Project Proposal No.

_______________
(To be assigned by the School) MBA

School of Management Studies INDIRA GANDHI NATIONAL OPEN

UNIVERSITY Proforma for Approval of Project Proposal (MS-100)

Enrolment No. : 199285688 Study Centre Code : 0769

Regional Centre Code : 29
Name of the Student : Sahil Dhingra
Address of the Student : 8/9, First Floor, Geeta Colony, Delhi-31

E-mail Address : dhingrasahil178@gmail.com

Title of the Project : Marketing strategy with brand repositioning strategies of Titan watches.

Subject Area : MBA (Marketing)

Name of the Guide : Atul kumar

Address of the Guide : E-606, Uninav Heights, Rajnagar Extension, U.P.-201017

Is the Guide an Academic Counsellor of Management Programme of IGNOU? No

If Yes, Name and Code of :
Study _________________________________________________________
Centre, the courses s/he is __________________________________________________________
counselling, and period __________________________________________________________

No. of Students currently working : 1

under the guide for MS-100

Signature of Student Signature of Guide

Date: Date :

Please do not forget to enclose the Project Proposal and signed Bio-data of the guide.

For Office Use only

Proposal Guide
(SIGNATURE OF MANAGEMENT FACULTY)
Approved Approved
Date ..........................................
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 PROJECT SYNOPSIS

Marketing strategy with brand repositioning strategies of Titan

watches

Submitted By:

Sahil Dhingra

Enrollment No: 199285688

Under The Guidance Of:

Mr. Atul kumar

Submitted To:

INDIRA Gandhi National Open University

In partial fulfillment for the award of the Master’s Degree in Business

Administration (Marketing)
 INTRODUCTION

"A business has two - and only two - basic functions: marketing and innovation."

- Peter Drucker

The rapid pace of change and intense competitive pressure in today's marketplace
demand that brands continuously innovate and reinvent themselves to maintain their
relevance and market position. In this context, brand repositioning and other
revitalization strategies have become a business imperative for battling brand
erosion. The appeal of brand repositioning is further heightened by the rising costs
and high risk associated with launching a new brand.

Watch is one of the consumer durables whose replacement rate is very high. Due to
high scrap rate, outdated models, and the shift from the mechanical watches to the
quartz watches it is causing a very high replacement demand for watches. This along
with the low penetration level represents the untapped market potential for watches
in India.

After liberalization of Indian economy many international players have entered the
Indian Watch market posing as competitive threat to the Indian companies.

Lately Titan has tried to reposition its Brand to capture more segments of the watch
market retaining the already served market segment. The strategy has been studied
in deep during the project. Many brands and companies are constantly reinvigorating
their businesses and positioning them for growth. There is a constant need to
innovate, reinvigorate, update, recalibrate, or just simply fend off the competition in
an effort to better explain "why buy me."
Brand positioning creates a specific place in the market for the brand and product
offerings. It reaches a certain type of consumers and delivers benefits that meet the
needs of several key target groups and user.

The actual approach of a company or brand's positioning in the marketplace depends

on how it communicates the benefits and product attributes to consumers and users.
As a result, the brand positioning of a company and/or product seeks to further
distance itself from competitors based on a host of items, but most notably on five key
issues: Price, Quality, Product Attributes, Distribution, and Usage Occasions.

In the recent times, a major brand repositioning exercise has been planned by Titan
Industries Ltd. in order to provide more to its customers. The company has first gone
for change in logo and tagline. Then the communication strategy has been revamped
to convey its new position. The present study consists of reviewing the positioning
strategies of Titan watches. An analysis of repositioning strategies of Titan also forms
part of the study. The main objective of the study is to find out whether the loyal
consumers of titan watches are aware of the new positioning strategies of the
company and how they perceive them.

The strategic importance of brand repositioning in preserving and enhancing brand

equity, coupled with the mixed results of repositioning attempts, underscores the
need to develop a better understanding of the dynamics of brand repositioning.
Specifically, questions of whether, when and how brands should be repositioned need
to be addressed.

Research into brand repositioning is relevant not only to the development of

brand management theory, but also extends to corporate strategy through an
examination of corporate brands.
 INTRODUCTION THE COMPANY

Titan Industries was established in 1984 as a joint venture between the Tata Group
and the Tamil Nadu Industrial Development Corporation. The company brought
about a paradigm shift in the Indian watch market, offering quartz technology with
international styling, manufactured in a state-of-the-art factory at Houser, Tamil
Nadu. Leveraging its understanding of different segments in the watch market, the
company launched a second independent watch brand-Sonata, as a value brand to
those seeking to buy functionally styled watches at affordable prices. In addition it
focused on the youth with its third brand – Fastrack. It has also premium fashion
watches by acquiring a license for global brands such as Tommy Hilfiger and Hugo
Boss, while. It has also in its portfolio its first Swiss Made watch brand – Xylys.

In 1995, the company diversified into jewellery under the brand – Tanishq to
capitalize on a fragmented market operating with no brands in urban cities. In 2005,
the company launched its second Jewellery brand, Gold Plus, for capitalizing on the
opportunity in small towns and rural India.

The company has now diversified into fashion Eyewear by launching Fastrack
Eye-Gear sunglasses, as well as Prescription Eyewear. The Company leveraged its
manufacturing competencies and branched into Precision Engineering Products and
Machine Building from 2013. Today Titan Industries is India's leading manufacturer
of watches and jewellery.
 RATIONALE OF THE STUDY

A brand name represents the image, character and personality of a brand. A brand
name should be clear, lucid, easy to remember, distinct from the competition and
should not be generic to the category. It should become customer's Top of the mind
brand (TOMB). Most successful brand names would satisfy these criterions to quite
an extent. Brand loyalty is one thing which has made the branding more popular.

Some analyst argue that to successfully reposition an established brand name is

almost impossible because repositioning of a brand can make the most loyal
customer to switch brand. But, in some circumstances a repositioning is necessary to
gain credibility if the brand is eroded. Whenever a reposition is in question it has to
be of relevance from a customer perspective, is this achievable? Some brands will on
no account be thought on as a luxury brand and therefore an attempt to reposition
will only damage the brand image or the actual company.

The repositioning marketing strategy is rolled out in three stages: introductory,

elaboration and fortification stages. It is truly tough to change the customer’s
perceived attitude towards a brand, and therefore the risk is great that the attempt to
repositioning might be unsuccessful.
 PROBLEM STATEMENT

Marketing strategy with brand repositioning strategies of different sub-brands of Titan

watches. And understand the gaps in its marketing strategies regarding brand

repositioning exercises and advise further measures to be taken for effective marketing.

OBJECTIVES OF THE STUDY

 Brand repositioning strategy as a marketing strategy of different sub-brands of Titan

watches.
 To study consumer awareness and perception about the brand repositioning Strategies of
Titan watches.
 This study would help titan industry to understand the gaps in its marketing strategies
regarding brand repositioning exercises and the further measures to be taken for effective
marketing communications.

 RESEARCH METHODOLOGY
The appropriate research design formulated is detailed below. Interviews with
the consumers will be carried out and the final conclusion will be drawn out of it.
Secondly, a questionnaire is to be created for evaluating the objectives and trends
out of it.
NATURE OF DATA: In research methodology data must be collected. And there
are two sources of collection of data i.e.

 PRIMARY DATA:
OBSERVATIONS - It is the methods of nothing and recording information without
asking specific question from the respondents.
PERSONAL INTERVIEWS - In this method I will ask the question from the
performa in the order questions are listed and record the replies.

 SECONDARY DATA: Secondary data is that data which is already available and
published. It could be internal and external source of data.

INTERNAL SOURCE OF DATA: It originates from the specific field of study like
published brochures, official reports, etc.

EXTERNAL SOURCE OF DATA: It originates outside the field of study like books,
periodicals, journals, newspapers and internet.

 SAMPLE DESIGN:
SAMPLING UNIT: Consumers of Titan watches in the age group of 20 – 30 years
SAMPLE SIZE: Approx. 50 (may vary during actual study)
RESEARCH LOCATION: Delhi, NCR
RESEARCH PERIOD: Up to 2 months
SAMPLING PROCEDURE: Random sampling
 LIMITATIONS OF THE STUDY

Efforts will be made to make the study as accurate as possible, 100% accuracy
cannot be claimed because of the following reasons:

 The study is confined to Delhi, NCR area only

 There is possibility of sampling errors in the study

 The responses of the consumers may not be genuine

 Time constraint of the study

 Bio-Data of Guide

Name: Atul kumar

Phone: +91-8882247053

E-mail: atulkumar198@gmail.com

Father’s Name: Mr. Bimal

Date of Birth: 05-03-1988
Address: E-606, Uninav Heights, Rajnagar Extension, U.P.-201017

Working experience:

Designation Organization Duration

Senior marketing Rockwell automation,
June-2015 – till now
analyst A66 sector 64 Noida - 201301
Varsed Group of Companies May 2012 to May-
Sales executive
Buld-09 Cyber city, Gurugram 2015

Educational Qualifications:
YEAR OF
Percen
INSTITUTION COMPLETIO
t
PROGRAM N
Indus School of Business and Management,
MBA (Marketing) 74 2012
Farukhnagar, Haryana
B.E(Instrumentation) Bhopal Institute of Technology, Bhopal 73 2009

____________________

Atul Kumar