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Fastrack Marketing Presentation

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  • 1. Marketing Presentation Roll-601 Batch 2014
  • 2. Introduction• Name of the Brand: Fastrack• Name of the Parent Company: Titan• Year of Establishment: 1998
  • 3. Industry Preview • Market Worth : Rs 5,00,000 • Growth Rate: 15% – 20% • Market Penetration: 37%• Students constitute the largest segment: 30% of the total sales • Organized Players control 40% the market.• Unorganized Players constitute the rest of the 60% of the market
  • 4. Porter’s Five ForcesSupplier Buyer Power Power Barriers to EntryDegree of Threat of Rivalry Substitutes
  • 5. Porter’s Forces (Contd)• Supplier Power: – No strong suppliers – Lack of bargaining power – Rise for China, Taiwan as low cost suppliers• Buyer Power: • Price Sensitivity • Buyer’s Preference
  • 6. Porter’s Forces (Contd)• Degree of Rivalry: – Increased number of firms – Low switching cost – Strategic stakes are high• Degree of Rivalry: – Cluttered market – Lack of Differentiation• Threat of Substitutes: – No close substitute
  • 7. Company Name: TitanCompany OverviewSWOT AnalysisBrand Portfolio
  • 8. Company Overview• Launched on 1984• A joint venture between Tata Group and Tamil Nadu Industrial Development Corporation• India’s largest watch brand with 65% of the organized watch market• World’s Fifth largest integrated watch manufacturer.• Awarded No:1 Brand in the Consumer Durables category in the Brand Equity Survey by The Economic Times• Turnover for year 2010-2011: 6520.89 Crore
  • 9. SWOT Analysis - Titan
  • 10. Strength• Large network of exclusive stores and service centres• High Top of the mind recall, especially for the Mid market segment• Different sub-brands under the brand Titan have been successful in their positioning based on Demographic segmentation• One of the world’s top five and India’s biggest watch manufacturer• Titan watches are exported in over 40 countries
  • 11. Weakness• Premium category Titan brands like Xylys have been camouflaged by the Titan Brand Image of being a mid-market player• Haven’t penetrated the global market as some other international watch makers Opportunity• India is an under penetrated market for watches• Global expansion and tie-ups with global watch and Jewellery brands
  • 12. Threats• Broad Target segment may lead to lack of focus in Brand strategy• Stiff Competition faced by foreign brands, particularly in the premium segment
  • 13. Brand PortfolioName of Brand Segment Average Price Target Audience Titan Premium Rs 1100(approx) Upper Middle Class Sonata Mass Market Rs 550(approx) Lower Middle Class Fastrack Youth Rs 850(approx) Teenagers and College Students Xylys Ultra Premium Rs 15,000(approx) Upwardly Mobile Professionals
  • 14. Brand: FastrackProduct RangeSWOT AnalysisCompetitor AnalysisStrategies
  • 15. Brand Fastrack• Launched in 1998 as a sub-brand for watches in the youth segment when Timex broke off Titan as an independent company• Spun off as an independent brand since 2005 under the flagship of Titan• Contributes the largest share of profit to titan i.e 30-40%• Has evolved into a fashion accessory brand with entry into product segments like sunglasses, bags, belts etc.
  • 16. Product Range Current• Watches• Bags• Sunglasses• Belts• Wallets Proposed• Motorcycle Helmets• Bicycles
  • 17. SWOT Analysis: Fastrack
  • 18. Strength• Good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centres across India• High youth connect – Positioning as a youth stylish brand• Fast changing designs to keep up with latest trends• One of the most trusted brands in India• Excellent advertising and brand visibility connecting with the youth• Has a diverse portfolio of watches, sunglasses, bags, wallets etc
  • 19. Weakness• Products have a short life due to changing trends – Adds to the cost of production• Limited global reach despite being a popular brand Opportunity• Fast growing youth segment presents growth opportunities• Global penetration would help brand grow and target youth worldwide• Tie-ups with fashion houses and special schemes for youth
  • 20. 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
  • 21. Competitor Analysis
  • 22. Major Players in Market Other than Titan/FastrackGeneral Indian Competitors of Fastrack• HMT • Timex• Timex• Maxima • Casio Foreign • Swatch• Cartier• Omega• Piaget• Gucci• Casio• Citizen• Tag Heuer• Espirit
  • 23. Competitor 1: Timex • Largest selling brand in USA and Canada • Lowest cost watch manufacturer of the world • Entered India in collaboration with Titan, broke away in 1998 • Has launched a new brand named Helix targeting the demographic segment of 18- 24 year old
  • 24. Competitor 2: Casio • Japan based company • Products include calculators and musical instruments • Market leader in calculators with 90% market share, strong presence in digital watch market • Recent positioning focuses on low end watches
  • 25. Competitor 3: Swatch • Swiss brand launched in 1983 • High brand equity because of the Swiss heritage • High tech, highly accurate and a high prestige value attached to the brand • Official time-keepers for many high profile events including Olympics • Recently started focusing on the upwardly mobile youth segment.
  • 26. PoD(Points of Disparity) & PoP (Points of Parity) • Price and Placement – Fastrack and Timex focus on the middle segment is mid-price ranged watches while Timex focuses heavily on the low end watches and swatch targets primarily the high end models – Fastrack targets the urban spectrum of college and high school going population as Helix from Timex aims to do while Casio is targeting the tier II and tier III cities.
  • 27. PoD(Points of Disparity) & PoP (Points of Parity) (contd) • Communication and Brand Image – Fastrack has already established itself as a ‘cool’ brand and associated the brand with the young and free spirit. – Helix plans to tap into the same market and has launched 360* communication campaign promoting its image as adventurous. – Both Casio and Swatch lack a good media presence but Swatch has a certain ‘snob value’ attached to itself whereas Casio is simply invisible
  • 28. StrategiesProduct StrategyPricing StrategyDistribution StrategyPromotion Strategy
  • 29. Product Strategy• USP : Youth Appeal• Positioned as Casual Wear• Seen by the audience as Fashionable and Trendy• Product uses Funky, Adventurous and Cool Colors• Out-of-the box designs
  • 30. Examples of Fastrack Watches
  • 31. Pricing Strategy• Midlevel Pricing for Urban Audience in Tier I and II cities• Products range from Rs 650/- to Rs 3995/-• Prices targeted towards the youth and towards the image of fashion accessory rather than just a timekeeping machine Distribution Strategy• 11000 Titan Dealers spread across 2500 towns• 55 Exclusive Fastrack Stores/Kiosks in 22 towns• 745 Service Centers in 345 Towns
  • 32. Promotional StrategyTerms associated with Brand Fastrack: Trendy Colorful Adventurous Provocative Hip Cool Funky StreetSmart Fast
  • 33. Promotional Campaigns• How Many Do You Have? Traditionally seen as an one time investment Fastrack surprised the market by a promotional strategy promoting multiple buying. Attractive pricing and a persuasive campaign actually changed the general market perception Now watches are seen more in terms of a fashion accessory than timekeepers
  • 34. • Move On The second and current campaign targets the fast moving and always restless youth Ads are provocative, bold and have high appeal among the college going population
  • 35. Brand Ambassadors Genelia D’Souza
  • 36. Virat KohliThe Brand Ambassadors represent the brand image ofFastrack i.e Bold, Adventurous and Raring to GoThey also have a mass following and immediateconnect with the Indian Youth
  • 37. Future Plans• Titan targeting three-fold growth in revenue in 5 years to Rs. 14,000 crore making us a 3 billion dollar company.• Fastrack is an important part of the expansion plans, targetting 880 Cr turnover for the fiscal year 2012-13• Plans to add 200 more exclusive Fastrack showrooms• Tapping into the huge opportunity in International Markets
  • 38. Conclusion• Titan is the market leader in the Wrist Watch Market, India• Fastrack one of its most successful and profitable brand• Even after the entry of other players, Fastrack in its segment remains largely un-threatened and expansion of its product line shall ensure that it remains a strong player in the coming decades
  • 39. Thank You