brand extension titan_eye_plus

Titan Eye+BY

SHIKHA GUPTA

Brand Extension Analysis of

Contents Introduction

About Titan Industries Ltd.

Brand Extension of Titan

About Titan Eye+

Eyewear Industry in India

Growth of Eyewear Industry in India

Analysis of the Eyewear Industry

Market Share of Titan Eye+

Market Share of Titan Company over the Years

Market Share of Titan Eye+ over the Years

Analysis of the Titan Eye+

Market Segmentation

Target Segment

Competitors

Positioning

Product Strategy

Pricing Strategy

Place Strategy

Promotional Strategy

Introduction

Manufacturer

Parent Brand

Brand

About the Titan Industries Ltd.Created in 1984, as a joint venture between Tamil Nadu Industries

Development Corporation (TIDCO) and Tata GroupInitial business was manufacturing and marketing of watchesLater, successfully moved into other businesses, such as jewelry via Tanishq

and eyewear through Titan Eye+363 World of Titan outlets, 71 Titan One outlets and 140 Fastrack stores

across the countryKnown for product quality, marketing and advertising campaigns

Brand Extension of Titan

About Titan Eye+The Titan company extended the

category of Titan brand in eyewear segment 2006

300 exclusive stores in over 100 cities

Products include frames, ready readers and sunglasses for all age groups and in various styles and designs

Reputed for providing quality eye testing with highly-trained professional staff

Eyewear Industry in India

2009 2010 2011 2012 2013 20140.00

20,000.00

40,000.00

60,000.00

80,000.00

100,000.00

120,000.00

140,000.00

160,000.00

180,000.00

Eyewear Market in India (INR mn)

Eyewear

Growth of Eyewear Industry

2011-12 2012-13 2013-1416.00%

16.50%

17.00%

17.50%

18.00%

18.50%

Growth of Eyewear Industry in India

Eyewear

Analysis of the Eyewear IndustryEyewear industry in India continues to grow from 2008 to 2014 majorly due to:

Increased use of contact lenses and sunglasses among consumersUse of cosmetic lenses and sunglasses as fashion accessories as consumers are becoming

increasingly fashion consciousIncrease in consumer discretionary spending due to rising income levels

These trends are set to continue in the forecast period, the eyewear industry is projected to grow by a 7% CAGR at 2014 constant prices.International brands like Essilor, Crizal and Acuvue continued to dominate eyewear market in India.The eyewear industry is highly fragmented with majority of the players occupying small market shares. The largest share is occupied by local retailer shops.

Market Share of Titan Eye+

9%4%

4%

2%2%

2%

76%

Market Share in 2013

Essilor International SACarl Zeiss AGLuxottica Group SpAIndian Optics Pvt LtdSafilo Group SpATitan Industries LtdOthers

Market Share of Titan Company over the Years

9%4% 3

%

2%

2%2%

78%

2011

9%4% 4

%

2%

2%2%

77%

2012

9%

4%

4%

2%

2%2%

76%

2013

9%4%

4%2%2%2%

76%

2013Essilor International SA Carl Zeiss AG Luxottica Group SpA Indian Optics Pvt Ltd Safilo Group SpA

Titan Industries Ltd Others

Market Share of Titan Eye+ over the Years

8%4%

2%

2%

1%

1%1%1%

80%

2011

9%4%

2%

2%

1%1%1%1%

79%

2012

9%4% 2

%

1%

1%1%1%1%79%

2013

9%4%

2%1%1%1%1%1%79%

2013Essilor Carl Zeiss Suprol GKB Opticals Ray-Ban Hoya Titan Eye+ Lawrence & Mayo

Others

Analysis of the Titan Eye+Titan Industries is ranked sixth in spectacles and eyewear overall in 2013 in India with two brands of Titan Eye+ and Fastrack.The market share has remain constant at 2% from 2011-2013The market share of Titan Eye+ also has been constant with a percentage share of 1% from 2011-2013.

Market SegmentationThe market can be segmented on the basis of:Age- Kids, Youngsters, Middle Age and Old GroupGeographic Area- Metros, Class-I cities, Class-II Cities, Semi-Urban and Rural AreasPrice- Low, Medium, HighUsage- Medical Needs, FashionPersonality Type

Target Segment

Age- Youngsters, Middle Age Geographic Area- Metros, Class-I cities, Class-II CitiesPrice- Medium, AffordableUsage- Medical Needs, FashionPersonality Type- Style Conscious

CompetitorsUnorganized Sector is the biggest competitorInternational competitors:

Essilor International SACarl Zeiss AGLawrence and Mayo

Domestic competitors:GKB OpticalsVision Express

PositioningCompetitive Frame of

Reference

• Frames• Lenses• Sunglasses• Contact lenses• Ready readers• Accessories

Points of Parity

• New design collections

• Wide variety of Materials used

Points of Difference

• Zero-error testing• Quality of

manufacturing• Differentiated and

stylish frames• Sunglasses backed by

high-tech lenses• Browse, touch and

feel display

Product StrategyProducts include frames, lenses, sunglasses, contact lenses, ready readers,

and accessoriesTitan Eye Plus manufactures some of the most innovative optical lenses Known for quality of manufacturing99% clarity of the glasses and lensesCaters to all customer groups through different types of products:Enigma focusing on Indian womenTrendz focused on middle-aged customersAdreno is a sports collection

Pricing StrategyPrice is affordableThe price range varies from Rs495-

4495

Place StrategyIndia’s largest optical retail chainExclusive Titan Eye Plus Showrooms 366 retail outlets, 136 towns all

over India

Promotional StrategyCampaign on “affordability,

accessibility and availability”Positions eyewear as a style

accessory and not just as a functional product.

Free, zero-error eye testing at storesFriendly staff and quick turnaround

time Make Hearts Beat campaign to

showcase the friendly staff and quick services of Titan Eye

Thank You!