Fasttrack
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Fasttrack

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Fasttrack Presentation Transcript

  • 1. The study of FastTrack
  • 2. The study of FastTrack Represented by: • • • • • • • Shivali Pratibha Bhakti Navdha Chaiteli Nirali Satyam
  • 3. WRIST WATCHES • It is an integral part of the personality of individuals in the present era. • Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item. INDIAN WATCH MARKET • Establishment of HMT as the leading player in the wrist watch segment in the 1960’s, changed the scenario. • Private sector enterprises like Titan, Sonata, Ajanta and Timex were also there.
  • 4. INDIAN WATCH MARKET CONT… • In post liberalization India, the market stood to witness intensive competition between foreign and Indian manufacturers. • The size of the watch market currently is estimated to be around 40 to 45 million pieces annually. • A casual study of the watch market reveals that it is segmented on basis of price, benefits and types of watches. • Accordingly, three segments can be identified here, namely low priced, medium priced, and high priced watches. • Many customers prefer mechanical and automatic watches, while others prefer quartz watches. • Newer segments are also on rise such as ladies watches, children’s watches and gent’s watches.
  • 5. Titan Industries • Titan Industries is the world’s sixth largest wrist watch manufacturer and India’s leading producer of watches. It is a subsidiary of the Tata Group • It exports watches to about 4 continent and 32 countries and other countries esp. Middle east, Asia Pacific and Africa around the world • manufacturing and assembly operations at Hosur, Dehradun, Roorkee and Baddi in Himachal Pradesh and an ECB plant in Goa. • Today Titan had the monopoly in the Indian Watch Market.
  • 6. Development • Jewellery: Tanishq is India’s largest and fastest growing jewellery brand with a premium range of gold jewellery studded with diamonds or coloured gems • Eye wear: Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and has sunglasses under Fastrack brand and prescription eyewear’s. • Precision Engineering: Precision Engineering Division, started in 2002, has become one of the leading manufacturers of Precision Parts for Automotive and Aerospace Industries. • Watches: Titan watch division, started in 1987. It formed a joint venture with Timex, which lasted until 1998.
  • 7. Activities • Titan Industries product line in watch manufacturing division includes watches for all purposes – economy, mood and personality and obviously, for all ages. • Titan Industries classifies its range according to – Occasion - Formal, Dress-wear, Fashion, Sports / Casual, Luxury, Economy and Technology. Brands are – Edge, FasTrack, Nebula, Raga, Steel, Regalia, Bandhan, FLIP and Sonata . • Apart from these products it also offers exclusive range of Jewelery under the brand name ' Tanishq ' and Sporty Sunglasses under the brand name ' Fastrack '.
  • 8. Titan watches : What is your style ? • Titan initially pioneered the concept of " Gifting watches". The ads captured the essence of gifting and along with the trendy music, easily caught the imagination of the market. Products • Titan wanted to play the volume game,So it launched another brand Sonata. Sonata was a huge success because it was a cheap product but at the cost of the mother brand Titan.But then sonata was seprated from Titan.Now Sonata is endorsed by Tata not Titan. • After an extensive marketing campaign ,sub brands like Edge, Steel, Dash, Nebula , Classique, Royale, Fast Track , Raga was launched.
  • 9. Strategy • • Titan pushed the concept of " Matching Watches to Clothes" in the recent commercials Titan also made its presence in the ladies watch segment by a sub brand Raga • Latest innovations The Titan-WWF collection • It is inspired from six endangered species of India to be put on the dials, 13 new designs are already in the vast Titan portfolio.
  • 10. FAST TRACK • In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart. • TITAN Industries launched its Fast Track range of watches for women The watches retail from Rs 995 to Rs 1,950 and are attractively priced. • Its strategy of identifying the segments, sizing the market, and finding ways of penetrating it.
  • 11. Promotions • It means by which firms attempt to inform, persuade and remind consumers directly or indirectly about their product and brands. • Titan for freshness in the brandLaunched FastTrack
  • 12. Targeted Population • Fasttrack was targeted at 20-25 year olds and positioned along the line " Cool watches from Titan". • Then the company found out that the youth in the age group of 11-20 years account for 42% of watch buying in India. • So Titan relaunched the FastTrack brand of watched aiming the target segment of 18-30 yrs old with the baseline " How many you have?".
  • 13. Creative strategy • Informational appeal: It elaborates on product and service attributes or benefits. • Transformational appeal: It elaborates on non-product related benefit or image. • Message source: They use attractive or popular source to achive higher attention and recall.
  • 14. Objective of consumer market survey • To find preference of Fastrack watch in Navi Mumbai • What extra features are wanted by consumers • To find position of fastrack in consideration list of consumers • Recall of Brand Ambassador of Fastrack.
  • 15. Which brand watch do you prefer?
  • 16. Q.2 Which do you think more trendy?
  • 17. Are you familier with Fastrack?
  • 18. What feature you prefer when you buy a watch?
  • 19. Q5. Rating scale for FastTrack: 1.Traditional ----- Modern. 2. Inexpensive-----Expensive 50 50 45 45 40 40 35 Modern 25% 30 25 35 30 50% 20 5 50% 20 75% 15 Tradtonal 10 25% 25 75% 15 Modern 10 5 Tradtonal 0 0 looks looks
  • 20. CONT….  If you area already a customer, were you? SATISFIED NOT SATISFIED
  • 21. CONT….  What Is your opinion about Fast track?  POSITIVE OPINION Its Cool and Trendy but its quite Expensive. Attractive Look and Trendy style. Fashionable and good Sports Watch.  NEGATIVE OPINION Its not good for watches. What Is your opinion about Fast track?
  • 22. CONT….  Complete the sentences When I Choose a brand of watch the first name click on my mind is  FAST TRACK  SONATA  TIMEX  RADO Do you remember the brand ambassador of Fast Track?  JOHN ABRAHAM Do You remember the symbol of Fast Track, draw it?
  • 23. CONCLUSION CONT…. Do You remember the symbol of Fast Track, draw it?
  • 24. REFERENCES • http://www.webchutney.net/titan/titanstories.html • http://knol.google.com/k/anshulgupta/titans-brand-building-andbrand/x50slfw081wz/4# • www.titanworld.com • www.encyclopedia.com
  • 25. Thank You