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Fastk final Fastk final Presentation Transcript

  • Presented by: Anamika Gupta
  • Fastrack at a glance  Parent company - Titan Industries Limited (Tata Group)  Product category- Watches, Bags and Accessories(Wallets & Belts)  Sector- Lifestyle and Retail  Contributes 25% sales revenue in Titan’s revenue  Tagline/ Slogan- Move on  USP- Youth Appeal
  • Origin  Fastrack was launched in the year 1998 as a sub-brand of Titan  As an independent brand, its establishment was done in 2005  Carve a niche for itself in the youth accessories market  Entered the market saturated with International designer labels –like Citizen, Swatch, Casio, etc  First Indian brand segmented for youth
  • Market Scenario  Size of the current watch market is 40-45 million piece annually  Average growth size is 10-15%  Fastrack sells – 3 million watches annually  Fastrack 2011 revenue – Rs 500 crore Source:
  • Competitors Wrist watch segment  Swatch  Casio  Timex
  • Marketing Mix Promotion- 360 media campaign Place Multi-brand outlet, Near colleges Retail stores (110 stores and presence in 500 retail outlet) Price Watches-499 rs-2995 rs Bags700 rs-2000 rs Sunglasses-700 rs- 1500 rs Accessories-400 rs- 1000 rs Product Watches Sunglasses Bags Youth accessories
  • Fastrack’s product wise contribution in terms of percentage in its Revenue (2011) Watches, 50% Sunglasses, 10% Accessories(bga s,belt,wallet etc), 40% Source: The Strategist, Business Standard
  • SWOT analysis STRENGTHS •High youth connect •Fast changing designs to keep up with latest trends •Good Distribution Network •Diverse Portfolio WEAKNESS •Products have a short life due to changing trends •Limited global reach despite OPPORTUNITIES •Fast growing youth segment presents growth opportunities •Global penetration would help brand grow THREATS •Youth segment is price sensitive • Entry of foreign players has led to tough competition • With lots of options available, brand switching is quite high
  • STP Segment • Trendy and colorful lifestyle accessories Target • Mid Premium Urban youth Positioning • Youth brand for stylish youth owning watches and accessories
  • Positioning Positioning -1998  1998-Fastrack was promoted with the slogan "Cool Watches from Titan.”  Launched as Titan Fastrack  The design were trendy and basically targeting youngster between the age 17- 35 year  The revenue in 2001-2002 was worth Rs 25crores
  • Positioning-2003-04  2003-04- targeting the executive segment as well as the casual watch segment  The brand sales came down to Rs 23 crore  Company ‘s growth stagnated
  • Positioning 2005  ‘Titan Fastrack’ became ‘Fastrack’  Repositioned the Fastrack as brand for youngster and teens  It come up with slogan ‘move on’ and ‘how many you have?’  Brand extension in Bags , sunglasses and belts.  The brand sales zoomed to Rs 35 crore* *business Standard 2011
  • Brand Identity Extended core Brand As Product 1. Youth Accessories_ 2. Stylish & Trendy 3. affordable 4. Trendy Stuff for fashionable youth 5. Youngsters & teenagers 6. India Brand as Organization 1. trustworthiness 2. Local Brand As Person 1. Excitement 2. friendly Brand As Symbol 1. a stylish leopard shaped Logo 2. India’s first youth oriented watches & accessories brand
  • Performance Dimension  A smart combination of edgy design and value pricing  There are over 350 designs available for youth within range of Rs 500 To 2995.  The part of watches are outsourced .  Products highly are durable which gives the warranty of one to two year  Trendy, funky and stylish  The range starts from rupees 449 and ends at rupees 4000. * *
  • Imaginary Dimensions Users Profile-  targeting youngsters & teenagers,  Age:16-25  Gender: Male & female both  Psychographic: Cool, Carefree and joyful youth  Personality & values-Excitement
  • Judgment Dimensions  Quality: Justified cost and excellent after sales services prove the commitment Technically Competent  Band Credibility:-Trustworthy  Brand superiority: Innovative and trendy youth design, Indian Brand and affordable
  • Feeling Dimension Fun Excitement
  • Current Strategies of the company  What should be the next thing after “move on”??  Brand Extension-Planning to extend in motorcycle Helmets and Footwear  Entered into unorganized segment e:g bags, wallets and belts  Social Media Marketing  Theme based designing: army range in Watches and summer and beach range in bags
  • Theme based designing Army Range Biker’s Range
  •  The company recently increased its personal accessories space with a countrywide launch of its eyewear brand  There are over 350 designs available for youth within range of Rs 500 To 2995  Titan Fastrack seeks to bring in a new dimension to the Indian watch market
  • ADVERTISING STRATEGY  The whole advertising is covered by media such as Hoarding, POP, Television Ads, Newspaper & Magazines.  As the advertising campaign is carried on through different manners the young generation is attracted toward the brand.  The key role is being done by Television Advertisment.  There are several brand ambassadors for fastrack like Genalia D’ Suza and Virat Kohli
  • Future Prospects  Fastrack will also soon seed a project to design and launch bicycles  Popularity will increases  Competition will increase because online retail portal  Planning to open 98stores in tier 2 and 3 tire cities  Brand awareness will increase due its social media campaign.  The next focus would be on Tier-II and III cities.  Fastrack will evolved itself as umbrella brand
  •  the company will also enhance store space from the current 500 sq ft to about 700 sq ft.  expanding the number of retail outlets to 130 this fiscal and doubling that number during 2013-14  The company will also be investing heavily on increasing its physical presence both in terms of retail network and ads