PRODUCT DIFFERENTIATION PARAMETERS

Titan has watches that range from Rs. 1200 to Rs.22995. This is a wide spectrum and it makes one curious as to what nuances differentiate one watch from another. In the construction of watches there are four main parts:

1) The bezel ring with a crystal

2) The case which contains the mechanism, hands and dial

3) The caseback, which is the closure of the container and it helps to make the watch water resistant

4) Metal bracelet or strap

These four components define the watch and the way in which these parts are constructed, the materials used and finish rendered is what causes the difference in price. There are watches that are handmade and hand polished while there are some others that are made in a 5 axis where even the polishing is done by robotic hands. Thus with varying price, you can have many varied outcomes. The thumb rule is that the more expensive the watch is, the more it will celebrate craftsmanship -the craftsmanship of technology or of finishing, etc.

However, there are four external factors which also determine the differentiation within the company and they are as follows:

1) Consumer profiling This is very important for designing the form language of the watch. The desires of the consumer makes a completely different form language of the watch. A watch designed for a traveller would be very different than a watch designed for an athlete. Similarly, a watch designed for a scuba diver would be very different from a watch designed for a person who loves biking.

2) Mechanism The mechanism is the motor that drives the watch. Fundamentally there are three types of mechanisms: Quartz mechanism, mechanical mechanism and the smart module. What is most important is to figure out what functions these mechanisms are going to serve: Would they power a watch that will measure your heart rate and activity, or would they power a chronograph that measures 1/100th of second with a tachymeter function, or would the movement simply be one that is of a watch with only watch with three hands. There are hundreds of mechanisms that can be used modified or customized to define the look of the watch.

3) Design character Considered the designer’s playing field, this is where product semantics plays a very important role - the kind of line, curve, geometry, proportion, texture that is used helps to differentiate one watch from another.

4) Price point Price can define and dictate form language, the kind of module to be used, the kind of finishing rendered, the material that will be opted for and the production methods.