate on agreeable
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terms. The franchisee network also helps us save on man power costs, reduce overheads and setting up time. We are also able to benefit from the local knowledge of the market that our franchisees have. To ensure loyalty of our customers we have launched our customer relationship management programme, the Titan Signet Programme, in our World of Titan Showrooms which aims at creating, retaining and maximizing the relationship our loyal customers have through rewards and recognitions. It recognizes and rewards customers loyalty to the brand and to the World of Titan Showrooms. Time Zone The Titan Shop programme began in 1991, when the brand equity of Titan and the reach of our showrooms were limited. However, with the spread of the showrooms, we decided to convert the Titan shops into Time Zone, a chain of retail outlets. This was our collaborative effort with the top watch retailers of the country to create a chain of watch stores that offer the customer with a host of benefits including reliability of products, wide choice of brands, quality merchandising, reliable after sales service, convenience of location and quality of salesmanship. Currently we have over 130 Time Zones in over 81 towns. Redistribution Stockist The redistribution stockiest is a channel of distribution that arose from our inability to directly serve the smaller dealers in smaller towns. In 1991, the redistribution stockiest became a separate and important channel of distribution for our watches. The use of redistribution stockiest have reduced the cost of distribution, increased market reach and ensured ability to focus on certain select brands. It also enables small dealers who cannot operate on a cash and carry basis to obtain credit from the redistribution stockiest. Traditional Outlets These outlets are characterized by owners who are personally involved in the business and have several years of experience in the watch trade. The traditional outlets normally stock all brands including ours and those from the unrecognized sector. Traditional outlets often have their own niche markets, attract a set of loyal customers and offer personalized services. It provides us with the reach and penetration required and provides an edge over distribution in very small/rural areas of towns which typically have a population of less than 50,000 people.

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Non Traditional Outlets

Non Traditional Outlets are those outlets that sell watches among other product lines. Non Traditional Outlets build brand awareness amongst potential customers. Today, there are hundreds of Non Traditional Outlets, including department stores which contribute a large percentage of our sales revenue. They are usually located at convenient locations and are situated away from main watch markets. Institutions An institutional purchase is any single order that equals or exceeds 10 watches and Rs. 10,000 in value. The size of the corporate/institutional gifting market runs into several thousand lakhs. Corporate entities purchase watches as gifts for their employees to reward productivity bonus, performance awards, long service and jubilee celebrations. They also gift watches to their customers and dealers during the festive season. We offer special services such as dial printing, engraving, screen printing, special dials and other special features for such orders from institutions. We also supply watches to the armed forces for their canteen stores department across the country at pre-negotiated prices.

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Most Recent Brand of Titan: Zoop For Kids

Titan has re-entered the kids' watches category with a new brand Zoop. Titan has been launching a series of watch brands in recent years. According to a newspaper report, the company is transforming itself into a house of brands with a number of brands catering to various segments. The company had recently launched brands like Xylus, Obaku, Zoop etc all endorsed by the corporate brand Titan. Zoop is a brand targeting the kids aged 5-12. Through Zoop, Titan is filling a gap in their brand portfolio. Kid's watch segment although a high potential market is dominated by unorganized players. In 1998-99, Titan tried to tap the market with a brand Dash. But the brand failed to catch the fancy of the market at that point of time. Analysts says that Dash was too early for the Indian consumers. During that time, parents were not that interested in spending on kid's accessories like Watches. Now the company feels that the market is ripe for a brand like Zoop. Zoop is being positioned as a cool, must-have accessory for kids. The brand is running a launch campaign in most of the channels. Zoop is endorsed by brand Titan. The brand has the tagline - Be Cool ; which will be well liked by the target customers.

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While researching on the brand, I found a couple of articles which mentioned that Zoop's positioning itself as "Be a Star ". The brand wanted to talk directly to the kid and acknowledges the star in him. But from the launch ad, it seems that the brand is focusing on coolness quotient rather than the stardom". Hence the brand has focused on bringing in new funky designs in its range. Zoop will be definitely a brand to watch out for . The brand has the equity of Titan and the pricing is exceptionally good. Zoop is priced between Rs 350Rs 900. And it makes a perfect Gift for kids. Zoop faces competition from the host of unorganized players in the market along with cheap Chinese imports. For Zoop, budget competition will also be something to be concerned about. Budget competition is the competition for the money . Budget competition for Zoop will be those kid's products across various categories that falls in the price band of Rs 350- Rs 1000. That include toys, clothes, video games, etc. If you look at the launch campaign of Zoop , the brand subtly addresses that competition by pointing at the ' need ' for a watch. Although there are many positive things going for the brand, it is not easy to catch the attention of this segment. The kids get bored with products/brands easily. Functionality may not be on the priority list of this segment of customers. It may not be realistic for Titan to assume that kids will pester their parents to buy more than one watch to quench the style thirst of kids. So the task is to get more and more kids to purchase the brand and be happy about it. So constant campaign innovation will be the key to brand success. Zoop has rightly positioned itself on the style factor and I am sure many young customers will fall for it. Zoop watches are designed keeping the little consumers in mind and taking into account their point of view on what they want in a watch as opposed to an adults view on kids watches. The creative and fun designs of the Zoop watches are the outcome of an extensive consumer research study that revealed the deep-rooted need in todays children to stand out and
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command attention. Each watch from Zoop caters to this desire and fits well with the brand proposition of Be a star. The girls watches are a plethora of candy colors and summer flowers making it a must have style accessory for the young lady. Whereas, the watches for boys are inspired by the nautical colors and sail elements making it an exciting watch. It is also a new facet of brand Titans brand philosophy of Be More. Zoop from Titan is created for the new generation kids who go beyond the obvious. It reflects their style, attitude and unique personal identities. Features like dual time, countdown timer, 50-year calendar, compass, stopwatch alarm, and EL Backlight are present in the digital collection to attract gizmo loving kids. The analog collection portrays floral motifs, disc second hand, luminescent dials and other interesting features. The packaging of these watches is also very attractive and specially designed to appeal to kids. To capture a larger audience, Zoop will soon be airing its TVC, which is the first TVC in the kids watch segment. The brand is taking a 360 degree marketing approach with TVC, print ads, outdoor campaigns and BTL activities. The TVC is about a cool 8 year old kid who outsmarts his older brother to retrieve his favorite Zoop watch from him. Each Zoop watch comes with a warranty of one year and the materials used in manufacturing these watches are child friendly and ensure maximum safety. Talking about the evolution of the kids brand Zoop, Ms. Shyamala Ramanan, Sr. Marketing Manager, Titan Watches said, We strongly believe that launching of Zoop has been a significant move for Titan. Brand Titan has already made its place in the heart of all adults and Zoop will help us create recall of our brand amongst kids below the age of 12 years. Every Zoop watch is designed keeping in mind the playfulness, vivid imagination and the cool attitude that todays children exhibit. It has indeed received an overwhelming response from the limited markets we were present in. Now Titan is expanding our reach to 1200 outlets. Titan to open 300 outlets shortly, launches watches for kids-Zoop. Titan Industries plans to expand its reach by adding 300 outlets in big and small cities shortly expanding their reach to 1,500 outlets in Tier-I, -II and III cities from the present 1,200 outlets, to tap the potential of its new launched watch Zoop

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OBJECTIVES OF THE STUDY

To study the brand image of TITAN watches in market.

To expand the market through NTO (Non Traditional Outlets) of TITAN watches.

To spread awareness about ZOOP brand in market.

To determine the interest of retailers to associate with ZOOP watches.

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CHAPTER - 2

RESEARCH METHODOLOGY

According to Clifford Woody, Research Methodology comprises of defining & redefining problems, collecting, organizing &evaluating data, making deductions &researching to conclusions. Accordingly, the methodology used in the project is as follows: Defining the objectives of the study Framing of questionnaire keeping objectives in mind (considering the objectives) Feedback from the employees/ clients. Analysis of feedback Conclusion, findings and suggestions.

The product itself is not just enough for winning the customers. There are some bunch of services that adds value to the sales process and winning the customers. This study has been conducted with the intention of having an insight into the market potential for NTOs of TITAN and ZOOP watches along with their promotion also.

All the sources of the data are primary, which includes the structured observations from surveyors side. The sample consists of the retailers who deal in readymade garments, bags, watches, consumer durables etc.
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RESEARCH PLAN

The surveyors pre decided the way the research plan has to be formulated so that the survey can be carried out conveniently. Following are the research activities that have been followed by the surveyors.

RESEARCH ACTIVITIES

1) Defining the research objectives and the need of the information. 2) Developing the research design. Data source Primary Research approach- Survey Research instruments- Visiting outlets Contact method- Personal

3) Preparing and modifying the schedule. 4) Conducting the actual survey to collect the information.

5) Processing and analyzing the data. 6) Presenting the research results.

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RESEARCH DESIGN

As the need of the research was already specified and known to the surveyors therefore Descriptive Research Design was followed. It enabled the surveyors to carry on the right line of action and the scope of deviation from the track was eradicated.

DATA COLLECTION METHODS

Research is based on two sources: 1. Primary data 2. Secondary data

PRIMARY DATA:The surveyors have chosen the method of Questionnaire in order to carry on the process. There were some pre-determined parameters on the basis of which the surveyors collected the data.

SECONDARY DATA:Secondary data consists of different literatures like books which are published, articles, internet, the company manuals and websites of company- www.titanworld.com

In order to reach relevant conclusion, research work needed to be designed in a proper way.
25

SAMPLE DESIGN The sample design that has been adopted by the surveyors in accordance with the management of TITAN watches is Purposive Sampling.

SAMPLE UNIT Keeping in mind what has to be done, only those outlets were covered who sells readymade garments, bags, consumer durables and watches etc. SAMPLE SIZE The size of the sample that was analyzed and examined by the surveyors was 57. DATA INTERPRETATION INSTRUMENT In order to interpret the data clearly, the method which has been followed by the surveyors is Tabulation Method.

STATISTICAL TOOLS USED The main statistical tools used for the collection and analyses of data in this project are: Questionnaire

26

CHAPTER-3

Sn No:

DESCRIPTION OF STORE

PARTICULARS

ANALYSIS

27

1 2 3 4 5 6

Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

Yes All Branded , Non Branded Yes Yes(Branded, Non Branded) No*

GHAZIABAD

(1)

SHOP NAME: ADDRESS -

SINDHI SONS

MALIWARA CHOWK, NEAR OLD BUS STAND

CONCERNED PERSON: - RAJAT WADHWA (09717724244)

CONDITIONS APPLY*

RESPONSE:- The owner of the shop is reluctant to invest money in N.T.O but ready to provide space .Moreover he shows some interest in N.T.O if the company provides some lucrative credit terms. The owner of shop was much determined about Fastrack watches.

(2) SHOP NAME: -

EASY DAYS
28

ADDRESS -

OPULENT MALL, G.T ROAD

CONCERNED PERSON: - STORE MANAGER NOT REVEALED NAME

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes All Branded , Non Branded Yes Yes(Branded, Non Branded) Yes

RESPONSE:- :- One of the biggest outlet chain of Bharti Airtel Group with heavy walk- in, wants concerned person from TITAN to converse head office situated in Gurgoan(HARYANA). Through interaction its shows they are interest but want further decisions should be taken after communicating their head office or some senior official. It is one of the good breaks for N.T.O

(3) SHOP NAME:-

BINDALS GARMENTS
29

ADDRESS:- G.T.ROAD, GHAZIABAD CONCERNED PERSON:- P.R SHARMA

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes All Branded , Non Branded Yes Yes(Branded, Non Branded) Yes*

CONDITIONS APPLY*

RESPONSE:- As all Bindals stores are under one ownership they first want to look towards implementation of N.T.O and its success in Meerut then they will going to concern at Ghaziabad. This store has also huge potential .Walk-in was quite impressive and it is one of the reputed shop situated at G.T road, Ghaziabad.

(4)

SHOP NAME:-

CHABBRA 55
30

ADDRESS:- OPULENT MALL, G.T ROAD, GHAZIABAD CONCERENED PERSON:- CONCEALED NAME

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
No Ladies, wedding collections Non - Branded Yes No No

RESPONSE:- Recently opened store so they are unwilling to invest amount but will consider in future. The shop have potential to grow in coming days and can prove to be a good break for N.T.O as the store was quite large and location was excellent.

(5)

SHOP NAME:-

THE LOOT
31

ADDRESS:- NEAR OLD BUS STAND, GHAZIABAD CONCERNED PERSON:- STORE MANAGER

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes Garments, accessories Non Branded, Branded Yes Yes but NonBranded Yes*

CONDITIONS APPLY*

RESPONSE:- It is garment outlet chain all around the countries with more than 250 stores. The store manger wants us to communicate to their Area Sales Manager for further consideration. It is basically a corporate deal and if it settles it can prove to be an excellent settlement.

(6)

SHOP NAME: - CITY RIDE

32

ADDRESS:- CHOUDHARY MORE, SSTATION ROAD,GHAZIABAD CONCERNED PERSON:- STORE MANAGER

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes All Non Branded, Branded Yes Yes but NonBranded No

RESPONSE:- Not interested. They denied for N.T.O

33

MUZAFFARNAGAR

(1)

SHOP NAME: - BINDAL STORE CONCERNED PERSON:- NAVEEN CONTACT NUMBER:- 0131- 2406465, 0131- 2403070

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes Garments, accesories Non Branded, Branded Yes Yes Yes*

CONDITIONS APPLY* RESPONSE: - After having conversation with the purchase manager it can be concluded that they are interested in N.T.O. project. Moreover before entering into any agreement they want to look over the response in their Meerut Bindals store.

34

(2)

SHOP NAME:- KISHAN SONS CONCERNED PERSON:- SANJEEV GOEL CONATCT NUMBER- 009319936722

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes Garments, accessories Non Branded, Branded Yes Yes but NonBranded Yes*

RESPONSE:- The conversation with the owner of the shop was quite convincing and they are interested in N.T.O project. The space in the shop is quite good and walk-in is convincing. They want to talk to the concerned person from Titan.

35

(3)

SHOP NAME:-BALAJI GARMENT CONCERNED PERSON:- GIRISH PAHUJA CONTACT NUMBER:- 09897537356

Sn No:
1 2 3 4 5 6

DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS
Yes Garments, accesories Non Branded, Branded Yes Yes but NonBranded No

RESPONSE:- After talking to the shop owner and making him aware of each aspects of N.T.O still they are not convinced and reluctant in spending any money in the project but assure that in future he will going to think over it.

36

(4)

SHOP NAME: MODERN READYMADE GARMENT ADDRESS: - SHIV CHOWK (BHAGAT SINGH ROAD) MUZAFFARNAGAR CONCERNED PERSON:- Mr. BRIJMOHAN CONTACT NUMBER:- 9997978915
DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

Sn No:
1 2 3 4 5 6

PARTICULARS
Yes Garments, accessories Non Branded, Branded Yes Yes but NonBranded No

RESPONSE:- They are not interested in N.T.O project. They feel it as a expensive deal. But at the same time they assure to think over it in future.

37

(5)

SHOP NAME:- INDRALOK ADDRESS:- SHIV ROAD, MUZAFFARNAGAR CONCERNED PERSON:-Mr VIPIN TYAGI CONTACT NUMBER:- 9897060302
DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

Sn No:
1 2 3 4 5 6

PARTICULARS
Yes Garments, accessories Non Branded, Branded Yes No No

RESPONSE:- Not interest to being a part of N.T.O. Feels the market is not appropriate to send money now.

38

(6)

SHOP NAME:- ADARSH ADDRESS: - SHIV CHOWK, MUZAFFARNAGAR CONCERNED PERSON:- Mr. NISHANK JAIN CONTACT NUMBER:- 9897015829
DESCRIPTION OF STORE
Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

Sn No:
1 2 3 4 5 6

PARTICULARS
Yes Garments, accessories Non Branded, Branded Yes Yes Yes

RESPONSE:- After talking to owner of the shop relating N.T.O, it was quite clear that they want TITAN official to talk for further roadmap. They want to talk on credit issues too.

39

(7)

SHOP NAME:- KUMARS ADDRESS:- - SHIV CHOWK, MUZAFFARNAGAR CONCERNED PERSON:- AMIT KUMAR GARG CONTACT NUMBER:- 09997453232
DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) PARTICULARS Yes Garments, accessories Non Branded, Branded Yes No No

Sn No: 1 2 3 4 5 6

RESPONSE:- The owner of shop is not ready to being a part of N.T.O but he is ready to provide space inside. They dont want to spend money in purchasing watches as they feel market is quite slow and they feel mobile phones are giving stiff competition to watches.

40

(8)

SHOP NAME:-K-SONS ADDRESS:- SHIV CHOWK, MUZAFFARNAGAR CONCERNED PERSON:- :- R.K.GOEL CONTACT NUMBER:-0131-2432096

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes Garments, accessories Non Branded, Branded Yes Yes Yes

RESPONSE:- They are ready to be a part of N.T.O. They want to talk to concerned person from Titan for further deliberation.

41

(9)

SHOP NAME:- WEEKENDER KIDS ADDRESS:- SHIV CHOWK, MUZAFFARNAGAR CONCERNED PERSON:- :- ROHIT CONTACT NUMBER:-09897610176
DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) PARTICULARS Yes Garments, accessories Non Branded, Branded Yes No No*

Sn No: 1 2 3 4 5 6

CONDITIONS APPLY*

RESPONSE:- They are not interested but ready to provide space.

42

MEERUT

(1)

SHOP NAME:- BINDAL CLOTHINGS ADDRESS:- ABU LANE CHOWK, MEERUT CONCERNED PERSON:- :- NIDHISH BINDAL CONTACT NUMBER:-09720700800

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes Garments, accessories Non Branded, Branded Yes Yes Yes

RESPONSE:- He is interested for both NTO and Zoop and said to arrange a meeting from the senior official person from Titan.

43

(2)

SHOP NAME:- NAYYAR SONS ADDRESS:- F-1,SHRI RAM COMPLEX, LAL KURTI. MEERUT CONCERNED PERSON:- :- PRINCE NAYYAR CONTACT NUMBER:-09897901909

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes All Non Branded, Branded Yes Yes Yes

RESPONSE:- They are interested in N.T.O but before any further step they want to talk to officials from Titan regarding terms and condition thoroughly.

44

(3)

SHOP NAME:- CHUNMUN ADDRESS:- DELHI ROAD, NEAR SHANKAR CHOWK, MEERUT CONCERNED PERSON:- SANOJ CONTACT NUMBER:-0121-2404200
DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) PARTICULARS Yes All Non Branded, Branded Yes Yes No*

Sn No: 1 2 3 4 5 6

CONDITIONS APPLY*

RESPONSE:- They are not interest inN.T.O but they are ready to provide space inside their shop providing rent from Titan.

45

NOIDA (1) SHOP NAME:- INDRAPRASTHA ADDRESS:- ATTA MARKET, SECTOR 18, NOIDA

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes All Non Branded, Branded Yes No No*

CONDITIONS APPLY*

RESPONSE:- They were not interested for N.T.O but they were interested and also ready for investment on Zoop.

46

(2)

SHOP NAME:- LAKSHITA ADDRESS:- ATTA MRKET, SECTOR 18, NOIDA

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes Garments Non Branded Yes No Yes*

CONDITIONS APPLY*

RESPONSE:- They were ready to invest in N.T.O but only for ladies segment. Moreover they want watches to be purchased on credit

47

(3)

SHOP NAME:- MANYAWAR ADDRESS:- ATTA MARKET, SECTOR 18, NOIDA

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes Garments Non Branded Yes No No

RESPONSE:- They were not ready to invest in N.T.O due to presence of Titan outlet nearby.

48

(4) SHOP NAME:- CHILD JUNCTION ADDRESS:- ATTA MARKET, SECTOR 18, NOIDA

Sn No: 1 2 3 4 5 6

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O)

PARTICULARS Yes Garments(Child) Non Branded, Branded Yes No No

RESPONSE:- They havent shown any interest in N.T.O but were interested for Zoop watches for child.

49

(5) SHOP NAME:- CATMOSS ADDRESS:- ATTA MARKET, SECTOR 18, NOIDA

Sn No: 1 2 3 4 5 6 7

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

PARTICULARS Yes Garments(Child) Branded Yes No No Yes

RESPONSE:- They were interested for upcoming Zoop.

50

(6) SHOP NAME:- LILLIPUT ADDRESS:- ATTA MARKET, SECTOR 18, NOIDA
Sn No: 1 2 3 4 5 6 7 DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop PARTICULARS Yes Garments(Child) Branded Yes No No Yes

RESPONSE:- They were interested for Zoop and for that they want Titan to tie up with them through corporate meetings.

51

SHAHARANPUR

(1)

SHOP NAME :- LUCKY GARMENT ADDRESS:- DAL MANDI PUL, SHAHARANPUR CONCERNED PERSON:- LUCKY
DESCRIPTION OF STORE PARTICULARS Yes Garments Branded Yes No Yes Yes

Sn No: 1 2 3 4 5 6 7

Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

CONTACT NUMBER:- 0989749111

RESPONSE:- They are interested to be a part of N.T.O and for this they want official from Titan to have meeting with them for further clarification.

52

(2)

SHOP NAME :- SUNNY GARMENT ADDRESS:- COURT ROAD, SHAHRANPUR CONCERNED PERSON:- SUNNY CONATCT NUMBER:- 01322721390

Sn No: 1 2 3 4 5 6 7

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

PARTICULARS Yes Garments Branded Yes No Yes Yes

RESPONSE:- After talking to the concerned person of shop it can be derived that they are interested in N.T.O as well as Zoop. For further consideration they want person from Titan to have meeting with them.

53

(3)

SHOP NAME:- BIG JOS ADDRESS:- NEHRU PLACE SHAHRANPUR

Sn No: 1 2 3 4 5 6 7

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

PARTICULARS Yes Garments Branded Yes No No No

RESPONSE:- They are not interested to be a part of N.T.O. The reason behind is slow market growth of watches due to stiff competition from mobile phones.

54

(4)

SHOP NAME:- CHAWLA GARMENT ADDRESS:- NEHRU MARKET CONCERNED PERSON:- R. CHAWLA CONTACT NUMBER:-01322614102

Sn No: 1 2 3 4 5 6 7

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

PARTICULARS Yes Garments Branded, Non Branded Yes No Yes* Yes

RESPONSE:- They are interested in N.T.O but they want to have some credit terms facility from Titan.

55

(5)

SHOP NAME:- KIDS CORNER ADDRESS:- NEHRU MARKET, SHAHRANPUR

Sn No: 1 2 3 4 5 6 7

DESCRIPTION OF STORE Dealing in fashion accessories Product they deals Types of product Awareness about TITAN Watches Earlier dealing in watches Interested in Non-Traditional Outlet(N.T.O) Interested in Zoop

PARTICULARS Yes Garments Branded, Non Branded Yes No No No

RESPONSE:- They are not interested for now but can consider in future.

56

CHAPTER-4

FINDINGS

All most every retailer is already aware about TITAN watches. Very few of them were aware of ZOOP watches. Maximum of them are interested to associate with TITAN watches as well as ZOOP watches (after they come to know about the plans). Brand image of TITAN itself is the biggest factor to attract the retailers to associate with TITAN watches. Most of the retailers need display material to be provided from the end of TITAN watches itself. Most of the retailers want TITAN watches to carry out promotion for their shops. Some of the retailers also want TITAN watches to provide them a trained salesman (for watches only). Margin required by the retailers varied individually. NTO project of TITAN watches is attracting the retailers according to the response derived from the market through the research done by us.

57

CONCLUSION

Every product category has many brands competing for the same target segment. Thus, every segment has a large number of brands for customers to choose from. In the absence of any clear benefits, there is little to motivate the consumer to buy a specific brand. The increased brand clutter has resulted in variety of brands offering similar products to consumers. Moreover, easy access to mass media and opening up of new avenues such as digital and interactive media including Internet has made the consumer more aware, knowledgeable and sophisticated. Consumers regarding their rights has increased tremendously and correspondingly their expectations have also risen.

TITAN watches can be regarded as a true brand, which is perceived to be unique among the costumer due to excellent features, brand image, commitment to innovations and the price quality relationship. The brand is the sign of functional capability promising of the same level of quality and functional performance every time. In todays scenario TITAN group enjoys the market share of more than 50% in watch industry in India. TITAN watches are the market leader in India while it has been ranked sixth in the world. ZOOP is one of the exclusive brands that belong to the family of TITAN group. Since its inception, ZOOP has always been loved by children. As students of management this project has been very beneficial for us. This research gave us an insight of markets of MEERUT and NCR region. In the end we like to conclude by saying thanks to TITAN GROUP for providing us the platform where we were able to share our knowledge with various retail outlets.

58

LIMITATIONS

Although, it would have been nice to conduct a perfect research study, but this goal is however unrealistic as certain errors are found to creep in during the course of the research study. It is highly essential that the findings of the study should be considered with the knowledge of the possible errors.

Research is affected by so many outside variables while the respondents were giving the answers like noise, lack of time, frustrations and busyness.

Money also adds on to the limitations.

It is very difficult to verify the research results as the entire research results are based on the observations of both the surveyors which can be wrong.

In some cases some of the outlets were found to be closed on various days, due to which the surveyors need to visit them again which again leads to wastage of time and productivity.

The surveyors did their best to avoid any kind of biasness but still some human attributes may have offended the real picture of the research.

59

RECOMMENDATIONS

The Company should spread more awareness about ZOOP watches to penetrate deeply in the market.

The Company can open separate outlets for ZOOP watches which would enable them to sell more effectively and enthusiastically.

The Company should promote the product in schools and colleges by organizing events to create awareness among the youth and children.

The company should also target Jewelry shops for NTO as they have huge potential for premium watches specially. The company should also provide some credit terms to some retailers (if they requires) to remove the initial hesitation, this may work as an ice-cracker for them. The company can provide more margins to the retailers with large potential and greater foot-falls. The company should provide trained salesman for some initial period of time to the retailer (if they requires).

60

BIBLIOGRAPHY
www.titanworld.com www.zoop.in www.fastrack.in www.google.com www.wikipedia.com

Kothari C R, Research and Methodology- Methods & Techniques, New Age International (P) Ltd., 2004. Brochures provided by the TITAN watches India Ltd

61