1. PRODUCT PORTFOLIORedefining the market in fact is pretty much core to Titans success since its inception in 1987.At that time, the watch market comprised primarily mechanical watches, and the government-owned Hindustan Machine Tools (HMT) was the only significant branded player. HMTswatches stood for accuracy and robustness -- and for the consumer, the sturdy watch was just afunctional time-keeping device.Titan entered the market with two key differentiators: One, it brought in quartz watches, which itpromoted aggressively, and two, it introduced the element of style -- which until then wasmissing in this segment. There were other firsts, too, that Titan introduced in the watch market: Itushered in a completely new retail experience, brought out advertising with aspirational valueand offered after sales service in a showroom environment.Among the organized players, Titan leads the pack with a lions share of around 11 million unitsacross its watch portfolio of four brands: the flagship brand Titan (addressing the mid- andpremium segments), Sonata (the budget segment), Fast Track (the youth segment) and Xylys(Titans top-end, Swiss-manufactured brand). The second-largest branded player in the Indianwatch market is Timex, with a market share of around 7%.The width of Titan industries include Eyewear, watches, Precision Engineering and Jewellery.Widthof titanindustries
2. Length of Titan WatchesSonata:This is Titan‟s most basic range, offered reliable, everyday working watches reasonably pricedbetween Rs 350 – Rs 900. it has a brand image of being reliable and of confidence among thecustomers.Edges:These ultra-slim watches are marketed as being “Truly World Class” which stands for thephilosophy of "less is more. This offering from Titan is more sophisticated and elegant lookingwatches for the urban class of people who are more image and status conscious .Insignia:It is an eloquent fusion of design, craftsmanship, and precision engineering and is priced betweenRs. 4000 – Rs. 7500. An Insignia is 10 times more complex than a regular Titan watch,incorporating the best of materials, high graded anti-allergic steel, scratch resistant sapphirecrystal and special hard gold plating.Nebula:Marketed as the “Jewellery collection from Titan”, Nebula is targeted towards affluent men whoconsider wearing gold jewellery. It is basically a symbol of status. Magical blend of mostcoveted of metals, Gold and craftsmanship. It is marketed as a “watch for discerning individual”positioned as a gold jewel.Regalia:It is positioned as eye catching and a magic in gold for the customers.The watch uses the uniquecombination of gold and bicolour looks representing the essence of dress-wear. In India, gold-look is associated with status and is basically for formal look .It is targeted towards affluentbusinessmen.Royale:“Collection of designs that suit everyday wear”. Royale with its gold plated case and goldenstraps represents a formal every day watch targeted towards the employees who can‟t affordmultiple watches for occasions. The watch includes designs from simple to dressy eveningwearswitching between informal and formal looks based on the place and situation.
3. Titan Fast TrackEarlier Fastrack was targeted at 20-25 year olds and positioned along the line "Cool watchesfrom Titan". Then the company found out that the youth in the age group of 11-20 yearsaccount for 42% of watch buying in India. Based on this insight, the company relaunched thebrand lowering the target segment to 18-30 year olds with the baseline “How many you have?".Again the strategy aimed at promoting the multiple watch owning concepts. The current taglineis “Move on”.Fastrack also launched a range of fashion accessories like Sunglasses trying to be a lifestylebrand. The Fast Track personality is that of a young, energetic, achievement oriented person,who seeks to express his or her individuality by braking free from constraints of formalenvironment, without being a rebel. In 2005 Fastrack was repositioned as a separate entitywithin the Titan family. The Fastrack range is seen as being contemporary, sturdy and reliable.The advertising, packaging and merchandising of this range is young, vibrant and „cool‟RagaThese are exclusive watches with design elements which is feminine and sensuous accessory fortodays woman. An exciting collection that incorporates traditional Indian motifs, with suchinnovation as interchangeable straps and a unique three in one watch. Designed exclusively foruse with Indian women‟s formal wear such as sarees and salwar kameezes, this range is truly oneof a kind and has no competitors in its segment.OctaneTitan has launched the Octane collection of chronograph, multifunction and retrograde watchesfor the urban man. The range is described as blending style and technology.Depth of brandsTitanwatchesRaga Nebula fastrackAdventureHiphopArmyDenim…etcHazel collectionRaga-divaRaga shimmerHazel collectionRaga-divaRaga crystalNebula zeusDuet collectionNebula celesteRaga-divaRaga crystal
4. Product qualityProduct quality measuresTitan manufactures its own watches in a fully Integrated Manufacturing facility and fiveassemblyunits in India Because Titan manufactures 80% of its own watches, the quality standards are highand controlled through every step of the manufacturing process Titan‟s engineering expertise isone of the best in the world and holds the record of making the slimmest watch movement andwatch in the worldCertified under ISO 9001 in Dec.‟94ISO 14000 certification in 2002TS 16949 certification in Feb „05The testing facilities titan offer include in circuit testers, automatic online inspection equipment,solder thickness measuring systems and various other functional units. They are also bestowedaward for excellence in total productive maintenance. And ELCINA-DUN AND BRADSTREETaward.Worldwide guaranteeIn the process of manufacture, each component of Titan has been subjected to a series of strictquality tests. We are therefore able to guarantee the watch against manufacturing defects for aperiod of Two years.To facilitate innovation, we opt for external expertise from leading consultants like McKinsey,Quadra and Interbrand. The cutting-edge business excellence tools such as Tata BusinessExcellence model based on the Malcolm Baldrige Criteria for Excellence, total qualitymanagement, 360-degree feedback process and benchmarking.The innovative technology combined with unique, simple yet stylish designs. Their durabilityand stellar performance under various environmental conditions not only makes them to be invery high demand, but it also makes them stand out as the wrist watch for every man, womanand sportsman either in formal and casual wear.
5. Branding of titanBrand Brand Ambassador Tag LineTitan Brand Aamir KhanSonata Mahendra Singh DhoniFast Track Genelia D‟Souza “How Many You have”Raga Gul Panag, Rani MukherjeeKatrina kaifUnveil the real you. Be moreXylys Farhan Akhtar,Rahul bose Xylys(Swiss Mode)Nebula - “ The Jeweler‟s Collection”Branding of competitorsBrand Ambassador Target Customer Customer PerceptionRolex Vijay Amritraj Executives, corporate people Quality product with reliabilityTagheur Shahrukh khan,Priyanka ChopraYouth, adventurous lovingpeople, and youngentrepreneursPerformance, elegance andsportsmanshipOmega Abhishek Bachchan,Sonali Bandre,George ClooneyYouth, stylish people Fulfil emotinal and artisticneeds, lifestyle, complicatedproductSwatch Mainly youth Luxury, high value andsophisticated productCasioEdificeCo sponsor ofFormula oneMainly target youthparticularly motor sports fanUpper middle class youth- highvalue stylish and sportyHelix Timex Kangana Taunat Youth in the age range 18-25 Affordable, hip ,stylish product
6. Packaging: titan pocket watchTitan source a variety of raw materials such as stainless steel, tool steel, leaded brass,engineering plastic, tools, consumables, case components and specialty movements for our watchmanufacturing operations.The straps are made of polyurethane and the cases are ABS (acrylonitrile butadiene styrene),making the watches more flexible, fall resistant and water resistant. Our global sourcing andeconomies of scale give us a significant price advantage and enable us to offer an easy entry forconsumers to the branded world at lower price point.The pocket watch package is an opulent, classy and well-crafted teak box complete with suedelining. One particular example can be Bandhan watches. This collection augurs timeless bondthat unites a man and a woman. Its a perfect gift for the wedding couple or someone celebratinga special anniversary. The Bandhan limited edition pair watch set from Titan. complements theunique relationship that is forged in heaven. The Bandhan pair of watches comes in aninnovative new box adorned with traditional and auspicious wedding colors. The BandhanCollection is available in both leather straps and gold bracelets and is presented in uniquelydesigned packaging.Product service salesCustomer ServiceAt Titan Industries, we have built relationships and forged lasting bonds with our customers,employees, shareholders, network of business associates, and suppliers.With our futuristicdesigns, we created a desire in the minds of our customers and offered them accessories forevery occasion. In a small way, we have been a part of all their celebrations. „Customer First‟ -an initiative driven by the company is an embodiment of the customer-focused culture that isimbibed from the very beginning.What to expect at Titan Service Centers:1. Quick Response2. Quick & Quality repairs3. 6 months repair guarantee4. Service billing at Watch Care Centres.5. Titan gift voucher acceptance at Watch Care Centres.6. Credit Card acceptance.7. Wide range of watch accessories.
7. 8. Home delivery of watches at nominal cost at selected outlets.9. Repair of all Titan watches10. Exchange offersService OutletsToday, the Titan portfolio has over 60% of the domestic market share in the organized watchmarket. The company has 24X7 exclusive showrooms christened World of Titan, making itamongst the largest chains in its category backed by 650 after sales−service centers. Thecompany has a world−class design studio that constantly invents new trends in wrist watches.With over 650 showrooms and 12,000 dealer-outlets, they have the largest retail network inIndia. Recently, apart from adding 60 stores (which would be a mix of World of Titan, TimeZone and Sonata stores), the company is also planning to look at new formats, such as setting up20 Fast Track kiosks in malls across the country. These kiosks are targeted to draw attention ofyoung consumers who usually walk into malls for window-shopping.Over 311 exclusive „World of Titan Showrooms‟Over 665 retail stores all over IndiaOver 650 after-sale-service-centersProduct Life CycleIntroduction Stage: ZoopGrowth Stage: Nebula, Raga(beginning of the stage),fastrack (towards the end of thegrowth stage),xylys
8. Maturity Stage: SonataDecline Stage: AquraIntroduction Stage- ZoopIt was launched in 2010 to cater to the kids section . Zoop watches are designed keeping the littleconsumers in mind and taking into account their point of view on what they want in a watch asopposed to an adult‟s view on kid‟s watches. there is no competition in this section . titan istrying to create a brand recall in this segment amongst kids below the age of 12 years as eachwatch is designed keeping in mind the playfulness, vivid imagination and the cool attitude oftodays children.Growth stageFastrack – is at the growth stage as the company is being fighting with the new entrants likeTimex-Helix and with the wide acceptance by the customer base its being easy for them to addnew distribution channels and retail outlets. As fastracks new strategy they are also planning tolook at new formats, such as setting up 20 Fast Track kiosks in malls across the country. Thesekiosks are targeted to draw attention of young consumers who usually walk into malls forwindow-shopping.Raga – it is basically at the beginning of the growth face . though this an exclusive range of titanand it faces no direct competition at this section. It is basically percieved by women segment asan accessory.OctaneOctane represents the entirely male and modern side of Titan and is positioned firmly on the“Speed” angle. The watch is targeted at young males residing in metros and mini-metros, whoare likely to be professionally qualified, junior to mid level executives.Key competitors in thissegment are Timex (Chronographs and SLX series), Citizen Eco Drive and designer brands likeGiordano, Police etc.XylysIt is at a growth stage as it is seen that watches are no longer seen as a utility by the customersthey are more of a fasion statement and the youth and the customers are evovling . in thissegment xylus faces a tough competition with all the international brands and swiss watches likethe swatch, tissot . also this segment has large dominance of the brand image which will requirecontinous innovation to sustain.
9. Maturity stage - SonataIn the maturity stage, the market approaches saturation. There are number of competitors whichis faced by sonata . also the customer is evolving and the basic design of the sonata products nolonger attracts the customer . They now basically cater to the rural segment which is a very smallmarket with negligible profit.Decline stage- aquraThe sales volume is at a decline of the brand aqura. The profits have dimished and also theproduct has no brand awarness among the customers because it was the first brand which waslaunched by titan in 1989 trendy, colourful, smart and affordable plastic watches for the youth.For further analysis we have chosen Fastrack.Background of fastrackTimex had entered the Indian market through a joint venture with Titan and which was theiroffering for the youth market. When that JV broke off in 1997 and Timex went independent,there was a gap in Titan‟s portfolio and it only made sense to fill that need through their offering.Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack.Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and theassociation was strong. They used the jazzy version of the Mozart tune, which is Titan‟ssignature tune. So, the link with Titan was very strong. When they launched, they targetedpredominantly the early jobber 23-30 year-old male executive. It was only a year or two laterthat they launched a line for women.Re-launch of the brandThey took off and did well in the start but started stagnating in 2001-2003, and that‟s when theywent for a reality check. Titan had simultaneously launched the steel collection, which was anattempt to contemporize for a Titan audience. But what was happening was the collection interms of looks, price point and consumer buying behavior was very similar to Fastrack, includingadvertising. The parent brand needed to continue in its endeavor to keep it contemporary andhence repositioned Fastrack to younger audience in sub-25 range.Awareness of Fastrack was very low and was linked to Titan. There was no independent identity.Research had also shown that the fact that it had the backing of Titan was a positive assurance.However, kids didn‟t like to be serious and sober like their parents. Fastrack needed to breakaway and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identityand also removed Titan from the upfront association in the logo. They however, kept it at the
10. bottom, saying it‟s a Titan product. This helped carry the assurance of the trusted Titan brand.They also stopped using the Mozart tune in advertising.Fastrack was launched with new products, a new identity, new advertising and a new logo inJune 2005. The year took off so well that they ran out of stock very quickly and ended the yearwith a 150 per cent growth and the demand was growing continuously. Next year, they recordedanother 100 per cent growth.When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they havegrown almost ten times of that over the last three years. Fastrack has a presence in over 6000outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channeldistribution network which covers the 228 strong World of Titan Network, 122 Large FormatChain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch& optical outlets. Fastrack is actually among the few brands where people come asking for thebrand. They have adopted a fashion based strategy, where they launch about 3-4 collections in ayear in both categories. Collection-based strategy has helped them very well.Fastrack, in it‟s journey to being a fashion accessories brand has expanded it‟s portfolio to nowinclude not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, itnow has enough categories to open a fashion accessories store – and that‟s just what they‟vedone!Fastrack was launched in 1998. The brand was aimed at the youth segment (15-25). The brandwas promoted with the slogan "Cool Watches from Titan "Essentially Fastrack was a sub-brandendorsed by the Titan Brand. In most of the campaigns , the brand was promoted as TitanFastrack. The brand was targeting young consumers who were moving towards the competitorTimex. It was during this time that Timex and Titan parted ways.During 2003-04, the brand went in for a repositioning exercise targeting executive segment aswell as casual watch segment. It was a suicidal experiment. The brand sales came down to Rs 23crore. The change in positioning did not fit well with the brand. The consumers were not willingto pay Rs 1200-2700 for a watch that did not have the executive image.It was in 2004 that Fastrack launched its range of sunglasses. The move was made after aconsumer research which showed that mobiles/deo/sports shoes and sunglasses are popularaccessories in the purchase list of youngsters. And Sunglasses fitted perfectly as a brandextension for Fastrack.For the sunglasses, the brand roped in the youth icon John Abraham as the brand ambassador.The celebrity fitted well with the brand. Taking a cue from the fact that most of the TG forFastrack owned a bike, Fastrack launched a bikers collection which again is a classic example ofconsumer-centric product innovation.
11. BenefitsThe Fastrack Digital range offers the customer a functional watch that is also attractive. Thedigital watch has a “techno-geek” image, but Titan seeks to differentiate its offering on the basisof superior style and attractiveness.core brand valuesFashionable and trendyAffordable PricingFashion accessory for the youthProduct QualityEarlier fastrack was known for its steely look giving it a sturdy and long lasting persona.Another advantage for this brand is the freshness that the agency had bought in itscommunication. Most of the Fastrack ads have been refreshing. The brand had adopted a 360degree approach in its communication and it is an example of a brand which had used Socialmedia to it‟s advantage.Benefit Positioning:The Fastrack Digital range offers the customer a functional watch that is not onlyattractive but is also economical. The digital watch has a “techno-geek” image, but Titan seeks todifferentiate its offering on the basis of superior style and attractiveness.User Positioning:The Fastrack range is seen as being cool ,trendy and reliable. Theadvertising, packaging and merchandising of this range is young, vibrant and energetic.New logo and tagline - “Be More”Beyond styleNow, Titan wants to move from style statements to personality statements. According toHarish Bhat, chief operating officer, watches, Titan Industries, a watch ought to denote thewearer‟s mood and personality. “With the explosion of options in a person‟s life, our coreconsumer is changing. And to keep up with them, Titan has evolved too,” he says.
12. On the adoption of „Be More‟, Bhat says that that statement is supposed to denote theaspirations of consumers to make more of their lives and be whatever they want to be. “Thewatch allows for such imaginative travels,” he says.Co-brandingFastrack- Radio One 94.3 FMIn a move to attract youth and promote Fastrack, the watch and sunglass brand from TitanIndustries, the company partnered with Radio One 94.3 FM, and for a day, rebranded thechannels name as „Fastrack 94.3 FM – the station for the move-on generation.‟This saw contests and promotions revolving around Fastrack‟s latest theme of „Move On‟integrating with the radio station‟s programming. Radio One 94.3 FM (a Mid-Day Multimediaand BBC Worldwide venture) also featured programmes around the theme such as „favouritedump lines‟ and „tips to move on‟.Fastrack- MTvHuge expenditure was spent on advertising of brand promoting to youth. For brand buildingfastrack sponsored many college festivals. This helped company in gaining popularity in youth.It also carried out co-branding exercise with youth brand MTV. The new logo and new watchestruly presented picture of younger avatar of fastrack.LicensingWith a license for premium fashion watches of global brands, Titan Industries repeated itspioneering act and brought international brands into Indian market. Tommy Hilfiger and HugoBoss, as well as the Swiss made watch Xylys owe their presence in Indian market to TitanIndustries.In addition, the company provides sunglasses under its Fastrack brand; and prescription eyewear,such as lenses and contact lenses. It sells frames, sunglasses, and accessories of proprietarybrands and other premium brands, as well as provides optometry services The company providesits watches under Titan Edge, Titan Raga, Nebula, Sonata, Xylys, and Fastrack brands. It alsomarkets brands, such as Tommy Hilfiger, Hugo Boss, and FCUK under a licensed agreement.
13. Mutlibrands under fastrack –Line EXtentionTitan Fastrack Campus WatchesThe Titan Fastrack Campus watches have interesting features and styles like washable Velcrostraps with inbuilt analogue compass. The collection consists of a carabineer-watch designed tochange the definition of a watch as a wrist accessory. The Titan Fastrack Campus watches havebeen inspired from mountaineering and rock climbing gear. This watch hangs from the belt loopwith carabineer clasp. The crystal guard on the mens watches protects the glass and the case.The dials have patterned luminescent ink fill on the dials allowing you to see the time even in thedark.Titan Fastrack Digital WatchesThe Titan Fastrack Digital watches come with 22 designs in four series. The collection has awide range of style, from the simple classic to the latest space age looking digitals and thefuturistic looking ana-digi model. The range of fashion digitals come in contemporary wristhugging cases with oversized displays and features that include countdown timers, chronographs,lap timers, hourly chime, alarm and Hi-light glow.Titan Fastrack Watches for WomenThe Titan Fastrack Watches for women has been targeted for women aged 18-30. It is a fashionbrand to match the aspirations of women who would want an Espirit but at an affordable price.The trendy collection of womens watches in 20 styles showcases the latest in internationaldesign and materials, using the steel look, in interesting geometric shapes, colors and finishes.Priced between Rs 995-1,950, the womans collection presents the all new international Frostedlook, which is trendy and chic.Titan Fastrack XY WatchesThe Titan Fastrack XY watches collection, as the name suggests has been designed for theyouths interested to sport a funky look. Priced between Rs 500 and Rs 1995 the watches areavailable at World of Titan showrooms and multi-brand outlets across the country.Titan Fastrack Neon Disc WatchesThe Titan Fastrack Neon disc range of watches has been inspired by night clubbing anddiscotheques. It gives existing technology of Electro-Luminescence (EL), an interesting twist;making it the first analog watches collection sans HANDS!! The collection is unique in that ituses NO HANDS to show the time! Instead, two concentric aluminum discs, representing thehour and the minute, show the time with the help of markers cut out on the discs.
14. Titan Fastrack Army collectionThis Fastrack collection has used army equipment, arsenal and apparel as its designinspiration. They basically represent rough and rugged personality.The 20 watch variants comein unusual case shapes inspired by the grenade, the sniper, tanks and even the dog tag! There isthe Grenade watch with a grenade shell case, capped with a mock pin and fastened to a canvasstrap.Titan Fastrack Basics WatchesFastrack watches are reckoned to be hip and cool time gear that youth love to flaunt with style.Fastrack has always pushed its legacy to the next level and introduced latest time pieces. The allnew Fastrack basic watches are another add-on in the Titan kitty. Fastrack basics watch isavailable in different designs and materials. Leather, metal and plastic strips are there to switchas per your mood-swing.Titan Fastrack Girls WatchesFastrack watches are popular for their chic look and feel. And hence they are a quick successamong girls; the reason why Fastrack launched their Fastrack watches for girls.Titan Fastrack DenimFastrack denim collection watches are the latest entrant in Titan tray. This uer-cool Fastrackdenim collection is made for those who are easily satisfied with the best. The young and dynamicIndian brigade loves to wear these Fastrack digital watches; the collection of Fastrack denimwatches is designed for male & female wrists.Fastrack Adventure collectionThis collection has been inspired by mountaineering and rock climbing gear. Targeted at themale, the watches are designed to have a crystal guard for protection. The entire collection haswashable velcro straps with inbuilt analogue compass.Fastrack HipHop CollectionHip Hop, which is the state of the mind, reflects today‟s street savvy generation, that is bold andconfrontational. It is this attitude that has inspired Fastrack to come up with a new collection ofparty watches.
15. Brand extensionsIndias youth accessory brand Fastrack has gone the celebrity way. The latest series of campaignfor Fastrack bags is featuring the brand ambassadors - cricketer Virat Kohli and actressGenelia.Fastrack has extended itself into accessories like Bags, wallets and belts. The brand alsowent into retailing by launching exclusive Fastrack stores. The current campaign is the first foraccessory and the brand has chosen to promote bags in this campaign.The brand has rightlyidentified a need for a branded bag targeting the youth. Currently the market is dominated byunorganized sector and a branded bag priced competitively and marketed properly is certainly agood idea. Fastrack has added shoulder gear and hip gear - bags, belts and wallets to its existingportfolio of wrist gear (watches) and eye gear (sunglasses) on its journey to being a fashionaccessories brand for the youth.FastrackWatches Bags EyewearWristBandsBeltsFastrackWatchesFastrackdigitalFastrackCampusFastrackArmyCollectionFastrackNeon DiscLine extenstionFastrackGirlsCollectionFastrackCampusCollectionFastrackXYCollectionFastrackDenimCollectionFastrackAdventureCollectionFastrackHipHopCollectionBrand Extension
16. 7 Ps of Fastrack –Product – fastrack offers trendy, fashionable watches targeting primarily the urban youth. Itoffers 19 sub ranges to choose from. Each range caters to both the genders, i.e. girls and boys.Also a third category, unisex, has products common to both the genders.. Watches are packagedin card board boxes so that it can be carried easily. The straps of watches have three varietiesonly: leather, metal and plastic. The product is promoted as not „watches‟ but „gears‟ to relate toits target customers. The fastrack collection has elements like mesh straps and features likebacklight and dual time. Also, the digital watch range have features like countdown timers,chronographs, lap timers, hourly chimes, alarm and hi-glow light.Price – The price ranges from Rs. 500 to Rs. 3500. The material used also has an impact on thepricing. For example, watches with metal straps starts from Rs. 1695 and goes upto Rs. 3195.The website offers various discount schemes from time to time on its products.Promotion – Fastrack is relying on youth icons to promote its products. They have roped inViraat Kohli and Genelia D‟Souza as their brand ambassador. The website has variousinteractive features to engage prospective customers and the site organizes online games as a partof promotional strategy and gives fastrack products as prizes. As the watches are promoted as“gears”, pricing is done in such a way as to encourage multiple sales of watches per person.Place – there are nearly 65 dedicated fastrack stores located across India. Apart from fastrackstores, its products are available at Titan‟s world of watches showrooms and at shopping storeslike shopper‟s stop and life style as well. Small watch dealers also contribute to the annual sales.Customers can look at the online catalogue of products and order.People–The Company prefers young and energetic people when it comes to recruiting as theyrelate to the product and to the customers in a better way.Proper training is given to ensure thateach and every service professional have thorough product knowledge. Dedicated Fastrackservice professionals provide assistance to customers at shopper‟s stop and lifestyle showrooms.Physical evidence– Fastrack has tried to project its image as a youth oriented brand with the helpof its innovative packaging, interactive site, brochures, uniforms etc. The decor of the store isvery informal and ambience is vibrant. Also, the staff at fastrack stores have informal trendyuniforms. The website have features like bunker where online visitors can show their creativityand post sketches. The green room is online meeting place of customers where they interact withone another.Process–Fastrack watches are designed at renowned Titan global designed studio which followsthe 3-I process. The 3-I process is a multidisciplinary thought process that enables them toidentify customer needs and create designs by using innovative materials. The 786 service
17. contact points across 343 towns of titan also caters to fastrack division and delivers a satisfyingpost sales experience to its customers. These customer care centers are ISO 9001 & 14001certified. Also, the production plant has adopted low cost manufacturing strategy that increasesthe profitability.Product and Service MixFastrack Timex Helix Casio EdificeProductQuality1-2 % 3-4% 1-2%ProductFeaturesFastrack comes with varietyof features in its low costrange of fastrack includingStop watch, alarm, two timezone, anadigi etcThe product does notcontain many features.Even the basic featureof the date is missing.Casio Edifice comeswith High qualityfeatures like Chrono,Stop watch, Alarm,World Time etcProductStyle andDesignIt comes in Casual, cool,trendy, sporty style.Withinfastrack it has got varioustheme ranges like Bikercollection, Hiphopcollection, Armycollection.It comes inPolycarbonic dial andstainless steel dial.Fastrackcomes in Leather typesofonly fashion and genuineAlso comes in Nylon andrubber strapsStyle is eye catching;hip and stylishtimepieces. It Comes ina colourful range and itincludes denim andcanvas straps.Stylish, sporty, durablewatches and a widevariety targeting youthparticularly motor sportfan. It comes inGenuine Leather Strap,Stainless Steel Strap,Polyurethane Strap.Comes in variouscoloured Brown, black,golden, Silver dialoutring.BrandingFastrack logo in the shapeof a bike which signifiesyouthHelix logo includesTimex brand name, it isusing Timex brandname to promote Helixalong with Timex butnot as a separateCasio Edifice logodoesnot include brandname casio, positioningit as a independentidentity.
18. identityPackaging Cylindrical cardboard box,easy to carry and sportyplaced inside with foambased supportPackaging is in similarline to connect to theyouth; usually thecolour of Box is sameas colour of watchSimple cardboard BoxLabeling Labeling contains Fastrackand logo on it in orangecolour. Other than thatinformation like Model No.,bar code, MRP,Manufacturing place and aToll free No. for customerFeedback.Labeling contains helixlogo andLabeling includesEdifice logo andinformation likeImported from,manufacturing place,Manufacturing Date,MRPProductSupportServicesService centre at each TitanShowroom and in everycity.Service Centre at everyState,Max 20 days time torepair15-20 weeks repairtimeBrand Report CardFastrack Score Supporting Examples1. Deliversbenefitscustomerdesire0.8 Consumer desires cool, durable watches at affordableprices but fastrack has only limited range and styles. SoFastrack is lagging on variety.2. Stays relevant 0.8 In marketing, fastrack ads generally reflect the casualattitude of youngsters towards relationship with a taglineof “move on”. However, we believe that this tagline canbe used to highlight other creative aspects.3. Is price basedon consumers‟perception of1 The price of fastrack is low and consumer‟s alsoperceive this brand as an affordable one with trendydesigns (although variety being low) and good quality.
19. Brand value Infact previous tagline was “How many do you have”which depicts the affordability of Fastrack.4. Is properlypositioned1 Fastrack labels it‟s ranges like biker, hip-hop, armycollection represents appearance. Competitors likeCasio collection of edifice also relate to appearance orlook. However, Fastrack ads also depict differentwatches for different situations thereby reflectingaffordability.5. Is consistent 0.7 During 2003-04, fastrack went in for repositioning,targeting the executive segment as well as the casualwatch segment. It was an unsuccessful attempt. Theconsumers were not willing to pay for a watch that didnot have the executive image. However, in 2005 it againwent for repositioning as the ultimate fashion accessoryfor the youth6. Fits sensiblyinto your brandportfolio1 Fastrack was re-launched as an independent brand fromTitan in 2005 bringing college goers within its targetconsumer group. From being a youthful brand, Fastrackreinvented itself into a full-fledged „youth brand‟,possibly the first of its kind in the country. The identityof fastrack completely different from other brands underthe umbrella of Titan.7. Has anintegratedmarketingstrategy1 Fastrack logo represents bike which is usually associatedwith youth being adventurous and experimental.Interactive website with features like sexopedia all pointtowards youth being creative and experimental. It haseven been a style sposor for MTV Roadies show.8. Has meaningsthat managerunderstand0.8 As mentioned earlier during 2003-04, fastrack went infor repositioning, targeting the executive segment aswell as the casual watch segment. It was an unsuccessfulattempt. However, managers soon reverted back to youthimage of the brand and this image has been keptsacrosanct since then.9. Receivessustainedsupport1 Extensive marketing is practiced even after beingprofitable. First time roped in celebrities like Virat Kohliand Genelia. Fastrack has also extended into eye wear.
20. Fastrack has also entered into newer categories – bags,belts, wallets and wrist bands – as part of its vision tobecome a complete fashion brand for the youth. Fastrackhas „moved on‟ to open its own stores for its youngconsumers with all accessories for youth under one shop.10. Is consistentlymonitored1 Being market-driven, Titan has its information systemsin place and has its hand on the pulse of the watchmarket.Total Score 9.1/10Casio Edifice Score Supporting Examples1. Deliversbenefitscustomerdesire0.8 Consumer desires stylish and sporty, durable watches and awide variety. Casio successfully caters to the needs of itsconsumers. However affordability is low.2. Stays relevant 1 Based on the brand concept of “Speed and Intelligence”,these watches are targeting the motor sports fan. Indeed, thedesign of this Line with its two disk-shaped indicatorsreminds of car brake discs.3. Is price basedon consumers‟perception ofBrand value1 Consumers regard it as high value for money as the highprice is justified by the kind of innovative features and brandname.4. Is properlypositioned1 Casio is known for pure advanced and innovative electronicsand mechanisms. Its association with formula one racingwhich strives to achieve the fastest speed for its racecarsthrough outstanding technology development capabilitieshas helped positioning of casio as for people who valuetechnical innovation.5. Is consistent 1 Casio Edifice has always targeted youth who valueinnovation particularly motor sports fan.6. Fits sensiblyinto your brand1 A very narrow segment of motor sports fan is targeted byedifice. This segment fits into its brand portfolio targeting
21. portfolio upper middle class youth particularly motor sports fan.7. Has anintegratedmarketingstrategy1 casio edifice Racing car logo on the site of. Regular updatesabout its Formula one racing team on its website and RaceGallery and race reports on its website. It includes reviewsabout its casio edifice collection by prominent motor sportpersonalities like Christian Horner.Along with formula one it goes for marketing throughnewspapers and magazines specifically magazines targetedto youth.8. Has meaningsthat managerunderstand1 Casio is known for technical innovation and catering toneeds of narrow segments like athletes, motor sports fan. Sothey have positioned all of them differently.9. Receivessustainedsupport1 Casio edifice continuously receives support. Casio EDIFICEhas renewed its global partnership contract with last year‟sFormula One Champion, the Red Bull Racing team, for all20 races schedules in the 2011 season. Regularly figures inmagazines and newspapers.10. Is consistentlymonitored1 They have provided facility for customer review includingrating and message on its casio india website.Total Score 9.8/10Helix by Timex Score Supporting Examples1. Deliversbenefitscustomerdesire0.7 Targeted segment youth desires affordable, hip and stylishtimepieces. The brand reflects the aspirations and yearningsof today‟s youth and to celebrate the passion and spirit toachieve everything in their lives. It exudes an inimitable,irreverent attitude combined with an amazing sense of style.The brand includes collections like Fusion, Shield, Aviator& Stunt targeted at men and Hook & Helix-Lady forwomen. However it doesn‟t provide much features.2. Stays relevant 1 Timex has recently launched Helix. Today, young peopleare wearing watches that compliment the clothes they wear.Also, they look for watches for all types of outings - be itgoing to the club, swimming, work, etc. During their launch
22. Kangana Ranaut was seen flaunting White and Pink strapwatch matching her white and pink dress. Hence we can saythat brand has stayed relevant since time of launch, thoughits a short span of time.3. Is priced basedon consumers‟perception ofBrand value1 Being from the house of Timex, customer perceive it as areliable and value for money product.4. Is properlypositioned1 Helix is an exclusive one targeting the youth segment. Morethan anything, these watches cater to the needs ofcontemporary youth with an affordable range. Itdifferentiates itself from competitors by offering range invarious colours to complement the clothes they wear.5. Is consistent 0.8 Helix has been recently launched and has been associatedwith youth segment.6. Fits sensiblyinto your brandportfolio1 Timex always had a connect with young consumers.However, with Helix, they are focusing exclusively on theyouth segment with the age profile of 18-25 years andpositioning the brand as fashion brand with lower cost.7. Has anintegratedmarketingstrategy1 They have recently launched the brand with youngBollywood diva Kangana Ranaut, which did generate therequisite visibility. They have even planned outdoor/out ofhome promotions and hoardings. Display kits and countersare especially being designed to attract the audience.Currently, they are exploring tie-ups with several youthoriented events and also we will be focusing a lot on socialnetworking platforms like Linkedin or Facebook.8. Has meaningsthat managerunderstand1 Managers understand that the different proposition offeredby Helix. That is why it has been launched as anindependent brand.9. Receivessustainedsupport0.5 The parent company is supporting the initiatives being takenin India to fuel the growth of business. Helix has beenlaunched recently so we cannot support this point withenough reasons. We believe since this is a new brand thereshould be more expenditure on advertising through channels
23. like TV ads etc.10. Is consistentlymonitored0.8 Helix has been developed to cater to the changing tastes ofyouth who value style and design. They ask for customerreview on their profile, but since it has recently beenlaunched no such evidence showing monitoring is there.Total Score 8.8/10Customer’s perception of valueFastrack has followed a value based pricing strategy. Titan analysed the needs of a segment ofcustomers. It realized that this segment needed stylish watches that were then made by Espiritbut could not afford to do buy the same. Before bringing this to market it even conducted a pilottest in Mumbai to assess the demand of fastrack. Titan entered into youth segment watchesmarket with its sub brand christened as Fastrack in 1998. The Company has changed the valueproposition of watches from a utilitarian product to fashion accessory. The launch of fastrackwas to bring stylish, trendy and affordable watches for young generation. It hit the market withcampaign `Cool Watches from Titan‟. Initially it came up with steel look targeting age group of22-30 years. Next year the age bracket was reduced further to 15-25 years. Then Digitalcollection was launched which was marketed as `Too Sexy for Your Wrist. After this fashion,collection was launched to attract more female audience. For this communication was “Are Youon It?‟ With the new launch, company comes up with new communication mix to appeal to itstarget audience. This strategy was adopted by company to lure new customers towards brand.Later also when fastrack was launched as an independent brand the tagline was „How Many YouHave‟. This was aimed to target youth nature of seeking constant change. It also attempted toeliminate the guilt that customer might have in order to go for more than one watch. Then in2008 company came up with campaign „Shut up and Move on‟ which appealed to youngsters ofnot staying committed towards one thing but ready to explore.Hence Titan kept on investing in advertising to educate the customer about the value propositionof the brand thus keeping him informed constantly.Even with it‟s specific ranges it keeps highlighting the additional value proposition that it giveslike ease of reading time with neon disc in discotheques, night clubs.Timex Helix is also practicing value based pricing strategy. It recognized the customer‟s need ofstylish watches at affordable prices in different colours. During it‟s launch also Kangana Ranautwas wearing two watches in white and pink complimenting her attire.
24. CASIO Edifice also follows a value based pricing strategy. It has recognised the need of youthparticularly motor sports fan for stylish and sporty watches with innovative technical featureswho value speed and intelligence. It communicates the same extensively with it‟s promotionslinked to F1 racing.Price Adjustment strategiesFastrack uses promotional pricing as Flat 20% off on all Fastrack watches and sunglasses offeralso comes around the festive season to boost their sales.CASIO follows psychological pricing. It is priced higher than other competitors but thecustomers perceive its higher cost as a value addition because of it‟s innovative features.Customers relate it to formula one racers and are ready to pay the high cost.Timex Helix has been recently launched. Till now no price adjustment strategy has beenfollowed by it.Price distribution could be accounted for as follows:Hence we can say that Fasttrack and its main competitors are following almost the same pricedistribution strategy with comparable distribution margins thereby providing tough competitionto each other.Pricing Fastrack Timex Helix Casio EdificePrice Range 895-3495 1595-3000 3995-26000Manufacturing Cost and Employee Cost 30-35% 30-35% 15%Marketing Cost 20% 15% 5-6%Company margin 12-15% 20-25% 13-15%Dealer Margin 30% 25-30% 25-30%Custom Duty 0 0 40%