The sub-brands of Titan Company have always tried to challenge and change the atmosphere of their respective markets, be it watches, jewellery or eyewear. That’s been a conscious strategy for the brand, reveals Ronnie Talati, Vice President & Chief Marketing Officer, Watches & Accessories Division, Titan Company, and now the brand’s poised to take on the Rs 2,000 cr perfume market with its new range of fragrances Skinn
By Saloni Dutta
Q] What is Titan’s core marketing mantra?
At Titan, we focus on creating world-class brands, and we always endeavour to influence and change the markets. For example, we did that with our watches when we first started 27 years ago, and we changed the jewellery market when we first launched our collection. We have achieved the same with our youth brand, Fastrack, too, as well as with our eyewear brand, Titan Eye+. Now hopefully Skinn, our new perfume line, will enjoy similar success.
Q] What is the USP of brand Titan in relation to the other brands?
Titan is a mid-market brand. Our biggest USP is that we offer world-class quality, a variety of world-class designs at very affordable prices.
Q] What does your media mix entail for different brands at Titan look like?
Our media mix depends on the brand. When we launch a new product, it usually involves a 360-degree media plan, whereas if it’s a product campaign for an existing brand, it could be just Television or a combination of that and Outdoors. If we want to do a slow trip kind of awareness building, we go for a Print/magazine-led campaign. We really ride on festive seasons like Diwali, Valentine’s Day, Christmas and the holiday season, some of which are relevant for watches, some for jewellery, and others for bags, belts and wallets.
Q] How do you strategize the integrated marketing communication plan for various brands under Titan Company Limited? Do they fall under one common plan or do you have separate plans for each brand?
We don’t have an integrated marketing plan. Our brands are so diverse — Titan stands for elegance and sophistication, whereas Fastrack reflects the youth’s way of life, and Sonata is specifically for the mass market. That’s why we have separate teams for all our brands, so that each brand maintains its identity.
Q] Can you recount an interesting experience while marketing Titan in India?
I can’t think of an experience particularly. But for me, the most interesting part of being at Titan is that each brand is left to take on a life of its own. You asked me earlier how we integrate the communication, which is what most companies would do. At Titan, however, we try to do exactly the opposite. We try to disintegrate all our brands. In fact, Fastrack disassociates itself from Titan, and has become an independent brand, and so has Sonata.
The independence of each of these brands, allows them to take on a life of their own. Many times, consumers don’t even relate to the fact that Fastrack and Sonata are Titan brands. Has that been a problem, the brands not being associated with the parent brand? Not at all. In fact, we try to do this a lot more, because it has worked so well for us.
Q] What are the latest marketing initiatives undertaken by Titan Company Limited? How effective have they been?
We’ve just launched our line of perfumes, Skinn, and we have planned a whole bunch of activities around it. We will launch a 360-degree campaign lead by Television. We want to use the ‘smooth seduction’ technique with both our product and brand. For example, you have James Bond, a character who symbolises seduction in whatever he does, be it driving a car or talking to a woman. That’s what these perfumes stand for — continuous seduction.
Q] What are your marketing spends and growth targets for Titan in India?
We divide our spends brand-wise. The watches and accessories division invested Rs 140 to 150 cr on advertising this year. As for growth targets, we are looking at growing at 15% this year, as this has been a difficult year from an economic point of view. But typically we have had a CAGR of in excess of 25% for Titan.
Q] Innovations are part of the deal with Titan as you keep coming up with new brands or categories amongst existing brands. What is the rationale behind this?
We are always looking for new ways to market our products. Fastrack is the perfect example, as it took control of the youth market that was quite nascent in India. Titan came out with the Edge watch about 10 years ago, and even today none of the Swiss brands have been able to replicate it. So it remains the slimmest watch in the world. Innovation is a continuous process and we are always looking for something new. With our new perfumes, we worked with French designers to create French quality perfumes that are relevant to the Indian market.
Q] How is India as a market for Titan?
India is our biggest market, and Titan is proud to be an Indian company. We are the fourth largest watch manufacturing company in the world, and hopefully we will move to the number three spot, and eventually number two in time.
Q] What are the challenges faced by Titan Company Limited in the Indian market?
The challenges are the usual, including the slowdown in the economy, but these are temporary. Once they will pass, all Indian companies will be resurgent again. India is the growth story that is still waiting to happen.
Q] In the last few years, the brand has been enjoying its presence in international markets like the UAE, Vietnam, Malaysia and Singapore. How do you go about promoting the product offerings abroad?
It is very much the same way we do it in India. We select our markets carefully — our most recent foray was into Vietnam and it has been a success. We have point distributors in each of these countries, and also invest in advertising. In many of the markets we are in, we are the number one (UAE) or two (Vietnam) brand; so wherever we go, we try to influence the market as much as we can.
Q] How have you been marketing the various brands under Titan digitally?
Titan’s digital play is largely led by Fastrack, our youth brand, because that is the most relevant media to today’s youth. It is a medium that is never stagnant; you have to keep changing and that is what Fastrack is about as well. We want Fastrack to remain ahead of the curve, and stay relevant to the youth. The brand has over 7 million fans on Facebook, probably one of the largest fan followings in the country. We’re also active on Instagram, Pinterest, Twitter, Google plus, etc., and we are also looking at how to make films go viral on YouTube.
Q] Going forward, what takes priority on the agenda of Titan Company Limited?
The agenda is to make our brands stronger, and sharply positioning each brand, which I believe is something that is going to take us further.
Feedback: saloni.dutta@exchange4media.com
Category:
CMO INTERVIEW
Volume No:
10
Issue No:
15