Titan to cut back on brand building
26 Feb 2009
Titan Industries, the watch and jewellery arm of the Tata Group, intends to cut back on brand building exercises.
The Bangalore-headquartered company plans to focus on tactical advertisements, which will generate immediate sales. The 'theme advertising', which Titan is associated with will now take a backseat. Now, Titan aims at brand-building over a longer period.
Titan's advertising budget this year is estimated to be about Rs 180 crore. In the current financial year, the company has already spent Rs160 crore on advertising. Though the company has not made any cut on the ad budget yet, it expects that the adspend will drop.
Bhaskar Bhat, MD, Titan Industries said that brand-building advertising has long-term impact and at present getting cash from the market was important, hence the change in advertising plans.
