1account planning assignment gaurav & madhubanti

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1account planning assignment gaurav & madhubanti

  1. 1. RESEARCH ON FASTRACK MADHUBANTI DAS GAURAV SHARMA
  2. 2. RESEARCH DETAILS  No. of Interviews : 9  INTERVIEWEES  Department Manager – Pantaloons, Phoenix Mall  Sales Man – Sunglass hut, Phoenix Mall  Sales Girl – Fastrack store , Kalyani nagar  Watch Repairer – Time Plus, Chandan Nagar  CUSTOMER  Kiran sabde  Sayantam pahuja  Anindita khemka  Sandra awasthy  Saurabh Sharma
  3. 3. MEMBER #1 MADHUBANTI DAS
  4. 4. RESEARCH DETAILS  No. of interviews : 5 INTERVIEWEES PUSHKAR TEWARY Designation: salesman Venue: sunglass hut, phoenix mall SANDEEP SINGH Designation: watch repairer Venue: time plus shop, chandan nagar KIRAN SABDE Designation: engineering student Venue: mg road, fashion street ANINDITA KHEMKA Designation: verve communications, bpo Venue: phoenix mall, viman nagar SANDRA AWASTHY Designation: homemaker Venue: mg road, fashion street
  5. 5. I N T E R V I E W NAME PUSHKAR TEWARI DESIGNATION Salesman, sunglass hut VENUE Phoenix mall, Viman Nagar STORE HOURS 9 am to 6 pm BRANDS AT STORE No Fastrack sunglasses CUSTOMER FLOW Weekdays Weekends From 12noon to 12.30pm From 9.30 am to 10 am CUSTOMER AGE GROUP YOUNGSTERS TO MIDDLE AGED (oldies occasionally) CUSTOMER‟S MIND FLUCTUATION Not very often PARAMETERS FOR MIND FLUCTUATION Product style WHY NO FASTRACK SUNGLASS @ SUNGLASS HUT Low sales; sub-standard style
  6. 6. I N T E R V I E W NAME SANDEEP SINGH DESIGNATION WATCH REPAIRER VENUE TIME PLUS, CHANDAN NAGAR STORE HOURS 10 am to 9 pm BRANDS AT STORE LOCAL BRANDS CUSTOMER FLOW From 11 am to 9 pm BEST BRAND FOR REPAIR TITAN, SONATA CUSTOMER AGE GROUP NO SUCH GROUP – EVERYONE EVER REPAIRED FASTRACK YES MAIN PROBLEM WITH FASTRACK LOOSELY BUILT BELTS; DIAL GET STUCK USUALLY DOES THE PROBLEM GET FIXED ON FIRST ATTEMPT NO; DIALS GET STUCK EVEN AFTER REPAIR
  7. 7. I N T E R V I E W NAME ANINDITA KHEMKA PROFESSION Verve communications, bpo AGE GROUP Between 24 – 30 years PREFERRED BRAND FOR WATCHES Titan OPINION ABOUT FASTRACK Too flashy and not formal ANY OTHER PRODUCT OF FASTRACK YOU FAVOR I LIKE ITS BAGS, BUT CAN USE IT ONLY ON FRIDAYS AND WHEN I HANGOUT WITH friends(which is not very regular) HOW DO YOU RATE FASTRACK FOR ITS COST Not very costly but only the youngsters who love to flaunt will buy it WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS I would love to try its shoes HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS A bag for me and twice(watches) for my friends as a gift
  8. 8. I N T E R V I E W NAME SANDRA AWASTHY PROFESSION Homemaker AGE GROUP Between 30 - 35 years PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK For youngsters except for sunglasses ANY OTHER PRODUCT OF FASTRACK YOU FAVOR Sunglasses and belts are cool HOW DO YOU RATE FASTRACK FOR ITS COST Under the budget WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS Yes i would love to try its shoes HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS I buy its belt on regular basis WOULD YOU RECOMMEND IT OTHERS Yes; infact i have already referred it to my sister-in-law
  9. 9. NAME KIRAN SABDE PROFESSION ENGINEER AGE GROUP BETWEEN 19 - 25 YEARS PREFERRED BRAND FOR WATCHES FASTRACK OPINION ABOUT FASTRACK GREAT BRAND, STYLISH AND COOL ANY OTHER PRODUCT OF FASTRACK YOU FAVOR SUNGLASSES AND BAGS HOW DO YOU RATE FASTRACK FOR ITS COST UNDER THE BUDGET WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS OFCOURSE, I WOULD DEFINITELY TRY HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS LOTS OF TIMES; ESPECIALLY SUNGLASSES AND WATCHES WOULD YOU RECOMMEND IT OTHERS ALL MY FRIENDS‟ CIRCLE USES IT I N T E R V I E W
  10. 10. MEMBER # 2 GAURAV SHARMA
  11. 11. RESEARCH DETAILS  NO. OF INTERVIEWEES : 4 RAKESH PATEKAR Designation: department manager Venue: pantaloons, phoenix mall SAURABH SHARMA Designation: engineer, bajaj finserv Venue: wadgaon sheri DIVYA KHEMKA Designation: sales girl Venue: fastrack store, kalyani nagar SAYANTAM PAHUJA Designation: college student Venue: mg road, fashion street
  12. 12. NAME RAKESH PATEKAR DESIGNATION DEPT. MANAGER, PANTALOONS VENUE PHOENIX MALL, VIMAN NAGAR STORE HOURS 11 am to 10 pm BRANDS AT STORE ROLEX, FASTRACK, ZOOP, TITAN, TOMMY HILFIGER, RAYBAN, etc. CUSTOMER FLOW 11 am to 9.30 pm CUSTOMER AGE GROUP CHILDREN TO OLD AGED PEOPLE CUSTOMER‟S MIND FLUCTUATION NOT VERY OFTEN, BUT IT DOES HAPPEN PARAMETERS FOR MIND FLUCTUATION PRODUCT STYLE VISITORS GETTING CONVERTED TO CUSTOMERS 8/10 – OTHER BRANDS WATCHES 6/10 – FASTRACK WATCHES 8/10 – FASTRACK SUNGLASSES I N T E R V I E W
  13. 13. I N T E R V I E W NAME DIVYA KHEMKA DESIGNATION SALES GIRL, FASTRACK STORE VENUE KOREGAON PARK PLAZA, K.P. STORE HOURS 10 am to 8.30 pm BRANDS AT STORE FASTRACK WRIST WATCHES, SUNGLASSES, BELTS, BAGS, WALLETS, WRIST BANDS, ACCESSORIES CUSTOMER FLOW 10.30 am to 8.15 pm YOUR VIEWS ON FASTRACK JEANS AND JACKETS DEPENDS ON THE PRICE AND STYLE. PEOPLE ARE ALREADY BRAND LOYALS. WILL BE VERY DIFFICULT FOR FASTRACK TO PENETRATE. MOST SOUGHT AFTER FASTRACK PRODUCT SUNGLASSES & WRIST WATCHES CUSTOMER AGE GROUP YOUNGSTERS TO MIDDLE AGED PEOPLE CUSTOMER‟S MIND FLUCTUATION HAPPENS IN VARIOUS PRODUCTS PARAMETERS FOR MIND FLUCTUATION PRODUCT STYLE & PRICE VISITORS GETTING CONVERTED TO CUSTOMERS 8/10 – WATCHES 6/10 – BAGS 8/10 – SUNGLASSES 4/10 – ACCESSORIES
  14. 14. I N T E R V I E W NAME SAYANTAM PAHUJA PROFESSION Student, christ college AGE GROUP Between 19 - 25 years PREFERRED BRAND FOR WATCHES I buy watches from fashion street OPINION ABOUT FASTRACK Good for people with disposable money; i can get the same style- watches with similar features at fashion street in less than half its cost ANY OTHER PRODUCT OF FASTRACK YOU FAVOR Sunglasses are good but again, I buy sunglasses also from F C road HOW DO YOU RATE FASTRACK FOR ITS COST Costly for me WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS YES , IF IT COMES IN THE PRICE RANGE BETWEEN rs.700-1500 HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS Once; as a gift for my elder brother WOULD YOU RECOMMEND IT TO OTHERS Its feasible to buy from fashion street or F C road, so i would not suggest them to buy branded watches or sunglasses. Besides, Sonata has better watches in the same range.
  15. 15. I N T E R V I E W NAME SAURABH SHARMA PROFESSION Engineer, Bajaj Finserv AGE GROUP Between 25 - 30 years PREFERRED BRAND FOR WATCHES Titan OPINION ABOUT FASTRACK Too flashy but stylish ANY OTHER PRODUCT OF FASTRACK YOU FAVOR Sunglasses are good; but i prefer ray ban over fastrack HOW DO YOU RATE FASTRACK FOR ITS COST Its not very costly but the products are not at all formal which i need mostly for office or formal parties. WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS I would love to try it based on its variety and price HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS Never; once i was given as a gift WOULD YOU RECOMMEND IT TO OTHERS Yes; to my younger brother
  16. 16. PRIMARY RESEARCH INFERENCE  Fastrack has a high brand recall and awareness yet unwilling to buy  Few consider it too flashy  Other‟s consider it high priced – compared to Chinese watches available at road side shops  Youngsters are willing to buy it.  Middle aged people (30-35) use it as gifts.
  17. 17. UNDERSTANDING THE PROBLEM  THROUGH OUR PRIMARY RESEARCH WE FOUND:  Watches are not very much liked by the people who are : A. LOWER MIDDLE CLASS B. ELITE SECTION It is being used by the youth of Upper Middle Class
  18. 18. UNDERSTANDING THE PROBLEM  THROUGH OUR SECONDARY RESEARCH WE FOUND  Currently Fastrack contributes 36 per cent of Titan's watch division profits.  Titan plans to add 200 Fastrack stores during this fiscal.  It expects to sell 4.6 million watches, over 1.1 million sunglasses and a million other accessories this year. Source: http://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455
  19. 19. FASTRACK – ABOUT  PARENT COMPANY: TITAN INDUSTRIES LIMITED (Joint Venture of TATA Group & Tamil Nadu Industrial Development Corporation)  PRODUCT CATEGORY: WATCHES, BAGS & ACCESSORIES (WALLETS & BELTS)  SECTOR: LIFESTYLE AND RETAIL  CONTRIBUTES 25% SALES REVENUE IN TITAN‟S REVENUE  TAGLINE: MOVE ON  USP: YOUTH APPEAL
  20. 20. FASTRACK OVERALL BUSINESS  Titan is the world‟s fifth largest wrist watch manufacturer  Size of the current watch market is 40-45 million pieces annually.  Fastrack sells 3 million watches annually  Fastrack‟s turnover was about Rs. 615 crore, 2011-12 Source: http://www.moneycontrol.com/news/business/titan-industries-sees-fy12-sales-top-rs-8200- crore_554467.html http://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455 http://www.businessstandard.com
  21. 21. FASTRACK OVERALL BUSINESS  The company reported net sales of Rs. 8,838 crore.  Fastrack plans to launch helmets, bicycles in the next two years.  Currently Fastrack contributes 36 per cent of Titan's watch division profits.  Titan Industries expects its revenue in the current fiscal (2011-12) will be over Rs 8,200 crore, compared with net sales of Rs 6,532.97 crore in 2010-11
  22. 22. FASTRACK - RESOURCES  Human Resource  Product Manufacturer  Factory Outlet  Raw Materials  Distributor  Retailer  Major Chain (eg. Future Groups‟ Big Bazar)
  23. 23. OTHER BRANDS WATCH SUNGLASS BAGS & WALLETS SHOES SWATCH RAY BAN PUMA PUMA CASIO ARMANI NIKE REEBOK TIMEX ARMETTE SKYBAGS NIKE DOLCE & GABBANA FEEL GOOD ADIDAS DKNY VINCENT CHASE BATA GUCCI BUTTERFL Y ALDO
  24. 24. FASTRACK - AMBITIONS  Fastrack is thinking of going global as the segment is borderless – Bhaskar Bhatt, MD, Titan  Brand Extension – Planning to extend in motorcycle Helmets and footwear.  Planning to open 100 fastrack stores in tier 2 and tier 3 cities  The company is planning to enhance store space from current 500 sq. ft to about 700 sq. ft.  The company will also be investing heavily on increasing its physical presence both in terms of retail networks and advertisements.
  25. 25. THEREFORE..  Fastrack is in the growth stage now as it is marking rapid climb in sales. Early adapters like the product and the additional customers start buying the product. Company continuously coming up with new features and variants keeping the brand moving forward satisfying the tastes and needs of different customers.
  26. 26. CATEGORY - SHOES  COMPETITIVE SET  All stylish and trendy shoe(non-formal) brand  All sports shoe  All the shoes that people wear while hanging out
  27. 27. CURRENT SCENARIO
  28. 28. CURRENT SCENARIO  Reebok is currently the market leader in India with 46 % of market share in the sportswear circuit.  Adidas is currently ranked 2nd with 21% share  They are followed by other brands with 16% market share  Nike and Puma comes at the bottom in branded sportswear.  The price of Nike shoes starts from Rs.900 whereas those of Puma starts at Rs.2000 and that of Reebok starts at Rs. 4000.  The local brands of Shoe is also doing a good business with most middle class segment of people opting for Roadside shops to buy sports shoe.
  29. 29. WHAT‟S NEW  Fastrack is planning to enter into a new category – Shoes.  It will take on Puma, Nike and Adidas.  Fastrack Shoes will range between Rs. 700 – 3500.  Fastrack plans to sell at least 10 million pairs in the first year.
  30. 30. COMPETITORS  MAJOR COMPETITORS  ADIDAS  PUMA  NIKE
  31. 31. OBJECTIVES OF COMPETITORS ADIDAS  Adidas' main objective is to become the best sports brand in the world.  The company aims to set high standards for other similar companies.  Adidas also aims to make innovative products modelled on the athlete's needs. Source: www.adidas-group.com PUMA  PUMA‟s goal is to be “The Most Desirable Sport lifestyle Company”.  Puma tries to strengthen its position in all categories and regions as one of the few multi-category brands.  The long-term potential of the company is estimated to be € 4 billion in sales. Source: http://about.puma.com/category/company/strategy/corp-strat/
  32. 32. OBJECTIVES OF COMPETITORS NIKE  Nikes main objective is to develop products that help athletes of every level of ability reach their potential, to create business opportunities that set Nike apart from the competition and to provide value for its shareholders. Source: www.nikeresponsibility.com
  33. 33. COMPETITOR‟S STRATEGY  TARGET MARKET  ADIDAS  Sports personalities involved in various sporting activities such as soccer, rugby, swimming, athletics and basketball  Young people: male and female, between the ages of 10 to 30  PUMA  Age – 15 to 30 years  when a person is sporty and active  Both male & female  NIKE  Active people who enjoy high-quality sporting goods.  Young kids that love foot wear and running and improving the running in track in any sports
  34. 34. COMPETITOR‟S STRATEGY  POSITIONING  PUMA  Sport lifestyle brand that takes pleasure in skilfully combining sports and lifestyle influences and which strives to contribute to a better world.  NIKE  To bring inspiration and innovation to every athlete in the world. This is supplemented by Nike's definition of an athlete as anyone who has a body.  ADIDAS  Multi-sports specialist: leading sports brand in the world
  35. 35. BRAND  BRANDING IDEA CREATIVE BRIEF ACCOUNT PLANNING 18/09/13 CREATIVE BRIEF BRAND: FASTRACK MADHUBANTI DAS & GAURAV SHARMA
  36. 36. BRAND – CAMPAIGNS TILL NOW  Fastrack has been using the following means to promote itself:  TVC  PRINT ADVERTISEMENT  OUT OF HOME ADVERTISEMENT  WEBSITE PROMOTION  SALES PROMOTION  PUBLIC RELATIONS  SOCIAL MEDIA PROMOTION  ONLINE CAMPAIGN
  37. 37. TVC  „Cool Watches from Titan‟ campaign which made Fastrack to grab Attention of the customer by using the name of its Parent company which was already established.(year 1998)  After the growth became stagnant Fastrack changed the message to „Move On‟ and „How Many You Have?‟ (2003 – current year).
  38. 38. TVC •Most of the Fastrack TVC is based on youth content and youth Ambassadors. •Most of its ad campaigns were based on Sex content Eg. Yes Sir Ad (How many you have campaign) Fastrack Sunglasses Ad starring John Abraham Blame Fastrack campaign – Girl coming out of hostel, naughty hand ad Genelia D‟Souza and Virat Kohli fastrack bags ad – Move On Live In, Mature is In, etc campaign
  39. 39. TVC
  40. 40. WEBSITE AD
  41. 41. SALES PROMOTION FASTRACK always come up with sales promotion during festival seasons and special locations. They provide 20-40 % discount on all ranges
  42. 42. PR 2.0 Campaign  Fastrack was one of the few companies in India to take the lead on embracing PR 2.0.  Fastrack has come out with the Fastrack social media news room for bloggers.  They are using the newsroom to share information and news on Fastrack.  It also features social media press releases (Bikers and Neon Disk), videos, media coverage, product and company information, spokesperson profile, RSS feeds, and more.  For the consumers, Fastrack has launched two Facebook groups called Life on Fastrack and Bikers on the Fastrack.
  43. 43. MY EX BOX – ONLINE CAMPAIGN  Fastrack has launched MyExBox  An Online campaign  Users can post videos that communicate  Encourages users to vent reasons why they had to dump someone or something and „Move On‟  The most viewed video of the week wins Merchandise and gets a chance to be on TVC.
  44. 44. FASTRACK – HIDDEN ASSETS  Fastrack caters to the urban youth aged between 16 and 25.  This segment is huge  It is ready to try different things.  The design of ranges of Fastrack products are very stylish and changes frequently
  45. 45. FASTRACK – HIDDEN ASSETS  Its packaging is also very stylish, unique and attractive to the youth.  Therefore, it has the capacity to go beyond this country as this segment is borderless.  Fastrack Shoes has the capability to reach abroad.
  46. 46. CUSTOMER  WHO A teenager who aspires to achieve success by making his own footprints and not by following others.  STAGE IN LIFE He/she is rebellious and wants to bring about a change in the society in his own way, yet he/she respects the old traditional values.  A DAY IN LIFE He wakes up early in the morning and goes for jogging before leaving for his college. He returns home in the evening and manages his assignments without ignoring his house chores. He goes to gym in the evening and then catches up with his friends and his girlfriend. He is always active among his friends and is seen as the style icon by others.
  47. 47. CUSTOMER  MEDIA TOUCHPOINTS  While jogging  While going to college  While going to gym  While hanging out with friends  While dating  While partying  I am Fastrack Shoes. I am the catalyst that pushes him to go that extra mile and achieve success; and I also act as a stylish accessory that separates him from others, thereby making him the style icon among his friends.
  48. 48. TRIGGER Need to wear stylish, sporty and affordable shoes SEARCH Promotion through various mass media. Easier for its customer to collect information. CONSIDER Various trendy, stylish and affordable shoes CHOOSE Reputation Fastrack shoes the best option BUY Sub decision – convenience, availability, payment EXPERIENCE Comfortable and stylish experience Being the style icon among friends
  49. 49.  Need to look stylish, cool and trendy.  Youth has an upper hand  Looking stylish and trendy gives me a separate identity – style icon among friends.  I want to be the trend setter among my friends. “Everyone wants to have a separate identity – Fastrack Shoes gives a way to be the style icon.” KEY DISCOVERY: CONSUMER
  50. 50. THANK YOU

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