ThE CooL, TreNdy, fUnKy RaNgE fOr ThE YoUnG aNd YoUnG-at-HeArT.
INTRODUCTION Fastrack, a sub-brand of Titan was launched in 1998. Earlier Fastrack targeted at 12-25 year olds and positioned along the line “ Cool watches from Titan”. Titan later relaunched the Fastrack brand in 2005 as an individual brand aiming the target segment of 18- 30 year old with the baseline " How many you have?“ Strategy aimed at promoting the multiple watch owning concept.
SEGMENTATION GEOGRAPHIC CITIES DEMOGRAPHIC GENDERSEGMENTATION SOCIAL CLASS PSCHOGRAPHIC PERSONALITY OCCASIONS BEHAVIOURAL LOYALITY
TARGETING It has a “niche audience”. Targets the young and young-at-heart and people who are fashion conscious but are price sensitive.
POSITIONING Whenever we think of Fastrack, what comes to our mind is “ MOVE ON", that is how it has positioned itself. Existing [WATCH] RE-TIE CONNECTION Newly created [WATCH AS A FASHION ACCESSORY]
PRODUCT It has established itself as a fashion accessory rather thanas a device showing time without compromising on quality. Fastrack watches include various collections like XYcollection, Neon disc collections ,Army collection, Sportscollection, bikers collection, denim collection. Providing watches for every occasion.
PLACE Fastrack has its presence through 6000 outlets across 800 towns including 228 strong World of Titan network, 122 Large Format Chain stores i.e. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch outlets.
PROMOTION To promote the product it uses mass communication through 360 degree media blitz ie. Newspaper, T.V and magazines. Maintains image of the product by continuously maintaining freshness in its communication. Most of its advertisements are dominated by youth. The famous fastrack ads were : Yes sir ad , move on ad. The most interesting thing in all these Ads is the last statement “HOW MANY YOU HAVE” which has a hidden strategy .
STRENGTHS WEAKNESSES Popular among youth. Not associated to maturity. Provides value for Lack of product innovation money. in existing collection. Trusted for quality. Providing unique special collection.
OPPORTUNITES THREATS Huge market and demand is Many foreign players unlikely to change. entering in the race. The young independent Too many players will dilute individuals are trendsetters. the market & the profit margin. People are using it as a fashion accessory which Mobile phones acting as means more demand for the substitutes of the watches. product. Increasing the price of the Youth of India are far more raw material like steel may brand conscious than increase the price of the their predecessors. product.
QUESTIONAIRE1) Which watch brand are you currently using?2) What features do to consider while purchasing a watch?3) What/who influenced you to make your purchase?4) Which type of wrist watch do you like to wear?5) Does publicity of watches affect your buying decision?6) Do you prefer cell phone over your watch for referring time?7) You prefer your watch as accessory or necessity or both?8) Would you like to have a customized/personalised watch [belt of the watch,its dial,colour]?9) What are the problems you face while purchasing a watch?10) Does warranty of the watch have any influence on your purchase?
PRODUCT LIFE CYCLE OF FASTRACK WATCHES1.introduction 2.growing maturity 3.stable maturity 4.decliningmaturity 5.decline 2 3 4SALES 5 1 TIME
CONSUMER BEHAVIOUROBJECT OBJECTIVE ORGANISATIONWatch 1) Time showing device 1) Friends 2) Reveals personality of a 2) Colleagues person 3) Accessory/ ornament 3) Parents 4) Alarm system 4) Siblings 5) Attire (matching with 5) Shop-keeper clothes) 6) Current trend 7) Value for money
OPERATIONS OCCASIONS OUTLETS1) Bought in bulk by 1) Everyday 1) Authorized retailers. chain of Retail2) Throught out the 2) Gifting outlets with year. company 3) Meetings service centre 4) Party 2) E-commerce 5) Awards
FUTURE STRATEGIES Fastrack needs to continue its focus on innovation in all its collections. It needs to keep coming up with creative as well as matured ads and promote it at college festivals with the help of youth icons . Since Fastrack deals with bulk it has not entered into individual marketing. They should encourage customization of watches in small scale with small local retailers/gift shops like archies. Provide exciting offers throughout the year. Target rural market. Since Fastrack is associated with youth[Generation next], it should encourage education by sponsoring students and also encourage employment by asking them to work for the company.