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Segmentation in marketing by RJ


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Segmenting, Targeting and Positioning(STP) in Marketing Management with Example By Rakesh Jasani.

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Segmentation in marketing by RJ

  1. 1. INTRODUCTION OF FASTRACK WATCHFast Track watches launched in 1998 as a sub-brand of titan. It was spun off as an independent brand of watches targeting the urban youth in 2005.Since that, it has carved a niche for itself with designs that were refreshingly different and affordable. Among the popular titan Fast Track watches collection available across in India are Titan Fast Track Campus Watches. Titan Fast Track Digital Watches, Titan Fast Track Watches For Women, Titan Fast Track XY Watches and Titan Fast Track Neon Disc Watches.
  2. 2. INTRODUCTIONThe company incorporated on 26 july, at chennai. The main objective of the company is to manufacture analog electronic watches with a choice of over 150 designs.Titan industries has announced a new range of fastrack watches for young women in the city.The company proposed to manufacture 2 million digital and ana-digital watches in collaboration with casio computer company of japan.fasttrack watches information may be used in various ways by vice-presidents, deans, counselors, faculty advisors, department heads, services directors, recruitment officers, and institutional research staff. The data provide to the input.
  3. 3. SEGMENTATION :-It is segmented on basis of multiple proportions such as price, benefits and types of watches. The price of the watches is a major motive in the minds of the customer.Wrist watch can be majorly segmented on the basis of demographic factor and price. Accordingly, three segments can be identified here, namely low priced (Less than500), medium priced (Rs 500 ± Rs 1500), and high priced watches (Above 1500).
  4. 4. TARGETING :-Fast Track watches targeting the urban youth in 2005.Earlier fast Track watches targeted at 20-25 years old generation or men and women.
  5. 5. POSITIONING :-Fast Track watches has recently launched a new campaign based on its new positioning “MOVE ON”.The latest campaign comes in two version-His Story and Her Story.The premise of the new positioning is that Indian Youth tend to be very “detached” in their relationships.The new ads fast Track are an extension of the Move On positioning of the brand.The brand is based on the current psyche of youth.
  6. 6. PRODUCT MIX :- 1] Product and Price :There are a variety of collections of fast track watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific customers.Product life cycle :Product life cycle Sales Time Introduction : WWF, Orion, Zoop, Diva, Octane Growth: Nebula, Insignia, Raga, Royal, Regalia, Edge etc Maturity: Sonata, Fast track, Dash Decline: Aqura
  7. 7. Collection Price range TargetSport 2000-4000 Men onlyArmy 2000-3500 Both men &womenAdventure 1000-2000 Both men &womenBasics 500-1500 Both men &womenGrunge 1000-2500 Both men &womenAluminium 500-1000 Girls onlyColor play 1000-2000Both men Girls only &womenDigital fashion 500-2000 Both men &womenEssentials 1000-2500 Both men &womenparty 1500-3000 Both men &women
  8. 8. 2] PROMOTION :-Advertising :- Advertising is in the form of television commercials. The company uses youth icons to Portray the trendy and funky look of the brand and too associate with it. Most of its advertisements were dominated by youth. - Some of the popular Fast track advertisements are discussed below: Yes Sir, Ad. A teacher was taking attendance, A boy responses his roll by raising his hand .- Girls get obsessed by looking at the watch worn by that boy Which has the message that this watch on your wrist makes you more stylish?
  9. 9. And the move is on This has the same message as in the above. There were several other Ads like Neon Disc(Glows in dark),X Y collection(For both boys & girls), Fast Track fans etc. Public displays also play an important role in promotion. The colourful and lively bill boards Play in important role in promotion. BRAND AMBASSADOR :- Indian cricketer of Virat kohaki is the brand ambassador for Fast track watches . Slogan :- Fast track watches was promoted with the slogan "Cool Watches from Titan.”
  10. 10.  LABEL:-Brand update, consumer durable brands, Fast track, Marketing To Youth, Titan, Watches.
  11. 11. 3] PLACE :-Channels :- The product is sold at almost all the leading watch stores and shopping malls. The Company has also established branded stores and it is also available in titan stores. Coverages :- The products are available all over India.
  12. 12. MARKETING STRATEGY :-FASTRACK WATCH : Titan Industries is making itself fashionably stronger by expanding its category offerings and by launching new brands. The company recently increased its personal accessories space with a countrywide launch of its eyewear brand. Fast Track to strengthen its time wear segment, a move defined necessary to take Titan ahead from mere need-based to a fashion-determined accessory brand. Started in 1999-2000 by marketing under the Fast Track brand Targeted the youth
  13. 13. segment. With Age group of 14-35 yr. (Mainly targeted towards teenagers & collegians).There are over 350 designs available for youth within range of Rs 500 To 2995.Titan Fast track seeks to bring in a new dimension to the Indian watch market With this addition to the Titan portfolio, young consumers can now turn to fulfill their fashion needs.
  14. 14. EVALUATION OF FAST TRACK WATCH :-EVALUATION OF FAST TRACK WATCH :- A consumer then evaluates various alternatives based on the needs and information available toHim. fast track through its variety of variant is able to satisfy a number of needs of the consumers. fast trackWhich is always perceived as trendy and affordable watch has an edge over its competitors. Hence fast trackIs one of the best alternative who are a looking for a trendy yet affordable watch.
  15. 15. Differentiation:-Fastrack is a highly differentiated brand in the eyes of its target audience (based on our sample). Fastrack has been able to differentiate itself because of the variety of offerings and the reliable after sales service it offers. Also, it has always been (or perceived to be) an innovative and up-to-date brand.
  16. 16. POP AND POD :-POP:- We use watch for seeing the time.POD :- Fast track watch giving to the best quality and time durations.Fast track watch in no maintance.
  17. 17. STRENGTHS :STRENGTHS Watches as a fashion accessory Quality or price positioning Brand image Market segments with large potential: women, youth, children, sportsmen, the budget-conscious and, of course, the big spenders. Customer value and offered after sales service in a showroom environment.WEAKNESSES :WEAKNESSES Main USP is low cost watch. Lack of futuristic approach Lack of flexible thinking
  18. 18. Conclusion :Conclusion The opening of the Indian market and the arrival of premium fast track brands has certainly led to Indian consumers being exposed to global brands, styles and various price levels. To the Indian consumers, the high price of fast track watches has helped them to realize the value of Indian brands, particularly of Titan, which offers equivalent quality, but at lower prices and with better distribution and service. Titan has shown its differentiation, and customer centric approach which helped them to get the market.