Creative Design

Advertising Agency

                                                

                        TITAN

‘WHAT’S YOUR STYLE’

     

     Syed Hasan                        2333935

     Sushil Rihal                         2307978

            Ahmed Al-Tamimy        2333534

                   Hamid Mahmood                2436177

                   Binti Patel                         2307902

Content Page


Executive Summary

Situation analysis

Titan has 50% of market share in India and is the sixth largest watch manufacturer in the world. After being unsuccessful in targeting the luxury market, Titan decided to set its sights on the younger consumer of 25-35 years old.

Advertising objectives

  • Brand awareness is our main objective and we hope to achieve an awareness growth of 10% over 9 months.
  • We hope to increase sales in 5% over 9 months
  • Increase the percentage of internet users 15% over 9 months

Advertising strategy

This section mainly discusses the concept of our watch, which includes our watch’s competitive positioning, and its lifecycle. Also in this section is the general information regarding our target audience, and what would be possible behaviour of our consumers. Also in this section is the media strategy we are going to use to market our watch accordingly. And finally we discuss the message of our advertising campaign.

Advertising budget

Altogether, we spent £896,500 that was kept within our budget of £500,000 to £1million. In this section we analyse the internal and external considerations for our budget and what we decided to include in the budget is also mentioned. We also analyse what media we could not include in the budget and for what reasons. Also we design a table to simplify our budget and how we spent it.

Testing and evaluation

In this section we explain why we need to conduct market research, and then we identify the pre-test and post-test results of our market research. Then we specify the methodology and other additional costs not included in our budget. And finally we evaluate and conclude our report


Situation Analysis

As Titan is not yet in the UK market, there is no market share recorded however the market share in India is 50% making it a clear leader in that sector. This has been achieved by successfully targeting the middle and upper class segments, which would be a good market to target in the UK. Titan is the sixth largest watch manufacturer after Casio, Citizen, Seiko, Swatch and Timex. The watch that we decide to focus on is in the formal and fashion watch market. Its main competitors in the UK would be Seiko, Sekonda and Swatch.

Titan has set its sights on the younger consumer between 25 and 35years, who want the latest fashion designs at affordable prices. Men have a greater proportion of the watch market as they use clothes and accessories as an expression of personal style. (UK watches market-2003 – Mintel)

Brand Awareness is our main marketing objectives, as we need customers to identify the brand enough to purchase the product. (See appendix)

We found that we could understand the company better if we did a SWOT analysis and a PEST analysis to also find out about the external environment.

SWOT Analysis

PEST Analysis


Advertising Objectives

We feel that these are the SMART objectives that Titan will achieve.

  • Brand awareness is our main objective and we hope to achieve an awareness growth of 10% over 9 months.
  • We hope to increase sales in 5% over 9 months
  • Increase the % of internet users 15% over 9 months

These are realistic and can be measured which is will be done through the post testing.

Primary advertising-

Advertising designed for the generic product category, as opposed to selective demand advertising. i.e. instead of purchasing the dove soap bar, it would become, purchasing a generic soap.

Selective advertising-

Advertising which promotes a particular manufacturer's brand as opposed to a generic product. i.e. instead of advertising Nike trainers in general, simply focusing on Nike shoes.

With regards to our marketing campaign of titan watches from India to the UK, we are going to be using selective advertising, because we have reviewed the range of watches available for purchase on their website, and have decided to simply focus our advertising on one selected item which we feel would be most appropriate.

Direct marketing-

Sending a promotional message directly to consumers Includes methods such as Direct Mail and Telemarketing.

Indirect marketing-

This is an example of sending a promotional message via a mass medium. This would include television broadcast and radio.

To advertise the Titan watches we are going to use indirect advertising, because we believe that our target audience is generally quite broad- appealing to all sorts of consumers, which would allow us to successfully promote the watches on billboards and public transport, so that consumers can actually see for themselves what the item looks like, or if it is similar to the type of products of their choice.

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Market Behaviour

Titan brand values are nearly one-third of our entire watch business. Titans average purchase value has a comfortable lead over rival brands such as Timer and HMT. Average value on a Titan watch sold is Rs 1,100, with Timex and

HMT watches sold at Rs 700 and Rs 500. Other competing international labels such as Esprit, Swatch and Crtizen are restricted to the premium end, have also entered the mid segment, between Rs 1,200 and Rs 3,500.

Tends are the growing role-played by fashion, branding and design. With a gain to get consumers to ...

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