Description
FASTRACK PPT
MOVE ON
Presented by:
Anamika Gupta
Fastrack at a glance
? Parent company - Titan Industries Limited (Tata Group) ? Product category- Watches, Bags and Accessories(Wallets
& Belts)
? Sector- Lifestyle and Retail
? Contributes 25% sales revenue in Titan’s revenue ? Tagline/ Slogan- Move on ? USP- Youth Appeal
Origin
? Fastrack was launched in the year 1998 as a sub-brand of
Titan
? As an independent brand, its establishment was done in
2005
? Carve a niche for itself in the youth accessories market ? Entered the market saturated with International designer
labels –like Citizen, Swatch, Casio, etc
? First Indian brand segmented for youth
Market Scenario
? Size of the current watch market is 40-45 million piece
annually
? Average growth size is 10-15%
? Fastrack sells – 3 million watches annually ? Fastrack 2011 revenue – Rs 500 crore
Source: www.businessstandard.com
Competitors
Wrist watch segment ? Swatch ? Casio ? Timex
Marketing Mix
Product
Watches Sunglasses Bags Youth accessories
Price
Watches-499 rs-2995 rs Bags700 rs-2000 rs Sunglasses-700 rs1500 rs Accessories-400 rs1000 rs
Place
Multi-brand outlet, Near colleges Retail stores (110 stores and presence in 500 retail outlet)
Promotion- 360 media campaign
Fastrack’s product wise contribution in terms of percentage in its Revenue (2011)
Accessories(bga s,belt,wallet etc), 40% Watches, 50%
Sunglasses, 10%
Source: The Strategist, Business Standard
SWOT analysis
STRENGTHS •High youth connect •Fast changing designs to keep up with latest trends •Good Distribution Network •Diverse Portfolio OPPORTUNITIES •Fast growing youth segment presents growth opportunities •Global penetration would help brand grow WEAKNESS •Products have a short life due to changing trends •Limited global reach despite 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
STP
Segment
• Trendy and colorful lifestyle accessories
Target
• Mid Premium Urban youth
Positioning
• Youth brand for stylish youth owning watches and accessories
Positioning
Positioning -1998
? 1998-Fastrack was promoted with the slogan "Cool
Watches from Titan.” ? Launched as Titan Fastrack ? The design were trendy and basically targeting youngster between the age 17- 35 year ? The revenue in 2001-2002 was worth Rs 25crores
Positioning-2003-04
? 2003-04- targeting the executive segment as well as the
casual watch segment ? The brand sales came down to Rs 23 crore ? Company ‘s growth stagnated
Positioning 2005
? ‘Titan Fastrack’ became ‘Fastrack’
? Repositioned the Fastrack as brand for youngster and
teens
? It come up with slogan ‘
move on’ and ‘how
many you have?’
? Brand extension in Bags , sunglasses and belts.
? The brand sales zoomed to Rs 35 crore*
*business Standard 2011
Brand Identity
Extended
core
Brand As Product 1. Youth Accessories_ 2. Stylish & Trendy 3. affordable 4. Trendy Stuff for fashionable youth 6. India
Brand as Organization 1. trustworthiness 2. Local
Brand As Person 1. Excitement 2. friendly
Brand As Symbol 1. a stylish leopard shaped Logo 2. India’s first youth oriented watches & accessories brand
5. Youngsters & teenagers
Performance Dimension
? A smart combination of edgy design and value pricing ? There are over 350 designs available for youth within range of
? ?
? ?
Rs 500 To 2995. The part of watches are outsourced . Products highly are durable which gives the warranty of one to two year Trendy, funky and stylish The range starts from rupees 449 and ends at rupees 4000. *
*www.fastrack.com
Imaginary Dimensions
Users Profile? targeting youngsters & teenagers, ? Age:16-25 ? Gender: Male & female both ? Psychographic: Cool, Carefree and joyful youth ? Personality & values-Excitement
Judgment Dimensions
? Quality: Justified cost and excellent after sales services
prove the commitment Technically Competent
? Band Credibility:-Trustworthy ? Brand superiority: Innovative and trendy youth design,
Indian Brand and affordable
Feeling Dimension
?Fun
?Excitement
Current Strategies of the company
? What should be the next thing after “move on”??
? Brand Extension-Planning
to extend in motorcycle
Helmets and Footwear ? Entered into unorganized segment e:g bags, wallets and belts ? Social Media Marketing ? Theme based designing: army range in Watches and summer and beach range in bags
Theme based designing
Army Range
Biker’s Range
? The
company recently increased its personal accessories space with a countrywide launch of its eyewear brand ? There are over 350 designs available for youth within range of Rs 500 To 2995 ? Titan Fastrack seeks to bring in a new dimension to the Indian watch market
ADVERTISING STRATEGY
? The whole advertising is covered by media such as
Hoarding, POP, Television Ads, Newspaper & Magazines. ? As the advertising campaign is carried on through different manners the young generation is attracted toward the brand. ? The key role is being done by Television Advertisment. ? There are several brand ambassadors for fastrack like Genalia D’ Suza and Virat Kohli
Future Prospects
? Fastrack will also soon seed a project to design and
? ? ? ? ? ?
launch bicycles Popularity will increases Competition will increase because online retail portal Planning to open 98stores in tier 2 and 3 tire cities Brand awareness will increase due its social media campaign. The next focus would be on Tier-II and III cities. Fastrack will evolved itself as umbrella brand
? the company will also enhance store space from the
current 500 sq ft to about 700 sq ft. ? expanding the number of retail outlets to 130 this fiscal and doubling that number during 2013-14 ? The company will also be investing heavily on increasing its physical presence both in terms of retail network and ads
THANK YOU
doc_900191438.pptx
FASTRACK PPT
MOVE ON
Presented by:
Anamika Gupta
Fastrack at a glance
? Parent company - Titan Industries Limited (Tata Group) ? Product category- Watches, Bags and Accessories(Wallets
& Belts)
? Sector- Lifestyle and Retail
? Contributes 25% sales revenue in Titan’s revenue ? Tagline/ Slogan- Move on ? USP- Youth Appeal
Origin
? Fastrack was launched in the year 1998 as a sub-brand of
Titan
? As an independent brand, its establishment was done in
2005
? Carve a niche for itself in the youth accessories market ? Entered the market saturated with International designer
labels –like Citizen, Swatch, Casio, etc
? First Indian brand segmented for youth
Market Scenario
? Size of the current watch market is 40-45 million piece
annually
? Average growth size is 10-15%
? Fastrack sells – 3 million watches annually ? Fastrack 2011 revenue – Rs 500 crore
Source: www.businessstandard.com
Competitors
Wrist watch segment ? Swatch ? Casio ? Timex
Marketing Mix
Product
Watches Sunglasses Bags Youth accessories
Price
Watches-499 rs-2995 rs Bags700 rs-2000 rs Sunglasses-700 rs1500 rs Accessories-400 rs1000 rs
Place
Multi-brand outlet, Near colleges Retail stores (110 stores and presence in 500 retail outlet)
Promotion- 360 media campaign
Fastrack’s product wise contribution in terms of percentage in its Revenue (2011)
Accessories(bga s,belt,wallet etc), 40% Watches, 50%
Sunglasses, 10%
Source: The Strategist, Business Standard
SWOT analysis
STRENGTHS •High youth connect •Fast changing designs to keep up with latest trends •Good Distribution Network •Diverse Portfolio OPPORTUNITIES •Fast growing youth segment presents growth opportunities •Global penetration would help brand grow WEAKNESS •Products have a short life due to changing trends •Limited global reach despite 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
STP
Segment
• Trendy and colorful lifestyle accessories
Target
• Mid Premium Urban youth
Positioning
• Youth brand for stylish youth owning watches and accessories
Positioning
Positioning -1998
? 1998-Fastrack was promoted with the slogan "Cool
Watches from Titan.” ? Launched as Titan Fastrack ? The design were trendy and basically targeting youngster between the age 17- 35 year ? The revenue in 2001-2002 was worth Rs 25crores
Positioning-2003-04
? 2003-04- targeting the executive segment as well as the
casual watch segment ? The brand sales came down to Rs 23 crore ? Company ‘s growth stagnated
Positioning 2005
? ‘Titan Fastrack’ became ‘Fastrack’
? Repositioned the Fastrack as brand for youngster and
teens
? It come up with slogan ‘
move on’ and ‘how
many you have?’
? Brand extension in Bags , sunglasses and belts.
? The brand sales zoomed to Rs 35 crore*
*business Standard 2011
Brand Identity
Extended
core
Brand As Product 1. Youth Accessories_ 2. Stylish & Trendy 3. affordable 4. Trendy Stuff for fashionable youth 6. India
Brand as Organization 1. trustworthiness 2. Local
Brand As Person 1. Excitement 2. friendly
Brand As Symbol 1. a stylish leopard shaped Logo 2. India’s first youth oriented watches & accessories brand
5. Youngsters & teenagers
Performance Dimension
? A smart combination of edgy design and value pricing ? There are over 350 designs available for youth within range of
? ?
? ?
Rs 500 To 2995. The part of watches are outsourced . Products highly are durable which gives the warranty of one to two year Trendy, funky and stylish The range starts from rupees 449 and ends at rupees 4000. *
*www.fastrack.com
Imaginary Dimensions
Users Profile? targeting youngsters & teenagers, ? Age:16-25 ? Gender: Male & female both ? Psychographic: Cool, Carefree and joyful youth ? Personality & values-Excitement
Judgment Dimensions
? Quality: Justified cost and excellent after sales services
prove the commitment Technically Competent
? Band Credibility:-Trustworthy ? Brand superiority: Innovative and trendy youth design,
Indian Brand and affordable
Feeling Dimension
?Fun
?Excitement
Current Strategies of the company
? What should be the next thing after “move on”??
? Brand Extension-Planning
to extend in motorcycle
Helmets and Footwear ? Entered into unorganized segment e:g bags, wallets and belts ? Social Media Marketing ? Theme based designing: army range in Watches and summer and beach range in bags
Theme based designing
Army Range
Biker’s Range
? The
company recently increased its personal accessories space with a countrywide launch of its eyewear brand ? There are over 350 designs available for youth within range of Rs 500 To 2995 ? Titan Fastrack seeks to bring in a new dimension to the Indian watch market
ADVERTISING STRATEGY
? The whole advertising is covered by media such as
Hoarding, POP, Television Ads, Newspaper & Magazines. ? As the advertising campaign is carried on through different manners the young generation is attracted toward the brand. ? The key role is being done by Television Advertisment. ? There are several brand ambassadors for fastrack like Genalia D’ Suza and Virat Kohli
Future Prospects
? Fastrack will also soon seed a project to design and
? ? ? ? ? ?
launch bicycles Popularity will increases Competition will increase because online retail portal Planning to open 98stores in tier 2 and 3 tire cities Brand awareness will increase due its social media campaign. The next focus would be on Tier-II and III cities. Fastrack will evolved itself as umbrella brand
? the company will also enhance store space from the
current 500 sq ft to about 700 sq ft. ? expanding the number of retail outlets to 130 this fiscal and doubling that number during 2013-14 ? The company will also be investing heavily on increasing its physical presence both in terms of retail network and ads
THANK YOU
doc_900191438.pptx