Brand Presentation - Fastrack Watches


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Brand Presentation on Fastrack watches, presented by the students of The Delhi School of Communication

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Brand Presentation - Fastrack Watches

  1. 1. oAbout usoObjective of presentationoIndustry AnalysisoOur perspective clientoAbout fastrackoCompetitorsoConsumer behaviour ( Research andSurvey )oMarketing ProblemoCommunication ObjectiveoMedia PlanoTimelineoRecommendationsoGratitude
  2. 2. KIBS came into being in 1999 by FourYoung Entrepreneurs.Range of integrated services includecomprehensive consultancy acrossbrand consulting, advertising andpublic relations.We believe experience is the keyfactor that enables us to harness thePower of Insight.
  3. 3. Headquartered in NewDelhi – KIBS is present in 8Major Cities of India. Delhi Mumbai Pune Coimbatore Bangalore Chennai Kolkata Hyderabad
  4. 4. o
  5. 5. Wrist Watch Market Size : Rs. 1500 Crore.Average Price of watch sold in India : Rs. 1000Quantity of watches sold yearly in India : 50million units
  6. 6. The replacement rate of watch is 33.8 % (Indiamarket demographics report )Male watch buyers far outnumber femalesand account for around 65% of sales.Students are the largest segment of buyersaccounting for approximately 30% of the sales.
  7. 7.  In 1998 Titan recognized a need in themarket – a reasonably priced watch for theyouth between the age group of 15 – 25years. Fastrack was launched as a sub-brand ofTitan, with a range of digital watchesstarting from Rs. 795.
  8. 8. It carved a niche for itself in the youthaccessories market, with designs that arerefreshingly different, casual, eclectic andfun, clubbed with prices that do not burn a holethrough the pocket.Fastrack was promoted with the slogan "CoolWatches from Titan” to compete with Timex afterthey parted way.
  9. 9.  First year, the brand clocked a turnover of Rs15 crore.The good run continued till 2001-2002 andwas worth Rs 25 crores. But the sales stagnated. Although the brandappealed to youngsters, the price was asignificant dampener and college studentscould not afford this brand.
  10. 10.  During 2003-04, the brand went in for arepositioning exercise targeting the executivesegment as well as the casual watch segment.It was a suicidal experiment. The brand salescame down to Rs 23 crore. The change inpositioning did not fit well with the brand.The steely look of the watches emphasizedthat it was sturdy and long-lasting.
  11. 11.  In 2005, the brand went for another repositioningexercise with a new logo and a new positioning.They adopted the break-away positioning anddecided to target the youngsters, the GenerationNext.The brand transformed to a mix of plastic and steel.By doing so, Fastrack was able to reduce the startingprice to Rs 500 and was available in a price range ofRs. 500 – Rs. 2000.
  12. 12.  Fastrack captured the essence of today’s funloving, free spirited youth through the newpositioning in a tongue in cheek colloquialphrase - “How many you have.”Fastrack then promoted itself through a 360-degree media blitz through television, outdoor,events and promotions to change theperception of watches as a functional tool to afashion accessory.
  13. 13.  Titan earmarked Rs 8 crore for Fastracksadvertising. The campaigns were aimed at students inthe 15 to 25 year age group, belonging to SEC A andB, in the top 30 towns.The communication promoted the idea that owningseveral watches is acceptable, if not a requiredbehavior.The campaign, the positioning and the price was agreat hit. The brand sales zoomed to Rs 35 crore.
  14. 14. wants to be the ultimate fashionaccessory for the youth has adopted thefollowing core brand values: • Fashionable and trendy •Affordable Pricing •Fresh Communication to attract the young consumers
  15. 15.  Fastrack has been maintaining this image bycontinuously maintaining freshness in itscommunication. In order to satisfy the want created in themarket, Fastrack has its presence through 6000outlets across 800 towns including 228 strong Worldof Titan network, 122 Large Format Chainstores, i.e., ShoppersStop, Lifestyle, Central, Westside, Pantaloons andMulti-brand watch outlets.
  16. 16. 10,000 2300 ALL INDIA Towns Dealers 204 109 World Of Titan Showrooms Towns 129 90Multi-brand-stores Time Zones Towns 679 330 Centers Service Centers Towns
  17. 17.  One can notice this brand in the wrist of mostof the students. The brand had successfully established itselfas a fashion accessory rather than as a watchwithout compromising on quality. The adaptation of the 360 degree approach inits communication and the use of social mediahave helped it become the ultimate fashionaccessory of the youth.
  18. 18.  Taking a cue from the fact that most of the TGfor Fastrack owned a bike, Fastrack launched abikers collection which again is a classic example ofconsumer-centric product innovation. The latest innovation is the neon - disc range ofFastrack watches that does not have Hands toshow the time but have electroluminescent discthat lits up to show the time.
  19. 19. Age :- 15 – 25 Gender :- bothOccupation :- students (matriculate to graduates )
  20. 20. Young & EnergeticQuirkyOpen to experimentWant recognitionRebelliousTrendy and fashionableBrand conscious
  21. 21. oThere are a variety of collections of Fastrackwatches specifically targeted to men and women.oEach product is includes a different set of featuresto meet the need of specific customers.
  22. 22. • Advertising is in the form of televisioncommercials. The company uses youth icons toportray the trendy and funky look of the brandand to associate with it.
  23. 23. •Channels: The product is sold at almost all theleading watch stores and shopping malls. Thecompany has also established branded storesand it is also available in Titan stores.•Coverage: the products are available all overIndia.
  24. 24. •Public displays also play an important role inpromotion. The colorful and lively bill boards playan important role in promotion.•They have recently started viral videos oninternet through social media platforms. eg ; myEXBOX channel.
  25. 25. COLLECTION PRICE RANGE TARGETSport 2000-4000 Men onlyArmy 2000-3500 Both men and womenAdventure 1000-2000 Both men and womenBasics 500-1500 Both men and womenGrunge 1000-2500 Both men and womenAluminium 500-1000 girls onlyColour Play 1000-2000 girls onlyDigital Fashion 500-2000 Both men and womenEssentials 1000-2500 Both men and womenParty 1500-3000 Both men and womenPairs 3000-3500 PairNeon - Disc 1000-2500 Men onlyNeon 500-1500 Men onlyXY 1500-3000 Both men and women
  26. 26. SEGMENTING :Wrist watch can be majorly segmentedon the basis demographic factors and price.On the basis price the market can besegmented into low priced, medium pricedand high priced..
  27. 27. The low priced watches are priced less thanRs.1000, medium priced watches are priced from Rs1000to Rs.3000 and highly priced are priced above Rs.3000.Fastrack has unveiled products in all the segments. Theis from Rs. 500 to Rs.4000.On demographic grounds, the market could besegmented on the basis of age. Fastrack watches werelaunched to cater to the needs of youth at first however itintroduced watches for kids also later on.
  28. 28. TARGETING:Fastrack has products caters to the products in allthe segments.The range of Fastrack watches is from Rs. 500 toRs.4000.It is catering to all the three segments of low,medium and highly priced segments.
  29. 29. Collection Price rangeSport 2000-4000Army 2000-3500Adventure 1000-2000Basics 500-1500Grunge 1000-2500Aluminum 500-1000Color Play 1000-2000Digital Fashion 500-2000Essentials 1000-2500Party 1500-3000Pairs 3000-3500Neon - Disc 1000-2500Neon 500-1500XY 1500-3000
  30. 30. On demographic grounds, Fastrack watches were launched tocater to the needs of youth at first however it introduced watchesfor kids also later on. Hence it is targeting both youth and kidssegments. Collection Target Sport Men only Army Both men and women Adventure Both men and women Basics Both men and women Grunge both men and women Aluminum Women only Color Play Women only Digital Fashion Both men and women Essentials Both men and women Party Both Pairs Pair Neon - Disc Men only Neon Men only XY Both
  31. 31. POSITIONING:Fastrack positions itself as both trendy andaffordable range.These two attributes were usually considered astwo poles wide apart.Fastrack has taken the challenge of combiningboth the features to offer a greater value proportionto its customers.
  32. 32. Trendy yet affordable.Range of different collections to caterto all the niche consumers within theirtarget group.Distribution channel is strong.Goodwill in the marketStrong financial positionFast changing designs
  33. 33.  Short cycle products which areexpensive to make.Not much multi purpose watches.Lack of density of exclusive stores.Low self esteem.
  34. 34. Rapid market growthChanging customer needsTo create relation between society on social marketing basis
  35. 35. Tough competition in watchesLow profit marginsNew competition in market
  36. 36. BoldAffordable Fastrack Fashionable Young
  37. 37. • Bold and Smart• Represents youth• Excitement• Trendy• Affordable with a lot of variety
  38. 38. Repeat Patronage High Low Relative Latent Attitude High Loyalty Loyalty Spurious No Low Loyalty LoyaltyUmbrella Brand LOYALTY Sub Brand
  39. 39. Fastrack watches are being used by 70% of youthand has highest recall compared to its competitors.
  40. 40. We conducted a study to understand theconsumer behavior towards the brandFor the questions, we separated men andwomen to know deeper information from theyouth consumers. A total of 25 students participated in thesurvey. Among them 16 were men and rest of 9 were women.
  41. 41. 1 ) A watch to you is? Male Female
  42. 42. 2) In your view, what key features does a watchneed to have? Male Female
  43. 43. 3) Do you prefer branded watches to unbrandedwatches? Male Female
  44. 44. 4) Where do you prefer to buy a watch? Male Female
  45. 45. 5) How often do you change your watch? Male Female
  46. 46. 6) The amount of rupees you wish to spend on buyinga new watch? Male Female
  47. 47. 7) As per you, what is the most effective mediumof advertisement for a wrist watch? Male Female
  48. 48. 8) What influences you to buy a particular wristwatch? Male Female
  49. 49. 9) Which brand do you use now? Male Female
  50. 50. 10) Have you used Fastrack watch? Male Female
  51. 51. 11) How do you perceive Fastrack watches? Male Female
  52. 52. 12) How likely is it you would recommend Fastrack watch to your friendsand colleagues ? Male Female
  53. 53. 13) How likely is that you buy a Fastrack watch in your nextbuy? Male Female
  54. 54. 14) Which type of strap do you prefer in your watch? Male Female
  55. 55. Low price generally ignites negative connotationand thus people want to buy the product but don’twant to be associated with it.To compete against the trendy offerings byCasio, Swatch, Tommy Hilfiger etc and yet not loosedue to low pricing.Bold communication sometime leads to negativeconnotation.
  56. 56. To work on the product as bold and quirky justlike Its users.To change the perception of it being a low pricedproduct.Youth is always looking for change so associatethe product with “ making things happen.”
  57. 57.  Print ads in metro (OOH) ( Delhi, Bengaluru, Mumbai, Chennai, Kolkata, Pune). TVC ( New ones with “Making Things Happen” Campaignand “Customtrack”). Viral videos on Internet ( eg ; myEXBOX ) Consumer Promotion – Discount coupon for purchase ofother Fastrack products. - Free Product with purchase of one. (eg; Goggles with Bag) Co – Branding events with Colleges ( eg ; Sankalan 2011 ofDU )
  58. 58. Reader Total Rate/S ship (in Total SqPrint Plan q Cm lakhs) Size April May June July Aug Sept Vol Cm CostHINDUSTAN TIMES 4000 19.2 400 1 1 1 3 1200 48,00,000 TIMES OF INDIA 5875 18.95 400 1 1 1 3 1200 70,50,000 Hoardings 16 ft X (per sq ft) 300 NA 16 ft 1 1 1 1 1 1 6 Places NA 7,00,000
  59. 59. Size Tot Rate/10 ( al TotalTVC sec TVR Sec) April May June July Aug Sept Vol Sec. CostSETMAX 12,00,00 4.36 10 3 3 30 36,00,000MTV 3,50,000 3.16 10 4 4 4 4 4 4 24 240 84,00,000 Total 1,20,00,000
  60. 60. Alloted PR & Jul Au Budget Marketing Cities April May June y g Sept Consumer Promotion New Delhi * * * * * * 50,00,000 Co-branding Events New Delhi * * * 50,00,000“Making things happen” Campaign New Delhi * * * * * * 1,00,00,000 Viral Videos New Delhi * * * * * * 10,00,000
  61. 61. Analysis of the Survey ;  New trends and models every season.  More brand showrooms presence around the metros and cities.  More no of variants in the price range of Rs1000 - Rs3000  Date and day display option for boys, more multi purpose watches.  Night glow option for girls.  More Promotions in televisions and print media  More variants in leather and steel strap  Providing special offers for the loyal customers
  62. 62. “Making things happen “ Campaign :  Collaboration with Sunitha Krishnan and work for human trafficking under the slogan of “making things happen”.  Workshop with collegeschool students in all the metros. Debate over the issue and field work included.
  63. 63.  List of College UniversitySchool considered ;Delhi University, New DelhiJNU, New DelhiShri Venkateshwar College, New DelhiDPS, RK PuramG.D.Goenka College and School, NDSt. Stephens College, New DelhiAngels Public SchoolBalbharti Public SchoolBirla Senior Secondry SchoolDon Bosco School
  64. 64.  A page to be integrated in Fastrack site - andtitled “Customtrack”. This a site where one can design their own wrist watch and get itshipped at nominal price.COD option included.For every order Rs. 5 will go towards the Human Traffickingproject under.The Customtrack page will have advertisement relating to theHuman Trafficking Project.
  65. 65. Viral videos posted on Internet via social media platformshowcasing the fieldwork.This would help in creating a bold and quirky image coupled witha cause that matters to the target group.“Making things happen” will help in changing the perception ofthe other group of people who are out of our target group togenerate a positive word of mouth. Our target group still majorly isunder parent supervision and hence their positive outlook wouldhelp.
  66. 66. We recommend that we have shelf placement of our products inout stores with comparative prices of competitor. oThe price and features of competitor watches can be highlighted and agianst the watches offered by Fastrack. oThe similar or different features can be highlighted for consumer benefit. oThis will help the consumer to analyze the products and buy the one that they choose. The negative connotation with low pricing could be tried to change.