Submitted by:

Group - 10

Submitted to:

Mr. Harjot Singh

Report on

Marketing Mix of Tanishq & Fastrack

Table of Contents

TANISHQ – AN INTRODUCTION...........................................................................................................1

TANISHQ - Turnaround.............................................................................................................................2

PRODUCT LINE & THE COLLECTIONS................................................................................................3

Tanishq Diamonds...................................................................................................................................3

Tanishq Gold...........................................................................................................................................4

Tanishq Platinum.....................................................................................................................................4

TANISHQ MARKETING STRATEGY.....................................................................................................4

Tanishq - Strategies for Wooing Customers............................................................................................6

Exchange Policy in Tanishq................................................................................................................6

SOME OF TANISHQ’S COMPETITORS..................................................................................................7

Asmi........................................................................................................................................................7

Nakshatra Diamonds...............................................................................................................................7

Gili..........................................................................................................................................................8

Nirvana Diamonds...................................................................................................................................8

D'damas Diamonds..................................................................................................................................8

Promotion....................................................................................................................................................8

Advertising..................................................................................................................................................8

COMPANY PROFILE: FASTRACK.........................................................................................................9

BACKGROUND OF FASTRACK.........................................................................................................9

RE-LAUNCH OF THE BRAND.............................................................................................................9

STP ANALYSIS.......................................................................................................................................10

SEGMENTING:....................................................................................................................................10

TARGETING:.......................................................................................................................................11

POSITIONING:.....................................................................................................................................12

MARKETING MIX OF FASTRACK:......................................................................................................12

PRODUCT AND PRICE:......................................................................................................................12

PRICING...............................................................................................................................................13

APPLICATION OF PRICING STRATEGY.....................................................................................13

Price Discounts and Allowances........................................................................................................13

PROMOTION.......................................................................................................................................14

Promotion on Occasions....................................................................................................................14

PLACE:.................................................................................................................................................15

Online Marketing...................................................................................................................................15

CONCLUSION:........................................................................................................................................15

REFERENCES..........................................................................................................................................15

TANISHQ – AN INTRODUCTION

Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TATA group, India's most respected and widely diversified business conglomerate.

This year marks a decade of successful innings for Tanishq. With retail sales of Rs. 3,500 crore in 2009-10 and gunning for Rs. 10,000 crores in 2014-15, Tanishq has arrived in the Indian jewelry market. In 1995, Titan Industries, India's leading manufacturer of watches launched the Tanishq range of gold watches and jewelry. Till then, the Indian jewelry market was to a large extent unorganized. Tanishq, which accounts for 70 percent of Titan’s revenue, had once come dangerously close to being nixed by the Titan’s board and the company itself was in very bad financial state. It was this time that Mr. Bhaskar Bhat took over the company in 2002.

Tanishq was started to export jewelry and fund the International venture. But it didn’t work out well. Tanishq, an entirely new concept in the Indian market, thus had to struggle hard to be accepted by the customers. Tanishq began by offering jewelry in the 18-carat gold range, with designs borrowed heavily from contemporary European brands. Tanishq performed very badly in the next three years, posting a huge loss in 1997-98. Jacob Kurien, Tanishq's chief operating officer admitted, "Tanishq, as a concept, was far too ahead of its times." He took over as COO of the jewelry business in 2000. Later in 2002, he had to made impassioned plea to Ratan Tata to give him some more time to demonstrate results. Tata agreed and Kurien kept his promise as when he left in 2003 Tanishq was profitable having reached Rs. 560 crore turnover.

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Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. Jewelry at Tanishq is crafted in one of the world's most modern factories. The factory complies with all labor and environmental standards. Tanishq set up an ultra-modern and large-scale manufacturing unit in Hosur, Tamil Nadu at a cost of Rs 600 million. The 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. The unit had facilities like refining, alloying and stone casting and a dust-extraction system that kept gold losses down to 2% of the raw material while local jewelers typically lost 8-10%.

Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweler in the country. Tanishq challenged the age-old jeweler’s word with TATA's guaranteed purity. It exploded the market with facts about rampant impurity across India. It introduced technology-backed challenge in a category completely governed by individual trust.

Behind this is a technology group ‘Titan Design Studio and Innovedge’, established in early 2008, which comes up with new ideas for various divisions.

TANISHQ - TurnaroundIt is not an easy task selling gold in a country where most of the customers trust the Goldsmith around the corner and have been doing business with them for generations. Tanishq, however, seems to be managing it well after almost a decade and a half. A recent review by McKinsey states that Tanishq’s jewelry business is on firm ground. The reasons include first-mover advantage (the pioneer part has its benefits); a scalable national model in organized retailing; and an increasing contribution to Titans revenues.

In its earlier years, Tanishq faced many problems and it reached on the verge of shutting down. Tanishq found out that it had gone wrong mainly in two areas - the product proposition and retailing. Initially with a focus on the export market, its designs were predominantly Western, and the same line of jewelry was sold in India as well. Then, it was decided to introduce the 22 & 24 carat ornaments, expanding the 18 carat jewelry. Effective marketing has ensured impressive growth for Tanishq.

Analysts say Titan has many things working in its favor at Tanishq. The business has "unparalleled brand equity and excellence in execution and strategy," wrote analysts Sanjay Singh and Pratik Biyani at ICICI Securities, who have initiated coverage on Titan Industries, with a target price of Rs 2,576, a premium of at least one-sixth over the share price on the BSE in mid-May.

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Tanishq had to make the production process more flexible by introducing Japanese machinery at the Hosur Plant. . The emphasis was on customization according to customer demands. The emphasis was given on knowing the customer demand across all sections. Surveys were conducted to formulate the business strategies. These surveys resulted in a new jewelry range (Collection G 9 to 5 ranges) for working women.

Customer acquisition strategy was adopted which meant employing innovative marketing initiatives. Like some players in the apparel industry, Tanishq decided to launch an innovative collection in every quarter of the year to encourage customers to frequent the stores.

The path-breaking 'impure to pure exchange' enabled customers to exchange impure gold for 22-carat gold. The response has been tremendous.

Tanishq has gelled tradition with modernity very well." Despite the premium brand image, Tanishq has products for every pocket. Its range begins at Rs 525 for a pendant and can go up to several lakhs of rupees for a diamond ring from the Aria collection.

Tanishq is today perceived as a design leader in jewelry, as a distinct, fashionable brand which defines trends in jewelry, as a retail brand which offers an elegant, clearly differentiated shopping experience which is quite unique in this category.

PRODUCT LINE & THE COLLECTIONS

Tanishq DiamondsThe sparkle of diamonds has always attracted the human eye.

Cut and crafted with utmost care, Tanishq diamonds come with a certificate of authenticity, stating the caratage, colour and clarity of the stone, to enable you to know exactly what you are paying for.

No gemstone expresses human emotions more powerfully than a diamond and Tanishq transforms these precious stones into breathtaking masterpieces, each unique and splendid in design. When it comes to diamonds at Tanishq you will be spoilt for choice from many collections we have to offer.

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Tanishq GoldFrom the traditional harams, mangalsutras and thalis to the more fashionable earrings, chains, bracelets and rings, there is a lot to choose from at Tanishq.

In India, Gold has always been associated with security and is the most valuable form of investment. However, it has been observed that consumer is an easy target to several malpractices like under karatage, under valuation of the gold sold and unfair buy back policies due to the lack of awareness about these issues.

Tanishq propagates ethical practices not only by assuring the customer purity and selling policies, but also fair policies to the karigars who craft the jewelry. Tanishq's designs in Pure 22k gold are not only unique, expressing the wearer's individuality but each piece is subject to the intricate process of design, crafting and stone setting with stringent quality standards at every

point.

Tanishq PlatinumTanishq's Platinum represents excellent value for money. The price may be higher than a similar item in gold but platinum is pure, rare, enduring, beautiful, luxurious, classic, and the perfect host for diamonds; precious qualities that make it worth paying that little bit extra for.

TANISHQ MARKETING STRATEGYWhen Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore, was mostly unorganized, with around 3.5 lakh players. India was the second largest consumer of gold in the world after USA. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

In the 1990s, a number of brands entered the Indian jewellery market. In 1995, Mumbai based jewelry exporter, Gitanjali Jewels, started selling 18-carat gold jewelry under the brand name of Gili. Su-Raj (India) Ltd. launched its 22-carat gold and diamond jewelry in 1997. Other well known domestic players included Tribhovandas Bhimji Zaveri, Mehrason's and P. C. Chandra. Among the foreign players who entered the market were Cartiers, Tiffany, De Beers and Ashton Mining.

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Titan realized that there was a huge untapped market for branded jewelry in India. The critical success factors in the business were quality, fashionable design, and good after-sales service. Titan also observed that the changing lifestyles demanded lighter and trendier jewelry.

After its launch, Tanishq faced several problems. With its original focus on exports, Tanishq's designs had been conceptualized for the Western markets and were introduced in India without any alterations. Formal consumer surveys showed that though brand awareness was quite high, it suffered from several negative perceptions. Many potential customers thought the products were over priced and associated the brand only with the rich.

Hence, Titan decided to change its strategy on two fronts:

Value proposition

Retailing.

Since the European designs in 18-carat gold did not find any takers in 1997, Tanishq introduced 22-carat ornaments. Customer surveys revealed that gold jewelry was not bought so much for design as for value. Titan also decided to do away with the shop-in-shop formats and started retailing its jewelry through exclusive Tanishq outlets from 1998. Titan realized that, given the diverse nature of Indian ethnicity, it would have to satisfy the tastes of all regions. So, the designs became more ethnic.

Titan also decided to transpose designs by stocking Bengali designs in Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people. The same year, Tanishq entered the studded jewelry segment, which it had ignored for long. Titan also tapped institutional customers also. In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold'. In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be given away as gifts to Maruti car owners. In early 2000, it made miniature gold cars for Hyundai Motors to be given to select dealers.

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.

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Tanishq - Strategies for Wooing CustomersIn the late 1990s, players in the branded gold jewelry market formulated strategies for wooing customers.

The emphasis had to be on design because local jewelers could offer to design any pattern according to the customer's specifications. For a national brand a generic design concept with regional variations had to be evolved. For this, Tanishq set up a seven member in-house design team and also outsourced designs from freelance designers.

The designers travelled the length and breadth of the country to get feedback on Tanishq's designs and learn about customer preferences. On the basis of this feedback, each showroom could select the designs it would carry. To stay ahead of competition from local jewelers, Tanishq decided to focus on quality control. In 1999, it introduced Karatmeters which showed

the purity of gold. As the concept of Karatmeter became more widely known, customers began to realize that the rates they were paying for Tanishq jewelry were indeed justified. A Tanishq official commented, "They have begun to understand the total value proposition that Tanishq offers."

In fact, Tanishq's USP was the purity of its gold. Accordingly, the company's ad campaigns emphasised the purity aspect of all Tanishq ornaments. In November 2002, Tanishq introduced a new collection of jewellery called 'Lightweights.'

The collection featured neckwear, earrings, bangles, rings and chains in 22 karat gold with prices starting at Rs 1,100. It also launched Lightweight Diamonds, with prices starting at Rs 3,000. Tanishq focused not only on urban markets, but small town markets as well. Real estate was less expensive in the small towns than in large urban centers.

Besides, competition from stores in small towns was less stiff than competition from the large jewelry stores in the metropolitan cities. According to Kurien, the best returns on investment

came from small towns. The focus on smaller cities paid off well with the annual growth being as high as 150% as compared to the 45% growth in metros.

Exchange Policy in TanishqExchange your old jewelry for new with Tanishq

Most retailers have a differential buy back or different rates for selling and buying gold jewelry. At Tanishq, a single gold rate is maintained for buying or selling gold jewelry. 8% of the value is deducted for costs involved with testing, refining and taxes for the jewelry given by the customer.

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When you exchange any Tanishq gold coin with jewelry, you get the benefit of the current gold

rate and full value exchange without deduction.

Most jewelers exchange jewelry returned to them at the purchase price hence any appreciation in the value of gold and diamonds are not accounted for. At Tanishq, when you exchange diamond jewelry purchased from them it is exchanged for its current value, thus giving you the benefit of any appreciation that would have taken place in the price of gold or diamonds.

Commenting on Tanishq’s success story, Mr. C K Venkatraman, COO, Tanishq, said "We have been able to capitalize on the trends of the local jewelry markets by building on our solid financial strength, market-leading brand position, wide network, local sourcing strategy, a management model of excellence and, most importantly, a philosophy of customer care. In the future, the key to building stronger competitiveness will lie in enhancing network coverage, brand equity and logistics. Amid the keen competition in the Indian jewelry market, only the strong player can emerge victorious."

SOME OF TANISHQ’S COMPETITORS

Asmi Asmi, one of the leading diamond brands of the country, was launched, In 2002 by The Diamond Trading Company Ltd, (DTC). The Asmi diamond Jewelry Collection is crafted to beautifully compliment and complete her. Asmi caters to the women of substance & satisfies her mind for rewards recognition, evolving to suite her style & Personality.

The brand has been endorsed by various celebrities such as Kajol, Mandira Bedi & Perizad.

All these women epitomize the different strengths. An Asmi woman is closely identifies with free-spirited, goal-oriented & with an inner fire.

Nakshatra DiamondsThe world renowned Nakshatra diamonds were launched in 2000, with an equally dazzling Aishwarya Rai as its brand ambassador. In the present scenario Nakshatra diamonds occupy a leading position in the fashion diamond jewelry segment. The traditional diamond is the most wanted design among Nakshatra diamonds.

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Nakshatra diamonds claim to shine your glamour and love life. They have aptly put their slogan as "brightest circles of light." Elegant and graceful Nakshatra diamonds are the epitome of passion, attitude and independence.

GiliGili was launched in 1994, targeting mainly the youth who wanted to celebrate Valentine's day. Since then, the brand has clocked a turnover of Rs. 90 crores.

Nirvana DiamondsNirvana Diamonds from Fine Jewelry (I) Ltd. was launched in 1987 in India. Nirvana diamonds are targeting at fashion conscious, modern and independent thinking women. Internationally acclaimed Nirvana diamonds are manufactured by using state-of-the-art technology. As a proof of their quality Nirvana was among one of the brands to offer lifetime warranty to its consumers.

D'damas DiamondsD'damas Diamonds are part of Gitanjali Digico Group and one of the earliest diamond houses established in India in 1966. On the present day D'damas Diamonds offer highly modernized diamond cutting and polishing facilities at five locations in India. D'damas Diamonds claim to promote a range of emotions through their collections.

Promotion Tanishq launches ‘Free gold coin offer’ campaign

July 19, 2008 (India)

Tanishq launched its "Get Gold free with Diamonds" promotional offer were customer be entitled to win at least one 22-kt one-gram gold coin on every purchase of diamond jewelry worth Rs 5,000 and above.

"Get Gold free with Diamonds' caters to the aspirations of Indian woman by providing an opportunity to own diamond jewelry and win gold, which is a huge investment opportunity.

AdvertisingT V Advertisement: Tanishq focus on the emotional attachment in the advertisement like engagement, marriage and such other occasions.

Print advertisement: Leading news paper and feminine magazines are targeted to do the advertisement. In short, they know their target market and hence do advertising as required.

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Bollywood tie-up: Has done tie up with Paheli where in the movie Ms Rani Mukherji Was seen wearing Tanishq jewellery through out and in Jodha Akbar Movie were they launched a product line named Jodha Akbar.

COMPANY PROFILE: FASTRACK

BACKGROUND OF FASTRACK Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market. When that JV broke off in1997 and Timex went independent, there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering. Fastrack was launched as a range of watch wear under Titan and was called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong. They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.

RE-LAUNCH OF THE BRAND They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check. Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience. But what was happening was the collection in terms of looks, price point and consumer buying behavior was very similar to Fastrack, including advertising. The parent brand needed to continue in its endeavor to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.

Old Logo New Logo

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Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance. However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.

Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005. The year took off so well that they ran out of stock very quickly and ended the year with a150 per cent growth and the demand was growing continuously. Next year, they recorded another100 per cent growth.

When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years. Fastrack has a presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channel distribution network which covers the 228 strong World of Titan Network,122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.

It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success. It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.

Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, it now has enough categories to open a fashion accessories store ± and that’s just what they’ve done!

STP ANALYSIS

SEGMENTING: Wrist watch can be majorly segmented on the basis demographic factors and price. On the basis price the market can be segmented into low priced, medium priced and high priced. The low priced watches are priced less than Rs.1000, medium priced watches are priced from Rs1000 to Rs.3000 and highly priced are priced above Rs.3000. Fastrack has unveiled products in all the segments. The range of Fastrack watches is from Rs. 500 to Rs.4000.

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On demographic grounds, the market could be segmented on the basis of age. The watches could be targeted at kids, youth and middle aged people. Fastrack watches were launched to cater to the needs of youth at first however it introduced watches for kids also later on.

TARGETING: Fastrack has products caters to the products in all the segments. The range of Fastrack watches is from Rs. 500 to Rs.4000. Hence it is catering to all the three segments of low, medium and highly priced segments. However more emphasis is laid on medium and high priced segments.

Collection Price range Sport 2000-4000 Army 2000-3500 Adventure 1000-2000 Basics 500-1500 Grunge 1000-2500 Aluminum 500-1000 Color Play 1000-2000 Digital Fashion 500-2000 Essentials 1000-2500 Party 1500-3000 Pairs 3000-3500 Neon - Disc 1000-2500 Neon 500-1500 XY 1500-3000

On demographic grounds, Fastrack watches were launched to cater to the needs of youth at firsthowever it introduced watches for kids also later on. Hence it is targeting both youth and kidssegments.

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Collection Target Sport Men only Army Both men and women Adventure Both men and women Basics Both men and women Grunge Both men and women Aluminum Women only Color Play Women only Digital Fashion Both men and women Essentials Both men and women Party Both Pairs Pair Neon - Disc Men only Neon Men only XY Both

POSITIONING: Fastrack positions itself as both trendy and affordable range. These two attributes were usuallyconsidered as two poles wide apart. Fastrack has taken the challenge of combining both thefeatures to offer a greater value proportion to its customers.

MARKETING MIX OF FASTRACK:

PRODUCT AND PRICE: There are a variety of collections of Fastrack watches specifically targeted to men and women.

Each product is includes a different set of features to meet the need of specific customers.

COLLECTION PRICE RANGE TARGET Sport 2000-4000 Men only Army 2000-3500 Both men and women Adventure 1000-2000 Both men and women Basics 500-1500 Both men and women Grunge 1000-2500 Both men and women Aluminium 500-1000 Girls only Colour Play 1000-2000 Girls only Digital Fashion 500-2000 Both men and women Essentials 1000-2500 Both men and women Party 1500-3000 Both men and women

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Pairs 3000-3500 Pair Neon - Disc 1000-2500 Men only Neon 500-1500 Men only XY 1500-3000 Both men and women

PRICING The price of the models of Fastrack ranged from Rs.550 to Rs 2,430 and was designed exclusively keeping in mind the Generation X of the subcontinent.

Titan’s primary pricing objective is to kill Competition. Being an Indian manufacture and infusing the advantages of the Indian market with the dynamics of the western market the company has carved itself a place difficult to achieve by foreign players.

APPLICATION OF PRICING STRATEGY The main plank of the watch market is in the less-than-Rs.1,000 price category. Effectively, about 70 per cent of the sales in the watch industry in India are in this category. None of the foreign brands has a presence in this category.

Only cheap Chinese watches are present in this bracket and they compete with the unorganized manufacturers, who are more expensive than them. So, the unorganized sector is getting hit from the bottom by Chinese products and at the top by the organized sector brands, such as Sonata.

Price Discounts and Allowances Fastrack once a year comes out with a Price discount sale on the MRP of the watches which is based on the stock carried by the company at the year end. Warranties and Service Contracts

Fastrack provides warranty or service contract to its watches and this is backed up by the name TATA which is especially needed to convince and march ahead in the lower segment market.

Product Line Pricing Tata’s have paid Rs.10 crore for the three-year contract. For the Tatas themselves, it meant more than just sponsorship – it signaled the beginning of a new era in the Tata regime. One of the main reasons for the sponsor of this event is “Global event like these provide a great opportunity to corporate to satisfy their marketing objectives and cross-promote their brands”,

The differences in the prices of the watches are justified by the features, the style, and the differences which make up each watch. Titan prices all its watches in such a way that it maximizes the total profit on the total mix.

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PROMOTION Advertising: advertising is in the form of television commercials. The company uses youth icons to portray the trendy and funky look of the brand and to associate with it.

Public displays also play an important role in promotion. The colorful and lively bill boards play an important role in promotion.

Promotion on OccasionsTitan is one of the companies which formally believe in the policy of promotion the product based on the occasions of the calendar. With every occasion having a special memory attached to it exploits this memory aspect and pushes its products. Not only the promotion of the existing products is done on these occasions but new products which would sell like hot cakes are launched for the sole reason it creates an impact in the minds of customers and appeals to the occasion thus making it even more special. In this context TITAN launched the “THE BIG HEART OFFER FROM TITAN FASTRACK” where fashionable jewelry was a gift on purchase of any Fastrack watch. This jewelry set of a pendant and earrings is contemporary and unique in form and material, with steel and acrylic being used together for stunning effect. This was launched for Valentine’s day where the name scheme, The watch being advertised for (Fast track) as it pertains to the youth, jewelry (for the youth), valentine’s day (more so for the youth) and adding to the excitement is A LIMITED EDITION FASTRACK VALENTINE'S COLLECTION that is being made available in four designs. Only 300 watches of each design will be on sale across cities during this fortnight. These watches are designed is steel with leather straps in the colors of the season – black, red and silver. The dials are in matched colors with heart patterns, making the collection a true blend of fashion and romance. "Young couples are looking for new ways to discover their relationships and this set of special watches and matching jewelry from Fastrack, gives them just the reason to do so. The `promotion was in Mumbai, Delhi, Pune and Bangalore from Feb 1–14.

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PLACE:

Channels: The product is sold at almost all the leading watch stores and shopping malls. The company has also established branded stores and it is also available in Titan stores.

Coverage: the products are available all over India.

Online MarketingFastrack has just unveiled its digital marketing strategy. This started with the launch of the website www.fastrack.in, in January 2008. The web address is displayed on the “Bikers Don’t Cry” TV Commercial. This site will feature polls, contests and various User Generated Content (UGC). Then, there are two communities on Facebook Bikers on the Fastrack and Life on the Fastrack. There is also a Fastrack Rocks community on Orkut. And all this is looked after by the Bangalore based digital marketing agency Maxus Interaction.

CONCLUSION:The marketing mix has shown that how both the companies have learnt from their past mistakes and come out strong. They have capitalized on their core competencies and shown that delivering value to the customer is the only way to survive and grow. They have an edge over their competitors as being a TATA product – a trusted brand in India. They enjoy goodwill in the market, strong financial position and launch new designs every quarter of the year. But there are not enough exclusive showrooms for the two brands which act as an area of concern and may play a spoil sport as their presence is not up to the expectations and leave a huge untapped market potential.

The rapid market changes and customer preferences are the opportunities which sow a future potential but they must keep an eye on the new competition entering the market.

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REFERENCES

1. www.titanworld.com2. www.factrack.in3. www.tanishq.co.in4. Kuldeep opticals (Patiala)5. Anand Watch Co. (Patiala)6. City Opticals Centre (Patiala)

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