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
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
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
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 Portfolio
Name 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
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
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
22. Major Players in Market
Other than Titan/Fastrack
General
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
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
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
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
36. Virat Kohli
The Brand Ambassadors represent the brand image of
Fastrack i.e Bold, Adventurous and Raring to Go
They also have a mass following and immediate
connect 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
