Replace image src location using CSS

You can use a background image

.application-title img {
  width:200px;
  height:200px;
  box-sizing:border-box;
  padding-left: 200px;
  /*width of the image*/
  background: url(http://lorempixel.com/200/200/city/2) left top no-repeat;
}

<div class="application-title">
  <img src="http://lorempixel.com/200/200/city/1/">
</div><br />
Original Image: <br />

<img src="http://lorempixel.com/200/200/city/1/">

Here is another dirty hack :)

.application-title > img {
display: none;
}

.application-title::before {
content: url(path/example.jpg);
}

you can use: content:url("image.jpg")

<style>
.your-class-name{
    content: url("http://imgur.com/SZ8Cm.jpg");
}
</style>

<img class="your-class-name" src="..."/>

You could do this but it is hacky

.application-title {
   background:url("/path/to/image.png");
   /* set these dims according to your image size */
   width:500px;
   height:500px;
}

.application-title img {
   display:none;
}

Here is a working example:

http://jsfiddle.net/5tbxkzzc/